AI
Artificial intelligence allows for next-generation fraud monitoring and AML, while delivering hyper-personalization, higher approval rates, fewer declined transactions, and proactive credit limit management.
Research shows that nearly 3 trillion transactions, worth US$48 trillion, are expected to shift from cash to digital payments in this decade.
What’s more, according to a McKinsey survey of US consumers, more than three-quarters of Americans use some form of digital payment — browser-based and in-app online purchases, in-store checkout with a mobile phone and QR code, or person-to-person payments.
The winners in the digital payments space are not waiting for change — they are already harnessing first-mover advantage to evolve their businesses. Here are just a few benefits you and your customers can get:
At iTechArt, we care not only about what latest and greatest technologies we use, but also about how they can be used to completely redefine your unique business.
Artificial intelligence allows for next-generation fraud monitoring and AML, while delivering hyper-personalization, higher approval rates, fewer declined transactions, and proactive credit limit management.
The implementation of machine vision and facial recognition reduces the KYC process to minutes instead of hours, helping banks attract more customers and utilize the resources saved to perform other mission-critical tasks.
IoT helps banks and fintech companies drive innovation through the use of NFC chips, sensors, tracking devices, etc., safely exchanging information with nearby systems and processing contactless payments on demand.
Blockchain technology could facilitate faster payments at lower fees than banks, providing trusted real-time verification of transactions without the need for any intermediaries.
Data security is among the top challenges banks and payments providers face today, because one smallest vulnerability can compromise your system security which consumers care about deeply. We use only the proven techniques and industry best practices to help you introduce secure payments and help you avoid fraud.
Whatever the size or complexity of your AI app, our team has the expertise to deliver.
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