Traditional banks face fierce competition with the rise of fintech startups; digital transformation and new products and platforms are often key to retaining customers. Learn how cloud computing, AI and ML, blockchain, and (RPA) robotic process automation underpin technology trends in banking.
Mobile payment security is key for consumer-facing fintechs. Components including mobile app shielding, white-box cryptography, multi factor authentication, secure APIs, and robust cloud solutions are all must-haves, but so are technologies like artificial intelligence and machine learning that can identify irregular data patterns and suspicious transactions.
In consumer banking, Natural Language Processing (NLP) and conversational AI can power CRM software, eliminating the need for manual updates and entries. NPL enables the logging of every bit of data from conversations, and that data can help fintechs not only gauge customer satisfaction but identify trends and new markets.