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The banking, financial services, and insurance (BFSI) industry has undergone a paradigm shift with the advent of new IT technologies. Developments in IT sector and their deep penetration in financial sector has thoroughly transformed multi-channel environment and boosted the applications portfolio of service providers. Banks and financial institutions are making steady developments in adopting various IT services to modernize payment systems and boost business intelligence & customer relationship management (CRM). Reports by Allied Market Research offer analysis of product portfolio of various financial service providers and insights into technology trends that have bolstered the operational efficiency.
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Budgeting software aids in the planning and allocation of personal expenditures. Unlike accounting software, which primarily focuses on tracking what we spent or owe, budgeting software is proactive, allowing one to allocate ...
Blockchain is a method of storing data that makes it difficult or impossible to change the data. A blockchain is a digital ledger of transactions that is duplicated and distributed across the ...
A chatbot is an artificial intelligence-powered application that communicates with human to solve a problem or respond to a question. With the help of robotics and artificial intelligence (AI), a chatbot can ...
A point of sale (POS) system is a computerized cash register replacement. The system can track and process customer orders as well as swipe credit and debit cards and manage inventory. In ...
The A2P messaging in BFSI market refers to any type of message traffic in which a person receives messages through an application from financial institutions. In addition, one-time password, marketing messages, chat ...
Advanced authentication in financial services helps in providing seamless services to end users and also helps organizations for circulating sensitive information across the corporations. The demand for data sharing has risen dramatically ...
Artificial intelligence (AI) infusion is one of the most recent trends in the banking industry. By incorporating artificial intelligence (AI) into the contact list, organizations can improve the customer experience. Banks have ...
Application Programming Interface (API) serves as a connection between a programmer and the applications he develops. It serves as a contract between two software components, allowing them to agree on how to ...
Cybersecurity is referred to as the measures taken to keep electronic information private and safe from damage or theft. It is also used to prevent the misuse of electronic devices and data. ...
Digital Account Opening Market By Type of Account (Current Accounts, Savings Banking Account, Recurring Deposits and Fixed Deposits), Deployment Model (On-Premise and Cloud), Type of Bank (Corporate Banking and Retail Banking) and Enterprise Size (Large Enterprise and Small & Medium Enterprises): Global Opportunity Analysis and Industry Forecast, 2021–2030
Lenders use digital mortgage software to manage the entire mortgage process, from application to closing and funds release. These tools simplify the borrower experience by automating the majority of the process for ...
Digital process automation is a method of automating processes and streamlining workflows by utilizing digital technology, where the integration of Artificial Intelligence (AI) and Machine Learning (ML) technologies is one of the ...
An electronic payment system (e-payment system) is a way of making transactions or paying for goods and services without using checks or cash. It is also known as an online payment system ...
Financial fraud detection software (FFDS) is a technological solution for tracking and scoring monetary transactions. It allows users to detect fraud related to online financial and electronic payments. Fraud and consumer analytics, ...
An intelligent virtual assistant (IVA) is a type of artificial intelligence system that mimics human interaction to perform specific tasks, such as customer service. Deep neural networks, machine learning, and other advances ...
A software agent known as an intelligent virtual assistant (IVA) can perform tasks or provide services for a person in response to commands or questions. The term "chatbot" is sometimes used to ...
Internet of Things (IoT) refers to computing devices embedded in everyday objects that are connected to the internet and can send & receive data. The ability of IoT devices to communicate with ...
The Internet of Things (IoT) is a cross-industry, global trend driven by the development of programmable devices and sensors and Internet connectivity. The majority of those devices are connected to the Internet, ...
The Internet of Things (IoT) is the autonomous communication between objects that enables operations to be optimized, costs to be reduced, productivity to be increased, and lives to be improved. Furthermore, the ...
Fingerprint sensors are used in payment scanners and other fingerprint detection devices. These devices have a fingerprint detection module built in and are used for security and authenticity of consumer data. The main characteristics of a fingerprint scanner are accuracy, improved performance, and robustness, which are based on specialized fingerprint technology.
The banking industry houses a large amount of consumer data and is constantly striving to provide the best services to its clients. In such a scenario, cloud computing technology serves as a ...
A contactless smart card is a contactless credential with credit-card sized dimensions. Its embedded integrated circuits can store data and communicate with a terminal using near-field communication (NFC). Since the chip is ...
Credit management software automates and prioritizes the credit management process. Simultaneously, it aids in the completion of a variety of day-to-day tasks performed by credit management department team members as well as ...
The digital or virtual money in the form of tokens or coins is known as cryptocurrency. Customers can buy bitcoins with cash deposited at an internet-connected kiosk. A crypto ATM is not ...
Credit risk management is the process of minimizing losses by determining the adequacy of a bank's capital and loan loss reserves at any given time – a process that has long been ...
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There might be something that we haven’t covered in the scope and if it is as per your specific areas of interest, we can anytime customise and incorporate your requirements in the framework of the study and provide you with a customised report based on your exact needs.