Top 3 Fintech Stocks to Buy In 2022

The fintech industry has seen rapid growth in recent years and shows no signs of stopping. Fintech is present in our everyday lives, whether we realize it or not. From sending money to your friends online to paying for a car ride using your wallet app, fintech is here to stay.

According to the Global Fintech Adoption Index, the fintech industry grew by a massive 48% between 2015 and 2019. Experts are also forecasting the global fintech market will be worth up to $190 billion by 2026, with a compound annual growth rate of more than 13%.

In this article, we’ll give you an introduction to the fintech industry and list the top 5 best fintech stocks in the current market to consider for your portfolio.

What does Fintech mean?

Fintech is short for finance and technology – a broad term referring to any business that uses technology to streamline and improve various financial services. 

For example, Kabbage, a fintech giant, leverages Big Data and advanced, sophisticated algorithms to let users make instant lending decisions and loan each other money digitally (P2P lending) without the need of a traditional financial institution. In other words, Kabbage uses technology to simplify and enhance the lending process. 

Another example is smartphone apps that use near-field communication (NFC), quick reference (QR) codes, or barcodes to initiate in-store payment instead of a physical credit/debit card or gift card. Apple Pay and apps from merchants like Starbucks are among the most popular apps in this category.

See also: How Digital Transformation Affects the Future of Accounting.

Different types of Fintech 

As fintech is an umbrella term – any business can represent fintech as long as they use technology to improve financial processes. That’s why fintech can be found in a wide range of sectors, from HR & Payroll to eCommerce & Marketing. 

Source: S&P Global 

See also: What Is The Future Of Fintech And Why Businesses Should Not Resist.

3 Best Fintech stocks to buy in 2022 

There’s a wide range of fintech companies to keep an eye on and invest in. Just remember, investing is a long-term game and you might see your stock swing significantly along the way. 

Below are the top 3 fintech stocks that you should consider buying:

Visa Inc. (NYSE: V)

Visa is the world’s leader in digital payments and one of the biggest fintech companies. Visa is not a traditional bank – it does not issue credit or debit cards. It’s a payment processor, providing the network between the bank issuing the card and the merchant accepting that card as payment. In return, Visa receives a fee from every transaction that takes place on its network in exchange, resulting in billions of dollars in profit and revenue each year.

According to Visa’s 2021 shareholder letter, the company expanded its reach to more than 80 million merchants, a 14% rise. Visa has also invested more than $9 billion in technology over the last five years and continues to do so to ensure that its users are comfortable and secure in shopping digitally.

Paypal Holdings, Inc. (NASDAQ:PYPL

PayPal Holdings (NASDAQ: PYPL) has become a household name for online payments over the last two decades. It has more than 400 million users in more than 200 markets all over the world. More importantly, PayPal’s peer-to-peer mobile payment service Venmo has grown into an industry leader and continues to expand its massive user base at an incredible pace. In 2022, PayPal is launching Pay With Venmo on Inc.’s (AMZN) platform. This partnership comes as online purchasing activity has skyrocketed during the worldwide Covid-19 pandemic, with 47% of Venmo users expressing interest in paying with Venmo when checking out with merchants, according to Venmo’s Behavior Study.

Logan Purk, a senior research analyst at Edward Jones, says, “It’s likely they will continue to deliver on their long-term growth algorithm, which is 20%-plus growth, which we think over time results in fairly attractive returns for shareholders.” He continues, “PayPal continues to expand its services such as peer-to-peer payments, Venmo, crypto, and buy-now, pay-later,” which will definitely strengthen PayPal’s position in the Fintech space.  

See also: PayPal vs. Stripe: Which Payment Solution is Best for Your Small Biz?

Intuit Inc. (NASDAQ: INTU)

Have you ever used TurboTax to file your tax return? 

Intuit owns TurboTax and other financial software like Quickbooks, Mint, and Credit Karma. This company is listed as one of our top picks due to its established customer base and rapid growth. The company’s revenue increased to $2 billion in the most recent quarter from $1.3 billion just a year ago, and it expects to reach $12 billion in 2022, equivalent to a 26% to 28% increase. Intuit has been striving to build a complete and perfect platform for SMEs businesses, streamlining complex and lengthy accounting processes. 

Another fintech tool (not a fintech stock) that can also help you transform your accounting and financial process digitally is Shoeboxed. Shoeboxed is an online receipt scanner app that allows you to turn your stacks of paper documents into digital with just a click. AI-powered technology automatically extracts and categorizes important data from your receipts. Fast and secure, Shoeboxed is the best option to digitize your accounting procedures. 

Final thoughts 

The COVID-19 pandemic caused a permanent shift to digital preference in almost every aspect of life, especially in banking and payments. 

