How Can Staff Augmentation Help Your Business Grow?

How Can Staff Augmentation Help Your Business Grow?

22. September 2021|In Technology|ayushi goyalBy ayushi goyal|6 Minutes

Business leaders often look for technological solutions to make their business grow and scale. When it comes to software development or ecommerce website development, outsourcing the project can be a good idea. If you wish to have complete control over your project, consider staff augmentation. Is staff augmentation the right solution? How can one find an ecommerce development company to help you provide the best resources? Is outsourcing software development the best option?

Recruiting one or two or multiple qualified additional employees to meet the diverse business objectives. Companies of all sizes can leverage staff augmentation to add fresh talents or minimize expertise with minimal costs and time.

01. What is Staff Augmentation?

Staff augmentation is a business strategy that involves integration of skilled resources into your established workflow. Instead of hiring new employees and bearing the additional overhead costs, you can choose to hire dedicated resources to solve the immediate business requirements. Small agencies and startups prefer to augment their workforce along with a small team of permanent staff.

02. Why choose IT staff augmentation?

Staff augmentation bridges the gap between the talent pool with extensive skills and the availability of short-term open positions in an organization. Staff augmentation helps businesses enjoy numerous benefits such as faster time-to-market, reduced training costs, flexibility of managing projects, and saving on overhead costs. IT staff augmentation is considered to be a cost-effective method to gain huge business benefits.

Here are some common scenarios where staff augmentation can play a major role:

Case 1: Your in-house team is working on different projects for your clients, and a new project comes in. Your workforce doesn’t have the bandwidth to work on the new project.

Case 2: A new project won by your company needs specialized skills and your current employees don’t possess those skills and expertise. As you do not have enough time to train your employees for the new technology, you choose to hire dedicated resources.

Case 3: One of your employees takes a long absence due to some reasons such as illness or maternity leave, etc., and you do not want this to affect the project deadlines.

Case 4: You have grabbed the opportunity to obtain new projects, and you want to add resources to your team. You can find the right people for the job with staff augmentation and meet the rising needs of your enterprise.

Staff augmentation is all about hiring specialists on part-time or on a full-time basis for shorter long-term projects to ensure the best results and timely delivery. You can get new talents onboard much faster than hiring new employees to train the existing ones.

Team augmentation services involve allocating resources offshore, as an extension of a development team. The client company (the agency that hires such persons) gets complete control to manage the employees and their tasks on a regular basis.

03. Benefits of Staff Augmentation:

  • Adding new skills and expertise
  • Reducing cost of hiring
  • Save training costs
  • Meeting the project deadlines
  • Full control over hired resources
  • Reduce overhead costs
  • How does IT Staff Augmentation work?

Bellurbis offers highly flexible engagement models to help enterprises maintain the right staffing levels for different technological expertise. It takes the following steps to hire dedicated resources.

04. Identify the required skills and number of resources

First, you need to determine your exact requirements before you start searching for the right candidates to join your team. Define the qualifications and skills you need and find out how many people you need to hire for the projects. Identify the skills and expertise so that you can find the most suitable resources.

05. Review and selection

Bellurbis has a large pool of developers working on different technologies. We can share the resumes and portfolio of the available developers so that you can review them and make the right choice.

06. Interview

Clients can interview the available candidates and hire the suitable one to match your exact business requirements.

07. Continuous support and transparent communication

Once the agreement is signed, you’ll be able to communicate with the hired developers on a daily basis. The hired resources would send regular reports to the clients to update them about the progress of their project.

08. Closing Words

Whether you want to hire resources for an existing project or are looking to expand your horizons, staff augmentation can help you with successful execution of the projects.

Bellurbis has a large pool of talented and experienced professionals to help you achieve your business objectives. Hire our experts and ensure timely delivery of the projects at affordable prices.


AWS or Google Cloud: Which is better?

AWS or Google Cloud: Which is better?

22. September 2021|In Technology|ayushi goyalBy ayushi goyal|6 Minutes

Google Cloud Platform vs AWS? – This has been a question of debate for years.

Google Cloud Platform and Amazon Web Services (AWS) are competing clouds worldwide and most business owners get confused as to which provider should they pick. The fact is that both Google Cloud and AWS have been popular enterprise choices.

01. Why do enterprises choose AWS?

Businesses often look for new ways to reduce costs and cloud computing is a great way to save money. There is an ongoing war between Google Cloud and AWS over several parameters. It is a known fact that Google Cloud provides more affordable rates than its leading competitors. Though there are several advantages to choosing Google Cloud, eCommerce giant Amazon was the pioneer of cloud services. It offers scalable and flexible cloud computing services to organizations.

