As high interest rates begin to stabilize and inflation shows signs of moderation, finance professionals must stay ahead of emerging trends. Key areas poised for disruption include the integration of cloud-based accounting systems, the growing influence of artificial intelligence (AI) in automating routine tasks and the increasing importance of compliance in a more complex regulatory environment. These trends reflect a broader movement toward digitalization and efficiency, making organizations need to adapt their financial practices to meet evolving demands.
This enhances operational efficiency and enables finance teams to leverage tools such as expense management apps and payroll systems seamlessly. AI and machine learning are reshaping finance roles by automating data analysis, enhancing fraud detection and optimizing cash flow management. As finance professionals increasingly rely on AI to streamline processes and improve decision-making, the focus shifts towards strategic tasks that require human insight and creativity.
Driven by these trends, the fintech market size is projected to grow from $ 222 billion in 2024 to $ 1,818 billion by 2035, representing a CAGR of 21.04 percent.
In this edition of CFO Tech Outlook, we provide insights into recent developments in the fintech and accounting market and how firms provide services aligned with the latest trends.
It features a thought leadership article from Eugene Y. Troyansky, head of transaction monitoring, Mashreqbank, who provides a brief overview of foreign correspondent bank accounts and their role in facilitating international payments. It also features an article from Solomon Ponniah, SVP - director of business & government banking, Popular Bank, who sheds light on the challenges faced by small business owners in maintaining financial health in a higher interest rate environment and a potential economic slowdown.
In this edition featuring the Top Accounting Solutions Providers 2024 and Top FinTech Solutions Providers 2024, we hope you find the right partner to meet your organization’s needs.