Fintech companies have grabbed this opportunity and shown robust growth, promising a bright and fruitful future for fintech stocks investors. 

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What Is The Future Of Fintech And Why Businesses Should Not Resist

Fintech is the most popular term in the 4.0 era. It appears in almost every perspective of life: in common conversation, newspapers and it has even become a trend in businesses. But what is it?

Fintech stands for Finance and Technology. To explain in a simple way, Fintech refers to leveraging technological innovation in financial services and operations. Fintech does not originate from existing monetary systems, but it marks the encroachment of IT into those.

This article will bring you a more multi-dimensional view of Fintech and how businesses benefit in the future of Fintech.

What will the future look like? 

In recent years, Fintech is present in many financial products. From end-user products (such as e-wallets, cryptocurrencies, fundraising tools, …) to products that support operation activities (smart technology services, blockchain, and more). What about in the future? How will Fintech change and what impact will it have on the entire financial industry? 

There are many analyses and forecasts that have been made. However, in general, experts agree with the following statements about Fintech trends:

1. The future of Fintech will be the future of the financial sector

There are many confirmed reasons to assert that the development of Fintech is the development of the financial industry. In other words, the future of the financial sector is Fintech, especially when considering the factors of financial performance, such as cost, quality of service, information security, risk management and safety.

Fintech is and will continue to help reduce the cost of financial services, new technologies continuously eliminate intermediaries and help financial services reach the most efficient level. At the same time, the quality of service has also increased markedly, because the accuracy and agility of intelligent software are really superior to that of humans. The risk assessment process in banks and financial institutions is complex and many stages can be replaced by Fintech’s fast and accurate data analysis chain. Moreover, Fintech has shown significant upgrades in the stages of data control, ensuring security, safety, and security for customers and financial institutions.

Fintech creates critical changes to financial activities. In the future, it is almost certain that financial institutions that do not use Fintech will be left behind. To what extent Fintech reaches out, the development path of the financial market will also follow.

2. Fintech products are increasingly diverse and more innovative than ever

As in many other fields, technology has brought huge changes in the financial industry. Though many people may consider “Fintech” a new term, its countless imprints and obvious impacts on the financial world cannot be ignored.

Fintech products and services are available in all categories, from personal finance, digital banking, payments, blockchain, insurance fintech and other financial services. I’m sure you have heard about virtual money, crowdfunding and big data at least once! 

But that’s just the beginning. Fintech is being invested in more than ever, and many experts expect that a series of super-utility and super-diverse Fintech products will be launched in the near future. 

No one can predict how far digital technology will go, but not many people will be surprised if Fintech can bring superior financial products and completely change the face and the way that the financial industry works.

3. Fintech investments continue to increase

Because of the obvious benefits of Fintech to the financial industry, we can even say that Fintech has become an indispensable condition for a breakthrough in the financial market, investment funds, financial institutions and software as a service (SaaS) sector. Startups cannot ignore this potential factor! 

Although most Fintech startups are still struggling with sales, market share and many other difficulties, new Fintech startups are born every year. And the budgets of investment funds, financial institutions, and even companies outside the industry pouring into Fintech are increasing steadily each year.

This trend will continue for at least the next five years. Especially when the financial market is welcoming more and more young customers every day. They are the generation that grew up with digital devices and technology, so the utilities that Fintech brings are a must to conquer these customers. Fintech’s budget, as well as Fintech’s potential, clearly cannot be neglected!

4. Fintech grows evenly in Asian, European, American, and Australian markets

If most of the other trendy technology products and services usually originate and blast first in the US, Fintech is a bit different. Though Fintech companies and Fintech products are growing most in the US, specifically in the financial centers of Wall Street and Silicon Valley, China is the leading market in the use of Fintech service. Over 60% of Chinese people have access to Fintech, while the rate in the US is over 30%. The reason for this is simple: Fintech services are associated with mobile phones, an indispensable device for young people today. At the same time, young people also tend to be more open to new technology, including finance.

In the early stages, most countries with developed technology and a majority of the young population use Fintech the most, such as China, India, UK, Brazil, Australia… This trend will continue in the future and will soon be balanced in Asia, Europe, America, and Australia.

5. The corporation between Fintech companies and financial institutions will strengthen both sides

Though they have the advantages of technology, innovative ideas, flexible organization, and infrastructure, Fintech companies often lack the ability to replicate the customer base and lack brand reputation to develop on the target market quickly.

In contrast, financial institutions have extensive customer data, long-standing brands, sufficient finance, and operational experience. But with a lack of technology, they require too much time and resources.

