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Financial Analytics – Financial services and financial technology (FinTech) are increasingly turning to automation and artificial intelligence to fuel their decision making processes for investments. There are several AI/ML focused use cases to highlight.
With big data on the rise and data algorithms advancing, the ways in which technology has been applied to real-world challenges have grown more automated and autonomous. Financial analysis with real-time analytics is used for predicting investments and drives the FinTech industry's needs for high-performance computing.
For example, an analytics application would work best with unstructured image files stored in a non-relational graph database. But vendor lock-in can occur, making a company susceptible to price hikes, paying for unnecessary technology, and being blocked from new technology that could be advantageous.
Application Categories in Financial Technology Mobile Banking Apps These apps integrate with banking systems to give their users real-time information safely and intuitively. Customers may make contactless payments using NFC technology by tapping their smartphones or smartwatches on the terminals.
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