These brand-new institutions successfully deal with several key demands for the industry players, including having a robust strategy for building the computing infrastructure, establishing omnichannel experiences for clients, having a modern and scalable platform for data and analytics, and being cloud-based, configurable, and secure.

Thanks to these capabilities, AI banks are going to shape the digital transformation for the banking sector in the near future.

In the given circumstances, loan management systems are essential for building an effective financial business. Being specified on making loans faster, more accurately, and easier, this technology addresses the current demand for a leading-edge operational model that enables smart servicing and experience.

In this overview, we’ll explain how the systems for loan management work and what they are good for.

What Is LMS (Loan Management System)?

The software is a digital banking enhancement that facilitates the loan lifecycle as a whole. In particular, the technology is capable of:

• assisting in processing client data
• creating new loans
• generating accurate statements and reports for lenders
• managing interest rates
• serving collection automation.

In addition to these features, an important capability of loan management solutions is scalability. They not only facilitate processing for separate tasks but also automate the entire process.

Loan management software is an end-to-end service that covers key processes in cash and liquidity management, lending for commercial, consumer, mortgage, and syndicated needs, loan origination, and collateral management.

This way, the solution opens the door for new business opportunities as you can create a more comprehensive corporate environment and deepen the relationships with customers.

How Loan Systems Improves The Lending Experience

Having a seamless digital solution for loan management facilitates all your business processes and establishes a great borrower experience for your clients.

Loan management digitalization helps to get rid of manual work and papers. Thanks to the toolkit incorporated, you can transform the way your institution operates. With Big Data and analytics, businesses get the effective instrument to automate loans and establish a machine-ruled procedure for account opening.

Combined with machine learning capabilities, these technologies can leverage even large investments, including student loans and trading. Altogether, these enhancements enable identifying new growth opportunities, managing back-office data more effectively, and structuring the existing loans from present software and papers.

Improving customer experience is critical for business success. With loan management solutions, it’s possible to introduce a customer-centric service and address the growing demand for self-servicing portals.

The system can speed up customer onboarding through automated tools and digital document management and provides your managers with the necessary client data to increase the accuracy of offerings.

4 Key Benefits of a Loan Management System

Investing in a loan management solution brings substantial advantages for businesses of any size. Startups can rely on this technology for dealing with the existing loans faster and more accurately, which is the necessary prerequisite for future growth.

Mid-sized companies can invest in the system for improving the customer experience, which significantly improves the retention rate and assists in scaling. For large enterprises, the key benefits include increased security and streamlining the workflow.

Notwithstanding the company size, loan management systems will improve the organization in 4 key dimensions:

• Customer satisfaction
• Corporate processes
• Risk management
• Opportunity for innovation

Let’s review the perks of each of these enhancements.

#1 Boosting Customer Satisfaction

Contemporary consumers have become digital-savvy, and each business should address their new demands to the maximum today. With the tool that collects all the key information about clients and possesses the capabilities to establish a self-serving portal, your abilities to satisfy your customers increase.

It’s important to address the need accurately, though. The easier your digital solution, the greater your chances of maintaining existing clients and attracting new ones.

In this context, loan management software stores all the relevant information about your clients and makes it possible to draw insights from the data. As a result, your employees will offer the most accurate services to customers, based on their preferences and loan history that the technology has carefully collected and accurately processed.

#2 Optimizing Corporate Processes

These days, many companies suffer from miscommunication, lack of structure, and duplicated tasks. Organizations dealing with loan management are not an exception to this rule. But with the software specially designed for managing loans, your enterprise gets the chance to get rid of these problems.

The unified platform will organize all the existing loan-related processes. This way, your workers can easily access the most accurate information about all the loans and collaborate on the data in real-time.

#3 Mitigating Risks and Errors

Financial services suffer from human errors, and the cost of the mistake can become catastrophic. That’s why automating the processes is a must-have step for the industry.

When it comes to the loan management system, the software deals with billing inaccuracies and payment tracking as the most common areas for making mistakes. By taking over these routine tasks, the technology lets your workers concentrate on working on data rather than dealing with the tedious work of filling spreadsheets and inputting the client information.

Even more, the communication platform in-built in the software lets your workers react on the recently updated information only, which significantly reduces the frequency of miscommunication in your office.

#4 Fueling Innovation

Even though the loan management system mainly deals with optimizing the existing processes, this solution also helps businesses innovate.

By being a cloud-based digital end-to-end solution, this software addresses the growing demand for connected banking and takes over the entire loan lifecycle, freeing your people’s time to conduct more strategic and creative tasks.

In particular, the solution provides and organizes all the relevant loan-related information, and your workers have the key data prepared. They can concentrate on detecting patterns, justifying the logic, and finding new opportunities and more accurate services for clients.

Most Common Loan Types that Can Be Managed with Loan Management Systems

1. Personal loans, or loans for non-commercial use. In this loan category, the software will categorize secured and unsecured loans and store the credit history previously checked for easy access.
2. Student loans, or costs to cover educational needs. The system will select the date, amount, and interest rate (if relevant).
3. Commercial loans for businesses. Here, the software will assist in document management and automatically process the required data from these papers.
4. Syndicated loans for multiple lenders. With the software for loan management, the middleman in the transaction can process this loan type faster and easier.
5. Mortgage loans for real estate purchases. The system will take care of deadlines in this long-term loan and manage the needed documents,
6. Short-term and high-interest payday loans. With the loan management system, your workers won’t lose this loan and won’t miss its deadline.

7 Essential Features of Loan Management Software

Once you invest in a custom loan management solution, check your tech provider can include these critical features in it:

• Loan origination. The machine should be able to check the risks and assist in the decision-making process when processing a loan application.
• Loan servicing. This feature of a loan management system deals with the complexity of loans, classifying them by interest rates, payment deadlines, and other critical criteria.
• Funds collection. The service should have a digital wallet module to enable payments. The data privacy for this feature is essential, and each online solution builder should invest in a secure payment getaway.
• Debt management. The in-app notifications should assist in controlling the schedule, fulfillment, and fee calculations for repayments.
• Communication platform. The system should store all the information in the same place and update it in real-time so that your employees have accurate and fresh data to act upon.
• In-app analytics. The loan system should process the data algorithmically to establish connections between separate data points.
• Reporting module. Data visualization is critical to control the business performance and keep track of cash flow.

Ask Intellectsoft for Help in Building the Software for Loan Management

If you’re looking for a loan management system that possesses all the above-mentioned benefits and features and blends well with your existing processes, you can refer to Intellectsoft.

With decades of expertise in the IT market, we can build a custom solution with all the necessary features for your business benefit. Among our financial software development capabilities, you can request as main or extra features these services:

• Online Banking with the solutions including custom platforms, mobile apps, security, UI/UX, and system integration.
• Blockchain and Cryptocurrencies with an ICO launch support, transaction operations, smart contracts, and identity management.
• Digital Wallet, or an app that enables P2P payments, digital money transfers, and in-app currency creation.
• AI and ML technologies for predictive and recommendation systems, natural language processing, computer vision, and data mining and analytics.
• Trading and Securities services that include securities trading, digital brokerage, blockchain ledgers, and AI automation.
• RPA, or Robotic Process Automation for account reconciliation, automated mailers, monthly account reviews, and regular reporting.

Talk to our experts and request a custom financial software development solution that will fully meet your business needs! Transform your business today with Intellectsoft as your reliable technology partner!

The post How a Loan Management System Serves the Business and Customer Benefit appeared first on Intellectsoft Blog.

These days, FinTech attracts heavy investment: from $12.7 billion in 2020 to $23.4 billion in 2021. This means a significant shift in the financial industry structure, calling businesses to introduce cutting-edge technologies to remain competitive.

Given the capabilities of FinTech solutions, this change is for good, promising better ways for people to manage their money.

In this overview, we’ll reveal the key technology opportunities and share our experience on how to build secure FinTech applications.

FinTech App Potential and Adoption

Companies choose to build FinTech app solutions to simplify and increase the effectiveness of financial operations with a diversified set of high-tech solutions.

Currently, the secure FinTech industry encapsulates the set of various technologies, including payment processing, digital wallets, and lending services.

In addition to providing functionality to manage sensitive information, these automation tools have improved the efficiency of managing business processes. And these benefits reach far beyond the limits of traditional banking.

3 Key Ways FinTech Solutions Are Applied to Mobile Apps:

1. Adding financial features to non-financial apps. Now, each business owner can process in-app transactions.
2. App monetization. Secure FinTech services made the appearance of the Freemium model possible, meaning the presence of paid features in a generally free mobile app.
3. Meeting customer demands. Already existing and new technologies make banking apps in the customers’ eyes more effective and secure.

As the leading trends in Fintech application development, artificial intelligence, blockchain, gamification, bots, and voice technologies shape the future of innovation. All of them possess the power to reinforce your business performance and customer experience even more.

FinTech Use Cases

These days, FinTech applications are very popular and serve the financial needs of various industries, including banks, insurance, and eCommerce.

Erica

Bank of America decided to build a FinTech app to enable mobile banking for their clients. Serving as a virtual financial assistant, this mobile solution has a diversified set of features:

• View all your bonuses in one place
• Check your balances across the accounts
• Get a weekly snapshot of your month-to-date spending
• Locate past transactions across accounts
• Receive notifications on refunds
• Monitor recurring changes
• Receive bill reminders and schedule payments
• Get alerts when duplicate changes occur
• Check important credit score changes

All-in-all, this solution facilitates everyday banking and provides personalized and proactive insights to support financial activity.

