Trends And Technologies Innovating The Banking Industry

The banking industry is facing strong competition from both fintech firms and big tech giants, which is why it is vital for banks and credit unions to leverage new technologies in order to build winning strategies. Some of the trends and technologies that the industry is adopting this year and beyond include biometrics such as voice authentication and finger vein readers, machine learning to optimize all areas of their businesses, cloud-based solutions for enhanced email management, as well as the adoption of open APIs for easier data-sharing between systems. Smart fraud fighting solutions and digital banking that eliminates the need for a physical branch are also gaining traction.