Interested?

Finext Conference

Fill up the form below and show your interest. One of our representatives will soon be reaching out to you!






    <We_can_help/>

    What are you looking for?

    <Good_things_happen/> Welcome to Conference

    d

    Copyright @ Select-themes

    Follow us

    >Technology

    The Fintech industry has taken the banking system to a new level by combining artificial intelligence and data science with conventional financial services. The coming of Fintech has made the operations of traditional banking institutions better by making them quicker and more efficient.

    The Fintech ecosystem can be categorized into four:

    • Category A constitutes well-established banks and financing institutions.
    • Category B includes major digital businesses such as Apple that are indirectly connected with the finance industry.
    • Category C includes business entities responsible for the infrastructural and tech support of financial service providers.
    • Category D comprises businesses that offer services such as mobile banking, online investments, and insurance services.

    Therefore, it is evident that Fintech benefits cover all the market players in the financial sector.

    Benefits of using Fintech

    Fintech solutions provide many direct benefits to individual consumers using a mobile different applications. The smartphone revolution has largely impacted the Fintech accessibility for the common man.  But most solutions in the Fintech space primarily focus on benefiting B2B users.

    • Transparency: Transparency of data is one of the most important benefits Fintech provides to block-chain-based operations and Artificial Intelligence enabled Regtech companies. That is why Fintech solutions help to identify any ongoing fraudulent activity quickly and also generate auditable money trails. The transparency of Fintech projects has further led to the introduction of AML (anti-money laundering) and KYC (know your customer) aspects in the industry.    
    • Better decision-making: Fintech has encouraged companies to use artificial intelligence as a crucial part of their business operations. As a result, companies are able to make better decisions and strategize their business policies. Fintech provides data-driven insights and AI-powered solutions to companies to form effective strategies. These insights help companies to make well-informed decisions to generate resources and target their clients.   
    • Automated solutions: Fintech proves to be beneficial for companies as they provide automated solutions that are cost-effective and time-efficient. Easily accessible and highly automated Fintech platforms enable smooth financial operations for firms. The service providers and users can accomplish numerous tasks with ease and increased flexibility.   

    Challenges associated with Fintech

    The Fintech industry is still in its blooming phase so it still needs a lot of evolution. Just like any other sector, Fintech must overcome any obstacle that comes its way. 

    • Securing Data: Data security is one of the major challenges the digital world is exposed to including the Fintech industry. The traditional banks have security personnel, CCTVs, lockers, vaults, and highly secure infrastructure to safeguard their data. But when it comes to securing data on virtual platforms it is not an easy task. Various online applications that make use of customer data and money are exposed to online threats much more easily.
    • Compliance: The regulations and compliance play a crucial part in any financial business operations. There are various regulations and compliance laws and global rules that have been implemented in order to keep a check on the fair play by businesses. So Fintech companies have to comply with the rules and regulations of the finance sector to keep up their clients trust.

    The benefits and challenges associated with Fintech must be analyzed by companies to secure long-term success.

    Visit www.finextcon.com to know about the top Fintech leaders who paved way for real transformative development in the field.     

    The Fintech industry has taken the banking system to a new level by combining artificial intelligence and data science with conventional financial services. The coming of Fintech has made the operations of traditional banking institutions better by making them quicker and more efficient. The Fintech ecosystem can be categorized into four: Category A constitutes well-established banks and financing institutions.Category B includes major digital businesses such as Apple that are indirectly connected with the finance industry.Category C includes business entities responsible for the

    The predominant Conventional Banking system has been strongly challenged by Islamic finance which has grown manifold in the previous three decades due to its appeal of being highly ethical and fair to the stakeholders. The current size of the industry is estimated close to USD3 Trillion with a projection of it reaching USD3.7 Trillion by the end of 2024. Though still considered in its nascent stage with Islamic Development Bank, the first multilateral finance institution being founded in 1973 followed

    India’s Fintech sector attracted nearly $2.253 billion in investment in the first half of 2021. The industry witnessed a significant boost due to the COVID-19 norms of social distancing, digital account application, digital onboarding, and contactless payment. If you are discovering about Fintech Companies that are expected to make a stirring impact alongside global players this year, let’s take a look at them:

    In 2020 we saw the world come to a cold stand-still, but little did we see a rising star on the horizon. Powered by the Internet of Things (IoT), the world embraced Fintech services with open arms. Covid 19 has truly changed the landscape of how we envision financial transactions, and it turned out to be a blessing in disguise for the industry. Social Distancing has made the global landscape ripe for innovative digitization.

    Join us at the next FiNext Conference in Dubai, Feb 2 - 3, 2022