Lemonade

This FinTech app provides instant access to a diversified set of insurance services. The set of features includes claims, giveback, and policy 2.0. Handled by AI tools, claim management allows filing claims quickly and hassle-free. All you need to do is to press a “Claims” button, tell the app what’s happened, and let AI run its anti-fraud algorithms to instantly approve this claim or send it to the team.

Giveback is a service that lets customers choose a nonprofit organization to care for and send unclaimed money that is left. All you need is to sign Lemonade Policy, a radically simplified, modernized, and digitized insurance policy.

Shopify

As an eCommerce platform, Shopify adopts FinTech instruments to ensure safe payment processing in the system. This company is a striking representative of non-financial players that start offering financial services without leaving their industry. The term that represents this trend is “embedded finance.“

In essence, Shopify provides infrastructure for other eCommerce companies, including in-built FinTech solutions for trading. In particular, the platform has Facebook Shop integration and provides installment payments to clients who buy for the price between $50 and $1,000.

This way, the ability to offer secure and efficient financial services with FinTech tools generates profits and creates revenue growth for the company.

Development Tips: How to Create an Outstanding FinTech App

Normally, the FinTech application development process consists of these stages:

1. Product concept. The development process starts with defining your product, along with determining its purpose, researching the market, and calculating the possible risks.
2. Vendor selection. Once you know what you do, it’s time to answer the question, “Who?”. At this stage, check the resource base of each vendor carefully to make sure this company can become your reliable tech partner in the long run.
3. Technology stack choice. Selecting the exact set of technologies for developing FinTech apps depends on the expertise of the team and your budget limitations, among other factors. Make sure your choice has true value for money.
4. UI/UX design. The main focus of a FinTech app is to ensure the most satisfactory customer experience. It’s important that the design has full functionality and presents all these features in an easy-to-use manner.
5. MVP development. This product helps to test your product idea by investing a minimum in the app development itself. What’s more, you will get customer feedback right away and develop software so that it addresses their needs more accurately in the future.

In the FinTech app building process, it’s important to make wise decisions and consider all the opportunities in each development stage.

For example, the ideation stage should go beyond corporate brainstorming and include in-depth research, like PwC best practices. Moreover, MVP development isn’t effective without sufficient testing before the release.

From our development practice, going for outsourcing is the best choice in terms of cost-effectiveness and quality standards. These days, software development outsourcing is rising, meaning the ability to provide enhanced experience with AI and IoT, work with blockchain services, and stick to the highest cybersecurity standards.

Nevertheless, it’s important to make an informed decision about your tech partner and be aware of all the possible risks and pitfalls in your cooperation.

5 Main Features for Building a Fintech App

• API integration. It’s essential to link your FinTech app to other applications to guarantee a satisfactory level of user experience.
• Chatbots. Combined with AI capabilities, this technology provides customers with essential and accurate support and maintains this service 24/7.
• Notifications. The financial sphere is dynamic and constantly updated. Without the notifications feature, they will miss important news or have doubts about whether the transaction was successful.
• Security. FinTech apps deal with sensitive information, and it’s crucial to introduce at least a two-factor authentication defense for customers.

3 Core Tips to How to Build a Secure FinTech Application

Generally, the development of the FinTech industry has improved the security standards for mobile apps. That’s because the safety layer is the key one for FinTech apps.

Unfortunately, not every tech vendor is aware of it: most developers prefer to copy the quick solution from StackOverflow or introduce already existing crypto algorithms. That’s how buggy software has flooded the market.

In the given circumstances, FinTech security is one of the strongest ones in the mobile app development market. Below, you will find the exact things to do to make secure FinTech solutions.

1. Payment Gateway Protection

Providing a safe payment gateway is a must-have measure for secure FinTech development. Being a technology that collects and transfers data from a client to an acquirer, it acts as an interface between a merchant’s website and its acquirer.

In other words, it deals with sensitive personal information that should be protected accordingly. Among must-have measures, your Fintech app development company should add SSL for secure connections, have a PCI certificate, enable tokenization, and provide 3D secure authentication.

2. Dedicate Enough Time to Testing

Also, FinTech security comes as a result of passing a sufficient number of checks and validation. In the software development process, they happen in the testing stage. Being titled “penetration testing,” this set of measures is aimed at detecting vulnerabilities in the app and contributing to creating an attach-resistant code.

The effectiveness of this step depends heavily on a clear understanding of the app security requirements. Besides, QA testers should work through every possible scenario during functional testing. That’s why the professionalism of these team members is crucial in FinTech development.

3. Invest in IT Security as a Whole

Finally, it’s impossible to maintain FinTech security in a vulnerable IT ecosystem in the long run. That’s why it’s important to develop a defensibility approach, meaning the creation of a safe cyber environment as a whole.

In this context, the list of key measures includes leveraging a robust IT infrastructure, building secure application logic, ensuring web-server security, and writing secure code.

Intellectsoft Will Help You with FinTech Application Development

Ask us for help! Intellectsoft is a Fintech app development company that offers a wide range of financial software development solutions:

• Online banking: Create a state-of-art banking solution for your end-users, including custom platforms, mobile apps, security, UI/UX, and system integration.
• Blockchain and cryptocurrencies: Ask for solutions and platforms to increase services’ security, reduce transaction fee expenditure, and automate operations.
• Digital wallet: The range of well-made wallet apps that enable P2P payments, digital payments and money transfers, and in-app currency.
• AI and ML: Adopt cutting-edge technologies to build effective, automated, and highly accurate systems for delivering financial services.
• Trading and securities: Invest in securities trading, digital brokerage, blockchain ledgers, and AI automation with us.
• Robotic Process Automation (RPA): Enhance productivity, drive down costs, and streamline compliance with this intelligent automation solution.

Let Intellectsoft be your secure FinTech development partner! Speed up innovation using the power of our banking and financial services. Intellectsoft is eager to advance your efficiency, improve customer experience, and skyrocket business performance with future-proof technologies. Contact us now!

The post How to Create an Efficient and Highly Secure FinTech App appeared first on Intellectsoft Blog.

The financial accounting software is not an exception, as it helps to increase the business efficiency mostly by tracking the accounting transactions, managing the accounts of business (including the account payables, account receivables, business payroll, general ledger, etc).

Consequently, the growing market for accounting software solutions has significantly influenced its further development: in 2020 the total value of the accounting software market was estimated at $12.01 billion and, at a CAGR of 8.5% within the next 5 years, is expected to reach $19.59 billion by 2026.

The main reasons for the increasing demand in accounting software development are mostly related to the brilliant perspectives and numerous workflow improvements it can bring to the different businesses.

In this article, we’ll discuss what financial accounting software is, its main types, and the key benefits it can provide to the companies after the implementation.

Main Functions of Financial Accounting Software

Financial accounting software refers to the software that performs numerous accounting and bookkeeping tasks. This software is mainly targeted for streamlining the processes, reducing operational complexity, and optimizing the technology used for the core finance processes.

As a result, businesses can get a huge increase in the main KPIs, improved tasks’ efficiency, control, and quality.

Additionally, the accounting software solutions are cost-efficient and effective options for businesses to boost their competitiveness and enhance the performance for the successful partnership and fruitful collaboration.

According to PwC, the financial accounting software can also assist in accelerating the numerous decision-making processes using the finance process intelligence and cash intelligence features. For instance, this type of financial software can:

• Integrate different types of business data in a centralized hub
• Generate numerous cost-efficient business decisions via the scenario planning
• Display the suite of various KPIs and metrics using the specific dashboards and multimedia solutions
• Leverage the agile “what-if” solutions to analyze the future cash flow scenarios
• Provide businesses with dynamic data and advanced performance analytics

Thus, by implementing accounting software development, businesses can significantly improve their performance, uncover the effective options of accounting automation, gain valuable insights about the further dynamics of development and its enhancement as well.

The Main Types of Accounting Software

Needless to say, the types of accounting software are determined according to the specific financial operations the business employs. At present, we can classify the 3 basic categories of financial accounting software.

Invoicing / Billing Software

The financial accounting software that handles the invoicing/billing operations is traditionally responsible for the basic billing activities of the company. Additionally, they cover the daily accounting tasks of a business that includes cheque issuing, various payment notifications for customers, etc.

Payroll Management System

These accounting software systems cover the basic payroll registers, calculation of the employees’ salaries, cutting deductions, depositing the salaries directly into the staff member’s bank accounts, producing tax forms, and plenty of other different tasks.

Enterprise Resource Planning System

Also known as an ERP system, that type of accounting software solution is in charge of the entire operating system that covers product planning, material buying costs, inventory management, distribution and accounting, marketing, HR, finance, and more. Basically, that’s a huge system that handles the entire business performance from a financial aspect.

Benefits of Financial Accounting Software

No matter which type of software a business has intended to apply, any of these operates with strong potential and numerous benefits for the organization from any industry. Here, you’ll find the basic features of accounting software that companies would like to make use of.

Enhances and Simplifies the Accounting Processes

One of the major reasons why companies apply accounting software development is its availability for the non-accounting audience. The financial accounting software benefits the various accounting processes by automatically performing the key tasks and providing a clear explanation to each operation.

Saves Lots of Costs

With its automation feature, the accounting software can greatly enhance the numerous calculations and administrative procedures. However, it also enables the control of the companies’ revenue, which means the businesses become less dependent on the finance management experts outsourcing.

Provides the Transparency of Complex Processes

Another great benefit of using financial accounting software is that it can provide cost-efficient business solutions and prevent recurring human errors. For instance, this software can effectively calculate the accurate totals or provide the reporting data in time, which is essential for the successful performance of any business.

