Mintos predicts “booming” fintech growth in 2021
Fintech will boom and investment portfolios will become more diversified in 2021, according to new predictions by Martins Sulte, chief executive of Mintos.
Sulte pointed out that 12 out of 13 fintech sectors reported year-on-year growth for the first half in 2020 compared to the same period in 2019, and he believes more growth is coming.
“Fintech is already booming, but the market has yet to reach its peak and will continue growing throughout the next year,” said Sulte.
“Our own growth plans involve Mintos becoming a regulated marketplace, which will open even more opportunities for growth.”
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More diversified portfolios are also expected next year, after many investors experienced the shock of pandemic-linked stock market crashes in 2020. Sulte believes that alternative assets will play a more significant role in portfolio management as a result.
“Alternative investment options can be diversified further with many options and risk variability to choose from,” he said.
Other predictions from the European alternative lending platform include the expectation of tighter regulations, and slow value regrowth after the pandemic has ended.
Mintos’ chief executive also suggested that there will be more support for financial literacy among retail investors – particularly when it comes to alternative investment options.
Read more: Millennials make up three quarters of Mintos investors
“It is the users’ pains, needs, and demands that drive the development of the financial industry,” said Sulte.
“Financial literacy can be a life-changer, impacting everything from getting a college education to starting a business. At the macro level, it can help bridge the wealth gap and support economic mobility.
“Since an increasing portion of the market understands the significance of financial literacy, we will see more efforts to support the new coming investors in 2021.”
Read more: Government launches global partnerships programme for UK fintechs