Amazon Web Services is the most mature enterprise-ready service provider offering the best capabilities that direct a large number of resources for various applications.

02. AWS offers flexibility

AWS has a dominant market position as it provides greater flexibility. As it offers numerous data centers all over the world, it also adds new data centers at a higher rate as compared to Google, it beats the Google Cloud platform.

03. Immediate Procurement

Amazon Web Services is considered to be a far better choice for most businesses. AWS can provide provision resources rapidly. Procuring a new server may take around 8-10 days. Organizations that need a server quickly can choose AWS and set up servers in a few minutes only. All you need to do is select the most suitable option and get started. You don’t have to call someone to discuss the requirements and wait for several days or a few weeks to hear back from them! AWS Tools and Elastic Load Balancing can be selected as per your exact business needs.

04. Security

AWS Cloud solutions provide an option to scale up and innovate while helping you maintain a safe and secure environment. You can pay for the services you use. As it offers an end-to-end approach, it helps to secure your infrastructure. Amazon Web Services offer your business more security at a lower cost as compared to an on-premise environment.

05. Google Cloud Platform

As a new player in the market with its data centers in 20 geographical regions, Google Cloud offers over 50 different services and provides a wide range of features to meet the diverse needs of businesses.

06. Better pricing plans

Google Cloud offers better pricing plans than its competitors given its per second billing plans. Users need to sign up and provide details for eligibility. The major benefit of using Google Cloud platform is that the user is not bound by its subscription to the pricing plan. If the user can get a better pricing plan, he/she can switch to another one. Google Cloud hosting monthly plans are cheaper compared to that of Amazon Web services.

07. Live Migration

“Live Migration’ is a top advantage of the Google Cloud platform. Amazon Web Services does not provide this feature. Live Migration allows the users to migrate their machines virtually. It enables the engineers to address the issues such as repairing, updating, and patching the hardware and software, without worrying about machine reboots.

08. Improved Performance

Google Cloud machines can handle more than 60,000 users without any hassles. Hence, you will not have to worry about a decrease in load times when you have a high number of visitors on your website. Clients who move to Google cloud platform experience great advantages.

09. Free Trials

Both Google Cloud and Amazon Web Services provide 12-month free trials. Users can avail of the AWS free trial with 750 hours monthly compute on Amazon EC2 Instance, 5GB storage, or Amazon S3. It also provides 750 hours on the Amazon RDS managed database service whereas Google Cloud offers a $300 credit trial that lasts for 12 months.

10. Which one is better? – Amazon Web Services or Google Cloud

Google Cloud is more generous than AWS, but each platform has its pros and cons. There is no clear winner. Business owners need to make the right choice depending on their exact business requirements and budget. AWS Cloud Solutions can be selected by large enterprises, especially multinational companies that have a presence at multiple locations across the globe. Google Cloud can be chosen for greater flexibility and speed.

Of course, there is no compulsion to choose any one of the two as you can take advantage of both of them by adopting a multi-cloud strategy. This will help you create the right environment to meet your business needs and pick the most suitable resources from the top cloud providers. Get in touch with our experts to know how we can help you.


What is the Future of Oracle JD Edwards?

What is the Future of Oracle JD Edwards?

22. September 2021|In Technology|ayushi goyalBy ayushi goyal|3 Minutes

Recently Oracle JD Edwards announced a new release strategy for the current Enterprise One 9.2 version.

Although this announcement is great news for Oracle JD Edwards users, however it is sometimes misunderstood. In this blog, we will clarify this major change which is easily misunderstood.

01. The Past

In recent years, Oracle JD Edwards issued a new major release of the product more or less every three years. So after 9.0 update 2, 9.1 it was followed by 9.2 in 2015. Every release had its own support horizon: 5 years for premier support and 3 years for extended support. Therefore release 9.2 was supported till 2020 on premier support, and until 2023 on extended support.

In parallel, Oracle JD Edwards practiced an agile working model resulting in a number of functionality and tools releases in between the main releases . In fact, releases 9.1 and 9.2 were more a roll-up of everything already delivered in previous years, primarily for the sake of the existing support model.

02. The Future

Now a major change materializes: Oracle JD Edwards announced it will stop delivering point releases purely for the benefit of the support model. So while everyone was expecting a release of 9.3 in 2018, Oracle JD Edwards extended the support of 9.2 till 2025 for premier support and to 2028 for extended support. In addition to this (and this is the strong part of the message): every year it will be decided if support for release 9.2 will be extended within another year.