Assists With the Tax Laws Compliance

Good accounting software automatically contains the taxation laws compliance in its internal structure. With this feature included, the businesses can easily avoid the penalties and some other serious tax laws issues that can be detrimental to the company’s performance.

Improves the Customer Service

The current accounting software systems can significantly enhance customer relationships as well. Now, businesses can manage the billing and invoicing, reduce possible delays and prevent miscommunications as well.

Additionally, the accounting systems can send notifications and business emails, reminders of outstanding dues, and different types of notes, which increases the business’s credibility.

Therefore, the companies will boost customer retention and customer loyalty via the features applied in the process of accounting software development.

Thus, having spent some time and resources on software training, the accounting software systems allow the business owners to complete the basic accounting operations and comply with legal standards with ease and simplicity.

Tips to Develop an Outstanding Finance Accounting Software and the Core Features to Include

Accounting software development implies not only advanced knowledge in programming but also a deep understanding of the financial accounting processes. That is why finance management experts recommend including the following features of accounting software:

• Cash flow tracking
• Accounting analysis automation
• Transaction processing and management
• Payroll processing
• Auditing
• Tax laws reporting
• Invoice processing
• Budget management
• Smart prediction
• Data encryption

In order to save the accounting software cost, the companies tend to use the free accounting software or purchase ready-made options with specific configurations that can hardly be changed.

Consequently, the companies end up with the need of creating their own financial accounting software that will fully correspond to all the business goals and would provide the maximum data protection.

And that’s where the Intellectsoft development team works best: we’ve created the detailed step-by-step strategy for creating the feature-rich, cost-effective, and easy-to-use software solution that is directly targeted at your company or business. The essential steps for accounting software development should cover the following:

Research the Problem

Talking about the first step of any type of software development, it’s important to make detailed research regarding the main goals, specific needs, and pain points of a business the software should either resolve or enhance. According to PwC best practices, the preliminary project stage consists of:

• Conceptual formulation of ideas and alternatives;
• Determination of the key performance requirements and essential features to include, and also estimate the total cost of accounting software development;
• Presenting the demonstrational sample of the software, its concept, and how this can fulfill all the business needs;
• Research for the alternative methods of the development of the specific features, if available;
• Set up the performance requirements needed to comply with the business goals;
• Select the person in charge of the accounting software development process, who will run the final testing and make the adjustments.

Develop the Prototype

Before the development team goes directly into the coding, it’s essential to design the product prototype. By creating a model of the financial accounting software for a specific business, the clients can provide clear ideas of what they expect to see in the final software version.

Additionally, at this stage, it becomes much easier to determine all the features that should and shouldn’t be included in the accounting software as a result.

Start the Software Development

After the prototype is ready, the developers start working on the custom accounting software creation. At this stage, the team writes the code, performs the testing and debugging, adapts the software to the changes, and prepares the product for the general release.

Testing and Release

When the software is presented, it’s essential to monitor the financial software system for any failure indicators and security vulnerabilities, and adapt the product to the emerging industry trends. The professional team of developers will be also able to maintain the system and keep it up to date according to the basic business requirements.

Summing It Up

Accounting software development has become an essential yet efficient part of business improvement within any industry. Its implementation can provide numerous benefits for the small and large business units, including processes automation, informative performance insights, and smart development scenarios, which can assist in optimizing financial management.

Creating feature-rich accounting software solutions requires a deep knowledge of financial software development and detailed research of the specific needs of your business.

Cooperating with a dedicated team of developers, in this case, is the most effective option to get the best financial software that perfectly fits all your needs.

Intellectsoft has years of experience creating innovative solutions for the financial industry, so we are well-aware of the modern market trends and the needs of end-users. We treat the client’s business as our own, so we deeply immerse ourselves in the project in order to offer the best-fitting technological solution.

Are you looking for a reliable development vendor to create high-quality accounting software that would help to take your business to the next level? Then, contact Intellectsoft, and let’s transform the industry together!

The post Financial Accounting Software Development — Cost, Features and Security Measures appeared first on Intellectsoft Blog.

Historically today’s financial services and banking institutions have been too slow to adapt to a fast pace of tech development, especially in the area of service delivery and personalization.

And now the time has come! As current marketing and decision-making teams in financial services should focus on providing a unified customer experience, at the same time maintaining the privacy and providing custom-tailored recommendations to drive customers throughout their marketing journey.

What Is Personalized Banking? Could It Be Really That Important?

What is the groundwork for a unified customer experience? Remembering a line of different tricky factors that companies need to consider when dealing with their customers, below let’s have a look at personalized banking. This time – as the future of customer experience in finance.

Personalized banking is intended to deliver a value-rich service experience to end-users, taking into account their personal experience, demands, and historical customer profiles.

Helping to shape trust and seamless experience by eliminating problems even before it’s realized by a human, personalization in banking makes it possible for the industry to drive results and revenue owing to the following:

• Higher rate of engagement
• Higher rate of conversion
• Higher customer retention
• Higher customer loyalty
• Better customer experience
• Multi-channel marketing consistency
• Higher ROMI (otherwise, return on marketing investment).

What Are The Commonest Types Of Personalization In Banking?

Prescriptive Banking Personalization In Real-Time

Prescriptive banking personalization is aimed at guessing the intentions of the user and the commonest needs, based on historical data.

Highlighting different marketing contexts or global business goals, marketing, and software development teams can create a seamless and fully personalized customer experience on the go.

For example, providing users with live prescriptive recommendations during active online shopping – driving both active customer engagement and a higher rate of conversion. How can anything go wrong over there?

ML-Based Financial Service & Banking Personalization

Banking personalization driven by the machine-learning crack of technologies is built around using the full potential of intelligent ML-based software algorithms. Most of every successful use case in AI-driven automation is generally referred to as making maximum informed decisions and reaching more potential customers using individual behavior patterns.

How To Make It Happen?

Putting yourself in the shoes of the customer, it becomes apparent that people do not just want to get to know about some sort of new products or services peppered with loudly-voiced statements of their developers or owners.

Let’s face it – people just want to quickly get solutions to their issues as they arise. That’s exactly when personalization comes into play, helping banks and other institutions in the financial industry streamline their marketing pipe and turning customer experience into a fully controllable journey.

1. Leverage Banking Personalization Across Different Channels
2. Build Up A Personalized Web Content
3. Segment Customers With A Buying Cycle In Mind.

Leverage Banking Personalization Across Different Channels

Targeting multiple channels and using at least several sources of information is a great way of creating a 3-D view of a single customer. Here the most important thing is to employ a unified marketing measurement.

That would be absolutely central to driving the success of any banking personalization campaign. That’s why marketing and product development teams should pull together different shreds of data from multiple sources, parts of the company, and areas of business.

As a result, creating cohesive marketing material that raises an array of successful personalized marketing campaigns becomes a much easier thing to do.

For even better performance, we recommend spotting the right connections with potential customers – whether they are online or offline – to create a seamless marketing journey using different touchpoints based on previous touchpoints and behavior.

Building Up A Personalized Blog Content

A comprehensive content marketing view backed with a data-driven content creation process can become a powerful engine driving the whole integrated marketing strategy. And right here the financial and banking industry is no exception. Easier said than done, right?

First and foremost, don’t try to craft a one-size-fits-all content strategy, even in case you can afford to apply to some well-segmented demographics.

Instead, let’s optimize content blogs and other related resources using small (or at least moderate) segments. Later on, that would be much easier for marketers to directly reach the ones having the most interest in that topic. What about doing that in practice? We recommend creating targeted content by dividing potential customers into two categories:

• Based on use. For example, are your customers commonly using credit cards? Do they prefer operations with cash withdrawal? Probably, they are looking for home financing?
• Based on interest. Let’s say the average customer would not even look at a credit card with flight miles. So, any marketing content for promoting credit cards of that kind should keep that in mind, indeed.

Segmenting Customers With A Buying Cycle In Mind

As we already mentioned (that’s really important), having perfect timing is everything. Everyone in financial and banking services can not afford to promote their products or services simply based on global trends or current quotas. We believe that turning all of your CRM-based data into a smart software helper for smarter, better decisions could be an option.

Marketers just need to have their customer data split by every stage of their purchasing journey. By analyzing data using the right individually-tailored software toolkit, marketing teams and decision-makers can uncover invaluable insights on different things. Here are a few of them:

• Analysis. In service-based marketing, the customer’s journey never ends after the purchase. Make sure to offer data-driven to keep customers well-informed and professionally engaged
• Decision. Here your potential customers are ready to go. Give them the most straightforward way to purchase. And they will make it!
• Consideration. Remember that your customers must have already seen what your competitors have to offer. It’s just time to show them why a smarter, more affordable, and generally better look
• Awareness. Let people know more about your great products or services. Focus on needs instead of highlighting benefits – and you’re already halfway done.

Bottom Line

After all, current industry demands in personalized banking and modern financial software development aren’t all-new trends. They are just reshaping the original business models that used to pull customers to banks and other financial institutions far before the era of digital marketing.

So, something around fifty years ago people would go to banks knowing their teller counterparts simply on a first-name basis. But right now the market – and the whole wide web – is much more fragmented.

Here, at Intellectsoft, we are all about providing banks and other financial institutions with financial software development services aimed at driving their bottom-line results to a wholly new level of productivity. Check out the latest technologies and top-innovative solutions by Intellectsoft. 

Looking for something really specific or tailored exclusively to your business? Don’t hesitate, talk to our experts and find out more!

