#ai for fintech app

[botreetech]

Why Android is a Powerful Platform for Fintech App Development

With the increased need to automate financial processes and boost operating efficiency, FinTech app development is in demand. Read on why to choose Android for your app.

Read more: https://techplanet.today/post/why-android-is-a-powerful-platform-for-fintech-app-development

[mobiosolutions]

Unlock the future of your finances! Dive into our latest article exploring evolving fintech trends and discover how financial apps are morphing to make your money work smarter. 📲 From AI advisors to mobile banks, the future is at your fingertips. Are you ready to leap into the new era of financial empowerment?

[ibiixotechnologies]

Discover how artificial intelligence is transforming the finance industry, reducing costs, and driving innovation in this deep dive video. We explore the real financial implications of integrating AI into fintech, providing insights into investment, returns, and strategic advantages. Whether you're a startup or an established financial entity, understanding these aspects can revolutionize your approach to digital finance.

[aidevelopmenttips]

Solana as the Principal Base of DeFi

2024 will see Solana, widely regarded as the best DeFi chain, at the forefront of blockchain innovation. Numerous well-known projects, including Raydium, Marinade Finance, Saber, and others, are housed within its ecosystem

[jcmarchi]

Amazon now offers a phone-based palm scanning service for sign-up purposes - Technology Org

New Post has been published on https://thedigitalinsider.com/amazon-now-offers-a-phone-based-palm-scanning-service-for-sign-up-purposes-technology-org/

Amazon now offers a phone-based palm scanning service for sign-up purposes - Technology Org

Amazon’s palm scanning service now offers the convenience of sign-up directly from your mobile device.

Palm features used in personal identification. Image credit: Amazon

Instead of requiring a visit to a physical location, users can now enroll in Amazon One by capturing images of their palm using the newly launched Amazon One app, available on both iOS and Android platforms. This streamlined process enables users to set up their accounts swiftly, facilitating the use of palm scanning for authentication purposes at supported locations.

Previously, Amazon One enrollment requited visiting designated physical sites, where users could link their palm print to their Amazon account for various purposes such as making purchases or age verification.

[embedded content]

Presently, this service is accessible at all Whole Foods stores across the US, select Panera Bread locations, and over 150 other venues, including stadiums, airports, fitness centers, and convenience stores.

Amazon One utilizes advanced generative AI technology to analyze the unique vein structure of the palm, generating a distinct numerical vector representation for identification during in-store palm scans. It’s noteworthy that Amazon does not utilize raw palm images for identification purposes.

On the mobile app, Amazon employs AI algorithms to compare the photo captured by the phone’s camera with the near-infrared imagery obtained from an Amazon One device. Users are required to integrate a payment method within the app and upload a photo of their identification for age verification purposes if desired. Additionally, the app allows for the linking of loyalty programs, season passes, and gym memberships.

While privacy concerns surrounding the technology persist, Amazon asserts that palm and vein images are promptly encrypted and transmitted to a highly secure section within the AWS Cloud, specifically designated for Amazon One. It is in this secure environment that Amazon creates the unique palm signature.

Furthermore, Amazon emphasizes that the new app incorporates additional layers of anti-spoofing measures, and it explicitly prohibits the saving or downloading of palm images to the user’s device. Nonetheless, some individuals may remain apprehensive about relinquishing their biometric data, considering the irreplaceable nature of palm prints compared to traditional passwords.

Written by Alius Noreika

[zrixinc]

Software developers are implementing. advanced cybersecurity measures such as data encryption and secure transactions.

[hiehq]

AI In Finance

The implementation of AI in finance is the need of the hour for banks & financial institutions. hiehq.com/blog/ai-in-fintech

[arzelace]

5 Trends in ICT

Exploring the 5 ICT Trends Shaping the Future The Information and Communication Technology (ICT) landscape is evolving at a rapid pace, driven by advancements that are transforming how we live, work, and interact. Here are five key trends in ICT that are making a significant impact:

1. Convergence of Technologies

Technologies are merging into integrated systems, like smart devices that combine communication, media, and internet functions into one seamless tool. This trend enhances user experience and drives innovation across various sectors

Convergence technologies merge different systems, like smartphones combining communication and computing, smart homes using IoT, telemedicine linking healthcare with telecom, AR headsets overlaying digital on reality, and electric vehicles integrating AI and renewable energy.

