The fintech is the interdisciplinary field of the finance and the technology. The fintech is becoming an immense part of the financial sector and the investment banking sectors as well. The fintech have not just made every easy to handle and simple, but at the same time, it has also made the financial system more optimized and specialized with a higher degree of protection against the cyber threat and frauds occurring in the investment banking and financial sectors.
The fintech is an emerging field in the market and it is expanding its reach up to the financial sector and investment banking making it more optimized, specialized, tech savvy and self reliant. The association of the financial market with the fintech is making it more transparent, easily reachable, comprehensive and highly efficient. It is also providing exposure to the risk factors involved in the financial market to the individuals.
With the association of the fintech, the banks have upgraded their system and now they work efficiently and very effectively. There is a greater scope for the fintech to develop in the future years and there are much more technology yet to develop so as to strengthen the financial sectors and investment banking sectors.
Here are most important technologies that have changed the face of the financial market drastically –
- The use of algorithms and its combination with the artificial intelligence. The algorithms have made the working of the banking sector so much more at ease and simple. The algorithms take care of every single details and notifications that needs to be provided to the officials. The working of the machinery has also seen some major changes. Well, artificial intelligence and the algorithms have made every so easy and much more secured. They have provided us the most ideal platform and environment to perform.
- The roles of the robots. The robots were known just to do the work of the people, but now they are so much developed that they can also give you the best advice for your financial future. The robots in the present generations are capable enough to understand how does the financial market works, what are the patterns and what all are the risk factors involved. It is self operated and does not involve any labour as well.
- The most secured and highly confidential way of sending information – quantum sealed envelope. The most terrifying thought for the people in the financial sectors and the investment banking is the loss of the money. As fintech has spread its reach in the financial market, so it the threat of the cyber threats and frauds have increased which is why the fintech is facing some opposition, but this problem is also been solved almost. The technology of the quantum sealed envelope is in its developmental stage currently.
- The technology involving Bitcoin and Blockchain. Blockchain is one of the most secured and transparent way of transactions that can be carried out in the form of the virtual currency bitcoins. The technology has been accepted by most of the large banks in the world.
- Big data and Analytics. Cloud storage have solved the problem of the banks by saving and analyzing the large amount of data within a very short time instance. These technologies provide real time access and storage of the data within a moment. Analytics have been helpful in establishing high correlations globally.