As a global FinTech business located in London, Ektico sees firsthand the changes taking place in the city’s FinTech market. It continues to lead in financial innovation, which offers numerous opportunities and new difficulties for companies focused on improving international financial services.
The Financial Technology (FinTech) sector in London remains robust. It was recently reported that there has been a strong comeback in FinTech investment, and the City of London has seen much higher equity since 2019. Because London has a large cluster of FinTech SMEs, outstanding talent, and a varied ecosystem of more than 1,600 FinTech companies, it is a major center for innovation. For Ektico, the thriving conditions make it easier for companies to cooperate, improve their standing in the industry, and get involved with a vast array of financial entities, investors, and accelerators.
Ektico strategy and plans are driven by facts and opportunities. Ektico are part of and guiding various main trends impacting the future of London’s FinTech sector. Ektico’s most important aim is to help businesses function smoothly across countries. Being in London, a major banking center, allows them to grow payment systems, work with more currencies, and create new partnerships. The need for quick, affordable, and painless cross-border transactions leads Ektico to add updates and improvements to multi-currency accounts and virtual IBANs constantly.
Combining Artificial Intelligence (AI) and Machine Learning (ML) is happening in the present, not simply in the future. Ektico uses AI to work towards developing customized financial solutions for each user. Using AI, Ektico examines a lot of data to understand your past spending and investment approaches, which allows us to offer you relevant alerts and suitable investment advice. Emphasizing hyper-personalization is very important for making customers happy and letting businesses judge their financial health.
The development of Open Banking into Open Finance and Open Payments is spurring major innovations. It makes it safe to exchange data, which leads to more opportunities for combined financial services. Because of this, Ektico can work more closely with different FinTech partners, introduce more advanced tools, and empower clients to manage their finances as they wish.
Although still ideas in the early stages, Decentralized Finance (DeFi) and blockchain are considered to be game-changing concepts. From Ektico’s perspective, blockchain makes it possible for financial systems to be transparent, highly accessible, and improve money transfers between nations. When the market matures, Ektico will keep searching for ways these new technologies can boost our offerings and expand financial access for more people worldwide.
The rise in digital use requires organizations to focus more on cybersecurity. Because Ektico operates in a strongly regulated field, security and compliance with rules are given the highest priority. Because rules are constantly evolving for cryptoassets, consumer protection, and cybersecurity, banks must continuously evolve and act promptly.
Benefits of Ektico in London
The main advantage Ektico gets from London is its open regulations, primarily promoted by the Financial Conduct Authority (FCA), which motivate innovation and cover the protection of consumers. This balance is necessary for Ektico as it tries to update the financial sector with good practices.
The sense of cooperation between big banks and nimble startups in the London FinTech community leads to many creative spearheads and valuable relationships. Because of this ecosystem, Ektico can upgrade its products, employ new technologies, and give better solutions to clients everywhere.
Looking Ahead
FinTech in London is still growing and developing. In the years to come, Ektico will keep pushing the limits of innovation in global finance technology. They expect embedded finance to become even more popular, AI-powered tools to develop further, and a greater emphasis on safe, smart, and reliable financial operations. From London, they intend to take part in this growing area, while also supporting companies to succeed in different countries worldwide.