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Posted: 1 month ago Pune, Maharashtra, IN

Importance of Business Intelligence in Fintech

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Business intelligence is empowering companies of various sectors of the market and is playing a significant role in the present day’s competitive market. Fintech is turning into a very competitive market. An analysis by KPMG saw a decline in investments in 2016 and investors are now more cautious about betting on segments that are becoming saturated. Lending and payments are two segments that saw expanded participation in the course of the past two years.

You will discover that most of the financial and banking institutions are moving towards financial technological solutions. The primary reason being financial and banking institutions are currently looking forward to a great growth spurt and the majority of them have well defined lavish budgets to imbibe IT solutions and develop large infrastructure. It is presently almost mandatory to adapt to finTech and hence getting the best out of it is eventual. Extracting the optimum of these solutions is what leads the business to success, productivity, and profitability. And, one of the significant sources to get this done is the most popular and in-demand technology today, Business Intelligence (BI). In spite of the fact that Business Intelligence Services have been a part and parcel of major business domains, it still has not been entirely used for finTech, hence, there is a huge avenue open for the individuals who are prepared to get it done right away. There is a sure shot competitive edge over others, who are still in the thought process of how to make their finTech solution work.

Business intelligence (BI) and analytics are coming out to be ideal sources. Companies who know the the importance of business intelligence, have already started to harness its benefits. Much has still yet to be made sense of in fintech and the initial companies to be able to do so will surely have a definitive advantage over the competition. It is a perfect time to start using BI in your fintech companies so, here we have bought the top 5 factors in which business intelligence play’s a significant role in the fintech sector.

Monitor user behavior
Gaining significant information about user behavior will benefit the Fintech industry to a great extent. Since Business Intelligence allows you to track and monitor user behavior, you will have the chance to make the right investments.

Most importantly, data analysis can assist in the process of decision-making thus helping you construct useful strategies. Some of the leading robot-advisor startups like ‘Betterment’ and ‘Wealthfront’ disrupted investments by effectively utilizing Business Intelligence.

Uncovering market trends
At the point when it comes down to making investments, it becomes imperative to understand the market and its specific trends. That is what Business Intelligence helps you do, thus eliminating chances of making wrong moves and taking improper decisions.

Improved Security
Another territory where BI and analytics are seeing a lot of utilization is in security and fraud detection. Fraud has been a major issue in ecommerce payments for a long time. A report from Radial reveals that overall fraud is up 30% every year. Just this year, there has been a 200% increase in “testing” or when fraudsters try small purchases to check the validity of stolen credit card numbers.

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FinTec Buzz Fintech has redefined the banking and financial services to the next level. With the regular emerging trends surrounding the fintech arena, it gets difficult for CFO’s and tech-finance people to keep a hold onto the latest trends along with the added complexity of deciding what helps and what not. This is where we emerged for a solution. We are one of the world’s leading Fintech-based media publication with our content strategized and synthesized to fit right into the expanding ecosystem of Finance professionals. Be it our press releases, tech articles from Fintech evangelists or interviews from top leaders from global fintech firms, we give the best slice of knowledge topped up with the most apt trends. Our sole mission is to help tech and finance professionals step up with the rapidly emerging Fintech civilization and gain better insights to emerge victorious in every possible way. Posting for 1+ month

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