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Fintech and Cryptocurrency
book

Fintech and Cryptocurrency

by Mohd Naved, V. Ajantha Devi, Aditya Kumar Gupta
November 2023
Intermediate to advanced content levelIntermediate to advanced
480 pages
13h 5m
English
Wiley-Scrivener
Content preview from Fintech and Cryptocurrency

3Reshaping Banking with Digital Technologies

Ankita Srivastava1 and Aishwarya Kumar2*

1School of Management Studies, National Forensic Sciences University, Gandhinagar, Gujarat, India

2ICFAI Business School, The ICFAI University, Dehradun, India

Abstract

The banking sector has gone a long way to come into its present form. It is still undergoing changes due to the introduction of various technologies. The digitization in the year 2000 was a step hard to move but now the people are more open to changes and willing to adopt technologies for the sake of convenience. This chapter discusses the banking sector’s adoption of Artificial Intelligence (AI), the evolution of financial technology (fintech), the changes brought by fintech in banking industry and the challenges which the technology in finance is facing nowadays. The chapter discusses in-depth, the deployment of Artificial intelligence tools like Robotic Process Automation, iSaaS and bots. It focuses the areas in banking where AI and machine learning applications are used and how. Though the changes have made traditional banking look more beautiful ad user friendly, the constant changes in the technology will ultimately define the future.

Keywords: Banking, AI, fintech, digitization, etc.

3.1 Banking and Artificial Intelligence (AI)

Banking sector is a developing area which seeing quick acceptance of AI. The artificial intelligence guarantees balanced interface with the clients using the assistance of the computer-generated ...

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Publisher Resources

ISBN: 9781119904816Purchase Link