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Our plan to increase investment in AI

February 15th, 2021 Back To News & Insights

Investments in technology and data infrastructure are some of the top priorities in the Covid recovery market

Latest Research has said that data analytics, robotic process automation and AI were critical technologies for their businesses, with 62% naming cloud-native solutions as a pivotal part of their IT strategy. Meanwhile, 83% of respondents plan to work more closely with asset services and tech partners to improve their operational efficiency.

According to the survey, the top applications for AI are portfolio analytics and performance measurement (60%), data sourcing, cleansing and enrichment (57%), and improving the operational efficiency of middle- and back-office processes (56%).

The FinTech Market

The Global FinTech Industry Market is expected to be valued at $382.38million by 2027, exhibiting a CAGR of 7.05% during the forecast period (2020-2027).

At its core, FinTech helps companies, business owners and consumers better manage their financial operations, processes, and lives by utilizing specialized software and algorithms that are used on computers.

When FinTech emerged in the 21st Century, the term was initially applied to the technology employed at the back-end systems of established financial institutions. Since then, however, there has been a shift to more consumer-oriented services and therefore a more consumer-oriented definition.

FinTech also includes the development and use of cryptocurrencies such as bitcoin. While that segment of FinTech may see the most headlines, the big money still lies in the traditional global banking industry and its multi-trillion-dollar market capitalization.

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