The basis of any economic transformation is changes, the key aspect of which is a change in the approach to doing business. In the 21st century, technology has become an integral part of the development of the state and society; thus, digital transformations penetrate deeper and deeper into the everyday life of humanity and into all spheres of their activity. The concept of “digital transformation” is based on radical changes in technological processes that are observed in all areas (economics, […]
Tag: digital transformation in finance
5 Steps to Creating a Winning Digital Banking Strategy
The banking world is only becoming more active and responsive to technological innovations and market trends. Here, they have to balance between the need to provide agile, mobile solutions and ensure top-notch security amids the rapid increase in malware and financial fraud. Security and privacy requirements have a great impact on the digital banking transformation strategy and firms in the banking and finance industry spend much time reviewing the way their businesses operate and analyzing how consumers make decisions about […]
7 Tips to Leverage RegTech in the Financial Industry
Regtech and fintech software solutions are emerging and maturing. Disruptive technologies like artificial intelligence, data and analytics, cloud technologies, blockchain, biometrics, and cryptography are changing the way financial institutions operate. However, are fintech IT solutions leveraged to the full? Let’s consider the obstacles in the path of the Fintech Revolution and the means to circumvent them in more detail. Challenges to Full-Scale Regtech Adoption Regtech (Regulatory Technology) is considered very important for banks due to the pressure of competition and […]
Robotics in Finance: A Quick Way to Making the Life of Your Team Easier
In today’s technology-driven era companies face a common challenge – building responsive ultra-fast businesses while optimizing cost and customer service. This is where Robotic Process Automation or RPA can deliver substantial benefits. The core of robotics in finance is to act as a standard for carrying out operations after filling out predefined instructions. At present, such bots have exceeded performance expectations and, getting the power to make decisions using advanced AI and ML algorithms, they become even more effective. Thus, […]