A PROJECT REPORT ON

“A STUDY ON LATEST TECH TRENDS IN FINANCIAL SECTOR”

PROJECT SUBMITTED IN PARTIAL FULFILLMENT
FOR THE AWARD OF THE DEGREE
OF
BACHELOR OF BUSINESS ADMINISTRATION
By
KARUPAKULA VARUN KUMAR
HALL TICKET NO: 1009-22-145-019

UNDER THE GUIDENCE OF

DR.B.THIRUPATHI

HEAD

DEPARTMENT OF BUSINESS MANAGEMENT

NIZAM COLLEGE (AUTONOMOUS)
Re-Accredited by NAAC with “A”
A Constituent College of Osmania University
OSMANIA UNIVERSITY, HYDERABAD.

A University with potential for excellence and Re-Accredited by

NAAC with “A grade”

1
 TELANGANA – 500001
2022 – 2025

DECLARATION

I here by declare that this Project Work entitled “A STUDY ON LATEST TECH TRENDS
IN FINANCIAL SECTOR” submitted by me to the Department of Business Management,
NIZAM COLLEGE (AUTONOMOUS), Osmania University, Hyderabad, is a Bonafide
work undertaken by me and it is not submitted to any other University or Institution for the
award of any degree/diploma certificate or published any time before.

Signature of the student

2
DATE: K.VARUN KUMAR

3
 Re-accredited by NAAC with “A

CERTIFICATION

This is to certify that the Project Report entitled “A STUDY ON LATEST

TECH TRENDS IN FINANCIAL SECTOR” Hyderabad is a Bonafide work done

by our student KARUPAKULA VARUN KUMAR bearing Hall Ticket No: 1009-

22-145-009 towards the partial fulfilment for the award of the Degree of Bachelor of

Business Administration (BBA) at Nizam College (Autonomous),Osmania University

under guidance of DR.B.THIRUPATHI for the academic year 2022-2025.

INTERNAL GUIDE HEAD OF THE DEPARTMENT PRINCIPAL

4
 ACKNOWLEDGEMENT

I am thankful to Rolls Royce Motor Cars Limited for giving me the opportunity to do project
entitled “A STUDY ON LATEST TECH TRENDS IN FINANCIAL SECTOR” under
whose guidance this project resulted as success.
I express my gratitude to PROF.A.V.RAJASHEKAR Principal, Nizam College
(Autonomous).
I thank DR.S.RENUKA Vice-Principal, Nizam College (Autonomous).
I am very much thankful to DR.B.THIRUPATHI Head, Department of Business
Management, Nizam College (Autonomous).
I am Thankful to my esteemed guide DR.B.THIRUPATHI, Department of Business
Management. I thank DR.B.THIRUPATHI for the freedom he had given me in selecting
my
area of study and for correcting various documents of mine with attention and care.
I express my gratitude towards DR.B.MADHAVI, Ms.A.LAKSHMI,
Ms.A.SWATHI,
Ms.N.PRAVALIKA, Ms.A.ASWINI, Ms.HEENA KAUSAR,
Ms.E.R.GAYATRI,
DR.K.SIRISHA, DR.D.SRIDEVI, Mr.NIVAS of Department of Business
Management,
Nizam College (Autonomous) for their support and encouragement.
Finally, I wish to express my gratitude and thanks to all those who have directly or indirectly
helped in collection of required information for preparing the project report.

5
DATE:
Signature of the Student
K.VARUN KUMAR

6
 ABSTRACT

Technological innovation and digitalization have posed a financial sector globally. It’s been a
tumultuous year for the financial sector. Many of them have seen traditional models of
working and business disrupted by the ongoing covid-19 pandemic, the fast-changing
technology landscape, and a new breed of agile, tech-driven start-ups.

The latest technological trends in financial sector are Mobile Banking, Agile and Adaptive
Banking, Open Banking and Embedded Finance, Artificial Intelligence and Machine learning,
BNPL – Buy Now Pay Later, Distributed Ledger Technology, Regulatory technology,
Financial super apps, Meta-verse in finance, Blockchain, Hyper automated banking with
Robotic Process Automation (RPA), Digital payments, enhanced security and fraud
mitigation, Chatbots and AI.

The latest tech trends in the financial sector have made the work easy for the employees. It
was verified that there is a growing and dynamic interest in scientific activity on financial
technologies at an international level. The findings obtained are a complement to the
knowledge of financial technologies and allow the relationship between science and
technology to be established, and to inform the decision-making process.

Blockchain, AI or machine learning and numerous more financial technologies that will help
them in long -term are the technologies that are improving financial businesses.

KEYWORDS: Mobile banking, Agile and Adaptive Banking, Open Banking and Embedded
Finance, Artificial Intelligence and Machine learning, BNPL – Buy Now Pay Later,
Distributed Ledger Technology, Regulatory technology, Financial super apps, Meta-verse in
finance, Blockchain, Hyper automated banking with Robotic Process Automation (RPA).

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 TABLE OF CONTENTS

CHAPTER NO. PARTICULARS PAGE

NO.
1.1. INTRODUCTION
1.2. NEED FOR THE STUDY
CHAPTER-I 10-14
1.3. SCOPE OF THE STUDY
1.4. OBJECTIVES OF THE STUDY
1.5. LIMITATIONS OF THE STUDY

REVIEW OF LITERATURE
CHAPTER-II
15-27
STUDY METHODOLOGY
CHAPTER-III
28-30

CHAPTER-IV INDUSTRY AND COMPANY PROFILE

31-49

DATA ANALYSIS AND INTERPRETATION

CHAPTER-V 50-70

FINDINGS, SUGGESTIONS
CHAPTER-VI AND CONCLUSION 71-74

ANNEXURE
- BIBLIOGRAPHY 75-80
- QUESTIONNAIRE

8
 LIST OF TABLES
SL.NO DESCRIPTION PAGE NO:

5.1.2 Graph showing percentage of age of respondents. 51

5.1.3 Graph showing percentage of gender. 52

5.1.4 Graph showing percentage of Education Background 53

5.1.5 Graph showing percentage of Occupation 54

5.1.6 Graph showing percentage of familiars using Technology 55

5.1.7 Graph showing percentage of usage of technology 56

Graph showing percentage of current usage of financial apps 57

5.1.8

5.1.9 Graph showing percentage of financial apps do currently using 58

5.1.10 Graph showing percentage of recent technological advancements in financial sector 59

5.1.11 Graph showing percentage of familiarity with blockchain and cryptocurrency 60

5.1.12 Graph showing percentage about AI-driven financial services 61

5.1.13 Graph showing percentage of concerned about financial data using mobile banking 63

5.1.14 Graph showing percentage measures do protect your financial information from cyber 64
threats

5.1.15 Graph showing percentage of experience choosing financial services 66

5.1.16 Graph showing percentage of age of significant impact 66

on the financial sector in future

5.1.17 Graph showing percentage of age of frequently do you use digital financial services 67

5.1.18 Graph showing percentage of device do you mostly use to access financial services 68

5.1.19 Graph showing percentage of rate your satisfaction with digital financial services 69

5.1.20 Graph showing percentage of feel secure while making online 70

9
 LIST OF GRAPHS

PAG

SL.NO DESCRIPTION E
NO:

5.2.2 Graph showing percentage of age of respondents. 51

5.2.3 Graph showing percentage of gender. 52

5.2.4 Graph showing percentage of Education Background 53

5.2.5 Graph showing percentage of Occupation 54

5.2.6 Graph showing percentage of familiars using Technology 55

5.2.7 Graph showing percentage of usage of technology 56

5.2.8 Graph showing percentage of current usage of financial apps 57

5.2.9 Graph showing percentage of financial apps do currently using 58

Graph showing percentage of recent technological advancements in financial

5.2.10 59
sector

Graph showing percentage of familiarity with blockchain and

5.2.11 60
cryptocurrency

Graph showing percentage about AI-driven financial services

5.2.12 61

Graph showing percentage of concerned about financial data using mobile

5.2.13 63
banking

Graph showing percentage measures do protect your financial information

5.2.14 from cyber threats 64

5.2.15 Graph showing percentage of experience choosing financial services 66

Graph showing percentage of age of significant impact

5.2.16 on the financial sector in future 66

Graph showing percentage of age of frequently do you use digital financial

5.2.17 67
services

5.2.18 Graph showing percentage of device do you mostly use to access financial 68

10
 services

Graph showing percentage of rate your satisfaction with digital financial

5.2.19 69
services

5.2.20 Graph showing percentage of feel secure while making online 70

11
 CHAPTER-I

INTRODUCTION

12
 INTRODUCTION

In the ever-evolving landscape of the financial sector, technological advancements play a

pivotal role in shaping its trajectory. The convergence of finance and technology, commonly
known as "Fintech," has revolutionized traditional banking, investment, and insurance
practices. As we embark on a journey to dissect the latest trends in this dynamic realm, it
becomes evident that staying abreast of emerging technologies is not merely an option but a
necessity for institutions seeking sustainable growth and competitiveness.