So the fact there won’t be a 9.3 release is definitely not the end of the product roadmap, but the start of a new and better release strategy, one which exists already for years in cloud products.
Most of the more recent enhancements have been focused on things like an improved user interface, streamlined processes, and other incremental changes.

Now, how will it benefit you?

  • you have a longer support horizon

  • you get continuous product improvements

  • you can decide to apply new features and functions

Bellurbis helps a large number of JDE and Oracle customers to navigate all your decisions. It is important to objectively assess and define your path forward in order to be successful.

Please feel free to contact us to brainstorm ideas and discuss your options and path forward. We’re happy to be a sounding board as you continue your digital transformation journey!


Top 8 Technology Trends For 2021

Top 8 Technology Trends For 2021

14. June 2021|In Technology|ayushi goyalBy ayushi goyal|8 Minutes

Nobody knew how 2020 would end when it started. The coronavirus pandemic has forced businesses to adopt digital transformation more than ever before. The number of businesses that have moved online in the past six months alone is more than those in the last decade.

There’s a lot at stake for 2021. The question is whether mainstream technologies such as data analytics and AI will remain a force. Or will we see newer forms of technology dominating the year? Even if time is the sole judge and determinant, here are possible technology trends we believe will dominate 2021

01. Artificial Intelligence (AI) Engineering

Artificial Intelligence, or AI, has already received a lot of buzz in the past decade, but it continued to improve operations for many companies and businesses. The pandemic even made its usage more common. AI, data, and machine learning have played an unmatched role during this coronavirus period.

We have seen how AI has helped in the suggestions customers get when shopping on Amazon, or even when they are watching movies on Netflix. More companies will benefit from AI since the cloud continues to enable access to the rising computing power, software, and frameworks. It’s estimated that 45% of companies using artificial intelligence have increased their total spend per customer, and their ASPs.

02. Robotic Process Automation (RPA)

Like AI and Machine Learning, Robotic Process Automation, or RPA, is another technology that is automating jobs. RPA is the use of software to automate business processes such as interpreting applications, processing transactions, dealing with data, and even replying to emails. RPA automates repetitive tasks that people used to do.

For you as an IT professional looking to the future and trying to understand new technology trends, RPA offers plenty of career opportunities, including developer, project manager, business analyst, solution architect and consultant. And these jobs pay well. An RPA developer can earn over ₹534K per year – making it the next technology trend you must keep a watch on!

03. 5G Will Go Mainstream

All that talk and hype around 5G will become real in 2021. The need for a reliable and fast connection became urgent only a few months earlier. When digital collaboration, remote work, and videoconferencing became a part of our lives, we had to get ways to boost speed.

It was already clear enough for telecommunication companies that 5G was the way to go. The deployment of this technology will be important for different tools like IoT. About 51% of companies using IoT have noted an improved insight into customer needs, behaviors, and preferences. The value of 5G, therefore, will skyrocket in 2021.

04. Internet of Behaviors(IoB)

IoB is an upcoming trend that you’ll hear more of in 2021. Companies and businesses are taking advantage of technology to monitor consumer and customer behaviors. Some of the effective technological tools here include location tracking, big data, and facial recognition.

According to a prediction by Gartner, more than half of the global population will be under an IoB tool by 2025.

05. Cybersecurity Mesh

With the cybersecurity mesh, you can access any digital security asset – no matter its location. The benefit of this technology is that it allows people to place the security wall around individuals rather than the entire organization.

The sudden rise in remote workforces and cloud technology has affected the security of company assets outside the company’s perimeter. Thanks to the help of the cybersecurity mesh, the security perimeter goes beyond and covers individuals working remotely.

06. Anywhere operations

An anywhere operations model will be vital for businesses to emerge successfully from COVID-19. At its core, this operating model allows for business to be accessed, delivered and enabled anywhere — where customers, employers and business partners operate in physically remote environments.

The model for anywhere operations is “digital first, remote first;” for example, banks that are mobile-only, but handle everything from transferring funds to opening accounts with no physical interaction. Digital should be the default at all times. That’s not to say physical space doesn’t have its place, but it should be digitally enhanced.

07. Quantum Computing

Next remarkable technology trend is quantum computing, which is a form of computing that takes advantage of quantum phenomena like superposition and quantum entanglement. This amazing technology where quantum computing is finding applications is banking and finance, to manage credit risk, for high frequency trading and fraud detection.

