Blockchain, cloud computing, and AI/ML have revolutionized the financial industry, but RPA (robotic process automation) delivers very particular benefits: It relieves employees from repetitive tasks so they can devote more time to more complex tasks, makes KYC and AML compliance easier, and streamlines account creation for customers.
“Insurtech” has demonstrated just how dramatically financial technology can overhaul an entire sector and improve everything from payments and process management and analytics to the mobile customer experience. Insurance industry leaders now routinely rely on technologies including IoT, AI, robotic process automation, telematics, and cloud computing.
As a lynchpin in the banking and finance industry, data science can help companies conduct algorithmic trading, financial scoring and risk analysis, and real-time and consumer analytics. By combining artificial intelligence and data science, fintechs can make predictions and tap new pools of customers quickly.