The post Personalized Banking As The Future Of Customer Experience In Finance appeared first on Intellectsoft Blog.

According to Deloitte, we face the rise of newly empowered retail investors who make decisions based on real-time information and are acquainted with increasingly sophisticated investment tools.

Practically, it means that users are constantly searching for new apps that will make their investment activities easier to manage and more effective.

Once you’ve decided to create an app for investing, several problems arise. Since there are so many outstanding investment apps on the market these days, it seems hard to make excellent software in this sharp competition.

Moreover, you require knowledge to recognize the exact must-have functions your app should have. This guide will provide you with the answers.

We’ll describe the core functionality of an investment app and provide practical recommendations on how to establish an effective development process and make it work for your benefit.

What Is an Investment App?

In general, an investing app is software that assists in handling various investment-related activities. The investment app may include managing publicly traded financial information, getting professional recommendations, and handling assets.

The exact appearance of investing apps is different, depending on the exact investment task it solves. There are numerous budget trackers, stock trading platforms, or social media apps for finance-preoccupied communities on the market.

Moreover, mobile investment apps can range from fantasy stock games (like Invstr and Wealthbase) to real-life robo-advisors (like Wealthfront and Betterment).

Notwithstanding the exact appearance and set of functions, the main aim of mobile investment apps is to facilitate and make investment activities more understandable and affordable for the wide public.

For this, investment apps offer a set of tools and benefits that even a newbie can try and gain profit right away.

Basically, an investment app can serve as your online financial advisor, coach, and assistant. Of course, that doesn’t mean that it makes investing less risky — but the software is an awesome tool to make this activity easier to start and handle carefully.

Types of Investment Apps:

1. Education-centered. This investing app type is designed to help beginners learn the basics of financial literacy.
2. Executing trades. This type of investment app allows trading stocks and can invest money on your behalf.
3. Brokerage apps. These platforms are designed for people who know what they want to buy. Normally, you can trade fiat currencies and crypto alike here.
4. Banking applications. These various forms of online banking platforms enable managing banking accounts, making deposits, and executing transfers.

6 Main Features of High-Quality Investment Apps

Mostly, investing apps have different features, depending on the exact focus product developers have chosen. Nevertheless, there is a set of basic traits each good investing app should have. We’ll disclose them here.

Feature #1. Personal Account 

An investment app requires a login procedure to reach a personal profile with a virtual private office. That’s why it’s essential to work on this step carefully. Make sure a personal account is as easy and intuitive as possible not to push off your clients from the very beginning of interacting with your app.

Feature #2. Digital Wallet

Basically, this is the place where the balance for future investments is stored. The main rule is extreme safety, along with easy accessibility for a person eligible to manage the assets stored there.

An investing app should support the connection with the bank and card network for timely updates and secure the data carefully on the phone. You can read more information on mobile wallets in this blog post.

Feature #3. Money Management Instruments

People don’t like simply having money. They want to invest their funds and make them work. Thus, your mobile app should satisfy these needs with various tools.

Depending on the exact appearance and your app development aims, you can include gamification elements, dynamically changing charts, credit management dashboards, tables comparing several investment opportunities, etc.

Feature #4. Chatbot

Instant access to support makes it comfortable for users to interact with an app of any type. Beginners can use this function as a platform to get expert advice. More experienced users can also benefit and fix the problems of using an app on the go. In general, the presence of a chatbot increases the trustworthiness of your trading app.

Feature #5. Security elements

Data protection is the must-have feature of any investing app. Consider adding powerful IDPS for handling DDoS attacks, encryption algorithms, two-factor authentication, anti-spam, and protection from phishing. The more protection tools you have added, the better for user experience.

Feature #6. Notifications

When it comes to investing, real-time alerts are a must-have feature. They allow users to track the performance and provide necessary adjustments timely. Frequently, the absence of timely notifications decreases the level of customer satisfaction with trading apps.

7 Tips to Develop an Excellent Investment App

Developing an investing app requires a careful attitude and taking into account numerous nuances. As a golden rule, it’s extremely important to find a reliable vendor and establish effective communication and constant dialogue with the development team. Get ready to understand the specifics of coding an investment app to be on the same page with your tech partner.

These 7 tips will provide the needed guidance for you.

Tip #1. Follow the Basic Implementation Plan for Development

As in any software development type, making an investment app requires proper preparation and execution. Make sure your tech partner is aware and capable of making a mobile app this way.

The basic development plan for making investment apps is the following:

1. Planning. Dedicate enough time to think about and strategize on the app you’re about to make. At this stage, you should ask yourself questions connected with your corporate aims. Does your business really need an app? What are the concrete advantages and performance improvements expected? Is this the best way for your business development? Last but not least, determine your risk tolerance for different scenarios when something goes wrong.
2. Picking a business model. After you’ve determined the business aims, it’s time for elaborating a business plan. Here, you should set the price for your services, determine the minimum amount needed to start, and calculate the commission your users will gain. It’s also recommended to do the market research and check your competitors on this step.
3. Building the core app. Together with the software development partner you’ve hired, launch the app mapping. In simple terms, it means developing an MVP for your mobile app product. Here, it’s important to ensure the presence and valid work of various networks, gateways, and mechanisms behind an app for investing.
4. Adding custom features. After you’ve reached the minimum number of features to make your mobile app work, you can add extra functionality. For example, you can invest in the next-layer security and introduce better UI/UX and gamification elements.
5. Testing. Once you’ve completed the raw development stage, it’s necessary to invite QA specialists. They will detect problems and bugs that will bother your users and adjust an app to make its functionality more smooth and effective.

Of course, not each investment app development strictly follows this procedure — especially when it comes to customized investing apps.

Nevertheless, this plan can serve as a sustainable basis to ensure satisfactory development results. By relying on the Agile methodology, you can progress with the development processes steadily and instantly solve disputes appearing on the way.

Tip #2. Work Hard on Making an Effective Algorithm Under the Hood

Most successful investment apps use the functionality of robo-advisors or an algorithm that assists in managing your investments. The advantage of this function is self-evident: it’s pure magic for users to get easy-to-follow and effective recommendations for their investment strategy.

Once effective, this mechanism encourages people to use your app more and more. Besides, this algorithm can automatically place spare money to low-risk ETFs, make regular transfers, and implement an investment plan you’ve prescribed.

Tip #3. Ask for a Minimum Sum to Enter an App

All top-performing trading apps are easy to start due to the minimum payment needed to install and try them. Some say $50 is enough to start investing, while the platforms like SoFi Invest need only $1 from you.

Notwithstanding the willingness to offer the minimum price to attract as many users as possible, finding the right sum to optimize your budget is essential.

The main rule is to consider the key requirements you’ll need to cover, including maintenance, support, and platform-related expenses. In this blog post, you can get more information on mobile app architecture to calculate the costs. The overview is relevant for investing apps for Android and investing apps for iPhone.

Tip #4. Don’t Overwhelm Users with Complex Registration

There is a typical procedure for using investing apps. Thus, while developing your own software, make sure the installation plan follows these steps:

1. Sign up (include an opportunity to use social media accounts for that),
2. Link to your bank account (also, make it easy for users to fund it in your app),
3. Pick an investment asset,
4. Access tracking the performance of your shares (the notifications features is highly useful here),
5. Trade assets.

Tip #5. Ensure the Highest Security Level Possible

The security of using an investment app is the basic concern for many users. Money is a highly sensitive topic, and your users are extremely careful because they share their essential financial information.

That’s why you should pay maximum attention to data privacy and the overall security of user experience while interacting with an app. Make sure your efforts are seen and easily recognized by your users.

The exact measures include (but are not limited to) providing SIPC insurance, data encryption, and various investor-related protections.

Tip #6. Apply APIs (Application Programming Interfaces) Accurately

For developing investment apps, you’ll inevitably need to use third-party APIs. They may take different appearances:

• Connecting a banking account
• Getting financial information
• Updating the market data feed
• Stock exchange
• Currency conversion

Here, it’s important to use reliable technologies only — for example, Plaid, Paybook, and Xignite.

Always check with your tech partner which technologies and tools they use to maintain the highest security and effectiveness.

Tip #7. Hire an Outsourcing Vendor

Make the most of your cooperation with the software development company on making investing apps by hiring the team on an outsourcing basis. For making SaaS products, this approach has several substantial advantages:

• Lower costs
• Quick set up
• Constant upgrades
• Easy access
• Scalability

To better understand the exact ways to benefit from outsourcing, read this blog post on outsourcing advantages. Moreover, you can learn more about effective collaboration with outsourcing vendors, the specific risks of software development outsourcing, and its fundamental pricing models from our recent publications.

All in all, hiring a reliable outsourcing software development partner ensures getting sustainable competitiveness in a technology-intensive market for an affordable price.

Contact Intellectsoft Developers for Building an Investing App

If you’re in search of an experienced and effective software development partner, we at Intellectsoft are eager to help! We have a vast portfolio of successful projects completed for companies of various sizes and working in different industries.

By referring to us, you can be sure: we’ll dedicate the maximum attention to your investment app and strengthen its functionality with the wide arsenal of top-performing tools and elements.

For more information, check our financial software development capabilities. If you need consultation or want to start the project with us, don’t hesitate to contact us directly and talk to our experts! Let us build an outstanding mobile investment app for your business benefit.

The post Key Features and Development Essentials for an Investment App  appeared first on Intellectsoft Blog.

According to the research, 54% of all e-commerce sales will be made through mobile devices in 2021.

For customers to be able to seamlessly make purchases through your website or program, it is vital to have a convenient and secure payment gateway in your program.

