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What Are The Main Development Trends Within Finance Technology?

Fintech has lately been a major business sector, covered from many angles, including, in fact, technology in its architectural application: identifying what the biggest trends in terms of technological development are, especially at this still embryonic stage would be a massive factor for the fintech entrepreneur. Let’s analyse what software or application will dominate the bright future of fintech.

Machine Learning – Based Projections

As known by many, machine learning and deep learning have been two of the biggest trends within any business sector and, given the fact that fintech mostly relies on both analysis and processing for what concerns cookies and big data in general, it’s quite easy to understand how they also apply to this business segment. In 2019, given the tangible rise of Python developers as a professional figure, machine learning will actively attack the fintech realm by combining autonomous learning algorithms (generally applied to customers’ experience, also known as KYC) to a far more complex architecture when it comes to investment platforms, which will tailor their projections onto faster, more precise algorithmic projections.

The Never Ending Blockchain Phenomenon

Blockchain has risen in magnitude since the entire Crypto boom happened in 2016. 3 years later, the matter has developed, stretching from mining applications to proper architectural setups: in fact, there have been signs of blockchain-approaches being applied to many different sections within, mostly, the investment sector. This is, once again, colliding with the machine learning – of things matter which is impacting, indeed, another very delicate subject within finance.

AI Taking Over On Responsibility

In a rapidly growing sector like commercial bridging finance, the need for powerful and most importantly groundbreaking tools is a top-level priority. What’s been noticed in the last couple of years was indeed the development of a significant variety of AI-based tools which tried to bypass the human interaction for what concerned finance and loans-applications. This matter, although being extremely controversial from both an ethical and from a strictly business-related matter, has definitely captured the interest of many triple-A companies within the sector, and led many analysts to a common question: “Is AI taking over us?”

Is AI taking over us?”

To Conclude

Although still at its very embryonic stage, fintech is actively attracted by automation and machine learning-based processing, which states how powerful the figure of the savvy Python developer is nowadays. In 2020, we will definitely see this growing more and more, given the significant investment plans already published by all the major players within the personal finance world. (with Paypal being the biggest player)