FinTech Trends for 2021

Micro-Services

Micro-services help Fintech with the flexibility required to create innovative technology.

Micro-services are developed to solve the problem of monolithic design by breaking up applications into smaller  independent services. As they offer a unique technology proposition and allow the development of independent applications, it is possible to meet specific business requirements.

Artificial Intelligence and Machine Learning

Artificial Intelligence and Machine Learning systems enable companies to better monitor customer behavior and detect opportunities and anomalies. In comparison with traditional banks Fintech companies provide a highly customized, personalized service by combining technology and human skills in the best way possible.

Some of the areas where AI/ ML will prove effective include regulations and policy, algorithmic trading, banking chatbots, and fraud detection.

Open Banking

Open Banking will enable data networking across banks. This model forces every bank to release data securely so that authorized information can be shared easily on multiple platforms.

Innovative payment options

Innovative payment options are taking over the e-commerce industry. We have seen mobile wallets, mobile payments, contactless payments, AI for security, ID verification tech, and smart speaker system.

Predictive Analytics

As cyber-security continues to be one of the biggest challenges that the financial industry faces, predictive analytics will play a huge role in helping prevent fraud and strengthen cybersecurity measures. Besides, predictive analytics also helps the industry improve customer experience, identify ways employees can add value, and improve operations.

Shall you have any questions, please do not hesitate to contact us by e-mail: sales@mayon.solutions.