Prove Blog

It is expected that AI will be the next big thing in finance, changing how we do everyday transactions.

The ability of AI to mitigate risk remains one of the most critical areas of development for financial institutions.

Mr. Nakamoto developed blockchain as an acceptable solution to the game theory puzzle—Byzantine General’s Problem. This led to many companies adopting the technology in different ways to solve real-world issues, wherever there was an element of trust involved.

As digital activity volume increases, digital-native FinTechs are compelled to combat application abandonment and reduce identity fraud.

There are around 700–800 InsurTech firms globally that are addressing the requirements of the $4.5-trillion insurance industry.

While globalization and innovation in technology have helped in facilitating large sums of money quickly, it has also helped in rapid money laundering.

The B2B cross-border payment market alone is valued at over $150 trillion, over 60 times the e-commerce market, creating a lucrative market opportunity for FinTech companies.

Any service in a bank’s value chain can now be substituted with a FinTech option from an array of solutions.

Customer purchasing behavior has been significantly transformed since the accelerated adoption of FinTech solutions.

A variety of financial institutions have turned from words to actions, adopting ML/AI in various areas of operations.

A new wave of biometric technologies is poised to change the cybersecurity landscape forever, leaving legacy technologies like OTPs in the dust.

Apart from startups, many banks have been exploring blockchain in some way or the other.