In the ever-evolving landscape of the financial sector, technological advancements play a

pivotal role in shaping its trajectory. The convergence of finance and technology, commonly
known as "Fintech," has revolutionized traditional banking, investment, and insurance
practices. As we embark on a journey to dissect the latest trends in this dynamic realm, it
becomes evident that staying abreast of emerging technologies is not merely an option but a
necessity for institutions seeking sustainable growth and competitiveness.

The proliferation of digitalization has spurred a seismic shift in consumer behavior,

prompting financial institutions to recalibrate their strategies to meet evolving demands.
Mobile banking, contactless payments, and Robo-advisors are just a few examples of how
technology has redefined the customer experience. Furthermore, the advent of decentralized
finance (Dei) and cryptocurrency has introduced novel avenues for investment and capital
allocation, disrupting traditional paradigms of asset management and wealth preservation.

However, alongside the promise of innovation comes the imperative of addressing associated
risks and ethical considerations. Cybersecurity threats, data privacy concerns, and algorithmic
biases pose formidable challenges that necessitate a proactive approach to risk management
and regulatory compliance. As technological advancements outpace regulatory frameworks,
policymakers face the formidable task of striking a delicate balance between fostering
innovation and safeguarding consumer interests.

Moreover, the democratization of finance facilitated by technology has the potential to foster
financial inclusion and economic empowerment on a global scale. By leveraging digital
platforms and innovative financial products, underserved communities can gain access to
essential banking services, credit facilities, and investment opportunities previously beyond
their reach. Yet, achieving inclusive growth requires concerted efforts to bridge the digital
divide and mitigate disparities in access to technology and financial literacy.

13
In light of these multifaceted dynamics, this study endeavors to unravel the intricate interplay
between technology, finance, and society. By examining the latest trends and their
implications, we aim to equip industry stakeholders, policymakers, and researchers with the
insights needed to navigate the complexities of the digital age. As we embark on this journey
of exploration and discovery, we invite readers to join us in Unravelling the future of finance
in an era defined by technological innovation and transformation.

1.1 NEED FOR AND IMPORTANCE OF LATEST TECH TRENDS IN FINANCIAL

SECTOR:
Competitive Advantage.

Efficiency and Cost Reduction.

Enhanced Customer Experience.

Risk Management and Compliance.

Access to New Markets and Customers.

Innovation and Differentiation.

Adaptation to Changing Consumer Preferences.

1.2 OBJECTIVES OF LATEST TECH TRENDS IN FINANCIAL

SECTOR:

A. Understanding Industry Transformation.

B. Identifying Opportunities.

C. Assessing Risks and Challenges.

D. Enhancing Customer Experience.

E. Informing Strategic Decision-Making.

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1.3 SCOPE OF THE STUDY:

a. Analysis of the latest technological innovations and advancements relevant to the

financial sector, including blockchain, artificial intelligence, machine learning, big
data analytics, cloud computing, cybersecurity, digital payments, and Internet of
Things (IoT).
b. Examination of how emerging technologies are transforming various segments of the
financial services industry, such as banking, insurance, investment management,
payment processing, wealth management, and regulatory compliance.
c. Exploration of real-world applications and use cases of emerging technologies in
finance, including digital banking platforms, algorithmic trading systems, Robo-
advisors, insurance telematics, smart contracts, regulatory reporting automation, and
fraud detection systems.
d. Evaluation of risks and challenges associated with the adoption of emerging
technologies in finance, including cybersecurity threats, data privacy concerns,
regulatory compliance issues, operational risks, systemic risks, and ethical
considerations.
e. Assessment of the impact of emerging technologies on traditional financial
institutions, including banks, credit unions, insurance companies, asset managers, and
regulatory agencies, in terms of business models, operational processes, customer
engagement, revenue streams, and competitive positioning.

15
E.2LIMITATIONS OF THE STUDY:
Limited Longitudinal Data:
Longitudinal data tracking the adoption and impact of emerging technologies in finance over
time may be limited, particularly for nascent technologies. This makes it challenging to assess
long-term trends, patterns, and implications accurately.

Ethical and Privacy Concerns:

The use of emerging technologies in finance raises ethical and privacy concerns related to
data security, surveillance, algorithmic bias, and consumer protection. Researchers must
navigate these ethical considerations carefully to ensure that their studies uphold ethical
standards and safeguard participants' rights.

Impact of External Factors:

Tech trends in finance are influenced by various external factors, including macroeconomic
conditions, geopolitical events, regulatory changes, and industry disruptions. Researchers may
struggle to isolate the effects of emerging technologies from broader systemic or
environmental influences.

Rapid Pace of Innovation:

The financial technology landscape evolves rapidly, with new technologies, products, and
services constantly emerging. This makes it challenging for researchers to keep pace with the
latest developments and may result in outdated information if the study is not conducted
frequently.

Data Availability and Quality:

Accessing reliable and up-to-date data on emerging technologies in the financial sector can be
challenging. Data may be proprietary, fragmented, or subject to confidentiality agreements,
limiting researchers' ability to conduct comprehensive analyses.

16
 CHAPTER-II
REVIEW OF LITERATURE

17
LITERATURE REVIEW

1. Blockchain Technology in Finance

Nakamoto (2008) introduced blockchain as the backbone of

cryptocurrencies. Later studies such as by Tapscott & Tapscott
(2016) emphasized its potential in increasing transparency,
security, and efficiency in financial operations. Banks are
adopting private blockchains to ensure secure, real-time
settlement.

2. Artificial Intelligence in Credit Risk Analysis

According to a study by Brynjolfsson & McAfee (2017), AI enhances

creditworthiness assessment by analyzing non-traditional data such as
transaction patterns and online behavior. This reduces bias and increases
access to credit for underserved segments.

3. Chatbots for Customer Service

Accenture (2019) reported that over 70% of financial institutions have

implemented AI chatbots to handle customer queries. These bots are
reducing call center load and improving response times, increasing
customer satisfaction.

4. FinTech Disruption and Innovation

Arner, Barberis & Buckley (2015) discuss how FinTech companies are
redefining traditional financial services through agile innovation, customer-
centric platforms, and lower operational costs

5. Robo-Advisory Platform

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Fein (2015) described how robo-advisors use algorithms to manage
portfolios with minimal human intervention, democratizing wealth
management services, especially for younger investors.

6. Big Data Analytics in Banking

Davenport & Harris (2007) highlighted how big data transforms decision-
making by identifying customer preferences and reducing risks through
predictive models in loan approvals and fraud detection.

7. Cybersecurity Trends in Digital Finance

The World Economic Forum (2021) warned about the rise in cyber threats
and called for AI-based intrusion detection systems, secure cloud
infrastructure, and continuous employee training.

8. Neobanks and Digital-Only Banks

Research from Deloitte (2020) emphasized how neobanks, operating

without physical branches, offer streamlined digital services and attract
tech-savvy users through low fees and seamless user interfaces

9. 5G and Mobile Banking Evolution

According to Ericsson (2021), 5G is enabling real-time, high-speed

transactions, facilitating the spread of financial services to rural and
remote areas through enhanced mobile apps.

10. Biometric Authentication in Finance

A study by Juniper Research (2022) forecasts that biometric technologies

like facial recognition and fingerprint scans will dominate digital banking
security systems due to their accuracy and user convenience

19
11. Digital Wallet Adoption

KPMG (2021) reports a 300% increase in digital wallet usage post-COVID,

driven by safety concerns and convenience. Platforms like Google Pay and
Apple Pay are becoming mainstream.

