Quantzig, a global data analytics and advisory firm, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of its latest article that offers comprehensive insights on the Fintech trends transforming the financial sector.
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When it comes to the financial services ecosystem, the latest Fintech industry trends play a significant role in determining how the sector evolves and digitally transforms people’s life. Today, Fintech disruptors are changing how everything works by transforming the core of insurance, payment methods, credit settlements, and even more. To respond accordingly, banks and payment service providers have started partnering with Fintech companies to deploy new solutions and transform their processes.
According to Quantzig’s advanced analytics experts, “Fintech companies, insurers, pension funds, banks, and other financial services providers operate in a highly regulated industry and are faced with high demands for security, data quality, and operational resilience.”
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Top Fintech Trends Transforming the Financial Sector
1: Digital Money Gains Momentum
The growth of the digital economy and mobile devices have already enabled an explosion in non-traditional financial services, enabling Fintech companies to thrive. New forms of online payments and interactions between individuals are being adopted across industries. Also, as devices have become connected there is a growing expectation for the second round of machine-to-machine transactions- which is also called a digital-only world.
2: Smart Apps Powered by Payment Services Directive
Smart task-specific aggregated apps using PSD2, Open-banking, Machine Learning, and Artificial Intelligence provide their customers with higher returns, more accessible sources of funding and lower interest rates. This way these innovative Fintech firms win market share and earn competitive advantages over the traditional banking services providers.
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3: Next-gen Point of Sale
We are gradually moving to the future with universal payment methods that will alter relationships between merchants, customers, and payment intermediaries. In such a scenario, all it takes for a merchant to take advantage of a next-gen point of sale is to have good internet connectivity and a portable card reader.
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Want more insights? Read the complete article here: http://bit.ly/33fdEnL
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal