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The fintech investment landscape in 2023 is challenging, with a particular focus on generative artificial intelligence.
As uncertainty prevails, investors are becoming more comfortable holding their money in savings and short-term financial instruments rather than taking on the risks and rewards of investing in new ventures.
So, looking to the year ahead, interest rates are expected to fall, which is expected to trigger more investment capital to become available.
The most successful fintechs exist to be different and better, with COP28 making headlines at the end of 2023 and a global agreement on the transition away from fossil fuels. We know that an announcement will be made. There is no doubt that investment opportunities in ESG and clean technology will greatly satisfy investor demands.
2023 has been a very progressive year for Lloyds Banking Group’s own fintech investments, investing in eight companies that we believe will deliver value and deliver great outcomes for our customers and clients. We will continue to invest in 2024 and beyond, working with partners who believe in this. Please help us adapt to provide a better experience.
Looking ahead to 2024, the opportunity and potential impact of AI on financial services is clear. There is certainly a movement to capitalize on opportunities across the enterprise, including in financial services. Only time will tell if companies move quickly enough to deliver the experiences their customers and clients want.
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