12. Cloud Computing in Financial Operations

IBM (2019) outlines that banks are shifting to cloud to reduce

infrastructure costs and increase scalability. Cloud-native solutions also
support fast deployment of new applications.

13. InsurTech Developments

GlobalData (2021) finds that InsurTech companies are automating claims

processes and using AI to assess risk, significantly reducing the time
required for underwriting and policy issuance.

14. RegTech for Compliance

Zetzsche et al. (2017) explain how RegTech tools use machine learning to
automate compliance monitoring and reduce the costs of adhering to
global regulatory frameworks.

15. Decentralized Finance (DeFi)

Schär (2021) discusses how DeFi applications, built on blockchain, are

disrupting traditional finance by offering lending, trading, and investing
without intermediaries.

16. Digital KYC and AML

Studies by Thomson Reuters (2020) stress how digital KYC (Know Your
Customer) platforms are speeding up onboarding while ensuring
compliance with Anti-Money Laundering (AML) regulations.

20
17. Quantum Computing in Finance

Although still in early stages, IBM (2022) suggests that quantum

computing could revolutionize financial modeling, encryption, and risk
analysis by processing data faster than traditional systems.

18. NFC Payments and Contactless Cards

Visa (2020) observed that contactless payments surged during the

pandemic, and NFC (Near Field Communication) technology has become a
preferred mode of transaction in retail banking.

19. Algorithmic Trading and Market Efficiency

Hasbrouck & Saar (2013) explain how high-frequency trading algorithms

can execute thousands of transactions per second, improving liquidity and
price discovery in stock markets.

20. IoT Applications in Insurance and Finance

Accenture (2018) shows that the Internet of Things (IoT) enables usage-
based insurance, where premiums are based on real-time behavior data
from wearable devices or vehicle sensors.

21. Use of Smart Contracts in Banking

Christidis and Devetsikiotis (2016) explored how smart contracts — self-

executing contracts on blockchain — automate complex financial
agreements, reducing the need for intermediaries and enhancing trust.

22. Digital Lending Platforms

According to a report by McKinsey (2021), digital lending platforms are

reducing turnaround times from weeks to minutes by automating credit
scoring, document verification, and disbursement processes.

21
23. Open Banking Ecosystems

A study by PwC (2022) revealed how Open Banking is encouraging

competition by allowing third-party developers to access financial data,
thus enabling personalized and innovative services.

24. Embedded Finance in E-commerce

According to Accenture (2023), embedded finance integrates financial

services directly into e-commerce platforms, allowing users to access
loans, insurance, and payments without leaving the platform.

25. Use of Digital Twins in Financial Simulation

Gartner (2022) identified digital twins — virtual representations of real-

world systems — as emerging tools in risk modeling, enabling better
scenario testing and investment planning.

26. Voice Banking and Smart Assistants

Capgemini’s World FinTech Report (2021) showed rising popularity of

voice-activated banking through Alexa and Siri, allowing customers to
check balances, pay bills, and execute commands with voice inputs.

27. AI-Powered Financial Advisory Services

Research by Deloitte (2020) suggests AI is increasingly used for wealth

management services, where robo-advisors provide portfolio
recommendations using risk profiling and market analysis.

28. Gamification in Financial Literacy

Educational tech platforms are integrating gamification in finance apps to

promote financial literacy among youth. Studies show improved user
engagement and learning retention.
22
29. Cross-border Payments Using Ripple and Stellar

Research by the World Bank (2022) reported how blockchain-based

platforms like Ripple and Stellar are drastically reducing transaction fees
and settlement times for cross-border remittances.

30. Use of APIs in Banking

Banks are increasingly offering API (Application Programming Interface)

access to external developers to build apps, according to a report by the
European Banking Authority (2021).

31. Tokenization of Assets

Harvard Business Review (2021) highlights tokenization — converting real-

world assets like real estate into digital tokens — as a growing trend that
increases liquidity and fractional ownership.

32. AI for Financial Fraud Detection

The Journal of Financial Crime (2020) discusses how supervised and

unsupervised machine learning techniques are used to detect unusual
transactional behavior, reducing fraudulent activities.

33. FinTech Lending vs Traditional Lending

Chen et al. (2020) show that FinTech lending platforms offer lower interest
rates and quicker approvals than traditional banks, particularly benefiting
small and medium-sized enterprises (SMEs).

34. Digital Onboarding with OCR and AI

The integration of Optical Character Recognition (OCR) with AI in

onboarding processes speeds up document verification, as highlighted by
EY’s Tech Trends Report (2021).
23
35. Predictive Analytics for Investment Decisions

Research from CFA Institute (2022) shows predictive analytics helps fund
managers make informed decisions by forecasting trends using historical
and real-time data.

36. Cyber Risk Management Tools

A 2023 study from ISACA highlights how real-time cyber risk analytics tools
are used by financial institutions to quantify, monitor, and mitigate
evolving cyber threats.

37. AI-Powered Insurance Claim Processing

Bain & Company (2021) found that InsurTech firms are deploying AI to
automate claim processing, which speeds up approvals and reduces
manual errors.

38. Digital Signature Authentication in Finance

The use of e-signatures (enabled by Aadhaar in India) is now widespread in

loan agreements and KYC processes, cutting down paperwork and
enabling instant approvals (NITI Aayog, 2022).

39. Use of AR/VR in Financial Services

Futurum Research (2022) discusses the potential of augmented and virtual

reality to create immersive environments for financial training,
simulations, and virtual advisory meetings.

40. FinTech in Developing Countries

A World Bank (2022) report observed that mobile-first FinTech apps in

Africa and Southeast Asia have increased access to banking services,
empowering previously unbanked populations.
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41. Impact of COVID-19 on FinTech Growth

Studies from IMF (2021) show the pandemic accelerated digital

transformation in finance, as demand for contactless payments, online
banking, and digital lending surged.

42. Hyperautomation in Banking

Gartner (2022) describes hyperautomation — the integration of RPA, AI,

and ML — as essential for streamlining repetitive tasks like data entry,
compliance checks, and reporting.

43. Digital Asset Custody Services

With growing interest in crypto investments, financial institutions are

building digital asset custody services to ensure the safekeeping of private
keys and compliance with regulations (FATF, 2022).

44. Crowdfunding and Peer-to-Peer Lending Platforms

Studies by Harvard Kennedy School (2021) show how online platforms are
enabling direct lending from individuals to businesses, reducing
dependence on institutional financing.

45. AI in Insurance Risk Assessment

Insurance companies use AI to evaluate customer risk profiles through

driving behavior, wearable health data, and social media activity (Allianz
Global, 2022).

46. Use of CRM with Predictive AI

Salesforce (2021) integrated AI into CRM platforms, allowing financial

companies to anticipate client needs, personalize offerings, and enhance
relationship management.
25
47. Digital Financial Literacy Platforms

UNESCO and Mastercard Foundation (2022) emphasize the development of

digital platforms and mobile apps to improve public understanding of
digital banking, credit, and saving.

48. FinTech and ESG Integration

ESG-focused FinTechs are providing platforms for sustainable investments

and impact measurement. Studies reveal millennials prefer companies
that align financial returns with social responsibility.

49. AI-based Voice Risk Analysis for Loan Approval

Startups like LenddoEFL are using voice analysis during calls to assess
emotional tone and credibility, reducing default risks in micro-lending (MIT
Review, 2021).

50. Smart POS Terminals in Retail Banking

Reports from Statista (2023) show modern POS terminals integrate with AI
to track purchase patterns, offer personalized discounts, and integrate
with inventory and sales data.

