This post was originally published on SPEC INDIA's Blog
"Technological innovations will be the heart and blood of the banking industry for many years to come and if big banks do not make the most of it, the new players from FinTech and large technology companies surely will" – David Brear.
FinTech is getting recognized and competitive day by day. You will find most financial and banking institutions going in for financial technological solution. The primary reason being financial and banking institutions are now looking forward to a great growth spurt and most of them have well defined lavish budgets to imbibe IT solutions and build a large infrastructure. It is now almost mandatory to adapt to FinTech and hence getting the best out of it is eventual. Extracting the optimum of these solutions is what leads the business to success, profitability and productivity. And, one of the major sources to get this done is none other than the most popular and in-demand technology today – Business Intelligence. Though Business Intelligence Services have been a part and parcel of major business domains, it still has not been entirely utilized for FinTech, hence, there is a large avenue open for those who are ready to get it done right away. There is a sure shot competitive edge they will have over others, who are still in the thought process of how to make their FinTech solution work. Enterprise Digitization is on a success wave, today and tomorrow.
As an amalgamation of two power houses – Finance and Technology, FinTech enjoys the status of being most sought-after in the IT world. The major USP that differentiates this from other technological areas is that the Finance and banking sector is anyways based on a large amount of information transfer between entities and to facilitate and leverage that process, the financial solutions are the best possible medium. This is why there is this special term called FinTech whereas technology has been making its presence grounded in each and every fraternity. Business Intelligence Solutions acts as a power booster to enhance the financial services and solutions by garnering a larger amount of information, technology trends and reports in a wide range of visually appealing dashboards / reports and newer technologies like Predictive Analytics and Self Service BI that serves information in the best possible way. Value adding to it is the seamless integration of BI with the hi-tech technology moves of today like IoT, Payment Integration, Cloud based services, Enterprise Mobility, eCommerce to name a few.
Read More @ Progress and More Progress – BI Provides a Positive Thrust to FinTech
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