Silicon Canals
TRENDING
  • Mobility
  • AI
  • FinTech
  • Software & SaaS
No Result
View All Result
  • Home
  • News
    • COVID-19
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
  • Features
    • Promoted content
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Scaling-up in Europe
  • Amsterdampartner
  • Events
  • Newsletter
  • Jobs
  • About
    • Partner with Silicon Canals
    • Team
    • Contact
  • Home
  • News
    • COVID-19
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
  • Features
    • Promoted content
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Scaling-up in Europe
  • Amsterdampartner
  • Events
  • Newsletter
  • Jobs
  • About
    • Partner with Silicon Canals
    • Team
    • Contact
No Result
View All Result
Silicon Canals
No Result
View All Result

These are the 8 digital trends set to disrupt fintech in 2019

Editorial team by Editorial team
August 27, 2019
in News, Cybersecurity, FinTech, Software & SaaS
0
These are the 8 digital trends set to disrupt fintech in 2019
119
SHARES
LinkedInTwitterWhatsAppFacebook

At present, Fintech is the buzzword within the banking industry. Ever since the global economic crisis, the financial services industry has seen massive disruption, including new regulatory frameworks, greater transparency, and data protection, and much more.

Simultaneously, fintech businesses continue to grow and diversify at an exceptional rate and encroach on the establishment. Alongside, these changes, there are developing technologies, ranging from blockchain, big data, to artificial intelligence (AI) and digital payments creating a multitude of opportunities.

 - Partner content -
Cost of software - The Software house
The cost of building software
Marek Gajda, CTO of The Software House, shares his insights on building high-quality...Show More
Marek Gajda, CTO of The Software House, shares his insights on building high-quality software. Show Less
Read more

According to Dan Cohen, Senior Vice President, Global Financial Services and Insurance at Atos, “Banks are at a crossroads. Continuous finTech innovation and new technologies such as blockchain are disrupting the market. While it creates threats, it also opens multiple opportunities for financial services to reinvent themselves and thrive.”

Having said that, future technologies will be more customer-centric and efficient, providing more secure and intelligent solutions. This will help the organisation to be more responsive and competitive to marketplace needs. In this article, we have listed e8 technologies anticipated over the next five years in the financial service industry.

Hybrid Cloud

The hybrid cloud is gaining popularity and becoming mainstream in banking as well. With this technology, banks get both the flexibility and benefits of private and public clouds while addressing data security, governance, and compliance. It has various advantages as well, including improved operational efficiency, enhanced innovation, and reduced costs.

API platform

Any financial service firms that want to thrive in this digital era must consider embracing Open Banking APIs. Furthermore, Open Banking APIs are valuable assets for the organisations as it enables them to enhance their service offerings, build new digital revenue channels and improve customer engagement.

Robotic Process Automation (RPA)

Robotic Process Automation or RPA refers to the usage of software robots which are slated to complete repetitive and labour-intensive tasks. Ideal for numerous banking applications, RPA can reduce manual workload so that human employees can focus on intricate banking operations work and decision making.

Artificial Intelligence

Using Artificial Intelligence in banks can help organisations overcome traditional customer service challenges and bring the power of data analytics to combat fraudulent transactions and improve compliance. Various features like AI Chatbots, digital payment advisors, and others lead to quality service to a broad customer base. This, in turn, increases revenue, reduced costs, and boost in profit.

Blockchain

Lately, cryptocurrencies are taking the banking world by storm by offering users with faster and cheaper ways to transact. Implementing blockchain technology could potentially save banks billions in cash by drastically reducing processing costs. In fact, a lot of banks are trying out blockchain which could be used for money transfers, record keeping, and other back-end functions.

Prescriptive Security

The pressure on banks and insurance companies is at a peak as the digital disruption opens up new opportunities for cybercriminals and cyber attackers for money laundering to violating trade embargos.

Having said that there are advanced analytics, real-time monitoring, and other tools to detect potential threats and stop them before they strike. While the short-term might seems risky, but the long-term prescriptive security may improve its effectiveness.

Quantum computing

The buzz around quantum computing isn’t settling down. Quantum computers use the fundamentals of quantum mechanics to speed up complex computation solving. All quantum computation processes are made of one-qubit and two-qubit operations that are the central building blocks of quantum computing.

Notably, Quantum computing could unlock new opportunities for banks in risk assessment and trading, allowing them to make computations much faster.

VR and AR

Virtual Reality and Augmented Reality are being used by many financial institutions to help improve the experience of their customers. Both AR and VR offer customers and employees a rich visualization of data and services through the immersive projection. Many analysts believe that AR and VR could be utilised to give customers autonomy in terms of at-home banking.

Stock Photos from  ImageFlow/Shutterstock

Stay tuned to Silicon Canals for more updates in the tech startup world.

Nuclear power for your b2b-startup: 5 reasons why you should join the Comet Competition

close

Want to stay on top of the latest rounds, coolest tech and hottest startups?

Subscribe to our free, daily news blast and stay up-to-date!

Check your inbox or spam folder to confirm your subscription.

 - Partner content -
Nebula CTO Andre Witte
Cloud spend management 😱
Tracking cloud spend can be tricky. Learn from Nebula's CTO Andre Witte how to keep the...Show More
Tracking cloud spend can be tricky. Learn from Nebula's CTO Andre Witte how to keep the costs at bay in 2021. Show Less
Read more
Tags: cybersecurityFinTechSaaS
Share7Tweet24SendShare62

Featured events

07apr10:0012:30FeaturedWorkshop: pr for startupsHow to grow your startup with the help of public relations

Partner content | Work with us

Future Hamburg Award: Looking for the best startups to forge the city of the future

The Humblebrag launches online course to help emerging leaders amplify their visibility and voice

Blue Tulip Awards announce 5 finalists in the Food & Water and Education & Employment theme

Impact media foundation 5 Media offers grants up to €100,000 per year to drive a sustainable future

Here’s how cryptocurrency will take over the world

Breaking news from Amsterdam | Partner

Amsterdam’s Crisp raises €30M: Here’s what this online-only supermarket plans to do with this capital

Amsterdam-based Tellow’s parent company raises €60.2M: An interview with Thomas Vles, Tellow’s new CEO

Amsterdam-based fast-charging startup Fastned charges itself with €150M through accelerated bookbuild offering

Amsterdam-based Founda Health raises €12.3M to build infrastructure for global healthcare sector; here’s how

  • About Silicon Canals
  • Partner with Silicon Canals
  • Contact us
  • Newsletter
  • Disclaimer
  • Privacy policy
  • Terms & Conditions Silicon Canals

Silicon Canals 2014-2020 | Website: Bright Idiots

No Result
View All Result
  • Home
  • News
    • COVID-19
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
  • Features
    • Promoted content
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Scaling-up in Europe
  • Amsterdam
  • Events
  • Newsletter
  • Jobs
  • About
    • Partner with Silicon Canals
    • Team
    • Contact

Silicon Canals 2014-2020 | Website: Bright Idiots

X

This website uses cookies to ensure the best possible experience. We may share this information with our advertising and analytics partners. By clicking 'Accept', you agree to our use of cookies and similar technologies. More info