After all, as evidenced by the data of various studies, an inconvenient and dangerous payment system forces users to make purchases from your competitors, even if your product is much better.

According to the study, 11% of users abandon their order through a complex checkout system. 12% – if they need to enter too much personal information, 7% – if the list of payment methods is too small and the user cannot find the one he needs, another 14% – if there is no guest payment option on the site or in the program.

But integrating secure payment systems is not a very easy process. There are several factors to consider. Payment gateways must be secure, also include several payment methods, as well as support the ability to pay in multiple currencies.

What Is a Payment Gateway?

Before you learn how to make a secure payment gateway to ensure secure payments, let’s discuss what exactly payment gateways are and why they are so important.

A payment gateway is a technology that collects and transfers data from a client to an acquirer and then sends a notification to the client about the acceptance or rejection of the payment.

A payment gateway process involves verifying the customer’s bank card details, ensuring the availability of funds, and allowing the merchant to receive payment for a product or service.

This technology acts as an interface between a merchant’s website and its acquirer. Another function of the secure payment gateway is encryption of the confidential data of the client’s credit card in order to enable the anonymized transfer of the client’s data to the acquirer.

In simple terms, the secure payment gateway is a virtual analog of a point-of-sale terminal, which we can see every day in different offline stores.

The payment gateway process acts as a middleware between buyer and seller, providing secure payments. Using a secure online payment gateway simplifies the process of implementing the necessary software for merchants several times.

As noted earlier, this technology also manages the user’s confidential information, such as bank card number, expiration date, and CVV code.

Why Do Companies Need a Payment Gateway?

But still, why should you use a secure online payment gateway if it only serves as an intermediary? The problem is that secure payments through a website or program do not work the same way as through a terminal in a regular store.

It is impossible to physically swipe a bank card through the terminal, you can only rely on the data of the card that the client enters on the payment page.

But it is impossible to be completely sure that the user’s card is their own. That is why in such secure payments, where it is impossible to provide a physical card, the risk of fraud is very high. In such situations, payment gateways come in handy.

If you do not use a secure payment gateway to flow your online payments, it will be much easier for fraudsters to gain access to your customers’ bank card details, which will make your company very vulnerable and cause irreparable damage to your reputation.

By using a secure payment gateway, you can keep your customers’ bank card confidential information out of threats. In addition to protecting against fraud, the secure payment gateway also protects merchants from expired cards, insufficient funds, closed accounts, or exceeding credit limits.

How to Make the Payment Gateway Secure and Protected?

Payment gateways must ensure that merchants always receive funds from customers upon purchase and that they do not have to worry about credit risk and the possibility of fraud.

Still, it is almost impossible to completely prevent fraud. Fraudsters always improve their methods, and therefore such a disaster can befall anyone.

But by using a secure payment gateway, you can significantly reduce the possibility of fraud and prevent theft. Below are several ways that you can use to provide secure payment on your website or program.

SSL for Secure Connections

Every transaction that takes place through your company’s website or mobile application must be protected by SSL. With the help of SSL, it becomes possible to encrypt the confidential data of your customers’ bank cards, which makes this information protected from fraudsters.

The use of such technology not only increases the security of payments but also makes customers more inclined to purchase. SSL is indicated by a padlock icon in the address bar, and web addresses start with HTTPS.

When a user sees such an icon, he understands that he can safely make purchases through your site and not worry about the security of his data.

The secure payment provider you are using must be sure to use HTTPS for all of their services, and therefore you must make sure they also have an SSL certificate.

In addition, you should also regularly check the information about the certification authorities that you or they use. This will help keep your secure payment high.

PCI Certificate

When processing payments on your site, PCI is required. The Payment Card Industry Data Security Standards (PCI DSS) include guidelines that merchants must follow to protect sensitive user data when processing payments. Some of the requirements of this standard include:

• Use validated payment software at the point-of-sale or website shopping cart;
• Do not store sensitive customer data on computers;
• Encrypt transmission of customer data across any open public networks;
• Use a firewall on networks and PCs;
• Teach employees about security measures, such as protecting cardholder data.

One of the best news is that merchants do not have to adhere to and comply with PCI standards. All they have to do is choose the best service provider.

Sellers can leave it up to the payment gateway to follow the industry security standards and provide data encryption, which is required by PCI.

That is why the merchant can be confident in a secure payment gateway if he adheres to these security standards. Thus, payment gateways act as third-party solutions that provide merchants with the latest and greatest security measures they need.

Tokenization

Tokenization replaces all sensitive user data with a set of characters that were randomly generated. The use of this technology significantly reduces the risk of data loss.

One of the best methods is to use a token, which is a real bank card number. After the transaction, the user’s confidential data is sent to a special server, where they are securely stored.

Along with this, the seller receives a unique number. Using this number, the client can make purchases on the website or in the program. He does not need to enter all his data again, he can make payment in just one click.

If you use payment gateways with tokenization this will help you minimize the risk of payment fraud. You do not need to store all of your customers’ information, that is, the data of their bank and credit cards, on your server.

It is also important that the data is encrypted even before it reaches the database server.

3D Secure Authentication

3D Secure (Three Domain Secure) is a messaging protocol that involves three domains: bank, technology that processes the transaction, and the issuing bank.

This is an additional layer of security that helps prevent fraudulent transactions without a physical bank card. In addition, by using such technology, you automatically transfer responsibility from yourself to the issuing bank.

That is why, when a user wants to purchase on the Internet, he must necessarily confirm the transaction with a generated password, or a one-time PIN, as sent from the bank via SMS. This will help to significantly increase your defense.

Conclusion

It’s worth noting that there are several rules that both sellers and customers should follow to secure their business and carry out secure transactions.

Companies must use all of the methods described above if they want customers to be able to securely purchase their products or services directly through their website or mobile app.

As for customers, they should check the websites on which they make purchases so that their personal information does not get to scammers.

It is also important to enter only the information that is associated with a bank card and in no case send scanned documents or copies of bank cards.

It is usually quite difficult for companies to develop their payment gateway themselves. Today there are many companies involved in financial software development. But not every company can provide quality services and make a truly quality product.

If you consider integrating a secure payment gateway, make sure to work with an experienced software development vendor as Intellectsoft.

We have years of experience helping businesses secure their payment processing and would be glad to work with you on your project. Contact us today and we will discuss your project in all the details.

The post Secure Payment Gateway Integration: How to Make It Work appeared first on Intellectsoft Blog.

According to Deloitte, the term Fintech refers to computer programs and other modern technologies used by businesses that provide automated and improved financial services.

Investments in the Fintech field have been growing since the latest global financial crisis. Nowadays, Fintech solutions are considered as the potential recovery from the pandemic, as a means to solve some real problems that emerge at present.

The pandemic has also shown that physical proximity is not so important. The digital activities and the fluidity of the information combined together represent success in the future.

Fintechs have already changed the financial industry structure, ways to provide services, and their consumption. They have also influenced customers’ expectations while setting new standards for user experience.

Deloitte reports that investments in Fintech have increased from $12.7 billion in 2020 to $23.4 billion in 2021.

Financial services are poised for transformative change, big corporations and startups alike are pouring money into fintech investments.

They embrace the agility and flexibility promised by fintech solutions to develop innovative financial products that help people manage their money in new ways.

In addition, the rapid adoption of mobile applications makes it critical for organizations to develop ones to bring their services to customers via this channel. Consider fintech trends and use them to reinforce your company’s performance and customer experience.

Fintech Industry Trends in 2021

Statista shows that the number of smartphone users is over 6 billion people worldwide, and this number will grow even further. As a result, the number of mobile application users is also increasing.

For example, according to Statista, 43.1% of smartphone users in the USA in the Q3 of 2020 used banking and financial apps. The figure will continue to rise as fintech app development starts a new phase, using the latest solutions and trends.

Here is a list of fintech trends you should pay attention to in 2021 and further.

1. Artificial Intelligence

Contrary to traditional data analytics and robotic process automation, AI has four unique features:

• It will detect changes in data patterns and tune the model by itself. You do not need a data scientist to keep adjusting the model;
• When the data quality is not perfect, it can still create helpful insights for businesses to make decisions;
• When the data is coming in, we do not need to store, process, and transform it before creating analytics. Instead, it can just stream through the neural network, and the AI engine can pick up the pattern and help businesses serve customers;
• It can handle unstructured data. Therefore, we can apply AI in places like image recognition and voice recognition.

In financial services, the technology can be applied in three major areas. The first one is ML (Machine Learning), to create a propensity model.

Banks and insurance companies put ML on the websites or mobile channels and create real-time target marketing. They actually predict the product propensity of their customers based on their behavioral data in real-time.

The second application of AI is usually around NLP (Natural Language Processing). Some applications like chatbots contract intelligence where the AI can read the free text in a contract and detect non-compliance in the documentation.

The third application is face recognition. For example, many fintech companies ask their customers to take a selfie and a picture of their identity documents.

The machine can automatically match these two and help them do KYC (Know Your Customer) and onboarding.

To have AI work effectively, financial institutions need to have a lot of big data. So, when they have accumulated a lot of big data, many banks and insurance companies can tap into this pool of resources and create helpful business insights.

It is expected that AI and ML will become a more regular practice, specifically in AI-based chatbots development and usage. It will enable organizations to provide instant customer support and enhance their experience.

2. Blockchain Technology

Blockchain is becoming one of the fintech industry trends and is no longer associated only with cryptocurrency. The technology has a lot to offer for financial services and other industries, as its hash algorithm allows secure data sharing across the industry.

