Futuristic Banking Technology

Future is always filled with an expectation that is by product of the present day work and technology. We have taken the civilization to a journey of becoming a more secure and safe place for innovation. Banking is a sector that decides a country growth rate. So a technologically advanced banking sector will make the country more advanced not only in the field of bank but also the country stands globally.

A developing country like India must need strong banking sectors that not only help the bank sector but also give our country a special power amongst the other nation. There is a popular slag which says that all good is where the money is meaning the power relies over the money. Currently banking sector is working in a very basic banking tech that provides Missed call balance check number facility over the internet or other means. The promising future of India can be foreseen by utilizing some of the development stage banking tech which is as follows-

Machine Learning

Machine Learning is a technology which works by understanding your action for certain elemental interaction that you have initiated with the product or service. In simple words this technology will provide what you want and suggest which benefits your taste.

Artificial Intelligence

All the popular Sci-fi movies protest the AI and the functions that AI can provide. AI can incredibly help the banking sector by reducing the need of the banking staff and automating the process of banking for the customer.

Robotics Process

Robotics is the use of a robot in the bank branches counter to interact with the customer with the combination of the AI and Robotic process the banking sector can provide the users with a advanced banking tech that cannot be hacked and the whole world will have a safe and easy banking system.

Fully Digitized Banks

A traditional banking system is based on model where it is heavy and the organization has a lot of bank branches which makes it difficult to operate and therefore there are a lot of levels in a bank or any other organization that communicate with their hierarchy. Fully Digitize bank will be based on a fly light business model where on very less number of branches will be required to access to global customer and all this will be done using the internet. 

Cyber security

Cyber Security is the major concern when we are dealing with the internet banking and mobile banking for our banking needs. An extra measure is always recommended and appreciated as far as money is concerned. So more advancement like biometric tech for the banking purpose will improve and benefit the banking sector.

Source- Bank IFSC Code