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The Future is Fintech: 4 Drivers of Change in Financial Services

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The world of financial services has reached a point of no return along the road of digital transformation. A combination of several factors is driving this shift: the rise of big data, consumers' demands for convenient and affordable financial services, and the proliferation of mobile technology are all responsible. Financial services companies must adopt automated, data-drive solutions to successfully compete against new, technology-based entrants. Although the rules surrounding developing fintech are still under construction, its potential to improve operational efficiency, safeguard investments, and fortify cybersecurity, is uncapped. At this point in the game, technology adoption is mandatory for financial institutions.


Top five technologies that will transform the Fintech sector in 2020

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Zeta, a global fintech company revolutionising the digital banking and enterprise payments space, is expanding due to the global appetite for a more decentralised banking experience.


AI Trustworthiness in the Aerospace, Fintech, Automotive, and Healthcare Industries

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Many industries are utilizing AI. However, in this paper, we look at its applications in the aerospace, fintech, autonomous vehicles, and health care industries, where better AI hardware, software, solutions, and services are creating many opportunities. Data integrity, privacy policies, decision system guidelines, and holistic regulations are continuously evolving in these industries. This ecosystem is now ripe for service providers and system integrators to play their parts, with AI adoption achieving appreciable return on investment. Key applications of AI in this space include optimizing operational efficiencies, assuring robustness of systems, data and image interpretation, and human augmented decision-making. Other applications include automation of processes and workflows, better compliance, improved performance, and reliability platforms, unmanned derivative systems (in finance) and digital and virtual assistants. Figure 1 summarizes AI's importance across the four industries discussed in this paper.1-36 The primary drivers of AI are data privacy, security, cost, risk, authenticity, guarantee and improved decision systems. Each driver has its own specific impact and relevance from a business adoption and operations perspective. The driver ensures that applications will have business significance and are attuned to regulations, while having close association with global and geography-specific ecosystems. Also, the drivers ensure quicker adoption to enhance operational efficiency, without compromising on the end-user experience. Regulatory and government bodies play a vital role in assessing and formulating guidelines for adopting AI in the business value chain.


Chatty bots and AI bank managers: getting inside fintech's future

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Fintech might have started life as a buzzword, but now it's a powerful reality. The ongoing digital revolution and the irresistible rise of technologies such as machine learning and cloud computing are on course to disrupt one of the world's most complex sectors: banking and financial services. Tech startups on shoestring budgets are increasingly carving a space for themselves in the financial-services industry, developing apps or online tools that provide new and engaging ways of saving or investing. Although many recent fintech successes – such as Funding Circle and Transferwise – mainly focused on optimisation rather than wholesale transformation, this is the calm before the storm. Over the next five years financial services are going to be revolutionised, as the sector's large incumbents seize the opportunity to embrace change.


Chatty bots and AI bank managers: getting inside fintech's future

#artificialintelligence

Fintech might have started life as a buzzword, but now it's a powerful reality. The ongoing digital revolution and the irresistible rise of technologies such as machine learning and cloud computing are on course to disrupt one of the world's most complex sectors: banking and financial services. Tech startups on shoestring budgets are increasingly carving a space for themselves in the financial-services industry, developing apps or online tools that provide new and engaging ways of saving or investing. Although many recent fintech successes – such as Funding Circle and Transferwise – mainly focused on optimisation rather than wholesale transformation, this is the calm before the storm. Over the next five years financial services are going to be revolutionised, as the sector's large incumbents seize the opportunity to embrace change.