For AML purposes, AI can provide financial institutions with a wider range of customer data that can be used in risk assessments, suspicious activity reports, and investigations.
Another major element that has altered the face of fintech is the widespread use of smartphones, which has given millions of individuals across the world access to the internet.
Increased cryptocurrency-related scams, data breaches, and more widespread frauds and identity thefts are among Palo Alto Network's top cybersecurity predictions for 2022. Defining Fintech as the next stage of financial service innovation combines financial and technology. There are two main components of Fintech: technical breakthroughs in the traditional banking sector
The accounting software uses Business Intelligence (BI) technology to analyze the data for effective decision-making. Business reports are crucial for maintaining your financial health.
Nearly every component of the FinTech ecosystem is likely to be impacted by a cybersecurity threat, either directly or indirectly.
Several surveys conducted by these healthcare facilities say that more than 80% of the patients prefer paying through a digital platform, as it is a secure mode of payment.
Fintech improves the way consumers interact with money — from mobile payments that provide convenient cashless transactions to artificial intelligence solutions that decrease the risk of fraud.
Scalability is one of the biggest issues in the blockchain and is tackled cleverly in Ethereum 2.0.
With futurists looking to re-invent the asset management value chain and consumers demanding more client-centricity, can tomorrow's wealth management solution be led solely by tech?
One of the most talked about events in the crypto-world is the release of Ethereum 2.0. It is making the move from a Proof-of-work mechanism to a Proof-of-Stake mechanism.