The emergence of Banking-as-a-Service (BaaS)

Innovations such as Banking-as-a-Service (BaaS) services and platforms have evolved and emerged as one of the most efficient and cost-effective ways to deliver financial services. BaaS enables FinTech, as well as non-financial platforms to partner with banks to offer financial services, wherein banks manage regulations and operations, while the platform leads client acquisition and servicing.

Open Banking

The reliance on digital payments and self-serving banking facilities during the pandemic only reaffirmed the need for digitisation of the financial sector. Open banking is a technology-driven, API-enabled approach that allows banks and FinTech companies to deliver financial services using authenticated and aggregated customer data seamlessly. Several countries have introduced regulations that have compelled banks to deliver open banking in response to customer demands. In addition, FinTech companies everywhere are incorporating open banking standards into their products and services. Banks that don’t embrace open banking will limit their capabilities to service their clients better and limit their growth opportunities.

Use of stable coins in crypto space

Cryptocurrencies have emerged as a side product of blockchain technology. Although they are not new, they will continue to saturate many blockchain technology trends. With stable coins, you can make peer-to-peer payments. Furthermore, users can use them on smart contracts to conduct automated payments.

People can also use stables coins regularly, similar to Fiat money. For instance, you can use them like any other digital currency while making online purchases.

General adversarial networks

GANs, or General Adversarial Networks, are new ML trends producing samples that must be reviewed by networks. These networks are selective in nature and can delete any type of undesired content. GAN, like the government, has numerous branches that provide checks and balances to ensure accuracy and trustworthiness.

Businesses must innovate in order to achieve their objectives, and they must develop new and innovative ways to do it using technology. ML is the wave of the future, and every company is adjusting to this new technology.

3D Interactive Web Technology

Be it geospatial contexts or e-commerce, the border between physical and online is slowly declining. 3D interactive web technology in Web 3.0 will include virtual identities, interactions, and many more, which will grow in use.