Digital Transformation in Financial Sector

Trends in Financial Sector

1. FinTech Solution

 Provide greater convenience, accessibility, and flexibility

 Improve financial inclusion.

2. Real Time Data Visualization

 Accelerates decision-making and helps organizations stay ahead.

3. Digital Payment
 Replacing traditional payment methods, such as checks and cash.
 Includes electronic fund transfers, mobile payments, and contactless payment

4. Robo-advisor
 Uses algorithms to provide automated investment advice
 Low cost alternatives

5. Blockchain Technology

 Transparent and immutable record of transactions

 Decentralized, not controlled by a single authority or organization.

6. Big Data

 Large and complex data sets processed easily

 Use 3V’s; Volume, velocity & variety

7. Digital Customer Experience

 Provide a seamless and positive experience for customers

 Interact Customers digitally through website, social media, chatbot

8. Cybersecurity
 Multi-factor authentication, encryption, and biometric verification to protect
customer data