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Shaping the future of software driven business
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Financial institutions will increasingly need to deliver personalized and proactive
banking services to their customers in order to stay competitive. Advanced analytics
will empower them by aggregating and analyzing enormous amounts of data to gain
real-time insights into their customer interactions and banking operations.
The focus will remain on improving operational efficiency by automating front,
middle, and back office operations. Again, new technologies such as robotic process
automation and machine learning will play a critical role in identifying and executing
the most impactful process automations.
Fraud and risk detection will continue to be a growing area of focus for the BFSI sector.
Cognitive analytics with advances in machine learning will be used to harness and
process high volumes of structured and unstructured data to unearth suspicious
behavior and to identify fraud.
Using artificial intelligence, machine learning, and OCR technologies, financial
institutions will be able to leverage the experience and knowledge base stored in the
form of documents and files. Organizations will be able to reduce documentation
costs, build consistency, perform compliance checks, and take decisions with minimal
human intervention.
Perspective
Banking, Financial Services, and Insurance