As a result of recent advancements in technology, people’s banking practices have changed due to fintech’s significant impact on the banking industry. Fintechs are decreasing banks’ major roles such as money transferring and allowing institutions and individuals to offer better, faster, and less expensive services. Banks can benefit from fintech startups’ specialized services and solutions, such as risk analysis, large transaction volumes, and less transaction time. The impact of technology on banking services is putting not only the traditional banking business model, but also the old financial regulatory structure to test, resulting in a shift in banking business models as well as financial services principles.
Blockchain plays a significant role in the management of data breaking and other fraudulent operations to enable fintech businesses to share and transfer safe and unaltered data through a decentralized network. Fintech built on the blockchain allows for quick money transactions, top-notch security, and transparency in financial tracking.
Banks are using Artificial Intelligence to analyze data in real-time. Artificial intelligence, machine learning, and bots offer the potential to enhance capabilities, cut costs, and improve client experience. Financial firms also use AI to make better investment decisions and better manage people’s asset portfolios.
At this juncture, various Fintech Solution Providers are entering the market to cater to the different needs of enterprises. To help them choose the solution that best fits their requirement, Banking CIO Outlook has compiled a list of the most promising Fintech Solution Providers. Besides, the magazine also comprises insights from thought leaders in the sector on the industry trends, best practices, recent innovations, and their advice for aspiring CIOs.
We present to you Banking CIO Outlook’s ‘Top 10 Fintech Solution Providers - 2021’.