Technologies that will transform the FinTech sector in 2021

Melissa López
April 16, 2021

With the acceleration of the demand for innovation and technology that offer personalized banking experiences, the FinTech sector has experienced great growth in search of the implementation of 100% digital financial products and services.

FinTechs stand out for seeking the adoption and leveraging of technology in a customer-centric approach, which is why financial institutions increasingly seek alliances with FinTech to accelerate their commercial efforts being one step ahead of their competitors.

At Antit we work under the Minimum Viable Product (MVP) system which will improve your Time to Market when going out to compete in the digital market, where tomorrow may already be too late.

According to data from the Inter-American Development Bank (IDB), during 2020 the FinTech sector grew by 40%.

Below we will show you the main technologies that will allow the Fintech industry to improve productivity and efficiency in the automation of solutions. 

API platforms: these types of platforms have evolved in recent years and even more under the open banking model, allowing partnerships with financial companies to create new opportunities for revenue growth, cost reduction, and a better user experience. 

APIs also allow collaboration between non-financial institutions to discover better products for end consumers, using data from telecommunications companies, for example, to know the payment behavior of a person to determine their credit score. 

Antit develops APIs that adapt to the needs and objectives that your company requires, with a person who remains at the forefront of the latest technology.

User interface (Chatbot): this type of technology is expected to help the satisfactory solution of customer complaints, inquiries, and comments in an effective and timely manner, always in real-time, thanks to machine learning.

Blockchain - For the credit space, Blockchain can play a much broader role in making the credit score more transparent, consistent, and globally valid.

Cybersecurity: from the development stage, FinTechs ensure that the product that will be released on the market will be safe, it will be protected at a higher level in terms of security and data privacy.

Artificial intelligence: artificial intelligence provides a personalized approach to the customer, helping to identify their ability to pay and even risk of fraud through data analysis. 

Voice biometric systems: this type of technology is included in the development of mobile applications, it is based on artificial intelligence that is responsible for identifying and analyzing the speech of a person to validate their identity when carrying out a process from home or distance.

Credit scoring technologies: this technology helps to generate predictive models that evaluate the probability that a client has to stop paying his credit and other related tasks.