Quantum computers are now a multitude times faster than regular computers and huge brands like Splunk, Honeywell, Microsoft, AWS, Google and many others are now involved in making innovations in the field of Quantum Computing. And to make a mark in this new trending technology, you need to have experience with quantum mechanics, linear algebra, probability, information theory, and machine learning.

08. Hyper Automation

Hyper Automation is the idea that anything that can be automated in an organization should be automated. Hyper Automation is driven by organizations having legacy business processes that are not streamlined, creating immensely expensive and extensive issues for organizations.
Many organizations are supported by a “patchwork” of technologies that are not lean, optimized, connected, clean or explicit. At the same time, the acceleration of digital business requires efficiency, speed and democratization. Organizations that don’t focus on efficiency, efficacy and business agility will be left behind.

09. Automated Report Generation

Many banks and financial services providers are utilizing RPA to automate manual tasks involved in report generation and are able to realize an immediate return on investment (RoI). Automating the report generation process includes a range of activities such as optimizing data extraction from both internal and external systems, standardizing the process of data aggregation, developing templates for reporting, review, and reconciliation of reports.

10. Account Closure Process

The end-to-end account closure activity involves a range of manual tasks such as checking documents’ availability in the bank’s records, sending emails to clients and branch managers, and updating the data in the system. RPA Bots can automate all of these manual tasks so that the knowledge workers can focus more on productive operations.

Technology Trends 2021 might have just gotten started. But, you will see major changes this calendar year. Look to see how these new technologies could impact you for the better


Multi Cloud with Oracle Cloud, Azure, and AWS

Multi Cloud with Oracle Cloud, Azure, and AWS

14. June 2021|In Technology|ayushi goyalBy ayushi goyal|3 Minutes

An on-premise ecommerce platform built on the Oracle Exadata Database Machine and Microsoft .NET applications. Or perhaps an ERP system that uses Oracle PeopleSoft applications, Office 365, and Microsoft Workplace Analytics, as well as Oracle Database with Oracle Real Application Clusters.

Which public cloud is the right place for those critical enterprise workloads? The best answer might not be either Oracle Cloud Infrastructure or Microsoft Azure. Indeed, the best answer might be “Both”.

Multi-cloud alliance

The Oracle and Microsoft partnership enables joint customers to deploy mission-critical enterprise workloads that span both Microsoft Azure and Oracle Cloud Infrastructure environments.

Such customers can run Azure analytics and AI, for example with Oracle Autonomous Database on the same workload.

This not only makes it easier for companies to have a backup cloud to aid in disaster recovery but also to split up workloads so that data architects and application developers can choose their preferred environments and tools.

The Oracle and Microsoft alliance also removes the burden of managing multiple service orders, networking configurations, and data transfers from different clouds across workloads.

Security

The range of standards that Oracle provides compliance with is one of the most comprehensive among the leading cloud providers, according to Omdia’s SWOT report.

While currently compliant with ISO 27001, SOC1, SOC2, PCI DSS, HIPAA/HITECH, FedRAMP Medium, and FedRAMP High, Oracle Cloud Infrastructure also follows a media destruction process adhering to NIST SP 800-88r1 and DoD emergency destruction and secret classification standards.

A new feature in Oracle’s Gen 2 Cloud is Isolated Network Virtualization, which isolates physical network interfaces and cards from each other, isolating an attacker who has gained unauthorised access to the network.

Customer support

Approximately 80% of Oracle’s customers stay in the Oracle Cloud for between one and three years, and 21% of them commit to three-year subscriptions, according to Omdia’s (https://omdia.tech.informa.com/) SWOT analysis.

Companies running their workloads on the Oracle Cloud Infrastructure Free Tier can get an enterprise-level support package, which includes two Oracle Autonomous Databases with powerful tools like Oracle Application Express (APEX) and Oracle SQL Developer, two Oracle Cloud Infrastructure Compute virtual machines, block, object, and archive storage, load balancer and data egress, and monitoring and modifications.

The report also shows more than 50% of Oracle’s customers increase their spend once they have moved to Oracle Cloud Infrastructure, and the rate of new customers moving to Oracle Cloud is more than 150% year on year.


Top 10 RPA Use Cases in Banking Industry

Top 10 RPA Use Cases in Banking Industry

14. June 2021|In Technology|ayushi goyalBy ayushi goyal|7 Minutes

Today, RPA has become an essential tool for most businesses, including banks. The banking industry is witnessing rapid turbulence caused by the global pandemic and economic instability. Amidst the COVID-19 situation, banks are looking for all the possible ways to cut costs and drive revenue growth. RPA in the banking industry is proving to be a key enabler of digital transformation.