26
 1.1THEORETICAL FRAMEWORK

1. ARTIFICIAL INTELLIGENCE IN FINANCIAL SECTOR:

Financial firms are using AI to reduce costs and streamline a wide variety of functions, over
three main areas: the front office (conversational banking), the middle office (fraud
detection and risk management) and the back office (underwriting). Today, artificial
intelligence (AI) is a highly valued tool for businesses due to its ability to improve
efficiency and productivity. The financial sector, in particular, has begun to adopt AI
solutions to transform its processes and services, resulting in a better customer experience
and greater efficiency in operations. The implementation of AI in the financial sector is a
strong and growing trend. According to an open text survey of financial services
professionals, 80% of banks are well aware of the benefits of AI and machine learning.
Today, AI is not just an option but a necessity in business. Its applications range from
operational automation to strategic decision-making and customer engagement. The trend is
towards more sophisticated AI capabilities like natural language processing, predictive
analytics, and autonomous systems. Artificial Intelligence in finance refers to the application
of a set of technologies, particularly machine learning and algorithms, in the finance
industry. This Fintech enables financial services organizations to improve the efficiency,
accuracy and speed of such tasks as data analytics, forecasting, investment management,
risk management, fraud detection, customer service and more. AI is modernizing the
financial industry by automating traditionally manual banking processes, enabling a better
understanding of financial markets and creating ways to engage customers that mimic
human intelligence and interaction. AI is revolutionizing how financial institutions operate
and fueling start-ups. AI models execute trades with unprecedented speed and precision,
taking advantage of real-time market data to unlock deeper insights and dictate where
investments are made. By analyzing intricate patterns in transaction data sets, AI solutions
allow financial organizations to improve risk management, which includes security, fraud,
anti-money laundering (AML), know your customer (KYC) and compliance initiatives. AI
is also changing the way financial organizations engage with customers, predicting their
behavior and understanding their purchase preferences.

HOW IS AI USED IN THE FINANCIAL SECTOR?

27
a. Algorithmic trading: AI can be used to develop trading algorithms that can analyze
market trends and historical data to make decisions and execute trades faster than humans.
b. Automation and efficiency: AI can automate repetitive and time-consuming tasks,
allowing financial institutions to process large amounts of data faster and more accurately.
c. Competitive advantage: AI can help financial institutions foster innovation and stay at
the forefront of technology, which can give them a competitive edge.
d. Compliance: AI can automate monitoring and reporting requirements to ensure
regulatory compliance
e. Credit scoring: AI can analyze a variety of data, including social media activity and
other online behavior, to assess customers’ creditworthiness and make more accurate credit
decisions.
f. Cost reduction: By automating tasks, financial institutions can reduce manual labor,
streamline workflows and improve operational efficiency, which can reduce costs

WHO ARE THE KEY STAKEHOLDERS OF AI IN THE FINANCIAL SECTOR?

1. Auditors and internal control teams: Responsible for assessing the effectiveness of AI
systems, these individuals and groups conduct audits to identify potential issues and risks
and ensure efficiency, accuracy and compliance.
2. Chief information officers (CIOs) and chief technology officers (CTOs): As overseers
of the organization’s technical infrastructure, CIOs and CTOs make key decisions regarding
AI implementation, usage and security.
3. Customers: A positive user experience with AI-driven apps is necessary for customers
and end users to have confidence and trust in the financial organization.
4. Developers: AI developers are responsible for designing and implementing AI systems
into the organization and ensuring their accuracy and effectiveness.
5. Risk management teams: As AI is often used for assessing and mitigating risk in
financial organizations, these teams monitor the effectiveness of the AI systems.

28
 CHAPTER-III

STUDY METHODOLOGY

29
 a. RESEARCH METHODOLOGY

For the study purpose, both primary and secondary data has been collected. The observational
method, online data collection and focus groups. Through this methodology one can analyze
the current technology landscape in the financial sector, focusing on emerging technologies
like blockchain, artificial intelligence, cloud computing, big data analytics, and digital
payments.

The main research instrument used for the collection of data is online data collection. The
necessary data has also been collected from various sources such as newspapers, social media
websites, various online websites and other published sources. The data collected is
classified, analyzed and interpreted.

DATA MANAGEMENT

There are two types of data collection. They are:

1. Primary Data.
2. Secondary Data.

Primary Data:

Primary data collection refers to the process of gathering original data directly from the
source for a specific research or study. This data is collected first hand by the researcher or
research team and is tailored to address the specific objectives and questions of the study.
Primary data collection methods typically involve interactions with individuals,
organizations, or environments to collect new and unique information that has not been
previously documented or analyzed.

primary data collection offers researchers greater control over the data collection process,
allowing them to design research instruments, tailor questions, and select sampling techniques
that best suit their research objectives.

However, primary data collection can be time-consuming, resource-intensive, and subject to

various biases and limitations, requiring careful planning, execution, and analysis to ensure
the validity and reliability of the findings

30
SECONDARY DATA:

Secondary data collection refers to the process of gathering pre-existing data that has been
collected and published by other sources for purposes other than the current research. This
data is not collected directly by the researcher but is instead obtained from various external
sources such as research reports, academic publications, government databases, industry
surveys, and organizational records.

Secondary data can encompass a wide range of information, including statistical data,
survey results, historical records, case studies, literature reviews, and archival documents.
Researchers may utilize secondary data to support their research objectives, provide
context, validate findings, or supplement primary data collection efforts.

Secondary data collection serves as a valuable resource for researchers, providing a rich
source of information that can complement and enrich primary research efforts, enhance
understanding of research topics, and facilitate evidence-based decision-making.

Sample Size:

For ascertaining the information, survey was conducted. In that survey 113 respondents
gave their responses.

Statistical tools:

Pie-charts and graphs are used to illustrate the numerical proportion.

Period of the study:

Period of 45 days

31
 CHAPTER-IV
INDUSTRY AND
COMPANY
PROFILE

32
 INDUSTRY PROFILE

An industry profile on the latest tech trends in the financial sector would encompass several
key areas of innovation and transformation. They are:

Artificial Intelligence (AI) and Machine Learning (ML):

• AI and ML are revolutionizing the financial sector by enabling predictive analytics, fraud
detection, credit scoring, and algorithmic trading.
• Natural Language Processing (NLP) is being used for sentiment analysis of news and social
media to predict market movements.

Blockchain and Cryptocurrencies:

• Blockchain technology is transforming traditional financial processes like payments,

settlements, and trade finance by providing transparency, security, and efficiency.
• Cryptocurrencies are gaining acceptance as legitimate assets and payment methods, with
institutions investing in Bitcoin and other digital currencies.

Digital Banking and Mobile Payments:

• The shift towards digital banking is accelerating, with customers demanding seamless and
convenient online and mobile banking experiences.
• Mobile payment solutions, including digital wallets and contactless payments, are gaining
popularity, especially considering the COVID-19 pandemic and the preference for touchless
transactions.

Cybersecurity and Risk Management:

• With the rise of digital transactions and online banking, cybersecurity is a top priority for
financial firms to protect sensitive customer data and prevent cyber-attacks.
• Advanced technologies such as biometrics, encryption, and behavioral analytics are being
deployed to enhance security measures. This industry profile highlights the dynamic
landscape
33
of technological innovation in the financial sector, where emerging trends are reshaping
business models, enhancing customer experiences, and driving efficiency gains.

COMPANY PROFILE

Google AI, also known as Google Artificial Intelligence or Google AI Research, is the
division of Google dedicated to advancing the field of artificial intelligence through research,
development, and application of cutting-edge AI technologies.

• Google AI conducts fundamental research in various subfields of artificial intelligence,

including machine learning, natural language processing, computer vision, robotics, and
reinforcement learning.
• Researchers at Google AI publish their findings in top-tier academic conferences and
journals, contributing to the advancement of AI knowledge and technologies globally.
• Google AI conducts fundamental research in various subfields of artificial intelligence,
including machine learning, natural language processing, computer vision, robotics, and
reinforcement learning.
• Researchers at Google AI publish their findings in top-tier academic conferences and
journals, contributing to the advancement of AI knowledge and technologies globally.

34
• Google AI powers a wide range of applications across different domains, including
healthcare, finance, education, agriculture, and more.
• In healthcare, Google AI collaborates with healthcare professionals and researchers to
develop AI-driven solutions for disease diagnosis, medical imaging analysis, drug discovery,
and personalized healthcare.

• Google AI is committed to developing AI technologies in an ethical and responsible

manner, prioritizing fairness, transparency, privacy, and accountability.

• The company actively engages with academia, industry partners, policymakers, and civil
society to address ethical challenges and promote the responsible use of AI for societal
benefit.