The trend of cooperating between these two entities has occurred in the last few years and is expected to remain the dominant model in the coming decades. It is unpredictable whether this cooperation will be “peaceful” forever or if the financial business sharks will swallow Fintech companies or vice versa. Yet, in the short term, this partnership is still promising. It will bring strength to both sides, and help to push both Fintech and the financial system to new heights.

Why businesses should use Fintech 

1. How Fintech changes customer’s behavioral psychology

The popularity of the smartphone has made a huge change in consumer behavior. We are living in an “always-on” culture, which is cultivated by the rapid growth of mobile services and apps. People now can access more information or data anytime, which was impossible before.

More than checking accounts or setting up an online investment, users now want to easily handle financial activities in the same way they check email or surf Facebook. This is a huge opportunity for businesses. Sooner or later, no one will succeed and grow without using the right fintech services.

2. How businesses benefit from the future of Fintech

The rise of Fintech has permanently changed the way companies do business. The traditional direct connection model with a local bank or a traditional investor is no longer the only way.

From crowdsourcing to mobile payments, business owners now have unlimited options. The cost to start a company or expand it has never been lower than it is today!

Fintech companies also cover a wide range of sub-sectors: crowdfunding, peer-to-peer lending, algorithmic asset management, credit scoring, education lending, working capital management, cyber security, quantum computing, and so on. Despite operating in such vast fields, these companies all have one thing in common: they build and deploy technology to make financial markets and their systems work more efficiently and more fruitfully.

Fintech plays an essential role in the SaaS Sector as well. Let’s see some examples of the benefits of software as a service. Cross-border remittance was a deadly trap for business owners, now being reorganized through innovators. TransferWise has completely changed the traditional (and expensive) banking solution when sending money across nations. This helps SME companies and individuals transfer money at a much lower cost than before.

Another SaaS example is Shoeboxed. This is an expense & receipt tracking tool that assists businesses in getting reimbursed fast, maximizing tax deductions, saving time and effort when it comes to accounting.

Final thoughts

The future of Fintech opens up countless opportunities. Businesses can now offer more services than ever before and for a small fraction of what they previously offered.

As we are into the final quarter of 2021, it is time for businesses to pay close attention to the development of Fintech as well as its huge impact on our lives. Understanding the latest opportunities and developments in the field will improve your business situation and help you stay on top of the market.

What is your prediction about the future of Fintech? Leave a comment to share your thoughts with us! 

Find more interesting articles on Shoeboxed

SaaS, Fintech And The World Technology

Looking back at our lives ten years ago, it is surprising how much our world has developed. We evolved from doing things manually to having things done automatically. We evolved from spending hours at the bank to finishing a transaction within just one click. The world has been changing at a flashing pace. Following the world trend in technology, many SaaS and Fintech enterprises have been born and increased astoundingly during the Covid-19 pandemic. The number of SaaS and Fintech companies is also expected to continue to rise even after the pandemic. 

Since both types of business are leading trends in the market, in this article, we would like to introduce to you the relationship between SaaS (Software as a Service) and Fintech (financial technology). 

SaaS applications

1. What is SaaS? 

Together with the development of technology, SaaS (Software as a Service) has become a trend and is gradually replacing the existence of traditional SaaP (Software as a Product) due to its convenience, flexibility, fast implementation, and cost-saving benefit. 

2. How companies benefit from SaaS applications

SaaS allows businesses to access a particular service remotely through a web browser, using an internet connection. With SaaS, after implementing the application, companies just need to pay a certain amount to “hire” the service from the provider. They do not have to invest in setting up a server and other maintenance tasks afterward. Each amount of fees paid indicates a certain number of functions that can be performed. By this form of service, business owners can adjust which service plans are the most suitable for them. Hence they can cut unnecessary maintenance costs. 

With its specific benefits, SaaS is favored among big companies, as well as start-ups and entrepreneurs. By implementing SaaS, companies can spend more time increasing their revenue or improving their operating efficiency instead of focusing on handling, upgrading, and maintaining their system.

Moreover, nowadays, SaaS applications are specialized and can be applied to different departments in a company such as HR, Operations, Finance & Accounting, Sales & Marketing, Customer Service, and so on. 

Let’s take the following as an example. Shoeboxed is a SaaS company specializing in managing receipts for individuals and businesses (both small-size and big-size). (You can check out Shoeboxed here). All data on the receipts are scanned and stored in the system in both picture and data format. Users can then keep track of the payment history by exporting the file later. The receipt managing task is a big help for the accounting department in tax preparation and reimbursement procedures. Besides, since all the receipt data is well organized, it is easier for the Operations Team to consider which tasks need cutting off. It is useful for the Sales and Marketing Team to sit back and examine which marketing strategies are worth investing in.

