Key priorities for fintech

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As we enter the new year, businesses are setting their strategic priorities for 2026. The lasting impact of the global health crisis that began in 2020 remains top of mind, alongside emerging trends that have developed beyond the headlines.

While predicting the future is never easy—especially in uncertain times—several key fintech trends are expected to gain even greater momentum over the next twelve months.

The Lasting Influence of COVID-19

The most visible factor continues to be COVID-19, which will keep shaping the fintech landscape throughout 2026.

Many people are unlikely to revert to pre-pandemic financial habits. This shift is particularly evident in how individuals manage their money, prompting companies to fully adapt to the “new normal.” Financial institutions must therefore reassess how they deliver services that meet evolving customer expectations.

For most users, fintech is now an essential part of everyday life. Banks that offer poor user experiences through their apps or online platforms risk losing customers quickly. It is increasingly clear that some bank branches will never reopen, either because they are no longer needed or are no longer economically viable.

Many people across the UK and around the world have been left without convenient access to physical branches. As a result, they are turning to digital fintech solutions. Fintech providers play a vital role in improving the accessibility of financial services and helping individuals and businesses recover from the crisis.

From offering guidance and reviewing finances to applying for new products and making payments, banks must remove friction from routine financial tasks.
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Growing Competition and Market Maturity

Reaching sustainable maturity will be a central focus for fintech companies in 2026. The sector has attracted significant investment and support in recent years. A recent global study showed that 12 out of 13 fintech verticals grew during the first half of 2020 compared with the same period in 2019. During the pandemic, 60 percent of fintech firms either launched new products or upgraded existing ones.

Looking ahead, clear and validated business models will become even more important as the industry matures. Competition is intense and continues to intensify. Not every current bank, lender, or fintech provider will survive in its present form. Those that remain will be distinguished by stronger value propositions and a deeper understanding of customer needs.

New entrants must demonstrate that their solutions can scale effectively. Two critical factors determine success: whether target markets are large enough and whether the technology infrastructure can support substantial growth. Companies need to balance solving a specific, well-defined problem with building a foundation for scalable expansion.

Realising the Full Potential of Open Banking

Open Banking, once merely a concept, has gained substantial traction and is transforming how people access financial products and manage their finances. However, awareness remains relatively low—only 18 percent of consumers fully understand what it means.

The time has come for Open Banking solutions to move beyond basic use cases toward more sophisticated applications. In the near future, the tools built on Open Banking will grow increasingly advanced, enabling faster development, integration, and iteration of new products.

Data sharing will soon expand across most financial sectors, unlocking innovative offerings in areas such as pensions, mortgages, and insurance. Over the coming year, Open Banking is expected to evolve further into Open Finance, delivering a comprehensive view of an individual’s financial position and enabling truly advanced financial solutions.
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Breaking Down Global Boundaries

Another major trend to watch is the continued removal of international barriers. New ways to pay bills and make cross-border purchases will be a priority for many banks and fintech firms in 2026. The growth of mobile banking has already highlighted the need for seamless money management regardless of location.

The ability to transfer funds easily without switching accounts exemplifies the kind of innovations expected in the months ahead. Despite the challenges of recent years, the fintech sector enters 2026 from a position of strength. The year ahead promises to be dynamic, with trends established and accelerated in recent times taking centre stage.

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