The prestigious Fintech Meetup 2024 event held in Las Vegas was witness to valuable insights by Ankit Maharaj Singh, Senior Vice President of Strategic Growth, and Sharad Gupta, Vice President of AI and Automation. They laid emphasis on the importance of hyperautomation within the banking sector.
More than 5,000 financial professionals from across the world were part of the meetup. Singh spoke at length about the relevance of digital transformation, emphasizing that strategic growth and technology must walk hand-in-hand.
Gupta’s presentation focused on the powerful impact AI and automation are making in altering the fundamental banking operations. He zeroed in on hyperautomation, a mix of machine learning, robotic process automation, and AI, adding immense value to data analysis, risk management, and customer service interactions.
The need for hyperautomation was a central theme, with both leaders urging the traditional banking sector to align with this technology for a faster, error-free operational system. Hyperautomation also facilitates cost-effective alternatives and enhanced customer experiences.
Fintech Meetup 2024 addressed other significant aspects of ongoing digital transition like quantum computing, advancements in cloud-based solutions, data analytics, and the role of blockchain technology in secure transactions.
A special session wrapped up the conference by discussing upcoming trends of digital transformation, ensuring that the banking industry stays a step ahead amidst rapid technological advancements.
A variety of substantial advancements by financial entities were also shared during the event. These included collaborations by Cambridge Savings Bank, Blaze Credit Union, Waypoint Bank, M&T Bank and Zellis with various financial entities aimed at aligning their services with the digital age and optimizing customer experiences.
As hyperautomation continues its ascent, it’s slated to redefine the future of banking. Automation of major banking operations doesn’t just enhance efficiency and minimize risk, but it also promises a future in which banking services are personalized and instant. Proactive adoption will result into exceptional customer satisfaction, lower costs, and business expansion.