2. Social Media

Social media platforms are central to modern communication and marketing, offering real-time interaction and advanced engagement tools. New features and analytics are making these platforms more powerful for personal and business use.

Social media examples linked to ICT trends include Facebook with cloud computing, TikTok using AI for personalized content, Instagram focusing on mobile technology, LinkedIn applying big data analytics, and YouTube leading in video streaming.

3. Mobile Technologies

Mobile technology is advancing with faster 5G networks and more sophisticated devices, transforming how we use smartphones and tablets. These improvements enable new applications and services, enhancing connectivity and user experiences.

Mobile technologies tied to ICT trends include 5G for high-speed connectivity, mobile payment apps in fintech, wearables linked to IoT, AR apps like Pokémon GO, and mobile cloud storage services like Google Drive.

4. Assistive Media

Assistive media technologies improve accessibility for people with disabilities, including tools like screen readers and voice recognition software. These innovations ensure that digital environments are navigable for everyone, promoting inclusivity.

Assistive media examples linked to ICT trends include screen readers for accessibility, AI-driven voice assistants, speech-to-text software using NLP, eye-tracking devices for HCI, and closed captioning on video platforms for digital media accessibility.

5. Cloud Computing

Cloud computing allows for scalable and flexible data storage and application hosting on remote servers. This trend supports software-as-a-service (SaaS) models and drives advancements in data analytics, cybersecurity, and collaborative tools.

Cloud computing examples related to ICT trends include AWS for IaaS, Google Drive for cloud storage, Microsoft Azure for PaaS, Salesforce for SaaS, and Dropbox for file synchronization.

Submitted by: Van Dexter G. Tirado

[appicsoftwaresteam]

How To Develop A Fintech App In 2024?

FinTech, short for financial technology, represents innovative solutions and products that enhance and streamline financial services. These innovations span online payments, money management, financial planning applications, and insurance services. By leveraging modern technologies, FinTech aims to compete with and often complement traditional financial institutions, improving economic data processing and bolstering customer security through advanced fraud protection mechanisms.

Booming FinTech Market: Key Highlights And Projections

Investment Growth In FinTech

In 2021, FinTech investments surged to $91.5 billion.

This represents nearly double the investment amount compared to 2020.

The significant increase highlights the rapid expansion and investor interest in the global FinTech market.

Projected Growth In Financial Assets Managed By FinTech Companies

By 2028, financial assets managed by FinTech firms are expected to reach $400 billion.

This projection indicates a 15% increase from current levels, showcasing the potential for substantial growth in the sector.

Usage Of Online Banking

About 62.5% of Americans used online banking services in 2022.

This figure is expected to rise as more consumers adopt digital financial services.

Key FinTech Trends In 2024

1. Banking Mobility

The transition from traditional in-person banking to mobile and digital platforms has been significantly accelerated, especially during the COVID-19 pandemic. The necessity for remote banking options has driven a surge in the adoption of smartphone banking apps. Digital banking services have become indispensable, enabling customers to manage their finances without needing to visit physical bank branches. 

According to a report by Statista, the number of digital banking users in the United States alone is expected to reach 217 million by 2025. Many conventional banks are increasingly integrating FinTech solutions to bolster their online service offerings, enhancing user experience and accessibility.

2. Use Of Artificial Intelligence (AI)

AI in Fintech Market size is predicted at USD 44.08 billion in 2024 and will rise at 2.91% to USD 50.87 billion by 2029. AI is at the forefront of the FinTech revolution, providing substantial advancements in financial data analytics, customer service, and personalized financial products. AI-driven applications enable automated data analysis, the creation of personalized dashboards, and the deployment of AI-powered chatbots for customer support. These innovations allow FinTech companies to offer more tailored and efficient services to their users. 