With Distributed ledger technology (DLT), banks, corporations, insurance, and logistics companies, etc., can share documents along with the trade flow on a trade finance blockchain network.

With all the authentic documents hashed on the chain, there will be no more forged documents and forged invoices for financing.

Besides, you can also use the hashed information to detect duplicated purchase orders which another bank has collateralized. With that, you do not need to expose sensitive information or customer privacy.

Blockchain also comes with smart contracts. A smart contract allows events to trigger payment transactions automatically.

For example, when the invoice comes in, it will be automatically reconciled with the purchase order, which will trigger the payment for the banks. These are going to improve the efficiency of the ecosystem a lot.

3. Gamification

One of the financial technology trends is gamification. Gamification solutions incorporate gaming activities into other fields and industries.

The practice is used to enhance customer experience and increase engagement levels. For example, companies develop different types of personalized programs, quizzes, cashback rewards, educational videos, etc.

4. Bots

Chatbots allow companies to have human-like conversations with their customers. Organizations try to incorporate chatbots into their fintech apps, as they are cost-effective, easily scalable, instantly available to the customers, data-driven, etc.  The chatbots in the financial field can be of three types:

• informational (provides general information, news, or push notifications);
• transactional (helps customers to complete transactions);
• advisory (provides information on the next steps based on customer interactions).

The technology has several benefits that include:

• user engagement: a chatbot can serve as a mediator between a company and its customers, providing instant communication;
• 24/7 and scalable: a chatbot can be one of your most loyal employees who is available all through the day and even at night. In addition to this, the technology is scalable and can be easily improved when necessary;
• intelligence advantage: chatbots deliver valuable insights about your customers that you can use for further business development.

Bank chatbots can help your customers check their balance, set financial goals, get spending insights, transfer money, pay bills, etc.

The technology is improving with the help of AI and voice recognition, thus enhancing the performance of the organizations and user experience.

5. Voice Technologies

Another popular trend in the finance industry is voice recognition. Some companies start to use voice-enabled technologies like Siri, Google Assistant, or Alexa, so the customers can use them to make transactions and other operations.

In addition, voice commands will reduce phone calls, so these solutions are to save time, make things easier, and help organizations perform more efficiently.

Fintech App Development: Useful Tips & Main Features

Financial services have to develop innovative solutions and incorporate them into their fintech app to provide high-quality services to their customers, secure personal data, inform about the latest news and programs, etc.

What are the main features that your application should possess?

Main Features Your Fintech App Should Include

1. Security: the application will contain sensitive data, so it is essential to provide a secure environment for your customers. Use different solutions for the customers to sign in. For instance, integrate two-factor authentication with face, voice, or fingerprint recognition.
2. Notifications: Keep your customers updated about special offers, loyalty programs, news, etc. It is also essential to send out notifications once any transactions are performed.
3. AI-enabled chatbots: Make sure customers can instantly receive requested data 24/7.
4. API integration: Establish connections with other applications so that customers can get additional helpful information via your app.

Fintech App Development Process

The finance mobile app development process includes the following stages:

1. Define Your Product

You should know the purpose of your application and how it can help your customers. Your team should conduct profound market research to see what is in demand, understand customers’ expectations, calculate the risks, and predict the profitability the solution could bring. Then, use all the available data to design a version of your product.

2. Build a Team/Find a Vendor

Find necessary resources to bring your project to life. You can build your team by hiring professionals individually or use outsourcing. Numerous companies have vast experience in the fintech app field, and they can help you choose the right solutions for your project.

If you decide on outsourcing, pay attention to the company’s portfolio, its employees, read reviews of the previous customers, so you can make the right decision, and be sure that you will get a high-quality product that will work efficiently and bring you advantages in this highly competitive field.

3. Decide on Technology Stack

When you have a team of professionals working for you, you can discuss and choose a technology stack for your application. There are numerous languages to develop apps.

The vendor or your team of developers will help you to choose the right one. It is important here to know your customers and which operating systems they use.

Decide whether you need a native application (that will work only on iOS or Android devices) or a cross-platform one (suitable for all platforms).

4. Create User-Friendly Design

The application should be easy to use and appeal to your customers. Ensure that a dashboard offers all the necessary features and it is not difficult to find essential information.

5. Develop MVP

A minimum viable product is necessary for application development as it will help you run tests before you launch the product. Then, ask your customers to use it and share their feedback with you.

No one but your customers will point out the weaknesses of the application. What is more, you will see what else is needed to be added to the application after tests.

Fintech App Success Stories

Financial software development only starts to accelerate as new solutions come into the fintech industry and prove numerous advantages for organizations.

Some of the companies have already begun to implement solutions to enhance the performance of their organization. For instance, Bank of America has developed a virtual financial assistant Erica who helps make money management more effortless.

Another example of fintech solutions implementation is Lemonade, an insurance company that uses AI, apps, and chatbots to digitize the insurance industry.

We, at Intellectsoft, empower hospitality companies and their workforces with innovative solutions and approaches. Are you and your organization looking for some?

Contact our experts to discover more about the development of applications for your organization and learn how you can get the most of them.

The post Fintech Trends in Mobile App Development: Tips, Trends, and Success Stories  appeared first on Intellectsoft Blog.

The new reality dictates the new rules, and all the banks are looking for new digital solutions to adapt. As Deloitte observers indicate, cloud computing appeared in the focus of IT leaders in banks these days as it assists in meeting changing customer expectations and developing alternative business models the best.

There are loud examples of partnerships between the banks and technology companies in developing cloud technologies already, Bank of America requested IBM Cloud Policy Framework for Financial Services and Banko Santander added Microsoft Azure to its hybrid cloud programme. You can join this club too!

These days, hybrid cloud computing will let your banking system adapt to the changing circumstances and benefits. As a mix of computing, storage, and services, it creates a digital environment that is flexible and secure enough to manage both sensitive and public information.

Depending on your needs and the particular data type, you can protect or scale your data and keep the pace and appearance of the existing workflows. Read more to get all the details on hybrid cloud technology!

What a Hybrid Cloud Is

In essence, the hybrid cloud is the technology that includes one public cloud (or several), a private cloud (as an on-premises data center), and the strong network connection between them in its architectural design. It’s helpful once you need to transfer data fast and secure in the dynamically changing business environment.

As a result, it’s possible to increase your computing capacities on the public cloud by not putting private information at risk. This is especially relevant when you store loads of private data and need to extend to a private cloud occasionally.

For example, the technology would be helpful for the university while announcing an annual admissions process.

The Key Differences between Public and Private Clouds

Two cloud components in the hybrid cloud have different characteristics, letting you benefit from both worlds.

The public cloud is the technology that relies on the third-party provider: some sort of virtual storage that hosts workloads and spreads information among multiple organizations.

In its turn, the private cloud is an on-premises data center. Usually, it’s local storage that locks the information and protects it from anyone without the granted access.

The strongest part of the public cloud model is cutting operational costs by outsourcing them to the cheaper technology that handles the processes efficiently.

In its turn, the private cloud provides the space for compliance to strict regulatory standards and is generally more customizable and secure.

Hybrid cloud architecture connects these two worlds, and the technology possesses scalability and flexibility along with improved security and policy-driven deployment.

Distinct Characteristic of a Hybrid Cloud Model

• The common data management for private and public clouds
• Ability to connect workloads in on-premises data storages and existing traditional systems with the public domain

Thanks to the internal compatibility, public and private solutions significantly facilitate scaling and saving essential resources on other business aims.

In short, the technology enhances computing and storage power and contributes to the optimization of resources. In the future, when the sensitivity of the information changes, you can easily transfer it to another cloud type.

5 Main Hybrid Cloud Benefits

1. Greater control over your private data. The biggest advantage of a hybrid cloud is its ability to protect sensitive information by not limiting the potential for scaling.
2. Single control center. You can store public and private data in one place, which significantly facilitates managing. There’s no need to access each cloud separately.
3. Smooth processing. Within a hybrid cloud, data circulates faster and doesn’t cause extra delays.
4. Greater security. The technology’s architectural design safeguards access to your private information by limiting its exposure to the public cloud.
5. Expand when fast and necessary. The flexibility of the hybrid model allows cutting resources on expansion with a public cloud.

Main Use Cases of Hybrid Cloud

Many industries enjoy the benefits of hybrid cloud computing. Among them, there are healthcare, financial institutions, and the representatives of the insurance sector.

In general, the technology makes it easy to connect your business needs with appropriate IT technologies. Here are the use cases when it’s relevant to request hybrid cloud services:

1. Introducing a new app. The technology helps test the new digital idea by not risking your privacy and not spending too many resources during the launch.
2. Sticking to international regulations. A hybrid cloud makes it easier to stay compliant with GDPR by effectively managing your private and public data. This way, you can protect yourself from penalties.
3. Fast computation. If your business requires fast yet safe expansion, hybrid cloud technology lets your workers keep managing their internal processes smoothly, even if the workload in the related digital space increases. No delays and problems will prevent you from the accelerated computation and steady business growth.
4. Separating workloads. You can divide information between clouds: leave sensitive information in the private space and run the rest of the applications on the public cloud.

Hybrid Cloud Adoption in the Banking Sector

When it comes to banks, hybrid cloud computing reveals its best as the place to safely store sensitive financial information but still scale.

With this technology, your organization can effectively separate data loads and transfer the relevant part to a cheaper public cloud. The profit is self-evident: you’ll meet the industry requirements and still remain flexible when it comes to the less regulated workloads.

