If there’s one sector that continues to both delight and surprise while demonstrating inexorable growth and edge-of-your-seat innovation, it’s fintech.

"It won’t be the big banks that change the way people do banking." That’s the mantra that keeps being repeated by many fintech neobanks and startups. In this case, the quote is by Maximilian Tayenthal, co-founder of N26, one of the fastest-growing fintech companies in Europe.

The insurance industry has always relied on data to calculate risk and come up with personalized ratings. Today, the sector is undergoing a profound digital transformation thanks to technologies such as machine learning.  Insurers are using machine learning to increase their operational efficiency, boost customer service, and even detect fraud. And there is a plethora of insurtech startups, eager to take a slice of an insurance industry. Here are 6 ways machine learning is transforming the insurance industry. ---------------------------------------------------------------------------------------- Note: this post has been updated, to reflect the progress of new technologies and business moves by companies mentioned in the article.  ----------------------------------------------------------------------------------------

The financial services sector is on the eve of a major transformation. Many fintech and insurtech startups forced incumbent players to change their ways of thinking and doing business (we’ve even helped a few fintech startups).

Almost 74% of people in the UK are worried about unexpected expenses on a daily basis. That’s huge - whether we think of this number as a social problem or a promising target group.

The financial services sector is on the eve of a major transformation, and the driving force behind it is AI. Innovative applications for AI have already been found across areas such as credit scoring, regulatory compliance, customer experience, and portfolio management. Thanks to rapid advancements in technology, tasks that once took employees hours to complete manually, can now be done in a matter of seconds.

A digital bank for SMEs, an online marketplace for business loans, a corporate credit card provider, and a company providing banking services to microentrepreneurs in Africa and China - a fintech revolution has come to France. We present the 10 hottest fintechs from Paris right now.

Whenever you aim to completely change the way the industry operates, expect the road to be bumpy. That is especially true for any fintech app or service. At Netguru, we are proud to have the opportunity to work with those founders who are aware but not stymied by these challenges ahead.

Swap is a P2P mobile payment app that allows users to send money to anyone on their contact list, any bank account, and any debit card number. The application has already established itself on the Mexican FinTech market. However, after the project matured, Swap's team needed help in adjusting the design to include new services and functionalities. They hired an external design team to help them with the transformation. It worked.

How to win in the financial world with the fintech expansion in full bloom? One of the largest UK banks decided to pull out the biggest guns - Lloyds Banking Group is investing more than £3bn in transforming the company and scouting talent from the digital world.