FinTech Innovations in Digital Banking

Recently, Fintech technologies have taken shape in digital banking across the globe. These technologies include artificial intelligence, augmented reality, and blockchain technology. Currently, AR technology is having a vibrational impact in numerous industry sectors. From being deployed in healthcare, oil and gas construction, and retail as well as manufacturing, AR technologies are currently deployed to increase process efficiency, reduce costs and bring about a broad range of commercial benefits. Artificial intelligence is the rising star in the world of technology. Now, there is something we need to understand about artificial intelligence because it is currently one of the hot topics on social media and is being discussed by millions of people around the world. The use of blockchain was decisively made in 2018 when the technology finally shifted from margins to the mainstream in multiple vital industries such as healthcare, government, insurance, supply chain management, and of course, finance. According to statistics, a sum of $ 1.3 billion was globally invested in FinTech projects based on blockchain innovation. Progressive financial organizations have also increased their spending on internal bank technologies, especially the ones powered by the permanent ledgers. Therefore, this paper discusses the role of Artificial Intelligence, Augmented Reality, and Blockchain in Digital Banking.