Everything about Latest Technology Trends to Integrate in FinTech

1. Everything about Latest Technology Trends to Integrate in FinTech Fintech is capturing millions of eyeballs in the financial services ecosystem due to its innovative features. Financial technology is becoming highly effective in giving firms desired performance improvement. Over the last few years, Digital Payment Solutions has experienced tremendous growth. Consumers’ attention has shifted to digital services ultimately promoting financial system digitization as well as cashless economy. Here are the top technology trends of Fintech sector 1. Blockchain Technology The most popular technology trend in the Fintech industry is the Blockchain technology. It is a form of decentralized technology that will power the majority of the financial institutions. Blockchain is most widely related with the digital currency bitcoin. Blockchain eliminates the middleman by implementing “smart contracts” directly into the blockchain using decentralized ledger. As a result, the blockchain can make several financial items safe & secure, including futures contracts and insurance plans, safer and more stable. 2. Cloud Storage Banks can implement cloud computing to eliminate repetitive activities and function in a creative manner. Other resources offer information storage, management, and access. In addition to that cloud-based technologies assist

2. banks in developing unique solutions to improve customer experiences, personalization, as well as automation. One of the key advantages of the cloud is the feature to store and monitor vast data sets used for transaction verification. This expands their market scope to new and distant areas, breaking boundaries. 3. Voice Bot Chatbot is already a popular trend in different industries, including Fintech, and there is no doubt that this solution has helped people all across the globe, particularly when we talk about customer service and management. Customers, come across language as a barrier, which makes them unable to use multiple digital solutions. This is where the importance of voice bot can be analyzed. It helps to localize end-to-end customer and business needs. 4. Natural Language Processing Natural language processing, a key part of artificial intelligence works by generating meaning and significance from spoken and written language. It has made immense progress in the last few years. Natural language processing (NLP) offers features to extract value from Word and PDF documents, emails, log files, social media messages that make up much of the internet. Natural language processing is majorly used in banking chatbots, legal document scanning, and other finance apps. 5. Robotic Process Automation Robotic process automation (RPA) is a poplar trend for financial market players planning to automate manual processes. As profit is getting lower, increasing regulation, and interest rates reducing, RPA is perfect to enhance competitive edge and engage customers. RPA in finance differs from traditional automation rather than relying on APIs to integrate several systems within one platform, RPA notes a user’s actions in a GUI and later repeats them in the same GUI. This is quite similar to human-like automation of repetitive tasks. The correct implementation of RPA in Fintech assists in bridging the gap between different applications available in the legacy system. 6. 3D Printing and Biometric Security Systems 3D printing is the approach to build a three-dimensional object of almost any shape starting from a 3D model. Biometric scanning is an important aspect of any security system, some of which completely depends on it to identify authorized users. Biometrics are more secure than passwords, but the hacker community can’t be underestimated. 3D printing is a promising trend to address card-based fraud at the ATMs.

3. Wrapping Up: FinTech has different trends for guiding the finance industry. The benefits speak for itself. And from this discussion, we can easily conclude that latest trends are delivering as per the market behavior. In order to leverage the benefits, it is important to consult FinTech Software Development Company for trusted results. Reach out to a professional who believe in the latest innovations of the tech.