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Our partners explore the ways finance will evolve over the coming year.

In Mambu’s free-to-download report, industry leaders across fintech and financial services identify the key trends shaping finance in 2023. With insights from Amazon Web Services, McKinsey, Deloitte, Google Cloud, PwC, Backbase and more, we take a comprehensive look at the financial landscape and examine the ways banks, businesses and other financial players can respond to these sector shifts.

From Big Tech’s presence being felt in banking to the continued rise of embedded finance and ‘super apps’, here are the trends to look out for in 2023.

Across the new year, expect previously underserved consumer groups and businesses to benefit from the adoption of tech such as cloud services and embedded finance.

Digital e-wallets are set to grow, as well as innovation in stablecoin, and we’re seeing approaches to AI separate out the fintech herd.


Embedded finance has been rapidly gaining momentum and this is only set to increase, thanks to its ability to offer innovative, convenient and cost-effective solutions.

In the coming year, expect to see companies using embedded finance to integrate financial services in non-bank products and business processes, as well as banks using it to court the custom of SMEs.

Embedded Finance

Big Tech’s move into banking throws down the digital gauntlet for traditional players.

To stay relevant, the latter must find a way to cater to consumers’ increasing tech expectations and their needs and priorities, such as flexible repayment schedules.

But this shift isn’t just about increased competition - there’s an opportunity for collaboration between Big Tech and financial institutions too.

Big banking

Banking-as-a-Service (BaaS) will evolve to include a greater range of features and overcome some of its previous limitations, enabling fintechs and legacy players to build truly unique offerings and gain long-lasting customer loyalty.

If financial institutions are serious about innovation they need to start thinking of themselves as data companies in 2023.

This mindset shift will set them up to embrace real-time banking and implement highly customer-focused solutions.


As the climate crisis intensifies, the pressure on every industry to step up and take action is increasing.

In 2023, banks’ digital transformation will accompany - and facilitate - a focus on sustainability, ESG and ethical impact finance.

This will be driven by competition as well as conscience: our research shows that green banking is quickly becoming a consumer priority.


‘Super apps’ are already dominating the Asian market and in 2023 we should expect to see their rise around the world.

In response, banks should be looking to create their own engaging interfaces for consumers as well as finding ways to monetise their products and app traffic.

An increasingly cashless world also opens up opportunities for companies to expand across borders, although customisable integrated platforms will be needed to support this.

Contactless spending

With the rise of Web3 and following recent FCA guidance, compliance and regulation will be high on the agenda for 2023.

Creating a regulatory framework will be key to unlocking the power of Web3 within finance and facilitating institutional adoption.

The industry should also expect a consolidation of compliance coverage available to fintechs.


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