FinTech Innovation Map Reveals Emerging Technologies - 0 views
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Big DataIn addition to traditional financial data collection, new data sources such as mobile banking and the Internet of Things (IoT) provide an additional layer of data gathering. Combined with Artificial Intelligence, Big Data analytics utilize large amounts of old and new data to discover hidden patterns for better risk management and fraud detection. New insights from big data improve the understanding of customer behaviors and help banks to create better and more customized products and services.
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nourserghini on 13 Feb 21Big data analytics is another technology that fintechs have to consider in oredr to manage the important number of customers and data they have.
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AI helps banks to analyze their Big Data to improve existing solutions and make better decisions. A more recent AI trend is to use its cognitive abilities to go through a large amount of unstructured text and data to generate more insights and to learn natural language. A more intelligent AI chatbot or virtual assistant can take over repetitive “low-value” operations, such as performing small amount transactions, explaining financial products and providing basic financial advice to customers.
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Artificial Intelligence is a great technology that fintech like M-Pesa has to consider as it could have a big impact on their operations. It could help the company to deal with and analyze big data and generate insights that might have taken months to discover with traditional approaches.
