Predictions From OneID, Pay360, Espria and CertiK 

Fintech is reaching a tipping point amid rumors that the industry is “losing its luster”. We’ve seen reports of declining valuations, failed sales, staff layoffs and hiring freezes as companies struggle to raise new capital. Some fintech companies closed abruptly, while others said goodbye before saying goodbye.

all month of january Fintech Times, We share industry predictions for 2023 and ideas for “moving fintech forward” in the next 12 months.

Today OneID, Pay360, Espria, and CertiK.

Three predictions shared by OneID

Martin Wilson The CEO of identity technology startup OneID has picked three key trends for 2023.

  1. Growing Fraud Threat

    “Fraud is rampant across the UK and has become the most common crime in England and Wales over the past year,” he says. “Police and banks have invested resources to tackle this problem. But tackling this scourge on society requires a collective effort.

    “The cost of living crisis and political uncertainty have created huge opportunities for criminals in recent months. This trend will continue unless we agree on a common technology-driven approach.”

  2. Decrease in fintech funds

    “Fintech has experienced a very large recession this year due to funding and valuation declines. The macroeconomic environment has been challenging for fintech, but it can also create opportunities.

    “Companies around the world are looking to protect their bottom line by increasing efficiency and saving money. Fintech can fill this gap with the latest automated technology. , fintech products that solve real-world problems such as fraud could be widely adopted.

    “We believe he will enter the UK’s world-leading Fintech sector as it is currently ranked 10th Fintech supporter in the UK. It will also help improve the level of government services.”

  3. The Importance of Online Safety Bills

    “In 2019, the Tories are committed to making the UK the safest place in the world online, protecting children from online abuse and harm, and protecting the most vulnerable from accessing harmful content. Did.

    “The UK was the world leader when it came to online safety legislation, but unfortunately that momentum has stalled in 2022. Unless we take action, this will continue in 2023. We hope that Sunak will pick up the mantle in 2023 and advance online safety legislation to protect people online.”

3 predictions from Pay360

Alex Common Chief Product Officer of a payment solutions company Pay360, Share your predictions for 2023.

  1. Why companies are flocking to subscription-based models during times of economic uncertainty

“It’s not surprising that the speed at which companies monetize their offerings through subscription-based models continues to gain momentum as they continue to grapple with the uncertainty of the current economic climate.

“Over the last 12 months, multiple sectors have experienced significant declines in corporate values. Meta, Alphabet, Amazon, MicrosoftEarnings in the third quarter report a total loss of over $350 billion in market capitalization.In fact, according to the same book, British Chamber of Commerce, 39% of businesses across the UK believe they will be less profitable in the next 12 months. In times of uncertainty, businesses must consider new ways to maximize their bottom line.

“Monetization of subscription-based services is showing great momentum in the market. Mercedes-Benz, for example. The company recently announced that electric car users will be able to reach 0-60 seconds a second faster by paying an annual subscription fee of £991.

“Clear benefits such as reliable recurring revenue, increased customer loyalty and the ability to manage financial projections into 2023 are driving a steady shift for companies to further monetize their offerings through subscription-based models. you will see.”

  1. How Integrated Payments is Charging the Path to Best-in-Class Customer Experiences

“In today’s digital economy, consumer behavior is undergoing a major shift towards the need for a seamless shopping experience across all channels. changed to

“Being able to offer customers a full range of payment options, whether in-store or online, has become an important aspect of the customer buying journey. There is a danger of relying on

“In the battle for market share, it is imperative that businesses offer best-in-class frictionless multi-option payment services across all channels they operate. We are increasingly looking to software, such as integrated payment services technology, to meet our needs and enable our customers to pay anywhere, by any means.”

  1. The Need for Full Inclusion in Economic Uncertainty

“The combination of increasing digitization and current economic volatility makes it critical for merchants and payment providers to carefully consider how they reach people with limited access to digital payment methods. am.

“Although increasing use of digital payments is inevitable, the continuation of household cash will continue to be an important part of everyday spending. We need to consider how we perceive the consumption habits of

5 MSP predictions from Espria

Whether it’s outsourcing, cloud services, IoT, or hyperconverged infrastructure, 2023 promises to see several trends disrupting the managed services sector. Dave Adamson CTO for Managed Service Provider Esprit.

  1. Continuation of outsourcing

“Most established companies conclude the cost of their in-house IT teams: Increased disruption in the IT industry is expensive to maintain, but on the other hand, most of small businesses cannot afford to match the in-house support that larger companies have, and the result is outsourcing.”

  1. Cloud

“Businesses need a cloud strategy that allows them to prioritize their concerns and plan for the outcomes they want to achieve from their cloud migration. You can make a significant contribution by helping define and execute your cloud strategy at

  1. enhanced security

“For MSPs with expertise in data security, this presents a distinct opportunity to protect client IT infrastructures and provide 24/7 monitoring. Together, more and more companies will use MSPs to leverage their skills.”

  1. Platform and Infrastructure as a Service (PaaS/IaaS)

“It includes elements such as hardware, software, storage, servers and network components, as well as off-the-shelf services such as virtualization layers and database platforms to help businesses scale quickly. IaaS is a very attractive model because it allows organizations to reduce costs, spend less time managing internal infrastructure and services, and also improve end-user service levels.”

“This model eliminates waiting times for hardware, other components, or onsite support. Also, IaaS’s subscription-based billing model offers clients many advantages in terms of scalability, cost, and security. and, in many cases, making enterprise-grade services available to organizations for those who may have previously been out of reach.”

  1. automation

“Finding a trusted external technology partner who can fill the skills and expertise gaps in your company is essential during a recession. Act as a business partner, help assess risks, develop security policies, select and deploy security solutions, ensure compliance with regulatory requirements for data protection, and develop skills with your team. need to do it.

“As we enter a period of economic uncertainty, businesses must control and contain costs. MSPs must adapt and evolve as technology evolves to provide their clients with the most comprehensive product possible and deliver real added value.”

3 thoughts from CertiK

longhuigu, CEO and co-founder of a blockchain security company CertiK, are optimistic about where Web3 will land in 2023. CertiK Forecast for next year:

  1. Cross-Chain Bridge Success Means Web3 Success

“Cross-chain bridges will continue to attract demand from a small number of users willing to take risks, but widespread use of cross-chain interoperability solutions will continue to grow until provably secure bridges are deployed. It remains an unrealized goal, and the development of secure cross-chain bridges is essential to Web3’s continued growth.”

  1. The future of scaling solutions is optimistic

“Layer 2 scaling solutions will continue to grow in 2023 and will likely even overtake the Ethereum base layer in terms of transactions per day. With our continued commitment to security, L2 will meet user demands for scalable transactions.” can do.”

  1. Open source transparency becomes a winning model

“Although many centralized lending platforms collapsed after the market downturn earlier this year, DeFi platforms have maintained their solvency and successfully passed key tests. It will continue to dominate in terms of both security and transparency.”

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