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Enterpreneur from Toronto on 3 ways Fintech is Revolutionizing Banking

Enterpreneur from Toronto on 3 ways Fintech is Revolutionizing Banking

Fintech News reported several days later that Argentina’s financial technology industry was also booming according the data from Camara Argentina de Fintech.

Fintech helps people make better decisions about their money.

So which technologies are transforming Bardya Ziaian banking?

Artificial intelligence

Is it possible to say that AI or AI is going to transform almost every industry in the near-term?

Fintech innovation has made it possible for this to happen.

Ziaian indicated that it should not be surprising that banking is experiencing an AI revolution. This is because innovations can help save money.

AI will take over many jobs that were previously performed by humans.

Faster, smarter payments

Customers are now accustomed to being able to make and accept payments from their smartphones. The result is that electronic money exchange has never been quicker, easier or more secure.

The trend to same-day payments is all around. Deloitte explains that fast payments enable individuals to be paid faster and businesses to have greater work capital control. It’s a step towards eliminating the batch processing system in financial institutions and could revolutionize correspondent banking.

The pandemic caused eCommerce growth to soar. Businesses are now turning to financial services providers to learn new ways to boost social media marketing and to ensure seamless digital payments.

Improved safety

As the economy moves online, more and more money is brought with it, thieves also move.

Cybersecurity saw a significant increase in theft online in recent years, which is almost an inevitable consequence of the rise of mobile banking. Although two-factor authentication has been implemented by Fintech leaders, fraud continues to be a problem.