BANKING FINANCE SERVICES & INSURANCE(BFSI)



The BFSI industry has seen massive growth in recent times. Lately here are a few technological solutions adopted by BFSI:

AI-powered chatbots:

AI-powered chatbots,Voice bots for their uninterrupted 24/7 customer service. Banks want their presence seen in every social platform possible for attracting customers for which they are spending a good amount in digital advertisements. The inclination towards machine learning both for uninterrupted service and for gathering customer’s data through pairing voice bots like Alexa, Google Home with their brand has seen a huge spike. Companies like ICICI, SBI, and Axis Banks already have voice assistants. There are many banks offering services through WhatsApp in India. Marketing allows firms to spend major budgets on Advertising and anyone solution which brings technology and humans together is hailed. Apart from Advertising, AI has numerous uses in automation of Business processes. Orchestrating the mundane jobs and repeating without errors is possible through AI. Nowadays technologically sound companies are evaluating the actual power of AI and procure it for internal use.

Blockchain Solutions

Blockchain Solutions are used for secure cross border payments, inter-bank cross transfers. The Interest in exploring Blockchain solutions that use distributed Ledger solutions is high for Financial Technology companies. There are many use cases blockchain is solving in BFSI. Assets can be tokenized, divided and distributed with security inbuilt decentralized hyperledger system. Blockchain helps in Identity and asset management, Payments and digitalizing money in day to day activities. Blockchain smart contracts and ledgers are useful in changing the shape of Real-estate in the country adding the transparent and trustworthy layer to renting, buying, investing and lending. Blockchain maintains a common database for lenders and purchases happening in real-time. Therefore if you are providing blockchain-based solutions, you are at the right place for your sales where we help you in generating right leads for your solutions.

Cyber Security Adoption:

Cyber Security Adoption right from building their own SOC, the adoption of managed DevSecOps tools, periodic red team assessments, conducting Hackathons, following security compliances, regular security assessments and email security are few adoptions of BFSI from Cyber Security Industry.

Data Management:

Data is the most important asset of any organization. Companies allocate major portions of their Annual budgets for Data Management, Security, Data Governance and Data storage. Companies must set secondary backup storage of entire data. The Indian government has allocated 6000 Crores for building Data Parks which manages Indian Data. The usage of Software, Analytics, and Hardware to store the physical data in secured locations, work force to monitor it on daily basis and policies governing these makes Data management realm challenging to deal with. Having a handful of clients in this segment will rotate big numbers in sales for companies.

These are just ABCD of BFSI sector adoptions.

In line with this, these sectors are spending billions of dollars on Technology transformations and are always in search of the right technical products or services to cater customer needs and queries.

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