• Google AI collaborates with leading academic institutions, research organizations, and

industry partners worldwide to advance AI research and foster innovation.
• Through initiatives like Google AI for Social Good, the company applies AI technologies to
address global challenges, including environmental sustainability, economic empowerment,
healthcare access, and education.

VISION:
• Empowering People with AI
• Enabling Accessible and Inclusive AI
• Advancing the Frontiers of AI Research
• Addressing Global Challenges with AI
• Fostering Collaboration and Knowledge Sharing

MISSION:

Google AI's mission is to harness the transformative potential of artificial intelligence to

drive innovation, solve complex problems, and create positive change in society, while
upholding principles of ethics, responsibility, accessibility, and collaboration. Through its
research,

35
development, and deployment efforts, Google AI continues to work towards fulfilling its
mission and making AI work for everyone.

ACHIEVEMENTS:
Google AI and its researchers have received numerous awards and recognitions for their
contributions to the field of artificial intelligence. Here are some noGraph awards:

1. Fields Medal: In 2018, the Fields Medal was awarded to Peter Schulz, a mathematician
whose work on arithmetic algebraic geometry has applications in machine learning
algorithms developed by Google AI.
2. Neur IPS Test of Time Award: Google AI researchers have received the Neur IPS Test of
Time Award for influential papers, including those on deep learning, reinforcement learning,
and neural network architectures.
3. ICML Test of Time Award: Google AI researchers have been recognized with the ICML
Test of Time Award for seminal papers in areas such as probabilistic modeling, kernel
methods, and optimization algorithms.

SWOT ANALYSIS OF GOOGLE AI

STRENGTHS:
• Technical Expertise: Google AI benefits from the vast technical expertise of its researchers
and engineers, many of whom are world-renowned experts in artificial intelligence, machine
learning, and related fields.
• Rich Data Resources: Google AI has access to extensive datasets collected from various
Google products and services, enabling it to train and develop advanced AI models with high
accuracy and performance.
• State-of-the-Art Infrastructure: Google AI leverages Google's infrastructure, including
powerful computing resources and cloud services, to support its research and development
efforts, enabling rapid prototyping and experimentation.

36
• Integration with Google Products: Google AI's integration with Google's ecosystem of
products and services, such as Google Search, Google Photos, and Google Assistant, allows it
to deploy AI-powered features and functionalities at scale to millions of users worldwide.

WEAKNESS:

• Data Privacy Concerns: Google AI faces scrutiny and concerns regarding data privacy and
user consent, especially concerning the collection and use of personal data for training AI
models and improving algorithms.

• Talent Competition: The competition for top AI talent is intense, with tech companies,
research institutions, and startups vying for skilled researchers, engineers, and data scientists.
Google AI must continuously attract and retain top talent to maintain its competitive edge.

• Dependency on Google's Ecosystem: Google AI's reliance on Google's ecosystem for data,
infrastructure, and resources may limit its ability to collaborate with external partners and
access diverse datasets and computing environments

OPPURTUNITIES:

• Expansion into New Industries: Google AI has opportunities to expand its reach beyond
its core products and services into industries such as healthcare, finance, manufacturing, and
transportation, where AI technologies can drive innovation and create value.
• AI-Powered Healthcare Solutions: There is growing demand for AI-powered healthcare
solutions for medical imaging analysis, disease diagnosis, drug discovery, and personalized
medicine, presenting opportunities for Google AI to collaborate with healthcare providers and
researchers.
• AI for Social Good: Google AI can leverage AI technologies to address societal challenges
such as climate change, poverty, education, and inequality through initiatives like Google AI
for Social Good, contributing to positive social impact and sustainable development.

37
THREATS:

• Regulatory Scrutiny: Increasing regulatory scrutiny and government oversight of AI

technologies, particularly concerning data privacy, algorithmic bias, and ethical
considerations, pose regulatory risks and compliance challenges for Google AI.

• Competition: Google AI faces competition from other tech giants, such as Amazon,
Microsoft, and Facebook, as well as from startups and research institutions, in the race to
develop and deploy innovative AI solutions across various industries and applications.

• Ethical Concerns: Ethical concerns surrounding AI, including issues related to bias,
fairness, accountability, transparency, and unintended consequences, can undermine trust in
AI technologies and raise public skepticism and resistance to adoption.

38
IBM Blockchain provides a robust and scalable platform for building, deploying, and
managing blockchain networks and applications. The platform offers enterprise-grade
features, including high throughput, low latency, security, privacy, and interoperability, to
meet the diverse needs of businesses across industries.

IBM actively contributes to open-source blockchain projects, including Hyper ledger Fabric,
an open-source distributed ledger technology (DLT) framework hosted by the Linux
Foundation. IBM's contributions to Hyper ledger Fabric and other open-source blockchain
projects help drive industry standards, interoperability, and adoption of blockchain
technology.

VISION:

IBM Blockchain's vision in the financial sector is centered around leveraging blockchain
technology to drive innovation, efficiency, and trust across the financial ecosystem,
ultimately transforming how value is transferred, managed, and accessed in the digital
economy.

MISSION:

IBM Blockchain's mission in the financial sector is to leverage blockchain technology to

transform how financial transactions are conducted, managed, and accessed, ultimately
driving innovation, efficiency, and inclusion across the financial ecosystem.
39
ACHIEVEMENTS:

• IBM's Trade Lens platform, built in collaboration with Maersk, is one such example,
providing a blockchain-based platform for digitizing and streamlining global trade processes,
reducing paperwork, delays, and cost.
• IBM's World Wire network, powered by Stellar blockchain, enables real-time settlement of
cross-border payments using digital assets, providing an alternative to traditional
correspondent banking networks.
• IBM's Trust Your Supplier platform, built in partnership with Chain yard, is an example of a
blockchain-based solution for managing supplier identities and credentials, reducing
administrative overhead and fraud risks.
• IBM's Digital Asset Custody Services (DACS) provide institutional-grade custody solutions
for digital assets, ensuring security, compliance, and regulatory oversight for tokenized assets.

SWOT ANALYSIS OF IBM BLOCKCHAIN

STRENGTHS:
• Strong Technical Expertise: IBM Blockchain benefits from IBM's extensive experience
and expertise in enterprise-grade technology solutions, allowing it to develop robust and
scalable blockchain platforms tailored to the needs of financial institutions.
• Strategic Partnerships: IBM has established strategic partnerships with leading financial
institutions, technology providers, and industry consortia, enabling it to collaborate on
innovative blockchain solutions and drive adoption across the financial sector.
• Comprehensive Solutions: IBM Blockchain offers a comprehensive suite of solutions for
various use cases in the financial sector, including trade finance, supply chain finance, cross-
border payments, digital identity, and regulatory compliance, addressing key pain points and
challenges faced by financial institutions.
• Interoperability and Integration: IBM Blockchain emphasizes interoperability and
integration with existing enterprise systems and infrastructure, allowing financial institutions
to seamlessly integrate blockchain technology into their operations and workflows.

40
WEAKNESS:

• Complexity and Learning Curve: Blockchain technology can be complex to understand

and implement, requiring specialized knowledge and expertise. Financial institutions may
face challenges in navigating the learning curve and understanding how to effectively
leverage blockchain for their specific use cases.
• Regulatory Uncertainty: The regulatory landscape surrounding blockchain and
cryptocurrencies is evolving rapidly, with uncertainty regarding compliance requirements,
legal frameworks, and regulatory oversight. Financial institutions may hesitate to adopt
blockchain solutions due to regulatory concerns and compliance risks.

OPPURTUNITIES:

• Efficiency Gains: Blockchain technology has the potential to streamline and automate
financial processes, reducing costs, minimizing errors, and improving operational efficiency
for financial institutions across various functions, including payments, settlements, and
compliance.
• Innovation and Differentiation: IBM Blockchain enables financial institutions to innovate
and differentiate themselves by offering new products, services, and business models
powered by blockchain technology, enhancing customer experiences and driving competitive
advantage in the market.

