Fintech or financial technology is in demand these days because of the perks that it presents to the user base and financial organizations. The trend is modifying our relationship with conventional banking/ financial institutions by bridging the gap via accessibility.
It majorly covers the underserved domains of
banking or unprofitable areas like low-margin business models and retail
banking. It also delivers the opportunity to boost inclusiveness & enhance
the trust level from the user base.
Influenced by the benefits, the era of fintech
app development has just begun. Therefore, today we will be talking about the
trends in the domain that would fuel the progress further.
Here is the list of top trends presented by a
leading fintech app development company. Take a look!
- Intelligent Chatbots
These are smart Ai-based programs that have the
potential to stimulate conversation with a user through voice, video or text
messages. Chatbots are largely being used to enable on-point customer support.
It operates as an automated customer service provider that answers simple
queries.
2.
AI technology
Artificial intelligence presents a great
opportunity to the banking industry. From making accurate predictions and
identifying the historical data patterns to delivering analytical insights and
gathering unstructured Big Data, AI integration in banking can open up a lot of
scope to improve the functioning.
3.
Blockchain
It is one of the most versatile technologies of
all time. Just like in banking, this tech has the ability to help multiple
other industries from healthcare to retail. Banking sector has already
initiated the use of blockchain in their application, but still there is a long
way to go. Blockchain not only reduces the security threat but also enhances
the operational efficiency.
Content Source: https://financetown.net/these-fintech-app-development-trends-are-changing-the-face-of-banking/
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