With the growing use of fintech solutions, companies can set up cloud-based payroll systems that employees can access on-demand. As a result, it is estimated that in 2020, U.S. workers will withdraw $9.5 billion in pay from fintech platforms, nearly triple the amount withdrawn in 2018. Moreover, on-demand access to wages is crucial for employees experiencing financial stress. As of 2018, 35% of people have experienced financial stress in the past year.

Embedded payments are a hot topic in today's financial services industry. These technologies enable businesses to offer a smooth buying experience for customers. As a result, many new entrants in this market have an excellent opportunity to grow, and established companies have already begun to invest heavily in these new technologies.

Embedded payments are transforming consumer expectations. These technologies make it possible for consumers to pay for goods and services online and on mobile. These technologies also make it possible for businesses to offer their customers a wide range of financial services. These services can help improve the customer experience and foster brand loyalty.

Embedded payments are a hot topic for the next few years. Although this technology is still relatively undeveloped, it has already been deployed by 15% of midsize financial institutions and is expected to become popular in the coming years. In addition, embedded payments will likely spread across multiple industries and sectors, unlocking substantial untapped potential. The leading sectors that will benefit from embedded payments are health, education, employment, and real estate.

Conversational experience design is one of the most critical future fintech trends. This design method mimics natural human-to-human interactions and has already seen significant consumer adoption. Moreover, it can also increase employee productivity and open new channels for selling products and services. Another significant fintech design trend of 2022 is advanced data visualization.

In addition to the user-centric approach, fintech has embraced AI, automation, and data analytics to improve customer experiences. Buy-now-pay-later is another popular trend among fintech. It allows customers to make payments even if they don't have the funds available. This flexibility has made finance-as-a-service solutions popular.

The first step in creating a conversational banking platform is mapping the customer's journey. This step will help banks understand what kind of support their customers need. They should also identify their key touchpoints to deliver an omnichannel experience.

One of the hottest trends in fintech right now is biometric identification. Companies like Alipay are using facial recognition to authenticate payments. This technology has also made its way into mobile devices. Utilizing biometrics for identity is not only beneficial for prices, however. It is also becoming a significant source of security for financial institutions.

The banking industry has been slow to adopt biometric identification, but it is quickly becoming a popular choice for security reasons. In the past, it was a manual process that took time to complete. Now, it is automated and much more convenient. For example, it can monitor employee attendance and check visitor IDs. In addition, the software allows managers to manage records more efficiently and track everyday activities more easily. But it isn't without its flaws.

Biometric identification has many advantages, but many concerns are still associated with its implementation. Among these concerns are privacy concerns. It is essential to remember that biometric data can be used without the person's consent, compromising the security of sensitive information.

Multi-factor authentication is a crucial element of any secure financial transaction. This technology is being developed in various ways to enhance security and convenience. Modern cloud-based MFA is especially suited for businesses with a cloud-first strategy and looking to improve their user experience while lowering total operating costs.

As more essential economic activities shift to digital platforms, the ability to understand and verify identity is of paramount importance. Not only will it help whole ecosystems of providers provide critical services, but it will also protect end-users and institutions from fraud. The session will also feature a panel discussion featuring senior leaders from large financial institutions on how to respond to the fast-changing digital landscape and rapidly changing customer behavior.

Among the top emerging technologies is behavioral biometrics, which uses an individual's unique gait to identify them. Another emerging technology is mobile authentication, which utilizes real-time signals sent by mobile devices to verify a user's identity.