THREATS:

• Competition: IBM Blockchain faces competition from other technology providers,

blockchain start-ups, and consortiums offering competing blockchain platforms and solutions
for the financial sector. Financial institutions may choose alternative solutions based on
factors such as cost, functionality, and vendor reputation.
• Security and Privacy Concerns: Despite its inherent security features, blockchain
technology is not immune to security vulnerabilities and privacy risks. Financial institutions
must ensure robust security measures, data protection mechanisms, , and privacy controls to
mitigate the risk of data breaches, cyber-attacks, and unauthorized access.

41
SBI YONO, which stands for "You Only Need One," is a digital banking platform launched
by the State Bank of India (SBI), one of the largest and most prominent banks in India.
YONOis designed to provide customers with a seamless and convenient banking experience
through digital channels. SBI YONO, which stands for "You Only Need One," is a digital
banking platform launched by the State Bank of India (SBI), one of the largest and most
prominent banks in India. YONO is designed to provide customers with a seamless and
convenient banking experience through digital channels.

SBI YONO provides a personalized user experience, offering customized recommendations

and insights based on the user's financial profile, transaction history, and preferences. The
platform leverages data analytics and AI algorithms to tailor offerings and promotions to
individual customers. BI YONO integrates seamlessly with other digital platforms and
services, allowing users to perform various transactions and activities within the app, such as
booking flights, hotels, and shopping online. The platform also supports integration with
third- party Fintech apps and services to expand its offerings and capabilities.

VISION:
The vision of SBI YONO (You Only Need One) in the financial sector revolves around
leveraging digital technology to redefine banking experiences, enhance financial
inclusion,and empower customers to manage their finances seamlessly. YONO in the
financial sector is to create a digital banking ecosystem that enriches the lives of customers,

42
fosters financial inclusion, drives innovation, and builds trust, ultimately contributing to the
growth and development of the banking industry and the economy.

MISSION:
The mission of SBI YONO (You Only Need One) in the financial sector is centered around
leveraging digital technology to revolutionize banking experiences, promote financial
inclusion, and empower customers to achieve their financial goals.

ACHIEVEMENT:
SBI YONO has made significant strides in redefining banking experiences, driving digital
transformation, promoting financial inclusion, and empowering customers to manage their
finances more efficiently and conveniently.

SWOT ANALYSIS OF SBI YONO

STRENGTHS:
• Strong Brand Presence: SBI YONO benefits from the strong brand reputation and market
presence of the State Bank of India (SBI), one of the largest and most trusted banks in India,
which enhances customer trust and loyalty.
• Comprehensive Offering: SBI YONO offers a comprehensive suite of banking and
financial services, including account management, payments, loans, investments, insurance,
and more, all accessible through a single platform, providing convenience and value to
customers.
• Digital Adoption: SBI YONO has successfully capitalized on the growing trend towards
digital banking, attracting millions of users who prefer the convenience and accessibility of
mobile banking services, contributing to increased customer engagement and satisfaction.

WEAKNESS:
• Limited Reach: While SBI YONO has gained significant traction in urban and semi urban
areas, its reach may be limited in rural and remote regions where access to smartphones,
internet connectivity, and digital literacy levels are lower, potentially hindering its adoption
among certain segments of the population.

43
• Dependency on Technology: SBI YONO's reliance on technology and digital infrastructure
makes it vulnerable to disruptions such as system outages, cyber-attacks, or technological
glitches, which could impact the platform's reliability and trustworthiness in the eyes of
customers.

OPPURTUNITIES:

• Financial Inclusion: SBI YONO has the opportunity to further promote financial inclusion
by expanding its reach to underserved and unbanked populations, offering tailored financial
products and services, and providing financial literacy and education initiatives to empower
individuals and communities.
• Partnerships and Collaborations: SBI YONO can explore strategic partnerships and
collaborations with Fintech start-ups, technology providers, and ecosystem players to enhance
its offerings, integrate new features and services, and drive innovation in the digital banking
space.

THREATS:

• Competition: SBI YONO faces competition from other banks, financial institutions, and
Fintech companies offering similar digital banking platforms and services. Intense
competition could lead to pricing pressures, customer churn, and the need for continuous
innovation and differentiation to stay ahead in the market.
• Regulatory and Compliance Risks: SBI YONO is subject to regulatory requirements,
compliance standards, and data protection laws governing the financial sector. Regulatory
changes, compliance failures, or data breaches could result in reputational damage, legal
liabilities, and financial penalties for the platform.

44
Intercom Chatbots are intelligent conversational agents developed and deployed in the
financial sector to enhance customer service, streamline operations, and improve user
experiences. Intercom Chatbots offer instant responses to customer queries, providing round-
the-clock assistance without requiring human intervention. They can handle a wide range of
inquiries, including account balances, transaction history, product information, and support
requests, improving customer satisfaction and engagement.

Intercom Chatbots leverage artificial intelligence and machine learning algorithms to analyse
customer data and preferences, enabling them to provide personalized product

]\\Krecommendations, financial advice, and tailored solutions to users based on their

individual needs and goals. Intercom Chatbots offer a seamless and intuitive interface for
interacting with financial services, making it easier and more conveni ent for users to access
banking services, perform transactions, and obtain information. They can provide step-by-
step guidance, interactive experiences, and contextual assistance to enhance the user
experience.

VISION:

The vision of Intercom Chatbots in the financial sector is to create intelligent, empathetic, and
user-centric conversational experiences that empower customers, drive engagement, and
deliver value-added services, ultimately transforming the way people interact with financial
institutions and manage their finances.

45
MISSION:
The mission of Intercom Chatbots in the financial sector is to provide innovative, efficient,
and customer-centric solutions that drive engagement, satisfaction, and loyalty while
optimizing operations and delivering tangible value to financial institutions and their
customers.

ACHIEVEMENTS:
The achievements of Intercom Chatbots in the financial sector have transformed customer
service, driven digital innovation, and delivered tangible value to financial institutions and
their customers, enhancing engagement, satisfaction, and loyalty in the process.

SWOT ANALYSIS OF INTERCOM CHATBOT

STRENGTHS:

Enhanced Customer Engagement: Intercom Chatbots provide immediate responses to

customer queries, enhancing engagement and satisfaction by offering 24/7 support through
various digital channels.

• Efficient Operations: Chatbots streamline operations by automating routine tasks, reducing

costs, and improving efficiency in customer service, support, and sales functions.
• Personalized Interactions: Intercom Chatbots offer personalized recommendations based on
user preferences and transaction history, improving user experience and driving conversions.
• Data Security and Compliance: Chatbots prioritize data security and compliance, ensuring
the confidentiality and integrity of customer information, thereby building trust and
mitigating risks associated with regulatory non-compliance.

WEAKNESS:
• Limited Understanding: Chatbots may struggle to understand complex queries or nuances
in language, leading to misunderstandings and frustration for users, especially when dealing
with sensitive financial matters.
• Dependency on Technology: Intercom Chatbots rely heavily on technology, and any
technical glitches or failures could disrupt service delivery, impacting customer satisfaction
and brand reputation.

46
OPPURTUNITIES:

• Market Expansion: There is significant potential for Intercom Chatbots to expand their
presence in the financial sector by offering tailored solutions for specific niches, such as
banking, insurance, wealth management, and Fintech.
• Integration with AI and Analytics: Integration with advanced AI and analytics
technologies could enhance the capabilities of Intercom Chatbots, enabling them to provide
more intelligent, proactive, and personalized assistance to users.

THREATS:

• Competition: The financial sector is highly competitive, with numerous players offering
similar chatbot solutions. Intercom Chatbots face the threat of competition from established
incumbents as well as emerging start-ups and technology providers.
• Regulatory Changes: Changes in regulatory requirements and compliance standards could
impact the operations of Intercom Chatbots, requiring adjustments to ensure adherence and
mitigate legal and regulatory risks.

47
Affirm Chatbot in the financial sector is a significant advancement leveraging artificial
intelligence (AI) and natural language processing (NLP) technologies to enhance customer
service and streamline financial transactions. Affirm, a Fintech company known for its
innovative approach to lending and payment solutions, could potentially integrate a chatbot
into its services to provide personalized financial guidance, answer customer queries, and
facilitate transactions.

The chatbot can assist customers with inquiries related to loan applications, payment
schedules, account balances, and transaction history. This can alleviate the burden on
customer service representatives and provide instant support to users. The chatbot can also
serve as an educational tool, offering financial literacy tips, budgeting advice, and
information on managing debt responsibly.