Main banking problems hybrid cloud technology deals with:

1. Increase of payment transactions without a card.
2. Shift to remote work.
3. Digitalization of the bank branches.
4. Need for online documentation.

In the list of hybrid cloud benefits, the financial sector will get the most from dividing information between private legacy systems and cost-effective and efficient public clouds.

By maintaining this balance, you can implement various innovations fast, including the solutions we listed as top banking industry trends in 2021.

How to Start Implementing Hybrid Cloud in the Banking Sector

In essence, the technology adoption is a forward-looking move, as you never know in advance which information will become sensitive tomorrow.

In addition, the solution assists in shifting from traditional systems to digital banking smoothly, fast, and cost-efficiently. At the same time, it’s important to consider numerous aspects in advance to benefit from the software implementation the most. Here’s the proposal on the successful hybrid cloud implementation:

1. Revise your resources. Before you start, it’s important to clarify all the applications, information, and workloads you currently have. In addition, you should take into account the financial goals, including ROI, migration budget, and potential risks. Based on the data types and project tasks you’ve identified, you can pick the exact cloud transformation strategy that will work the best for you.
2. Encrypt your private data. Take care of your sensitive information first: make sure it’s safely stored in your local data center, has a backup, and has all the protection needed.
3. Work on software architecture. At this stage, you should involve a tech specialist who will revise the current IT architecture. Without proper preparation, the migration to the cloud will experience long delays, unexpected technical problems, and severe bugs.
4. Calculate the costs. Take into account the ways your infrastructure can reduce the usage, the maximum information you can move to the public cloud, and the possible changes in the sizes of workloads you can make. You can consult your tech assistant on the possible automation tools, scaling mechanisms, and hosting opportunities. This way, you will increase the predictability and profitability of your digital project.
5. Select the provider. Consider several options and investigate all the pros and cons of various technology providers to make the best choice for your particular case.
6. Don’t rush. Let the migration go step-by-step, so you can control the process and include the necessary changes on the way.
7. Check the connection. The network connection is critical for smooth hybrid cloud operation. That’s why it’s essential to test the synchronization between various storage types within the software.
8. Introduce the next security layer. You should protect not only your private cloud but the hybrid cloud overall. For this, the DevOps approach reveals its best. While introducing the upper-level security, check isolation of individual workloads, Firewall configuration, the presence of necessary controls and multi-factor authentication, and anti-virus system. There can be other security measures, depending on the specifics of your project.
9. Keep monitoring the software. As with any technological innovation, it’s important to check and update the software constantly to work as you wanted. For this, set the list of KPIs and keep in touch with the software company that made this tool.

Hybrid Cloud Implementation: Main Challenges

Since there are numerous stages on the way to building hybrid cloud solutions, it’s important to track the possible difficulties on the way. Here you can find the top 3 challenges you should be ready to face:

1. Complex software architecture. Your success heavily depends on the ability to manage the software promptly. The technology itself is a sophisticated link of protocols and networks, and it’s important to get the provider who understands how to build it accurately. Ideally, the solution should have a single, easy-to-use interface where numerous sophisticated cloud processes work under the hood.
2. Potential transfer problems. The role of proper connection and data handling is also tremendous. In particular, you need to ensure smooth and encrypted synchronization between two cloud types to make the technology truly work. Otherwise, you will experience latency problems and numerous bugs in the system.
3. Technical knowledge required. After the development stage, you cannot avoid the need for internal training. Using the software requires specific technical skills. That’s why your provider should not only be an expert in making a working solution but also be able to explain to your workers how to use it.

Where to Get Hybrid Cloud Services

If you’re interested in introducing the hybrid cloud computing model to your system, you can refer to us! We’re Intellectsoft, the tech company assisting businesses on the way to digitalization and automation of their processes.

For the banking sector, we offer a wide list of financial software development services. One of these tools can be yours!

Talk to our experts if you need to get professionally made hybrid cloud software for your bank. We’ll be happy to assist, share our knowledge, and become your reliable tech partner on the way to building this complex and efficient tech solution!

The post How Hybrid Cloud Technology Can Help The Banks Deal with Data Management appeared first on Intellectsoft Blog.

The industries try to use these solutions to keep up with new customer demands and survive the competition. Also, the purpose of digital innovations is to facilitate the work of companies, automate their operations, and enhance customer engagement.

Due to the worldwide pandemic, the percent of banking customers using their banks’ mobile apps has increased. According to the latest report by Deloitte, Bank of America’s business banking app witnesses a 117% growth in mobile check deposits.

Also, the report shows that 44% of customers choose to use mobile banking apps. So, the banks start to think about how to enhance the customer’s experience while using the application.

A possible solution is a gamification, but its usage is not limited only to a better customer experience. Businesses can take a lot from it, achieve better performance and engagement of their employees, and drive their organization’s digital transformation.

Gamification in Business: What Is It and How Can You Apply It?

Businesses from different industries implement Gamification strategies to enable high-quality performance and learn more about their customers. New technologies have changed our living experiences by making them more fun, efficient, and convenient.

What is gamification? It is a type of solution that uses gaming strategies and techniques and applies them in the non-entertainment environment.

In business, it means the usage of game design and mechanics, for instance, creating a challenge or competition and rewarding success.

The solution aims to motivate people to achieve their goals. It uses techniques from behavioral science to “nudge” people into achieving their goals that are different from the ones applied in video games and loyalty programs, as explained by Gartner.

Gamification uses game mechanics to trigger motivational affordance and create psychological outcomes for the users, leading to behavioral outcomes.

The educational and development sectors use this technology to enhance the learning processes and motivate the users.

Businesses take the essence of games and employ them in real-world operations. The implementation of the trend is not limited to the educational sector. You can also find it in e-commerce, banking, finance, sales, fitness, etc.

The Benefits of Gamification for the Businesses

Gamification solutions are simple to adopt into the processes of any business. Companies of any size and industry can use it and experience the following benefits.

The solution can enhance the engagement of both: your employees and customers. Companies should pay attention to the employees’ involvement, as the higher it is, the faster organization progresses.

Gamification allows more interaction, instant feedback, and a sense of achievement in the workplace. For instance, creating tracking of work progress will let your employees see their path in a project and develop ways to complete their tasks quicker.

Constructive and instant feedback will help your team to analyze their performance and benefit from it.

As for the customers, the solution helps increase brand awareness, promote brand loyalty, and enhance engagement. It is essential to build a strong connection between a customer and your organization.

There are several ways to apply the solution:

• establish purpose and meaning of tasks, so your employees know why they have to do them (for instance, send out notifications before each task);
• create leaderboards – they will help the users to see where they are among the others and sustain compatibility;
• feedback – it can come in various forms (emails, on-screen notifications, word of mouth, etc.), to promote motivation, congratulate users on achieving their goals, or encourage them to proceed to the next step of the project;
• points – give points to the users to encourage them to reach higher goals. They will help the participants to monitor their progress;
• badges – use them to identify the skills and experience within the team. Once someone accumulates a certain number of points, they can be rewarded with a badge;
• Goals – accumulation of points and badges will lead the users to the final goal, etc.

Gamification techniques vary in their nature, but they all aim to promote the active interest of the users, their engagement, and to modify their behaviors.

These and other gamification ideas can find ways of application in the baking environment.

Games play a significant role in reducing perception barriers, such as the difficulty of human relationships with the computer, the usability, the lack of security, and the ease of use of computer applications.

Also, interactivity in games influences the overall emotion and simultaneously increases the positive effects on the users.

Gamification in Banking: Ways of Application

Gamification challenges e-banking to develop and implement new features in traditional business applications, namely the elements and characteristics frequently associated with online games (e.g. easy process, attractive design, points, leaderboards, rewards, etc.).

The implementation of business software, with the game elements and characteristics, offers a powerful tool for imparting information, changing behaviors, influencing the decision-making process, enhancing customer engagement, and motivating customers and employees.

For most people, e-banking activities are not fun or attractive. The majority still prefers to conduct their financial operations at a physical point of sale with face-to-face services.

But today, banks seek diverse cognitive processes and various means to influence user’s attitudes regarding banking, such as offering fun experiences that motivate customers to spend more time online, which allows users to view new offers and buy more.

For instance, banks can launch apps with tutorials and explanations on paying taxes and doing transactions online. The companies can present this in the form of a challenge, so the customers will earn points for the completed tasks and exchange them for music downloads, movies, tickets to matches, theatres, etc.

Also, the app users can get points for online transactions and later exchange them for different goods offered by a bank. Customers can participate in online auctions, the more stakes the users make, the greater the chance for them to win exclusive services, e.g. a helicopter tour, free lunches, certificates, etc.

Another example of the solution within the banking sector is the use of virtual characters that guide users through different processes and provide them with valuable tips on how to reduce and eliminate monthly fees.

The Benefits of the Trend for the Banking and Finance Sectors

Gamification in banking has significant potential as it brings numerous benefits both for the banks and their customers. It has the power to:

• Enhance customer engagement online — the solution is based on the game mechanics, so it makes customers spend more time using the application and interact with the services;
• Broaden customer’s awareness of new services and products — banks that present information interactively and simplify the educational processes, let their customers learn about the latest products and services quickly;
• Ease the understanding of the banking operations — the easier it is to learn about the banking processes and operations, the easier it will be to increase customer’s financial literacy;
• Boost deposits — gamification can be used to increase customers’ savings by linking credit card spending with prize-linked savings;
• Reach for the new customers — as current customers experience new communication methods and interaction with the services, they will bring new customers. Apart from this, received data about existing customers will help you reach a wider audience;
• Change the behavior of the customers — when you increase loyalty to your brand, the customers will feel more comfortable with using online services;
• Gather analyze valuable data about current customers — the valuable insights about customers’ behavior will help your business come up with ideas for future development and enhancement;
• Enable faster digital transformation — the solution can serve as a simplifier of the transformation process for both employees and the bank’s customers.

