If there’s one thing that a business can benefit out of financial or business technology is how it has innovated processes in streamlining business operations. Finance establishments such as banks are faced with the challenge of adapting to the digital age which could help speed up processes or they lose over to competition that has embraced innovation.

Worldwide funding for such IT technologies have reached $13.8 billion in 2015 and the number keeps growing.

The entry of Artificial Intelligence (AI) into financial technologies has been proven to ensure more accurate data-mining and data-processing capabilities. It integrated a wide variety of database and network platforms to generate unbiased intelligence through machine-learning capabilities to improve resolution rates.

It functions to resolve issues upon detection and strategically designs a course of action to avoid another error in the future. It promises to eliminate bureaucracy, red tape or delays commonly associated with traditional financial and business practices.