The FinTech revolution is rapidly transforming the financial industry. The use of digital technologies is the norm, and together with regulatory and market changes, it is creating a revolution.
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Financial innovation presents a significant opportunity that goes beyond its impact on financial services firms; the entire economy can benefit. It embraces changes in the offerings of banks, insurance companies, investment funds, and other financial service firms, as well as modifications to internal structures and processes, managerial practices, new ways of interacting with customers, and distribution channels.
FinTech is an umbrella term used to describe innovative technology-enabled financial services that could result in new business models, applications, processes, or products with material impact on institutions and provisions of financial services. FinTech is not just the territory of start-ups; it also forces larger, incumbent financial services businesses to stay competitive and innovate if they want to remain relevant.
FinTechs are creating new customer-centric ways of accessing and delivering financial services, from convenient ways to make payments to investing money with robot advice and creating a personalized budget with the help of software.
New entrants see an opportunity in disaggregating the components of traditional banking and offering targeted solutions with better servicing to both retail consumers and businesses. In parallel, the threats posed by FinTechs can disrupt four categories of incumbents’ business – market share, margins, information security/privacy, and customer churn – at higher rates when compared to other financial sectors.
As a solution provider for financial institutions, Pixl.AI is focused on solutions with the unique combination of informed AI, computer vision and machine learning. Pixl.AI solutions are well defined for the compliance management and acceleration of operational efficiencies, transforming the manual business processes with robotic process automation. We help financial sector companies to comply with RBI regulations, protecting their customer privacy data with our solutions.
Our customers pick us because we make an effort to understand their business problems and solve them.
We're fortunate to have some amazing clients like the federal bank, south Indian bank, Dhanlaxmi Bank, etc. We asked them why they picked us. Here's what they said:
- Our solutions work at scale.
- The accuracy of AI is highest among competitors.
- We actually solved the core business problem.
- The speed of execution for the project was very high.