The following trends can be identified as the most significant in the banking & fintech segment for the year 2017.

• Small merchants and Low Income Customers moving from cash to digital transactions
• Front end innovation to gain prominence with multi-lingual support and localization of services using AI
• ChatBots, Robotics and Artificial Intelligence to enhance the experience of customers
• Predictive Analytics will result in a personalized experience for customers
• Open APIs by more banks and non-bank entities for seamless and omnipresent customer experience
• Sophisticated Aadhaar based fingerprint, biometric and other authentication technologies
• Banks and fintech startups will try to innovate BlockChain technologies to increase efficiencies
• Increased competition in Frictionless Customer on-boarding and Credit Underwriting:
• Analytics of Things will transform credit scoring models to accurately underwrite the customer
• Increasing investments in cyber security
• Setting up of Regulatory body for FinTech

To know more about the trends in banking & fintech, click here