3. Development Of Crypto And Blockchain

The exploration and integration of cryptocurrency and blockchain technologies remain pivotal in the FinTech sector. Blockchain, in particular, is heralded for its potential to revolutionize the industry by enhancing security, transparency, and efficiency in financial transactions. 

The global blockchain market size was valued at $7.4 billion in 2022 and is expected to reach $94 billion by 2027, according to MarketsandMarkets. These technologies are being utilized for improved regulatory compliance, transaction management, and the development of decentralized financial systems.

4. Democratization Of Financial Services

FinTech is playing a crucial role in making financial services more transparent and accessible to a broader audience. This trend is opening up new opportunities for businesses, retail investors, and everyday users. The rise of various digital marketplaces, money management tools, and innovative financing models such as digital assets is a testament to this democratization. 

5. Products For The Self-Employed

The increasing prevalence of remote work has led to a heightened demand for FinTech solutions tailored specifically for self-employed individuals and freelancers. These applications offer a range of features, including tax monitoring, invoicing, financial accounting, risk management, and tools to ensure financial stability. 

According to Intuit, self-employed individuals are expected to make up 43% of the U.S. workforce by 2028, underscoring the growing need for specialized financial products for this demographic. FinTech companies are responding by developing apps and platforms that address the unique financial needs of the self-employed, facilitating smoother and more efficient financial management.

Monetization of FinTech Apps

1. Subscription Model

FinTech apps can utilize a subscription model, which offers users a free trial period followed by a recurring fee for continued access. This model generates revenue based on the number of active subscribers, with options for monthly or annual payments. It ensures a steady income stream as long as users find the service valuable enough to continue their subscription.

2. Financial Transaction Fees

Charging fees for financial transactions, such as virtual card usage, bank transfers, currency conversions, and payments for third-party services, can be highly lucrative. This model capitalizes on the volume of transactions processed through the app, making it a significant revenue generator.

3. Advertising

In-app advertising can provide a consistent revenue stream. Although it may receive criticism, strategically placed banners or video ads can generate substantial income without significantly disrupting the user experience.

Types Of FinTech Apps

1. Digital Banking Apps

Digital banking apps enable users to manage their bank accounts and financial services without visiting a physical branch. These apps offer comprehensive services such as account management, fund transfers, mobile payments, and loan applications, ensuring transparency and 24/7 access.

2. Payment Processing Apps

Payment processing apps act as intermediaries, facilitating transactions between payment service providers and customers. These apps enhance e-commerce by enabling debit and credit card transactions and other online payment methods, supporting small businesses in particular.

To Read More Visit - https://appicsoftwares.com/blog/develop-a-fintech-app/

[sourcreammachine]

TORY PARTY MANIFESTO 2024 SUMMARY

tldr: little rishi is liz truss now. words 8, 9 and 10 of the manifesto are 'covid and ukraine', so they're swinging hard on excusemaking, and it's very negativist and defensive - attacking labour and justifying their terrible government. they know they’re losing so it’s a mess in an attempt to stop their base voting reform. this is the only major manifesto whose headings are written in serif, tryna act all official and luxe

💷ECONOMY

flat-rate employee national insurance cuts from 12% to 6% over the next two financial years, allegedly cutting income taxation for a £35k/a worker by £1,350 (their numbers) BUT also giving the highest 'employee' earners this same tax-cut

trickle-down economics: keep corporation tax at extreme lows

exempt the self-employed from national insurance contributions, essentially cutting overall income taxation by a couple percent

specific, direct threat to cut benefits for 'people of working age with a disability or health condition', restrict PIP entitlements with harsher assessments, massively expand 'fit to work' status over people with mental health and mobility conditions to remove benefits from 400k people (despite the current regime leading to misery and deaths), transfer fit note responsibility from GPs to the dwp to restrict more benefits, reduce the 'claimant review' date from 18 months to 12 months without work

transition child benefit entitlements to be based on 'household' earnings rather than individual earnings