There are numerous RPA use cases in banking. The list below highlights some of the most rewarding RPA use cases in the banking industry.

01. Customer Service

As banks handle multiple queries ranging from bank fraud to account inquiry, loan inquiry, and so on, it is extremely difficult for the customer service team to address them in less time. RPA helps the low-priority queries to be resolved, freeing the customer service team to focus on high-priority questions. RPA also helps to reduce the amount of time it takes to check customer details from and disparate onboard systems. The reduced waiting time and easy redress helped banks improve their customer relationships.

02. Compliance

With so many compliance rules, it becomes an arduous task for the banks to comply with each of them. RPA makes it easier for banks to adhere to the rules. According to a 2016 survey by Accenture, 73% of the surveyed compliance officers believed that RPA could be a key enabler in compliance within the next three years. RPA helps in increasing productivity by functioning 24/7 with fewer FTEs, improving the quality of the compliance process, and increases employee satisfaction by eliminating monotonous tasks and engaging the employees in tasks requiring human intelligence

03. Credit Card Processing

RPA-enabled automation for credit card application processing is another use case where banks have seen phenomenal results. RPA allows for the issuance of a credit card to customers within hours. RPA Bots can navigate through multiple systems with ease, validate the data, conduct several rules-based background checks, and decide to approve or disapprove the application.

04. KYC Process

While dedicated KYC solutions are emerging, it is also possible to use RPA bots to automate portions of the KYC process. For edge cases that require human intervention, the case can be forwarded to an employee. For regular cases, RPA bots can speed up processing times, improve security and compliance, and reduce error rates for this customer-facing process.

05. Audits

Banks need to reply to requests by the auditors for company audit reports. Bots have been used to find all the customer’s accounts year-end balances and return the audit to the audit clerk in the form of a Word document. This can reduce an average audit, which can take several hours to complete and an extensive audit that can take several days into an operation that can be completed in minutes.

06. Regulatory Monitoring

RPA can be used to scan regulatory announcements for future changes, to catch changes early, or to access the latest updates as new information is released. As regulation is established, changes may not always be apparent. RPA can be used to cross-compare notifications to show what has improved. This significantly reduces the time spent on identifying regulations and decreases the possibility of noncompliance fines due to errors.

07. Mortgage Processing

In the US, it ideally takes 50 to 53 days to close a mortgage loan. The process took time as the application had to go through various scrutiny checks such as credit checks, employment verification, and inspection before approval. A minor error from the customer or bank’s side could slow down the process and lead to unnecessary complications and delays. With RPA, banks can now accelerate the process based on set rules and algorithms and by clearing the bottlenecks that delay the process

08. Fraud Detection

One of the major concerns of a bank was the rising number of fraud cases. With the advent of technology, the instances of fraud incidents have only multiplied. Thus, it becomes difficult for banks to check every transaction and identify fraud patterns manually.

RPA uses an ‘if-then’ method to identify potential frauds and flag them to the concerned department. For example, if there are multiple transactions made within a short time, then the RPA identifies the account and flags it for a potential threat. This helps the bank to scrutinize the account and investigate for fraud.

09. Automated Report Generation

Many banks and financial services providers are utilizing RPA to automate manual tasks involved in report generation and are able to realize an immediate return on investment (RoI). Automating the report generation process includes a range of activities such as optimizing data extraction from both internal and external systems, standardizing the process of data aggregation, developing templates for reporting, review, and reconciliation of reports.

10. Account Closure Process

The end-to-end account closure activity involves a range of manual tasks such as checking documents’ availability in the bank’s records, sending emails to clients and branch managers, and updating the data in the system. RPA Bots can automate all of these manual tasks so that the knowledge workers can focus more on productive operations.

With so many advantages of RPA, banks must consider using it in all their functional areas to enhance customer experience and gain an edge over their competitors. It might seem to be a costly investment, but considering the value it delivers to the business, it can provide a good ROI within months of implementation.


Understanding Managed Services for IT

Understanding Managed Services for IT

14. June 2021|In Technology|ayushi goyalBy ayushi goyal|3 Minutes

Managed IT Services is when a company outsources certain IT functions to a third-party provider, referred to as a Managed Service Provider or MSP. These outsourced functions may be as basic as keeping IT equipment and other services functional all the way up to full IT team outsourcing

The goal is to either serve as an IT team for a company that has little or no internal capabilities or to support an experienced IT team by taking some of the day-to-day tasks off their plate.

