09 nov, 2022

FINTECH 4.0: The digitalization of the financial industry

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With the increase in remote work and more access to the internet for shopping and financial services, companies needed to adapt to the digitization of payment services and online payments.


Over the past few years, finance has evolved into one of the most globalized, digitized and regulated industries in the world.



Digitization has significantly transformed this sector, but it has also allowed the entry of new operators in the last decade in the form of technology companies, especially FinTechs and BigTechs.

 

As a highly digitized industry, both traditional and new operators are increasingly following similar approaches and models, focusing on the creation and development of large digital financial platforms and the further analysis of the database generated. Throughout this massive digitalization process, we call it FinTech 4.0, which brings unquestionable benefits to the organization and final customer but also brings a set of risks, both in terms of security and for the sustainable growth of the financial industry.

 

It is necessary to build new approaches to maximize the benefits of these platforms and at the same time, we need to monitor and control the risks that a highly digitized industry may be exposed to.

 

So much change is important to highlight how this process requires intense intelligence work, and security of internal and user data. The purpose of looking at security is to increase market competitiveness, prevent fraud, data theft and promote a revolution in the digital financial market.

 

As the implementation of innovative digital solutions in the financial industry takes place, challenges arise such as integration with systems and almost real-time data verification to deal with the large amount of information generated in each transaction carried out by users.

 

A crucial step for organizations right now is to align customer expectations and adjust to their business model and what they need.



With so much innovation, and so many assets to manage, it's difficult for a traditional bank to dedicate time and resources to create differentiated solutions. Especially in the current context, in which the financial sector faces greater challenges related to the sustainability business models and the reduction of non-productive assets. All this is accompanied by an increasingly demanding regulatory environment.

 

The management of all these challenges naturally leaves little merge for commitment to differentiation and innovation, however, ARMIS Financial Technology is prepared to help its customers and partners in this process.



We have a lot of solutions that can help companies to become digitally updated for their activities.



Since consulting and technical leadership, home banking solutions integrated with cybersecurity approaches adapted to the Financial Industry, at ARMIS FT we create the safest solutions and have a range of services completely adapted to the needs of each business.


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