5 Trends That Will Transform the Financial Sector in 2017

///5 Trends That Will Transform the Financial Sector in 2017

Tools based on technologies such as electronic information, biometric validation, electronic signature and digital credit become essential elements to manage a better service.

The rise of technology and the emergence of futuristic tendencies such as Machine Learning, Artificial intelligence and robotics are shaping the future of innovation, creating advanced electronic processes that facilitate the work of employees and companies around the world.

This new era of electronic processes is revolutionizing the way people interact with organizations. Changes are taking place when purchasing credits, making payments or any other activity related to financial products.

The technology applied to the electronic field becomes a driving force for the significant changes in the financial sector during 2017. The information contained in electronic forms allows creating processes addressed from trends such as artificial intelligence or robotics. The growth of the market indicates that more and more technology becomes a critical component for business success.

Here are 5 technological trends that will transform the financial sector in 2017.

Electronic Forms

Today companies seek to renew business processes through innovative tools that allow them to be more efficient in the face of their customers and the challenges of the market.

In the financial sector, containing information electronically will be a key factor in improving response times and creating models of care that meet the needs of users, through the acquisition of banking products and facilitating electronic payment means, to the Asset management, insurance, and capital markets.

Biometric Authentication

It is a digital process that allows entities in the financial sector to carry out processes to identify people and avoid impersonation. Through finger capture and verification, the entity reconfirms the identity of the customer.

It also functions as an electronic signature in advanced processes where innovation and electronic information play a fundamental role for the success of specific processes. It also reduces costs and improves customer response times.

Electronic signature

It is a set of electronic data that are linked to a key and are used to identify the signing person and detect that the document has not been modified after this process. This firm allows the sector and the user to carry out banking operations quickly, effectively and safely.

Digital credit

A trend that allows the banking industry to grant loans in less than 20 minutes, which makes it easier for the client to make immediate purchases from anywhere.

Under this new modality, customers can cash the use of a credit card in record time. It also optimizes the user’s time, as it is not necessary to complete the form by hand, which avoids human errors and makes the process easier and more effective.

Machine Learning, Artificial Intelligence, and Robotics

These innovations have penetrated heavily in the market. According to a PWC report, the application of robotics and artificial intelligence in the financial sector will evolve in a way similar to the arrival of ATMs.

It is estimated that by 2020, there are twenty times more data in the world than we have today. This will be a great opportunity for financial institutions to understand, in real time, the behaviors and needs of their clients. It is how data analysis will become a key tool for the growth of this sector.

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By |2017-01-10T04:45:14+00:00January 10th, 2017|Current Events, Lifestyle|0 Comments

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