innovation trends in fintech industry
TRANSCRIPT
Copyright ©. Maveric Systems Limited
Innovation Trends
In Fin-Tech Industry
Kaustubh Varade +91 7045571772 / [email protected]
2
Purpose of this session
To get acquainted with current trends in the Financial Services and Banking Industry
To understand the importance of our work in this ever changing industry by looking at the bigger picture
To inculcate eagerness within us so as to stay updated with upcoming trends
3
Agenda
Rise of Banking Industry
Role of Technology in Banking
Goals of Fin-Tech Industry
Current Trends and core technologies behind them- Bitcoin, P2P Lending, Big Data, Virtual Banking
Must-have Skills to upgrade ourselves
5
Services Expansion in Banking Industry
Fund Based• Factoring• Leasing• Hire Purchase• Bill Discounting• Housing Finance• Venture Capital
Fee Based• Debit / Credit cards• Fund Transfers & Payment
services• Commission on Insurance and MF• Portfolio management services• Broking services• Investment Banking
8
Convenient Banking
IncreasingMarket Share
ProcessAutomation
Be a good friend of Central Banker
Regulatory Compliance
Goals of Fin-Tech Industry
Customer needs Banking, not Banks.
Know your customer needs in and out.
Stay safe and secure
Security of Transactions
Cost Reduction is a way to maximize the profit
9
Bitcoin Underlying technology behind Block-chain. Block-chain Distributed public ledger of transactions
of things Every single transaction is recorded in a block-chain Block-chain spans across multiple places that’s
called node Every single node has a copy of block chain Multi-authorization paves way for secured
ecosystem
13
Extract actionable insights using machine learning algos. Every financial transaction is nugget of data Multiple data sources pertaining to different customer groups, Product categories, functions within bank. Decision Trees, Data clustering, Text Analysis, Neural Networks, Link Analysis
Actionable Insights
User Data
Ecommerce Data
Transaction Data
Big Data
14
Acquire Customer – Retain Customer – Develop Customer
Sentiment Analytics
Customer 360
Customer Segmentation
Next Best Offer Channel Journey
Listen to the customer Divide and Rule
Anticipating customer’s needs
Know your customer
Identify Cost effective channels
17
Business Side
Awareness about
current industry trends
Risk Management Skills
Business Model
Analysis
Financial Engineer
ing
Financial Inclusion
Financial
Markets
Economics
Portfolio Investment Manageme
nt
Financial Instrum
ents
18
Technical skills
Advance Technologies
Block-Chain
Artificial
Intelligence
SMAC
Programming Skills
Java C++ Python
Data Science
Analytics / R Programming