See more: 5 Triangle SaaS Tools Keeping Small Businesses Organized.

Fintech and its growing trend 

1. Fintech definition

We believe that many of our readers have heard the word “Fintech” many times. It has even become a famous term and topic, especially among people in the IT sector. However, according to Statista, 67% of the US population said that they had not heard about Fintech, 21% have heard the word somewhere, and only 16% have clearly heard and understood its meaning. Despite those low numbers, the industry is still growing fast. So what is Fintech, and why do people talk about it?

“Fintech” is a short form of Financial Technology. According to the World Bank, it is a recently-created term that describes the new trend in the Financial and Banking area that “employs new technologies to improve or innovate financial service”, according to the World Bank. All companies that use the internet, cell phones, cloud computing technology, and other open-source software to advance the efficiency of the Banking and Investment business, can benefit from Fintech.

We can divide Fintech companies into two groups:

  • The first group is companies that focus on the end-users. Their main businesses provide digital tools that help improve the customer experience in borrowing, money managing, and start-up funding.
  • The second group is companies that play the “back office” roles in supporting other financial institutions.

So, is the e-wallet function on the mobile application of a banking institution called Fintech? Unfortunately, the answer is no. It is just an application of IT in the banking area.

However, for example, if Shoeboxed develops and applies a new data security technology to the e-wallet application of a banking institution to provide convenience and safety to the customers, yes, it is Fintech.

2. Fintech services

Fintech is now providing services in different areas such as banking technology, payment, financial management, cryptocurrency, … with diverse services including

  • Digital wallet (or e-wallet) – “a software-based system that securely stores users’ payment information and passwords for numerous payment methods and websites” (according to Investopedia). (Example: PayPal).
  • Distributed ledger technology on a blockchain platform. A distributed ledger is a database that is distributed to more than one computer or node. Each node maintains a ledger, and the ledger will be updated if there are any changes in data. A blockchain is a type of distributed ledger where every node has its own copy of the ledger. When data changes happen, it will also update all copies of the ledger. (Example: Bitcoin).
  • B2C e-commerce – online transactions between businesses and customers. 
  • mPOS – known as mPOS, a portable point of sale of a smartphone or tablet that acts as a register. This service is popular for businesses such as food trucks, convenience stores, supermarkets, etc. that allows the customers to complete payment transactions with just a touch.

Aside from the examples of Fintech products listed above, there are still a lot of services that might be a bit less popular such as:

  • Peer-to-peer lending (abbreviated as P2P lending) – a website that allows users to borrow and lend money directly. The P2P lending website helps to connect the borrowers directly to investors. In exchange for that, they control the transaction by setting the fee, interest rate, and other terms of conditions. 
  • Crowdfunding – a platform that allows start-ups to sell some of their future products to potential investors. If start-ups can fund enough money, they can start their project right away, and vice versa, if the amount of money funded is not enough, start-ups will return them to investors. 
  • Personal finance – a different branch of P2P lending that collaborates with banks to give end-users insights and advice about their bankings. 
  • Data management
  • Insurtech and so on

It is undeniable that Fintech has been encouraging a trend of entrepreneurship in Finance and Banking, the famous industries for their requirement of huge capital when joining the game. Thanks to this trend, a wide range of services are available in the market, yet the difficulties in management. 

However, if wisely used, Fintech can bring several benefits such as:

  • Improving customer satisfaction since the customers save time when completing a transaction
  • Analyzing customer behavior easier than before with reliable recorded data
  • Saving operating costs for business owners
  • Setting limits on manual inaccuracies

Following the Industrial Revolution 4.0, and now at 5.0, many traditional financial institutions are changing their ways of approaching more customers by collaborating with Fintech companies. According to PwC, 82% of traditional financial institutions plan to increase collaboration with Fintech in 3 – 5 years to avoid losing revenue.


With the explanation of SaaS and Fintech mentioned above, can we say Fintech is a type of SaaS? Or can we position Fintech as Saas? Well, IT DEPENDS. We say “it depends” because they have a lot of similarities in their purposes, ecosystems, applications, and so on. Therefore, it depends on the ultimate goals of the companies and how they operate their business.

As you can see, Fintech companies provide a wide range of services but mainly in the Finance area, while SaaS applications are broadly provided in different areas. Since the ever-increasing number of available services can make users unsure of what to choose, SaaS, Fintech, and other traditional business platforms should consider collaborating to introduce better and more compact services. The nuances of SaaS and Fintech can be hard to keep straight, but the value they offer to the world economy and the development of technology means they are here to stay. Therefore understanding their nuances is essential to thriving in today’s economy.