Customer engagement in banking is one of the crucial benefits for the industry, as it brings more perks for the companies themselves.

It is essential to provide clear, helpful, and valuable information to your customers. In this way, you will win their loyalty and drive more investments into your organization.

Gamification Examples in Banking

Over the past ten years, gamification in banking has been successfully used, so more banks are willing to invest in this technology to enhance their performance and make services more efficient. Some of the bright gamification examples are:

• Monobank (Ukraine) — a digital bank that uses various techniques to deliver services to its customers in a fun way. They make spending financially rewarding, so the users get regular cashback. Another fun thing is that customers can make money transactions to other cards by shacking their phones.
• BBVA (Spain) — the bank decided to increase customers’ loyalty and launched helpful videos, explaining how the users can make transactions or how they can pay taxes online;
• The Moven (the USA) — the bank has created CRED, a gamified system that helps customers with their routine financial decisions.

The Implementation Process: Guidelines to Follow

It is possible to implement gamification in banking in several steps, but it requires developing a detailed and thought-through strategy. The following steps outline the process:

• program planning — study your organization and spot the operations or processes that can be gamified;
• program designing — think of the features that should be included, how customers and your employees will benefit from them, what helpful information you can deliver through new channels, etc.
• technology implementation — if you have a professional in-house software development team, you can set this task to them. In case you lack the right resources, your organization can use outsourcing services. There are teams of professionals that specialize in the solution development for the banking and financial industries;
• data analyses — use received data to enhance the existing techniques with new approaches. It will help you gather helpful insight about your customers, customize your services, and offer more personalized services, thus increasing their loyalty and engagement.

The Future Development

Although the notion of “gamification” is relevantly new, the solution has already proven to be a successful tool in driving new customers and retaining the current ones.

Currently, a large percentage of banks are undergoing the process of development and implementation of gamified programs.

Later, when the techniques are at work, the banks will pay more attention to data analysis. In this way, they can learn more about their customers’ behavior and develop, develop or add new gamified features to their applications.

Gamification in banking builds strong relationships with the customers and provides valuable insights and data that can be used for further development and enhancement.

We, at Intellectsoft, help banking and financial businesses to empower their workforces with innovative solutions and enhance their efficiency. Are you and your organization looking for some?

Get in touch with our experts and find out more about ways your company can apply gamification and how your business can start benefiting from this technology today!

The post Gamification in Banking: Reshaping the Businesses  appeared first on Intellectsoft Blog.

Basically, that’s because it has high effectiveness, provides valuable benefits, and enhances the processes automation to ensure better performance for any industry.

According to McKinsey, one of the industries that need ML implementation the most is the finance and banking industry.

As the sector operates tons of personal data, and billions of critical transactions every second, it becomes especially vulnerable to fraud activity. Scammers are always seeking its weak points to crack the servers or get the valuable data for the blackmailing.

However, because of its innovative characteristics, machine learning can greatly benefit financial industries by detecting and preventing such fraudulent activity, thus improving the entire system security.

In this article, we will discover how this process works and the main ways machine learning in finance can be used.

Let’s start right now!

What to Know About Machine Learning in Finance & Banking

Machine learning in finance is now considered to be one of the anchor points of different fields of finance and banking services as it performs critical tasks which include transaction processing and calculation, risk evaluation, and even behavior prediction.

Being a subset of data science, machine learning has also the ability to learn and improve from the experience without being programmed, which means the technology will be improving systematically.

Machine learning along with the entire artificial intelligence (AI) development, now radically changes and improves the traditional processes of financial services.

One of the critical aspects is detecting the fraud activities, providing the instant response to any suspicious actions, and getting plenty of valuable insights to learn from for fighting further cases of such activities. Here are some examples of how it works:

• Learns from the payment data to perform the services automatically. For example, ML technology can process the payment details for providing the analytics services.
• Detects the fraud activity and minimizes the risks of the intrusion into the payment system. For instance, machine learning can analyze the accidental false positives in fraud detection, thus preventing cost loss.
• Respond to the unusual aspects of payments. For example, ask for double authentication to confirm and complete the sale transaction.

Thus, thanks to the process automation and deep learning features, fraud detection machine learning can greatly improve the quality of the financial industry services and minimize the risks of the third parties’ intervention to protect the most critical and vulnerable processes.

Fraud Detection Using Machine Learning: Main Tasks

The finance and banking industry consider machine learning to be extremely helpful in financial fraud detection. Unlike the other innovative technologies, it will never be outdated, instead, it becomes even more valuable after being able to analyze more complex cases.

Furthermore, the services which have been established on the hand-crafted rules, which are also known as “if-then” statements, with the ML technology will be performed automatically.

According to Deloitte this greatly reduces the risks of missing suspicious transactions, detects similar cases, and prevents new ones.

So, let’s now cover which tasks can perform machine learning for finance.

Decreasing the Cases of Security Breach

Fraud is one of the most common issues the finance industry usually faces with. By operating with billions of dollars, tons of personal accounts, and large corporations, it becomes one of the primary targets for fraud.

And, when technologies become more and more developed and powerful, the number of fraud attacks also increases.

In addition to that, most financial units tend to store the big data online, which only introduces additional risks to the security breaches.

With the machine learning systems implementation, financial institutions can get various technologies to combat the frauds, create a set of rules that will be automatically improved with the times and provide the highest level of security to it.

Basically, it works by comparing every new transaction with the previous (personal information, data, IP address, location, etc) and detects the suspicious cases which should be checked additionally.

As a result, financial units can conduct credit card fraud detection using machine learning.

Analyzing the Credit Scoring

Nevertheless, machine learning and finance are not only about credit card transaction checking. It can also greatly benefit credit scoring automation, as it implies complex analysis of various data, such as personal information, payment history, current income, and even the credit history from other financial units before making the final decision about each case.

Machine learning can easily resolve this issue by involving various algorithms that are constantly improving to automate the process and enhance the quality of the credit scoring process, which means large investment savings and workflow enhancement for the financial units.

Besides, it can process not only the personal information of a debtor but also detailed processing of a person’s social media accounts to issue the quality report of the data analysis.

And, fraud detection using machine learning makes it nearly impossible for scammers to influence the credit scoring process and make a profit from it.

Suggesting the Best Investment Strategies

Financial fraud detection is also critical while choosing the best time and areas for investing. Before making any investment it is significantly important to evaluate all the risks and benefits you can get from this process.

Furthermore, the fraudulent cases in the investment at present practically always lead to the irreparable loss of finances, and that is where machine learning in fraud detection can really make sense.

The financial advisory systems provide you with the critical data where the possible risks and benefits are analyzed using the machine learning algorithms.

So, people usually consider that specific technology while leveraging the large investments, like different retirement or student loans, trading, investing, etc.

Machine learning for fraud detection helps people make sound decisions for their high-value financial transactions.

Why Do You NeedMachine Learning in Finance?

As you can see, ML technology can also bring great benefits to the financial industry. Along with the most important benefit of financial fraud detection, it can also provide the banking and finance units with the following gains:

Assists in Processing Big Data

Because of the necessity to work with huge amounts of personal and corporate accounts, machine learning can save lots of time, costs, and effort by automating the process of data analysis.

Besides, the financial institutions will be also able to ensure the data is secure, and can’t be obtained by third parties.

Reduces the Possibility of Human Error

In the middle of the last century, human error was the #1 issue of why financial institutions experience losses. Machine learning can replace human work by automating the traditional process in this industry, which means a lower error rate.

Is Transparent and Bias-Free

The decisions made by the machine learning systems in some cases might produce better and more transparent results than human judgments, but make sure the application has gained enough knowledge for more quality biases.

Makes Valuable Predictions

By using the specific algorithms and previous experience analysis, machine learning can provide a list of suggestions that might prevent and alert the financial units about the possible outcomes in different areas, like fraud detection, investment predictions, and so on.

Thus, the finance and banking industry will be able to apply preventive measures or change the current state of affairs, thus, getting more benefit from it.

Saves Operational Costs

With automating processes using machine learning, you can effectively perform different tasks, improve their accuracy and save huge investments of this process that are traditionally analyzed manually.

Thus, along with applying machine learning for fraud detection, financial institutions will also get the profit from its use in automating the data processing, making transparent and bias-free decisions, predicting various issues, and eliminating human error.

Being aware of these benefits, it is now one of the most popular and important technologies for the finance and banking industry.

Conclusion

As you can see, financial fraud and machine learning are practically inseparable at present times. By applying various rules and synthetic algorithms, it becomes just a perfect technology for automated financial fraudulent detection.

Unlike the traditional system of analysis, which is mostly performed by human decisions, it allows covering much more information and processes the big data in shorter periods of time, thus saving lots of investments, resources, and time for the financial units.

Fraud detection using machine learning allows creating new rules and more complex algorithms for analyzing various transactions and suspicious financial behavior thus minimizing the risks of financial loss.

That is why financial software development is now the major priority for the finance industry.

Our best expert teams at Intellectsoft, empower different companies and their workforces with various innovative solutions and approaches to develop the exact products they need for improving their performance.

Do you and your organization need one to enhance your business development?

Feel free to talk to our experts to learn more about machine learning technology and how your business can start getting profit from it today!

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