Fintech, the portmanteau of finance and technology, represents a powerful synergy of these industries and assures to take modern banking to a new level. The finance sector is largely dominated by advanced technological innovations that have influenced the way this sector functions. Fintech is considerably improving customer experience over the years, providing institutions with new opportunities that expand far beyond traditional banking services.
Banking and financial services are already using technologies like Artificial Intelligence and machine learning to reduce errors and offer a more streamlined digital banking experience to the consumers. And, as 2020 unfolds, there is no surprise that these industries will continue to embrace these technologies to improve their productivity and efficiency further. Going forward, more organizations will turn to blockchain to decrease fraud and manage both regulatory and audit concerns. Plus, blockchain integrated with more devices in the world of the Internet of Things (IoT) will expedite processes like asset and money transfers, payments, and investments and eliminate processing mistakes that cause delays. With technology like robotic process automation (RPA) software, machines make quick work of tedious and repetitive data entry, allowing financial institutions to focus on customer service improvements instead of being bogged down by data collection.
In this edition, CFO Tech Outlook has compiled a list of top 5 Fintech solution providers in Europe that helps banks and other financial institutions harness the power of technology to tackle day-to-day challenges. We hope this issue of the CFO Tech Outlook helps you build the partnership you and your firm needs to foster a technologically-driven financial environment.
We present to you, CFO Tech Outlook’ “Top 5 Fintech Solution Providers in Europe - 2020.”