VISION:
The vision of Affirm Chatbot in the financial sector revolves around revolutionizing the
customer experience, fostering financial wellness, and driving innovation in the way people
manage their finances.

Affirms vision for its chatbot in the financial sector is centered on delivering exceptional
value to customers, driving positive outcomes, and shaping the future of finance through
innovation, empowerment, and trust.

MISSION:

The mission of an Affirm Chatbot in the financial sector revolves around enhancing the
customer experience, promoting financial literacy, and facilitating seamless financial
transactions. It’s mission is to Empower Financial Wellness, Enhance Accessibility and
improve customer service

48
ACHIEVEMENTS:

The achievements of Affirm Chatbot in the financial sector highlight its transformative role in
revolutionizing customer experience, promoting financial inclusion, and driving positive
change in the industry. Affirm Chatbot has garnered industry recognition and awards for its
innovative approach to customer service, technological advancements, and positive impact on
the financial sector. Its achievements have been acknowledged by industry experts,
customers, and peers alike. Affirm Chatbot has played a key role in promoting financial
literacy by offering educational resources, budgeting tips, and personalized financial advice to
users. By empowering users with knowledge and tools to make informed decisions, it has
contributed to improving financial literacy levels among consumers.

SWOT ANALYSIS OF AFFRIM BUY NOW PAY LATER

STRENGTHS:

• Innovative Technology: Affirm Chatbot leverages advanced AI and NLP technologies,

giving it a competitive edge in delivering personalized financial services and enhancing user
experience.
• 24/7 Availability: The chatbot offers round-the-clock support, allowing users to access
financial services and assistance at any time, which enhances accessibility and customer
satisfaction.
• Cost Efficiency: By automating routine tasks and inquiries, Affirm Chatbot can help
financial institutions reduce operational costs associated with customer service and
transaction processing.
• Personalization: Through data analysis and machine learning algorithms, the chatbot
provides personalized financial recommendations and guidance tailored to individual user
needs and preferences.

WEAKNESS:

• Dependency on Technology: Affirm Chabot’s effectiveness relies heavily on the reliability

and accuracy of its underlying technology. Any technical glitches or downtime could result in
service disruptions and negative user experiences.
49
• Security Concerns: Handling sensitive financial information poses security risks, and
any breaches or vulnerabilities in the Chabot’s security measures could lead to loss of user
trust and regulatory scrutiny.
• Limited Human Interaction: While the chatbot offers convenience and efficiency, some
users may prefer human interaction, especially for complex inquiries or sensitive financial
matters, which could impact user satisfaction.

OPPURTUNITIES:

• Market Expansion: Affirm Chatbot can capitalize on the growing demand for digital
financial services by expanding its offerings to new markets or partnering with other
financial institutions to reach a broader audience.
• Integration with Emerging Technologies: Integration with emerging technologies such
as blockchain or voice assistants could enhance the Chabot’s capabilities and further
improve user experience and efficiency.
• Financial Education: There's an opportunity for Affirm Chatbot to enhance its role in
financial education by providing more comprehensive resources, tutorials, and personalized
advice to help users improve their financial literacy and make informed decisions.

THREATS:

• Competition: The financial sector is highly competitive, with established players and
new entrants continuously innovating in digital services. Affirm Chatbot faces the threat of
losing market share to competitors offering similar AI-powered solutions.
• Regulatory Compliance: Stringent regulations governing financial services may pose
challenges for Affirm Chatbot in terms of ensuring compliance with data protection,
privacy, and anti-money laundering laws, which could hinder its expansion and operations.
• Data Privacy Concerns: Heightened concerns about data privacy and misuse of personal
information could lead to increased scrutiny and regulations, impacting Affirm Chatbot’s
ability to collect and utilize user data for personalized services.

50
 CHAPTER-V
DATA
ANALYSIS
AND
INTERPRETATION

51
 PRIMARY DATA ANALYSIS

1.NAME

(It is given as Optional; few respondents have given their name and few didn’t)

2.What is your age group?

Table 5.1.2

S.NO AGE GROUP RESPONSES

1 18-25 51.8%
2 26-35 9.8%
3 36-45 16.1%
4 46-55 12.5%
5 ABOVE 55 9.8%

Figure 5.2.2

INTERPRETATION:
The above pie chart shows the percentage of age given response to the survey. The graph
clearly shows that 51.8% of respondents are of age group 18-25; 9.8% of respondents are
of age group 26-35; 16.1% of respondents are of age group 36-45; 12.5% of respondents
are of age group 46-55 and 9.8% of respondents are of age group above 55. Total number
of respondents are 112.

52
3.What is your gender?

Table5.1.3
S.NO GENDER RESPONSES
1. Female 58.9%
2. Male 33.9%
3. Prefer not to say 7.1%

Figure 5.2.3

INTERPRETATION:

The above pie chart shows the percentage of gender given response to the survey. The
graph clearly shows that 58.9% of respondents are female; 33.9% of respondents are male
and 7.1% of respondents prefer not to say. The total number of respondents are 112. The
total number of male respondents are 34. The total number of female respondents are 59.
The total number of members who did not prefer to say are 7.

53
4.What is your Education Background?

Table5.1.4

S.NO EDUCATION BACKGROUND RESPONSES

1. HIGH SCHOOL 9.9%
2. BACHLORE’S DEGREE 65.8%
3. MASTER’S DEGREE 13.5%
4. OTHER 10.8%

Figure 5.2.4

INTERPRETATION:
The above pie chart shows the percentage of education background given response to the
survey. The graph clearly shows that 65.8% of respondents studied Bachelor’s degree;
9.9% respondents studied

High school; 13.5% of respondents studied master’s degree and 10.8% of respondents
studied other than these. The total number of members who studied bachelor’s degree are
74 respondents. The total number of respondents who studied master’s degree are 14. The
total number of respondents who studied other than these are 12. The total number of
respondents who studied high school 11. The total number of respondents are 111.

54
5.What is your occupation?

Table5.1.5

S.NO OCCUPATION RESPONSES

1 EMPLOYED 24.8%
2 UNEMPLOYED 13.3%
3 STUDENT 48.7%
4 RETIRED 13.3%

Figure 5.2.5

INTERPRETATION:

The above pie chat shows the percentage of occupation of respondents of the survey. The
graph clearly shows that 48.7% of respondents are students; 13.3% of respondents are
retired; 24.8% of respondents are employed; 13.35% of respondents are unemployed.

The total number of respondents are 113. The total number of students are 56. The total
number of respondents who are employed are 29. The total number of respondents who are
unemployed are 14. The total number of respondents who are retired are 14.

55
 6. familiar are you with the latest technology trends in the financial sector ?

Table5.1.6

Figure 5.2.6

INTERPRETATION:
The above bar graph shows the percentage of respondents who are familiar with latest tech
trends in financial sector of respondents of the survey. The bar graph clearly shows that
7.1% of respondents are less familiar with the latest technologies in financial sector as they
gave ratings as 1; 6.3% of respondents are less familiar with the latest technologies in
financial sectorasthey gave ratings as 2; 30.4% of respondents are somewhat familiar with
the latest technologiesin financial sector as they gave ratings as 3; 39.3% of respondents are
familiar with the latest technologies in financial sector as they gave ratings as 4; 17% of
respondents are very familiar with the latest technologies in financial sector as they gave
ratings as 5. The total number of respondents are 112. The total number of respondents who
gave ratings are 8. The total number of respondents who gave ratings as 2 are 7. The total
number of respondents who gave ratings as 3 are 33. The total number of respondents who
gave ratings as 4 are 44. The total number of respondents who gave ratings as 5 are 19.

56
7.How often do you use technology in your financial activities?

Table5.1.7

S.NO USAGE RESPONSES

1 RARELY 54.9%
2 MONTHLY 36.3%
3 YEARLY 8.8%

Figure 5.2.7

INTERPRETATION:

The above pie chat shows the percentage of usage of Technology of respondents in
financial sector of the survey. The total percentage of respondents who use technology in
financial sector rarely is 54.9%. The total percentage of respondents who use technology in
financial sector monthly is 36.3%. The total percentage of respondents who use technology
in financial sector yearly is 8.8%. The total number of respondents are 113. The total
number of respondents who use technology in financial sector rarely are 63. The total
number of respondents who use technology in financial sector monthly are 42. The total
number of respondents who use technology in financial sector yearly are 8.
57
8. What financial apps or platforms do you currently use?

