What impact are fintechs having on the financial sector?
With their simple, digital customer solutions, fintech companies are driving the financial sector towards more digitization, automation and digital functions. Examples include mobile payment apps, crowdfunding platforms and robo-advisors.
Fintech companies aren’t just digitizing traditional banking services, but also internal procedures and processes. Thanks to artificial intelligence and machine learning, processes are becoming increasingly automated. Intelligent machines can, for instance, detect and prevent money laundering a lot more efficiently than humans can. Find out more about the applications of artificial intelligence within the financial sector in this article.