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With a new year upon us, it is a good time to look at important trends to expect in 2022, specifically within the financial sector. Not only do finances impact everyone, but the trends can fluctuate on a yearly basis, so it is crucial to remain informed. In preparation for 2022, individuals and companies should be aware of important financial trends

Increased Use Of Fintech
Like all other industries, technology has heavily influenced finance in recent years. This has led to the massive increase of financial technology, which is also known as fintech. In 2022, expect to see increased use of fintech capabilities for a variety of financial services. This could include expanding online banking services and increasing opportunities for investments. To prepare for this, companies should revisit any processes to ensure that it is functioning as efficiently as possible. Individuals should also start to become more familiar with different fintech options to help make their own financial management more efficient. 

Streamlined Processes
As we continue to see more use of fintech, individuals should also expect to see more streamlined processes. Financial services like banking and wealth management may find it more efficient to increase or improve their online services. While this would require more work initially for companies, it can help make it easier to service a customer base than ever before. As a result, expect to see more capabilities being offered for financial services in the future. 

Impact Of COVID-19 Pandemic
A major trend to be aware of in 2022 is the impact that the ongoing COVID-19 pandemic has had on finances. After the lockdown forced countless business closures and job losses, many families and individuals find themselves still recovering financially from the pandemic. This will likely be a trend that continues throughout the year as companies deal with ongoing COVID-19 surges and potential government restrictions. This may mean that less money is being spent on luxuries worldwide until finances begin to see a long-term recovery. While many individuals built on their finances during the pandemic, it is still essential to be aware of any constraints that could impact finances in 2022. 

“Some information on this website was written by BrandYourself, a non-affiliate of Cetera Advisors LLC”  Megent Financial – Ron Whittingham, Investment Executive & Eric Burton, Investment Executive.”