The future in banking is digital

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The FinTech is the keyword that defines the revolution of transformation in the financial world. In this pipeline digitalization of banking sector has been noticed in past few years and specially after the COVID-19 pendemic time, Digitalization has achieved its new pace. Many survey reveals that there has been a significant decrease in the number of customers visiting the banks physically rather, they now prefer to handle all their banking needs through online tools. As a result many banks globally have been shuting down their branches’ physical presence and are operating online only. This has made banks to adopt new Technologies and Tools to get adaptive in this new demand of time.

In order to achieve the goal banks need upgradation to cutting-edge technology plateforms that are robust and scalable. In this funnel Payment banks, e-wallets and digital payment providers enlarged their business in covid-19 pendemic situation.

 Some of the new age technologies like Big Data, Cloud Computing, Block chain, Artificial Intelligence and Machine learning (AI-ML), Robotics automation are making the banks able to offer customer centric services to a wide group of people.

 Now customers also expecting augmentation of digital tools in financial services that can make their day to day banking needs seamless.

So, in a nutshell it can be concluded that ditilization is in the nucleaus of future success. Opting new technogies will make one proficient to adopt current industrial changes and will strengthen to face all chalanges arised.