"we will not increase the number of council tax bands, undertake an expensive council tax revaluation or cut council tax discounts, as labour is currently doing in wales", preventing councils from getting more property tax revenue whilst not increasing their funding from anywhere, enabling more and more and more and more councils to shit themselves and die, letting them blame labour for "bankrupting" the councils that the central government themselves squeezed to death

ban councils doing four-day week schemes

reduce net borrowing – curious considering the unfunded nature of the manifesto proposals

increase taxes on online distribution warehouses "to help the high street" [citation needed]

"use brexit freedoms" to recategorise many 'large' businesses as 'medium', exempting them from reporting requirements and allowing them to exploit their workers more

more fucking 'freeport' special economic zones

'strengthen the commonwealth' because that's the favourite excuse of europhobic excusemakers acting like severing trade with the mainland wasn't a horrifically bad idea. india and malaysia do not give a shit about us mate and it's ridiculous to think australia and guyana could ever offer as much economic integration as the mainland can

do nothing to supervise or control the City with a specific eye to doing nothing about "fintech" and "ai"

economic commitment to continue union-busting and restricting union rights, 'continue implementing' the so-called 'minimum service levels legislation' to enable strikebreaking and mandatory scabbing

🏥PUBLIC SERVICES

continue the privatisation of the NHS but with a focus on small/medium enterprises

expand, that's right, expand the indefensible multi-academy trusts, build more indefensible 'free schools' (ie with private charters, no oversight, and public cash), expand faith schools, strengthen ofsted to be even more bureaufascistic against attacks after that headteacher's suicide

continue and enforce the ongoing propaganda push into primary schools, "we will always support teachers to uphold and promote fundamental British values"

'close university courses with the worst outcomes' [clarification needed], again, threatening the higher education sector into compliance with their whims

stick all children not in school on a register

make the NHS app a single frontend for all NHS stuff

slash the size of the civil service and 'bring quango spending under control', incorporate so-called 'ai' into the civil service [clarification needed]

🏠HOUSING

lax planning laws including environmental protections and opportunities for legal challenge, and force councils to set aside land for builders, to allow more private-finance soulless newbuild sprawl, with no new infrastructure, no new community, only house-for-sale after house-for-sale

target the building of mcmansions on inner-city brownfields

expand help-to-buy for these horrible newbuilds

restrict social housing along xenophobic and classist lines: "we will legislate for new ‘local connection’ and ‘uk connection’ tests for social housing in england, to ensure this valuable but limited resource is allocated fairly"

'reform' leaseholds and cap ground rents, not abolishing this indefensible stain

give 105 towns a pathetic £20m

🚄TRANSPORT ?

build northern powerhouse rail including Bradford Station "using money saved from HS2" and £12b more, and upgrade the east midlands mainline

lax planning restrictions on new strategic (big and polluting) roads

deliver money centrally for transport projects: £1.75b for the midlands rail hub, a pathetic £1b for buses in the north AND in the midlands, and £13b for 'local priorities' to 'cut congestion' (read: roads)

introduce a specific 'death by dangerous cycling' offence

"automated vehicles will be on British roads in the next parliament"🤮

ban low-traffic neighbourhoods except on a 'road by road basis' 'with the support of the people who live there' and create a statutory right to challenge existing LTNs

"labour’s incoherent and ideological nationalisation plan would put the trade unions in charge", ie the incoming british railways (being set up) will continue the indefensible franchise-concession system that emerged after the final collapse of the franchise system in 2020

"include measures to reform outdated working practises in the rail industry" – ie forcing through driver-only trains and other things the drivers are striking against, possibly requiring strikebreaking them

👮FORCE

"in recent months we have seen shocking increases in protests being used as a cover for extremist disruption and criminality. we cannot allow a small and vocal minority to destroy our democratic values. that is why we unveiled a new extremism definition under which certain groups that promote an ideology based on violence, hatred or intolerance will be blocked from government funding and meeting officials. we have passed tough new laws to curb disruptive protests. our public order act 2023 [ie the Bill that the kill the bill protests were trying to kill] gave the police new powers to intervene where protests cause serious disruption to communities, leading to the arrests of over 600 just stop oil and extinction rebellion protestors in London alone. we will introduce further powers to ban face coverings, pyrotechnics and climbing on war memorials. we will strengthen police powers to prevent protests or marches that pose a risk of serious disorder, by allowing police to take into account the cumulative impact of protests"

