• Fears of a recession impact the FinTech industry, especially in the face of record-breaking Tech layoffs.
• The adoption of AI and IDA in financial institutions may inspire growth as employees are not held up by tasks that could be automated. 
• Embedded FinTech may generate new revenue and improve customer satisfaction. 

FinTech companies have the potential to democratize access to financial services and disrupt traditional banking models, as they use data analytics, artificial intelligence, and blockchain technology to provide faster, cheaper, and more convenient services than conventional financial institutions.

Diane Faro shares with us some of her predictions for FinTech in 2023.   Faro has more than five decades of experience in the industry. She currently serves as CEO of Savify – a prominent FinTech company offering brand loyalty and discount programs to large financial institutions which in turn provide the programs to their merchants.   Faro has also served as the Chief Executive Officer at JetPay Corp. (NASDAQ: JTPY), President of Global Merchant Services at First Data, Alliance Group President for First Data Merchant Services, and CEO of Chase Merchant Services. 

According to Faro, “even though we see a certain degree of apprehension for 2023, much can be done to ameliorate the situation. It is also important to realize that too much general anxiety may have a tangible effect on the market. We must ensure that anticipatory anxiety does not bring about the exact thing there is a misapprehension about.” 

What Can FinTech Companies Expect in 2023?

Read more about PayTech Women, formerly Wnet, Co-Founder Diane Faro.