What is FinTech- Financial Technologies- Mobcoder - PowerPoint PPT Presentation

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What is FinTech- Financial Technologies- Mobcoder

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If you want to know about fintech then you must check out this presentation. Here you will get the basic points about fintech or technology in finance. A fintech is an abbreviated form of Financial Technology. It is also used as a collective term for all the technology in the financial sector. From a technical perspective, it is the seamless integration of technology in the finance sector to produce fast, accurate & efficient solutions for both consumers and businesses. – PowerPoint PPT presentation

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Title: What is FinTech- Financial Technologies- Mobcoder


1
What is FinTech?
  • FinTech Projection for 2021 And Beyond!!

2
FinTech
  • In the most succinct terms, a Fintech is an
    abbreviated form of Financial Technology. It's
    also used as a collective term for all the
    technology in the fiscal industry. From a
    technical standpoint, it is the seamless
    integration of technologies in the finance
    industry to produce fast, efficient accurate
    solutions for both consumers and businesses.
  • FinTech has empowered the banking sector to
    become smarter and faster than ever. And as we're
    flourishing in the Business 5.0 ecosystem and its
    prevalent electronic breeze, the adoption of
    FinTech technologies in the kind of programs and
    sites is also widespread.
  • Now, it's time to learn more about the trends
    that set the vision forFinancial Technologyin
    2021 and beyond that and make the fund world more
    convenient, fast, and secure.

3
Financial Inclusion
  • According to the statistics presented by the
    World Bank, about 69 of the adults in the world
    (about 3.8 billion) have access to a bank account
    or another party money supplier. But a possible
    number of 1.7 million adults stay unattached into
    the banking system, even though 75 of these have
    mobile phones which can make them an essential
    part of technology in the fiscal sector.
  • Most of these people today belong from developing
    countries, so the driveway of fiscal inclusion
    must begin from such lands. But, thankfully, the
    penetration for mobile phones is full of such
    territories, so it is time for the financial
    institutions and services to include this people
    in the banking community through Fintech
    providers and branchless banking.

4
Robotic Process Automation
  • Have you ever heard about the electronic work?
    All these are software robots under robotic
    process automation to automate certain tasks
    generally performed by individuals. And as the AI
    technology evolves more, the process will enhance
    and optimize all the finance-related processes.
  • Talking about its adoption, many financial
    institutions and providers have already adopted
    RPA in their various operations like Account
    Transactions and Maintenance, customer
    onboarding, loan processing, Generation of
    installments, and much more. RPA completes these
    tasks at a rapid pace with zero errors so that
    firms can concentrate on the part of revenue
    generation and customer retention.

5
Big Data Management
  • Data is the most appreciated yet underrated
    currency on earth. It carries the identical
    importance in the finance domain as others.
    Today, all financial institutions collect a
    massive amount of information daily. The majority
    of the information is unstructured and must be
    processed via analytical capability to determine
    future business prospects, related risks, market
    tendencies to earn future-proof strategic
    decisions.
  • Well, all of the information is not cluttered,
    since the loan software, tax documents, and bank
    statements are nicely structured and organized.
    When an organization manages all this data
    analytically, it may overtake future business
    prospects, identify future-proof products, and
    will automate essential services.

6
Digital-First Collaboration
  • Recently, a report has been presented by IDG
    research to showcase the company impacts of this
    Covid-19 pandemic. The report said that about 40
    of workers are anticipated to be working remotely
    at least till January 2021. It implies that the
    monetary institutions will need better electronic
    tools to ensure secure access to files and ease
    collaboration.
  • And to ensure data safety and error-free
    operations, a dedicated method for viewing,
    viewing, and managing files has to be there, as
    the use of third party solutions can pave the way
    for data theft. When the features are integrated
    using the fintech software, institutions can
    continue to keep their records safe within a
    secure infrastructure.

7
Voice Search Integration
  • Voice is the future. It's no longer a buzzword as
    most of us have a digital assistant in our
    houses, offices in our minds, telephones,
    gadgets, and much more. Quoting a figure from
    2019, there about 3.25 billion electronic
    assistants were functioning. Founded in the USA,
    a significant 72 of the populace use voice hunt
    to seek advice.
  • Today, voice orders about 50 percent of the
    searches, and it is likely to penetrate the
    fintech sector as well. In terms of functioning,
    voice hunt could be integrated to perform tasks
    on getting credit balance, overdue, as date,
    request statements, initiate service requests,
    assess market conditions for investments, and
    much more. Tech in fund may also use voice for
    collecting data for information for better
    customer services.

8
RegTech in Financial Sector
  • RegTech means regulatory technology. It is
    related to offering technology advancements to
    regulate the financial sector. That is the reason
    why businesses spend a large amount of sum to
    avert any kind of breach.
  • The technology enables financial companies to
    harness software to simplify compliance
    procedures with the present law framework. The
    regtech alternative is divided into identity
    management, regulatory reporting, transaction
    monitoring, hazard management, and compliance
    software.
  • What's more, it guarantees agility, analytical
    capability, and protected transactions.

9
Read Our Full Blog Here
  • https//mobcoder.com/blog/what-is-fintech/
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