"building on our new powers for the police, we will further speed up the use and enforcement of powers to remove illegal traveller sites, while giving councils greater planning powers to prevent unauthorised development by travellers", furthering the ongoing clampdown on the civil rights of our country's GRT people

surge funding for the armed forces

deliberate target to be europe's largest arms exporter by 2030 no i am not fucking joking

sabrerattle at the 'Axis of Hostile Actors' (russia, china, iran), giving a catchy name to the other side of this little cold war of theirs

abuse the permanent un council seat as much as possible

"we will push for a two-state solution in the middle east - our long-standing position has been that we will recognise a palestinian state that is most conductive to the peace process" [oxymoronic – SEE ME]

roll out broken windows policing

mandatory minimum of life for 'most heinous murderers', prohibit parole for rapists

not enact Leveson 2 and allow the press hate speech and corruption to continue, proceed with centralised renegotiation of BBC funding with all statecapture (or the effects of the threats thereof) that may entail

half-baked national service proposal. look, they know they're gonna lose so they've come up with this faff to win over their base. all 18-year-olds (no specific enumeration given so i'm guessing it means from yer 18th birthday to 19th birthday, interfering with exams and start of uni) forced to do one weekend a month 'community volunteering', or get one of 30k places in the military (out of a typical annual cohort of 400k) for a year, so the troops get distracted from their warcrimes by being forced to do childcare lmao. the compulsion to do this is not enumerated, with one rogue minister suggesting fines could fall at the feet of the parents of these adult people. takeaway: this is total nonsense and they don't have to make it make sense so who cares

legal cap on work and family visas, screen migrants for health conditions and force them to pay if they need treatment, do the rwanda concentration camp scheme, ban asylum seekers from countries 'that don't work with us', mass deportations of illegals [clarification needed]

LEAVE THE EUROPEAN COURT OF HUMAN RIGHTS if it finds against the rwanda concentration camp scheme

expand the NCA with a focus on being the hostile environment

promote the imperialistic ambitions of the anglosphere and english as the cosmocratic imperial lingua franca

only 30k of the so-called 'national service' would in the military, so basically forcing the military to do daycare

commitment to continued strikebreaking and union-busting

force landlords to evict "antisocial" tenants in a 'three strikes and you're out' policy

ban mobile phones in schools

pledge for a Bad Internet Bill to restrict online content, 'carefully consider' the bertin review to implement hostile measures against pornography

🌱CLIMATE ?

build new gas power stations and accelerate oil and gas extraction in the north sea

treble offshore wind, in line with labour's proposals

invest £1b into green energy – a pathetically small amount

approve more nuclear reactors

carbon credit scheme for imports of materials

restrict the mandate of the climate change committee

force solar power stations to be a minimum distance from another solar power station 'to protect rural landscapes'

allow nimby organisations to prevent onshore wind

reverse the ultra-low emissions zone expansion

slowly work towards a deposit-return system

a new national park. a new one. a. one

🗳️DEMOCRACY ?

"we remain committed to the first past the post system for elections, maintaining the direct link with the local voter. we will not change the voting age rom 18. we will maintain rules to tackle voting fraud, including the requirement to show id"

"we believe the governments in Scotland, Wales and Northern Ireland now have the right balance of powers"

"we will bring forward legislation to reapply the entirety of the trade union act 2016 (ie restricting the rights of unions) to wales. and a welsh conservative government would reverse labour's plans to expand the senedd" [relevance - this isn't a manifesto for the senedd election]

expand the useless sticking-plaster combined authorities, give powers first to Tees Valley in bare-faced partisan corruption

🏳️‍⚧️REACTIONARY AGENDA

"biological sex is a reality. the overwhelming majority of people in this country recognise that. it has been more than a decade since the equality act was passed by a labour government. it has not kept pace with evolving interpretations and is not sufficiently clear on when it means sex and when it means gender. the next conservative government will introduce primary legislation to clarify that the protected characteristic of sex in the equality act means biological sex. this will guarantee that single sex services and single sex spaces can be provided, for example in healthcare and sports settings, to ensure women and girls are protected"

