Banking, Capital Markets and Fintech

Banking, Capital Markets and Fintech

The banking industry is in the transition stage, new-age technologies such as Artificial Intelligence, robotics are driving the change worldwide. Banks need to keep the pace with technology, best quality at economical rates, technologies such as Artificial Intelligence, blockchain makes this possible. Banking sector needs to be charged up and take action, they have to win the competitive game. Apart from being digitally equipped this is also about, retaining the revenue in the sector. Since the investors view a technologically advanced sector as a viable option. Neo-normal is the reality, that has to be taken as a challenge, and make things easier for banks and their customers.

The capital market deals with a huge amount of investment, it cannot be risked on instinctive readings in the age of Artificial Intelligence. The companies have many avenues to tackle - focus on value creation, win over loyal customers and expand the wallet size. Data analytics, along with artificial intelligence and machine learning, can open new doors, for achieving these gaols. Till date organisations are using obsolete methods, limiting the capacity to which their data can be evaluated to its 100% potential. Through AI, companies can gain a perspective, where the data can predict accurate results.

Financial Technology is the hero that is going to transform the financial sector! All the tech that goes into improvising and automating the traditional practices in the finance industry is referred to as Fintech. One of the major functions it offers is app development for verticals such as loan, investment, digital banking, wealth management and more. Currently payment processing is a major hit, considering the rise of e-commerce industry. There are different methods of making payments, transactions are carried out by debit/credit cards or digital wallets. This becomes a costly proposition if done through traditional banking, the businesses have to pay huge amount of processing fees.

Fintech can bring various payment options onto the merchant’s website at a lesser cost, the customer also reaping its benefit in the end. Security in the form of fraud analytics is another advantage, for instance if there a suspicious transaction pattern is detected or sourcing is from an unidentified country, AI will immediately track all the red flags. Algorithm study will bring out the fraud practices carried out on a company’s or individual’s financial dealings.

AI is also implemented for advisory purpose. It can study the history of the client and based on the market condition, advise the customer for future investment plans, this being an economical service, as compared to human advisory. Apart from being cost effective, secure, technology in the finance industry has also bought in convenience, flexibility and speed. One can safely carry out their financial transactions anytime from anywhere. Progressive AI Data has been providing these and other related services to our customers, playing its part in the flourishment of the fiscal economy.