Blockchain can improve the efficiency of the clearing and settlement system in such sectors as it allows data to be accessed by multiple parties simultaneously, which also ensures the integrity of the records entered in the database. The banking and finance sector will also see a considerable saving in the Know Your Customer (KYC) operations. As most of the firms in this sector use KYC as a profit center, implementing blockchain will make the flow flexible and agile. Payments, trade finance, and syndicated loans are some other areas where blockchain can be highly effective.
API platforms can connect and deliver a better personalized and flexible experience between the bank and its customers. The platform operates in APIs from the banks' back-end execution and front-end experience, making your firm eliminate traditional and monolithic record-keeping systems. In addition, it allows such sectors to adopt new business models by providing gateways to technologies such as blockchain. As the front-end is no more dependent on the back-end, API also helps the banking and finance industries in future-proofing it's systems.
Banking systems includes a massive dataset of customer's transaction including details regarding loans and credits. Equipping yourself with the latest technologies keeps your firm updated with the profiling systems. This not only allows your company to have a better record of your customers but also helps in deciding whom to give banking facilities such as loans and what credit to provide. It issues accurate info about your customer's financial transactions and other banking services. This also helps you to have a better understanding of your potential and current customers with proper CRM.
Amadico has professional experience in e-wallet and mobile banking services. Since fintech is on the rise, more and more companies are opting for services through a digital forum. E-Wallet has made accessibility with your bank easier as you rely on an app for purchasing purposes which saves time and helps to reduce fraud. Banking apps provide all the bank facilities through the app, such as deposit and credit services, wealth management, investment banking, and remittances. Important news and information regarding the bank are also passed on through this channel.
Besides using banking apps as the messenger tool with chatbots to clear your inquiries, email and SMS are also other tools for marketing campaigns. Amadio's services with bulk email and SMS can give important information regarding products and offers to your customers and potential customers. Such forms of campaigning ensure ways to boost ROI, customer satisfaction, time management, customer engagement, and improved product quality. Since most people have hand-held devices, implying such forms of campaigning will have a broad reach.
Upgrading your KYC into a more innovative and advanced version is always a plus point for your company. It is a significant element in the fight against money laundering, financial crime, and customer identification. It works in securing your financial and bank details by establishing a customer identity and tracking the nature of their activities. Such data can be used to provide facilities to your customers and in the planning process of the business model. With the means of such smart KYC or E-KYC, data is easier to access and transfer.
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