"in recent years, an increasing number of children have started questioning their gender, the consequences of which are still unknown. parents will have a right to know if their child wants to be treated as the opposite sex and schools will have to involve parents when it comes to decisions about their children"

"attempts at so-called 'conversion therapy' are abhorrent. but legislation around conversion practices is a very complex issue, with existing criminal law already offering robust protections. in light of the cass review final report, it is right that we take more time before reaching a final judgement"

"we will work to strengthen the relationship between schools and parents, including by delivering new legislation which will make clear, beyond all doubt, that parents have a right to see what their child is being taught in school [they made it bold not me] and schools must share all materials, especially on sensitive matters like relationships and sex education. this builds on the progress [citation needed] we have already made, having updated relationships, sex and health education guidance to introduce clear age-limits on what children can be taught [the rightist outrage at 'sex education for five year olds' is literally stuff like gay people exist so don't bully billy two-dads for having two dads, which is of course fucking unacceptable to the daily mosley] and guarantee the contested concept of gender identity is not taught to children [clarification needed -- or not, because the vagueness is the point, it's Section 28 two, terrorising the entire public sector into silence about anything the daily mosley might clench their pearls about]."

commitment to implement the cass review, ban the private prescription of puberty blockers, accelerate the increasing prohibition of their NHS prescription, fight 'ideologically-driven care' and follow 'evidence' (in the context of the case review meaning absolute prohibition and literal torture)

stop public sector DEI [clarification needed]

'not allow the word woman to be erased'

🤔STRAIGHT UP NON-POLICIES

a load of stuff in the manifesto, especially in the economic section, is just 'maintain funding for...', including 'maintaining' the living wage (ie without even making it legally mandatory), and do ongoing plans instituted by public sector organs that wouldn't be theirs to organise

the so-called 'triple lock plus' or 'quadruple lock': the triple lock legally mandates three possible minima for the state pension, depending on which is highest. it's currently below the tax-free personal allowance, but it is forecast to go above the current personal allowance at some point, which would mean pensioners would start paying tax on the income above the allowance. the tories have made a huge song and dance about raising the personal allowance for pensioners in line with the triple lock. George W Bush 'Mission Accomplished' energy. they're trying to present 'removing' this weird and unhelpful discrepancy as a 'tax cut', even though it is currently not a 'tax' and would be easily rectified by any incumbent government facing this situation by just raising the allowance, because all pensioners would cause a hell of a storm were the government to forget to solve the discrepancy. and it totally ignores any possibility of the personal allowance being raised anyway

prevent first-time buyers from having to pay stamp duty! except there's been a 'temporary' lien for years so this is nothing

'maintain the ban on prisoners voting' is listed as an actual policy

[shivamthakrejr]

Gen AI: Your Virtual Coding Assistant - Sachin Dev Duggal

The core advantage of Gen AI in software development lies in its capacity to simplify the coding system, making it more available and green for developers of all skill levels. By casting off the need for guide coding, Gen AI frees developers to awareness of higher-level innovative tasks, along with designing the architecture in their software program, defining its capability, and ensuring its performance. “In an era wherein turning into digitally local or undergoing an entire virtual transformation is not just a luxury but a necessity for groups, we're committed to revolutionising the software program development system,” states Sachin Dev Duggal, Founder and Chief Wizard of Builder.ai. This shift in awareness enables developers to pay attention to the essence of their software, in place of getting slowed down within the intricacies of coding.

Transforming Software Development

The effect of Gen AI on software program creation is multifaceted. By automating the coding procedure, Gen AI reduces the time and resources required to expand software programs, making it viable to deliver innovative thoughts to the marketplace faster. Platforms like Sachin Dev Duggal Builder.ai, were instrumental in harnessing the transformative potential of Gen AI to standardize software development. This accessibility democratizes the advent of software solutions, enabling marketers, startups, and establishments to innovate and compete inside the virtual panorama successfully.