Every year, the finance market experiences shifts in trends, especially as technology and its applications advance. For this reason and more, no doubt Investors and financial advisors will most likely not be entering 2022 in the same headspace as they started in 2021.
Join us as we share details of our exclusive interview with the Head Trader at WealthPress, Roger Scott, as he sheds light on the financial trends to lookout for in 2022. WealthPress has always been a respected stock and options trading service, so we are really excited about this one.
Can you share some insights on what to expect in the financial market in 2022?
While dangers to the global economy such as inflation, rate hikes, supply chain disruption, new COVID variations, and tapering cannot be overlooked, in the face of increased inflationary pressure, rising interest rates, and continuous disruptions in international supply chains, financial markets are likely poised for a bumpy ride in 2022.
However, prices, consumer demand, and monetary policy may all come closer to equilibrium in the following year, resulting in a gradual stabilization.
How are Millennials And Gen-Z Accelerating Digitisation in the personal finance sector?
In the coming year, Millennials and Gen-Z are projected to have a substantial impact on personal finance. As Society is becoming ever more digitally oriented, anyone can say this trend is one that directly influences the financial sector.
By 2022, we should expect a decrease in card-based direct payments. This is because technically everything can be done on smartphones.
So, just as new trends always signal the end of old ones, the end of card payments is drastically coming into view. The thing is, both generations are referred to as digital natives, and they have been found to be more aware of their financial management from a young age.
Therefore, personal finance apps and digital experiences will be in increased demand as a result of these traits.
How can companies/brands in finance make the most of the latest trends in the new year?
The first thing people need to realise about trends is that not every trend will work for every company or industry. However, in recent times it is always advisable to upgrade a company’s present technology stack if it wants to stay relevant.
For example, the steps of digital transformation in financial services include developing a strategy, conducting market research, consulting with business analysts, and experimenting. To get the most out of your rising tech potential, you must tie technology to your company’s fundamental business demands and upgrade smartly based on strategy rather than tech fads.
What can you say about Cryptocurrencies, NFTs etc. in 2022?
Because of its interconnection and flexibility to be used across different ecosystems, cryptocurrency is emerging as a replacement for loyalty points, with a higher value. People can earn, carry, and spend supplementary money across a rising number of online eco-systems.
Crypto will be critical in establishing value dynamics in ecosystems like gaming, the Metaverse, social communities, and marketplaces.
Roger Scott, can you tell us more about the predicted boom in embedded finance?
Embedded finance has swept the financial world, and its expansion is expected to continue well into 2022. This is indicative of the growth in its usage which shows that it’s financial solutions are useful.
By 2022, embedded finance should be more customer centric.
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