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The Future of FinTech Industry

Technologies that Shaping the Future of FinTech Industry
Software Development

The Future of FinTech Industry

“At the end of the day, customer-centric FinTech solutions are going to win says Giles Sutherland.”

Here are our checkpoints to walk through today:

What is FinTech?

Technologies Shaping the Future of FinTech

Technologies Shaping the Future of FinTech

1. Artificial Intelligence

Use Cases of AI in FinTech

By incorporating chatbots into virtual support to respond to customer questions and make recommendations.
Making use of AI algorithms to analyze suspicious activity to prevent fraud.
To enable human-like interactions with virtual assistants and enhance client engagement, natural language processing (NLP) is being introduced.

2. Cloud Computing

Use Cases of Cloud Computing in FinTech

It securely and reliably stores and manage data.
It enables companies to make use of deft financing, payment, and fraud prevention strategies.

3. Blockchain

Use Cases of Blockchain in FinTech

Blockchain decreases the transaction cost.
It resolves identity theft issues.
It enhances regulations and auditing.

4. IoT

Use Cases of IoT in FinTech

Identify the demographics and preferences of the customers with personalized offers.
Collect the data efficiently with IoT and use it for business improvement and analysis.
Enhances security and ensures that the information is not tampered with.

5. Low Code/No Code

Use Cases of Low Code/No-Code in FinTech

Accelerate and enhance the client onboarding process.
By deploying new software much more quickly than with conventional development techniques, you can react to regulation changes.
Get help with logistics nightmares caused by local and traditional trading laws.

6. Open Source and SaaS

Use Cases of Open Source and SaaS in FinTech

It increases the aspect of predictability.
It offers ease of access to applications.
It minimizes the on-site labor.

7. Open APIs

Use Cases of Open API in FinTech

It makes the aspect of personal financing much easier.
Consumer lending becomes easier and simpler with open API.
The feature of buy-now-pay-later with open banking makes it easier to sell more products by providing customers with short-term, interest-free payment options.

8. Robotics

Use Cases of Robotic Process Automation in FinTech

Making real-time requests to internal and external systems to authenticate data during KYC is made easier thanks to it.
It eliminates errors and enhances data management and cost efficiency.
Robotics makes it easy to track accounts and send automated notifications.

9. Machine Learning

Use Cases of Machine Learning in FinTech

ML in FinTech means more loan approvals with lower risks.
It can assist companies in outwitting thieves and hackers.
ML in banking and finance enables businesses to adhere to constantly evolving rules.

What is the Next Massive Thing in the FinTech Industry?


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