Fintech in 2024, predictions

Financial Chat
1

Didn’t see one already, thought it might be interesting. What are peoples predictions for Fintech in 2024?

Mine are:

  • Monzo continues to grow and either expands into Europe or progresses
  • We see a return to the UK market for N26 and Bunq
  • Chase allow customers to return, after launching a credit card
  • We say goodbye to Kroo, Algbra, Sable, Metro Bank
  • Starling remains stable
  • Revolut doesn’t get a licence

And a non-fintech special:

  • FD release budgeting and notifications in Dec 2024
  • Apple Card releases in the US under Chase stewardship
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5

I don’t think Metrobank is going to go anywhere to be honest. Maybe get snapped up/absorbed but I think still keeping the MB banner.

Revolut agreed - I don’t see them ever getting a license.

I think we might see bigger switch offers from Statking/Monzo potentially as they try to increase their share.

6

I’m not sure anyone would want them, they don’t really have much to offer. So if they do go under, I think banks taking the custom would be the more likely option.

They’ve never done a switch offer, can’t see why they would in 24 but who knows.

8

There’s going to be a reckoning of smaller fintechs, too many companies with dubious balance sheets, over paying their staff and burning cash for fun

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9

Yep. I can see it being quite a brutal Q2 for a number of them. I think they’ll make it through the first quarter and then either continue or go up the wall.

10

Got to be this. Its time has come.

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