What technologies are used in FinTech?
What technologies are used in FinTech?
Where to begin?
FinTech has embraced technology the way a farmer embraces the field!
From every area of Machine Learning and Artificial Intelligence to you can imagine.
Companies are using Deep Learning Ai to assess physical spaces quickly.
Other firms are looking to robotics to provide automated customer support.
Moreover, if there is a technology out there. FinTech will search it out and apply it to an area it can provide value.
Just look at Blockchain technology.
That has empowered a host of various FinTech industries alone. Just think of Crypto and insurance and lending. There is so much Blockchain can offer.
Furthermore, consider simple Ai, not even the most advanced Ai out there.
FinTech can utilize simple Ai for managerial and accounting, annoying nitpicky tasks. Consider Rho business banking. They use simple Ai to help companies manage their payroll and spending. Or there are cool ideas like RAMP which uses AI to figure out where a business is spending and then negotiate a lower rate with that business or supplier. So not so good for the 3rd party vendor. Which is a bummer. We love FinTech that supports all aspects of the ecosystem.
Thats when adoption grows.
In conclusion, as technology further finds momentum and scope. The FinTech industry will follow closely behind. Taking what new discoveries arise. And moreover, applying those discoveries to any part of the business world possible.
