Learn what tech should be used in financial services!

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Digital transformation is happening everywhere, and of course, the financial sector needs to stay on top by using the latest technology. Here’s what you need to know.

Nowadays, financial services use Artificial Intelligence (AI) to handle many operations, manage investments, and control risks more effectively. But there are other super helpful tools for financial institutions, and today, we’re gonna walk you through them.

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1.- Smart branches

‍Turning every branch into a smart space gives customers lots of perks and cuts out tedious tasks, letting staff focus more on strategy instead of day-to-day operations.

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2.- Chatbots

‍Chatbots are great for offering quick and 24/7 service. They help customers take care of transactions or solve issues without waiting for a rep or visiting a branch in person, since everything happens online.

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3.- Bye-bye fraud

‍To stop identity theft, financial institutions use tools like data analytics, machine learning, big data, risk management, and fraud prevention. AI helps detect crimes, analyze real-time data, and create models to spot problems automatically.

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4.- Predictive banking

‍If you didn’t know, AI can build predictive profiles and analyze account activity, mixing that info with internal data from other channels. Thanks to this, banks can see if a customer is planning to leave and take action to keep them.

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5.- Robo-advisors

‍It’s a fact! Automation now lets financial institutions provide personalized advice, interacting with customers and guiding them based on what they need.

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