Banking – A Futuristic Outlook Backed by Emerging Tech

BFSI % CCC , כנן 1300 Blockchain in BFSI Blockchain prevents corruption of database and decentralization of blockchain provides enhanced security . ( rs ) Key Blockchain Features Distributed Ledger A synced database across multiple owners without a central authority Banking & Finance Cross - border Settlements Optimized Banking Infrastructure Verifiable Credentials Smart Contracts Automated contract creation & execution when set conditions are met draup H 005 Key loT Features Active Management | Scalability Collecting and analyzing complex data which paves the way for fresh use cases Banking & Finance Banking on Wearables Automated Cross - device Payments On - site Line Management BLOCKO CHAIN Internet of Things ( IoT ) in BFSI loT brings the power of coupling physical objects with sensors and digital networks to provide inter - device connectivity Fot Banking and Financial Services & Insurance A Futuristic Outlook Backed by Emerging Tech S Handling huge volumes of data and managing workloads as per the user demand Prevention of fraud claims Automated Risk Modeling Secure Compliance Checks Tokenization Converting an asset into a value - based token to be stored or transferred Insurance Speed Expected increase in speed of transactions , processes and banking operations Bud Compactness loT sensors , and devices are getting smaller and can be deployed anywhere with ease Insurance Real - time Medical Information Usage - based Insurance ( UBI ) Real - time Risk Monitoring € The Web 3.0 Ecosystem Web 3.0 is the next - gen technology that will process information in a smart human - like manner using technologies such as AI / ML , Big Data , AR / VR and Blockchain . Emerging Concepts Transforming BFSI ( AMD Blockchain Upto USD 27Bn To be saved on cross - border transactions by 2030 Internet of Thing ( IoT ) Upto USD To be generated in global BFSI revenue by 2025 Key Al Features Automation Next - gen Autonomous systems capable of handling complex banking processes 550Bn Al in BFSI Al aims to mimic human behavior and solve complex computational problems that require human intervention Banking & Finance 360 - degree Customer Profiling Automated Systems Management Conversational ChatBots Predictive Analytics Analyzing historical data to produce accurate forecasts based on patterns Key AR / VR Features Interactive Tracking sensors and controllers enable close , virtual interaction with Banks Banking & Finance Connectivity Deeper level of personalization and inter - device connectivity will enable seamless banking Artificial Intelligence Upto USD Immersive 3D Immersive 3D environment brings the bank to the customer at home Virtual Bank Branches Behavioral Biometrics Tracking for Security User - friendly Product Overviews 70Bn To be saved on banking automation by 2025 AR / VR Upto USD 80Bn To be generated in global BFSI revenue by 2023 Augmented / Virtual Reality in BFSI AR / VR will add a deeper level of personalization and interactivity in the financial services ecosystem SEND Personalization Delivering customized customer experiences in real - time to match individual needs Insurance Property Damage Analysis Claim Volume Forecasting Automated underwriting & pricing Sensory Feedback Tracking user positions to render the changes in Virtual positions Insurance Virtual Customer Service Impact on BFSI Web 3.0 is set to revolutionize this Industry with an arsenal of technologies that will disrupt traditional process Remote Guidance . Virtual Property Visits Security Decentralization and enhanced data management will secure confidential customer data To learn more , visit draup.com/talent