From the very first ATM in the 1960s to the rise of smartphones leading to mobile banking in the 2000s, and now in the booming digital era with super apps and fintechs, the financial industry has evolved to improve the customer experience. While customers may choose a financial product or service for its function and features, user experience is what makes them stay. 

With thousands of fintechs being brought to life, customer expectations and financial needs have evolved. COVID-19 accelerated the fintech mass adoption for consumers with eighty-eight percent of U.S. consumers using technology to manage their finances in 2021. Money transfer and payment service technology was adopted the most with seventy-five percent of global consumers as of 2019. With such growth, traditional offerings are not enough. Consumers now need more technology-based personalized products, which requires fintechs to promptly adapt.

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