Banking
#digital transformation banking#blockchain banking#emerging technologies in banking#biometric authentication banking+1 more
How are emerging technologies reshaping banking in 2024?.
📅 Oct 5, 2025🔗 Share
Emerging technologies are fundamentally reshaping the banking landscape in 2024 by improving operational efficiency and customer experiences. Key technologies influencing this transformation include:
Key Facts
- AI and Machine Learning: Banks use AI to analyze data for better decision-making, risk management, and customer service.
- Blockchain: Enhances transparency and security in transactions, reducing fraud.
- Biometric Authentication: Increases security through fingerprint and facial recognition.
- Chatbots and Virtual Assistants: Provide 24/7 customer support, enhancing service efficiency.
Examples or Use Cases
- AI in Fraud Detection: Banks utilize AI algorithms to detect unusual transaction patterns in real-time, significantly reducing fraud losses.
- Blockchain in Payments: Companies like Ripple use blockchain for quick, cost-effective international money transfers.
FAQs
- What are the benefits of AI in banking? AI improves customer service and operational efficiencies.
- How does blockchain affect banking security? It provides decentralized and immutable transaction records, reducing the risk of fraud.
Sources
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