5 Top Fintech News Stories of 2018

As seen in fintech news this year, the industry has been on a bit of a rollercoaster.

On the cryptocurrency side, bitcoin, ethereum, litecoin and many more skyrocketed and then plummeted in price. Many crypto naysayers were saying, “I told you so” as these currencies crashed and failed to recover throughout the year, dashing the hopes of die-hard investors who have been holding on.

Regardless, fintech companies have become leaders and revolutionizers with online and mobile payment apps. So what were the top headlines in fintech in 2018? Below we’ve compiled a list of the five most popular fintech news stories that sparked the attention of our investor audience this past year. 

1. US Mobile Payment Market to Reach $3 Trillion by 2020, Fintech Stocks Lead the Way

Kicking off our top fintech news stories list is an article covering the massive impending growth of the mobile payments industry. With China already leading the pack at $5.5 trillion, could the North American market really reach the same level?

This article looks at what’s driving this growth and where, and includes insight on which companies are at the forefront of this technology. Want to see which mobile payment stocks you might want for your portfolio? Check them out here.

2. Over 2 Billion Consumers Will Use a Mobile Wallet in 2019, Study Shows

Our next fintech news story reveals the popularity of mobile payments and where this technology is headed — analysts suggest about a quarter of the world will be using a mobile wallet next year.

But when it comes to competition between contactless cards and the mobile wallet, what is winning? And which mobile companies are dominating the space? For answers to these questions and more, read on.

3. Fintech Strong in Canada, KPMG Says

Next on our list of top fintech news stories is a report from KPMG that shows how big of a footprint fintech has globally. The report shows global investment deals reaching US$57.9 billion, and points to Canada as a standout. 

Interestingly enough, fintech investors have been particularly interested in artificial intelligence solutions. What else is driving innovation in the space? And what is investment like in the US compared to Canada? Continue reading to find out.

4. Visa’s Canadian Expansion Continues with PayPal Partnership

Visa (NYSE:V) and PayPal (NASDAQ:PYPL) made fintech news headlines this year when they announced they would be expanding their partnership in Canada.

As a result, consumers will be able to pay for goods and services at locations that already accept PayPal in the country. What other partnerships has Visa created to foster greater mobile payment adoption? And how did these impact Visa’s share price? Click here to have a look.

5. Royal Bank of Canada to Put More Focus on Digital Platform

Last on our top fintech news stories list is a piece on the Royal Bank of Canada’s June announcement that it would be cutting its in-person branch budget in favor of its digital spending budget for things like apps, cybersecurity and artificial intelligence.

What is the bank’s goal? RBC is hoping to acquire 2.5 million more clients by 2023. While in-person transactions are still popular, there’s been a 28-percent drop at branches, as consumers enjoy the convenience of apps.

What else has RBC done to change with the times? This year it launched three new ventures. Read on to find out what they are, and where the company as a whole is headed.

What were your top fintech news stories of 2018? Where do you think the industry is headed in 2019? Let us know in the comments below.

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Securities Disclosure: I, Amanda Kay, currently own bitcoin and ethereum, both mentioned in this article.