In a recent article published by Economic Times on Dec 29, 2023, titled “Banks Told to Explore Dashboard with Real-Time Info on Services,” the Reserve Bank of India (RBI) has urged banks to embrace real-time transparency through the creation of an online dashboard. Anodot, a leader in business monitoring, is at the forefront of transforming the banking sector with its advanced real-time business monitoring dashboard designed for internal usage within banks. What does this mean?
IT automation delivers plenty of excitement for the financial services industry, with its power to make AI even more intelligent, as AI plays a part in today’s automation journeys.
From the Regulatory Lead to the Site Reliability Engineers (SREs) and development team, there are quite a few individuals involved in keeping a Financial Technology (FinTech) company compliant. And there are quite a few regulations to stay in line with: anti-money laundering (AML), know your customer (KYC), payment card industry data security standard (PCI DSS), the list goes on.
The state of financial services today spotlights core banking digitization and the bigger-than-life disruption it’s causing in the industry. It makes sense that going to the bank sounds like an errand people no longer need to run. Even though 77 percent of banking consumers still use traditional banks in some capacity, 43 percent keep their funds elsewhere, and 61 percent will likely switch to a digital-only provider, Galileo Financial Technologies found.