Why are Managed IT Services important?

  • An IT company is motivated to do a very good job; they want to minimise problems for your organisation because they have KPIs directly linked to the efficiency of your IT.
  • You’re not an IT expert. Managed service providers take care of your IT so you can focus on running your business.
  • Managed services offer proactive support. So instead of your IT firm constantly fixing problems, they will actually try to identify problems before they happen, keeping your systems up and your problems down.
  • What IT systems do you need in 12 or 24 months’ time? Managed services help you think ahead and give you advice on what you need to be planning from an IT department.
  • Managed services give you access to a complete IT department. You don’t just get day-to-day IT support; you also get an IT manager so you can think strategically about how IT fits into your organisation.

A True MSP Partner

There are many MSPs out there offering a variety of services, to be consumed in a variety of ways. An ideal partner is one who is transparent in all their dealings with you and, most importantly, treats your sensitive issues, shutdowns or hiccups affecting your business, as their own.

Are you thinking of moving to a managed services contract?
At Bellurbis, we believe that through creating committed partnerships, engaging in our communities and empowering individuals to have a stake in the process, we create a collaborative prosperity that positively affects people, businesses and the world.

For more information about Managed Services, please get in touch with Bellurbis Technologies Pvt Ltd today.


Technology in Finance: What to look out for in 2021?

Technology in Finance: What to look out for in 2021?

14. June 2021|In Technology|ayushi goyalBy ayushi goyal|4 Minutes

Nobody knew how 2020 would end when it started. The coronavirus pandemic has forced businesses to adopt digital transformation more than ever before. The number of businesses that have moved online in the past six months alone is more than those in the last decade.

There’s a lot at stake for 2021. The question is whether mainstream technologies such as data analytics and AI will remain a force. Or will we see newer forms of technology dominating the year? Even if time is the sole judge and determinant, here are possible technology trends we believe will dominate 2021:

01. Digital-Only banks

Digital-only banks are extremely beneficial – nobody needs to spend a moment visiting any bank physically, no tedious paperwork to hands, and no queues for testing your patience. This is why they are developing in revenues and numbers worldwide.
Mobile banking apps are not new to the market. Most well-known, established banks around the world have them. Not surprisingly, it was fintech that had traditional banks to innovate in this way. The digital-only approach is the innovation that is being actively and successfully promoted by new-generation financial start-ups.
Visits to banks are going to drop 36% from 2017 to 2022 due to the rise of digital-only banks, and mobile transactions are to rise by 121% within the same timeframe.. Some other benefits include feasible cost management, fast bill payment, reset pins from home, real-time analytics, and fast balance review.

02. Biometric Security Systems

Mobile banking and other financial services become widely available – they are literally at the tip of one’s fingers. This, in itself, being an unbelievable achievement, at the same time, raises lots of security-related questions. Meanwhile, cybercrime increases day by day.
This means that the fintech organisations will have to rely more on biometric security systems as they are reliable and foolproof. However, the biometrics industry itself is at a transformative stage, and contactless biometric solutions are going to become popular soon.

03. Robotic Process Automation (RPA)

In 2021, we will witness more organisations adopting RPA to handle different backend tasks like security checks, customer on-boarding, account maintenance & closing, trial balancing, credit card and mortgage processing, among others. RPA allows fintech organisations to manage mundane yet necessary tasks efficiently, freeing up the human resources for other important tasks like customer service.

04. Blockchain

Blockchain technology has brought a level of transparency in financial transactions that once was unimaginable. Transactions have become much more secure since blockchain technology came into the picture and this has allowed the customers to trust the fintech companies that have this technology in place. Blockchain technology will play a key role in transforming the banking sector in 2021.

05. Autonomous Finance

Autonomous finance is on the top of the list of outstanding fintech innovations. Juggling work with utility bill payments, insurance, cable subscription, etc., can be overwhelming. Autonomous finance takes the burden off consumers’ shoulders and automates the financial decision-making process with Artificial Intelligence (AI) and Machine Learning. As more people try to create more time for themselves, they will be delegating recurring tasks to fintech solutions.

Opportunities in fintech are endless as the innovation thrives on the ever-evolving technology. Consumers want to do more in their finances and fintech solutions are rising to the occasion. With a track record of offering useful financial information, payment security, speedy and transparent transactions among others, fintech trends are fast becoming the standard in financial markets