Table5.1.8

S.NO FINANCIAL APPS/PLATFORMS RESPONSES

1 BANKING APPS 45.1%
2 INVESTMENT APPS 28.3%
3 CRYPTOCURRENCY PLATFORMS 8.8%
4 OTHERS 17.7%

Figure 5.2.8

INTERPRETATION:
The above pie chat shows the percentage of usage financial apps or platforms of
respondents in financial sector of the survey. The total percentage of respondents who use
banking apps are 45.1%. The total percentage of respondents who use Investment apps are
28.3%. The total percentage of respondents who use cryptocurrency platforms are 8.8%.
The total percentage of respondents who use other apps are 17.7%. The total number of
respondents are 113.

The total number of respondents who use banking apps are 51. The total number of
respondents who use investment apps are 32. The total number of respondents who use
cryptocurrency platforms are 10. The total number of respondents who use other apps are
20.
58
9. Are you aware of recent technological advancements in the financial sector?

Table5.1.9

S.NO RESPONSES
1 YES 78.6%
2 NO 21.4%

Figure 5.2.9

INTERPRETATION:

The above pie chart shows the percentage of awareness of respondents about technical
advancements in financial sector given response to the survey. The total percentage of
respondents who have awareness about the recent technological advancement in financial
sector is 78.6%. The total percentage of respondents who did not have awareness about the
recent technological advancement in financial sector is 21.4%. The total number of
respondents are 112. The total number of respondents who have awareness about the
recent technological advancement in financial sector is 89. The total number of
respondents who did not have awareness about the recent technological advancement in
financial sector is 23.
59
10. Are you familiar with blockchain technology and cryptocurrencies?

Table5.1.10

S.NO RESPONSES
1 YES 55.8%
2 NO 44.2%

Figure 5.2.10

INTERPRETATION:

The above pie chart shows the percentage of respondents who are familiar with blockchain
technology and cryptocurrencies given response to the survey. The total percentage of
respondents who are familiar with blockchain and cryptocurrency technology is 55.8%.
The total percentage of respondents who are not familiar with blockchain and
cryptocurrency technology is 44.2%. The total number of respondents are 113. The total
number of respondents who are familiar with blockchain and cryptocurrency technology is
64. The total number of respondents who are not familiar with blockchain and
cryptocurrency technology is 49.

60
61
11. How do you feel about AI-driven financial services, such as Robo-
advisors or algorithmic trading?

Table5.1.11
S.NO RESPONSES
1 POSITIVE 29.7%
2 NEGATIVE 15.3
3 NEUTRAL 55%

Figure 5.2.11

INTERPRETATION:
The above pie chart shows the percentage of respondents about how they fell about the AI-
driven financial services, such as Robo-advisors or algorithmic trading given response to
the survey. The total percentage of respondents who have positive opinion on AI-driven
financial services, such as Robo-advisors or algorithmic trading are 29.7%. The total
percentage of respondents who have neutral opinion on AI-driven financial services, such
as Robo-advisors or algorithmic trading are 55%. The total percentage of respondents who
have neutral opinion on AI-driven financial services, such as Robo-advisors or algorithmic
trading are 55%. The total number of respondents who have positive opinion on AI-driven
financial services, such as Robo-advisors or algorithmic trading are 33. The total number
of respondents who have neutral opinion on AI-driven financial services, such as Robo-
advisors or algorithmic trading are 61. The total number of respondents who have neutral
opinion on AI-driven financial services, such as Robo-advisors or algorithmic trading are
17. The total number of respondents are 111.

62
12.How concerned are you about the security of your financial data when using
online or mobile banking services?
Table5.1.12
S.NO RATINGS RESPONSES
1 1 7.1%
2 2 1.8%
3 3 26.8%
4 4 39.3%
5 5 25%

Figure 5.2.12

INTERPRETATION:
The above bar graph shows the percentage of respondents about how their concern about
the security of their financial data when using online or mobile banking services. The
percentage of respondents who are concern about the security of their financial data when
using online or mobile banking services gave ratings as 1 is 7.1%. The percentage of
respondents who are concern about the security of their financial data when using online or
mobile banking services gave ratings as 2 is 1.8%. The percentage of respondents who are
concern about the security of their financial data when using online or mobile banking
services gave ratings as3 is 26.8%. The percentage of respondents who are concern about
the security of their financial data when using online or mobile banking services gave
ratings as 4 is 39.3%. The percentage of respondents who are concern about the security of
their financial data when

63
using online or mobile banking services gave ratings as 5 is 25%. The number of
respondents who are concern about the security of their financial data when using online or
mobile banking services gave ratings as 1 is 8. The number of respondents who are
concern about the security of their financial data when using online or mobile banking
services gave ratings as 2 is 2. The number of respondents who are concern about the
security of their financial data when using online or mobile banking services gave ratings
as 3 is 31. The number of respondents who are concern about the security of their financial
data when using online or mobile banking services gave ratings as 4 is 43. The number of
respondents who are concern about the security of their financial data when using online or
mobile banking services gave ratings as 5 is 28. The total number of respondents are 112.

64
13. What measures do you take to protect your financial information from
cyber threats?

Table5.1.13
S.NO MEASURES RESPONSES
1 STRONG PASSWORDS 31%
2 TWO FACTOR AUTHENTICATION 35.4%
AVOIDIND PUBLIC WI-FI FOR FINANCIAL
3 22.1%
TRANSACTIONS
4 OTHERS 11.5%

Figure 5.2.13

INTERPRETATION:
The above pie chart shows the percentage of measures you take to protect financial
information from cybercrime given response to the survey. The total percentage of
respondents who opted for strong passwords is 31%. The total percentage of respondents
who opted for two factor authentication 35.4%. The total percentage of respondents who
opted for avoiding public wi- fi for financial transactions is 22.1%. The total percentage of
respondents who opted for other options is 11.5%. The total number of respondents are
113. The total number of respondents who opted for strong passwords is 35. The total
number of respondents who opted for two factor authentication is 40. The total number of
respondents who opted for avoiding public wi- fi for financial transactions is 25. The total
percentage of respondents who opted for other options is 13.

65
 14. How important is user experience when choosing financial services or
applications?
Table5.1.14

S.NO RATINGS RESPONSES

1 1 3.5%
2 2 1.8%
3 3 29.25
4 4 38.9%

Figure 5.2.14

INTERPRETATION:
The above bar graph shows the percentage of rating given by respondents about importance
of user experience when choosing financial services or applications given response to the
survey. The total percentage of respondents who gave ratings about importance of user
experience when choosing financial services or applications as 1 are 3.5%. The total
percentage of respondents who gave ratings about importance of user experience when
choosing financial services or applications as 2 are 1.8%. The total percentage of
respondents who gave ratings about importance of user experience when choosing financial
services or applications as 3 are29.2%. The total percentage of respondents who gave ratings
about importance of user experience when choosing financial services or applications as 4
are 38.9%. The total percentage of respondents who gave ratings about importance of user
experience when choosing financial services or applications as 5 are 26.5%. The total
number of respondents who gave ratings about importance of user experience when
choosing financial services or applications as 1 are 4. The total number of respondents who
gave ratings about importance of user experience when choosing financial services or
applications as 2 are 2.

66
 15. What do you envision as the future of financial technology?

Table5.1.15
S.NO ENVISION RESPONSES
INCEASED ADOPTION OF BLOCHAIN AND
1 47.8%
CRYPTOCURRENCY
MORE PERSONALIZED FINANCIAL
2 47.8%
PRODUCTS
EXPANSION OD AI-ENVISION FINANCIAL
3 41.6%
SERVICES
4 OTHERS 9.7%

Figure 5.2.15

INTERPRETATION:

The survey revealed that respondents see increased blockchain adoption,

personalized financial products, and AI-driven financial services as key
future trends, with blockchain and personalized products leading the way
at 47.8% each, followed by AI-driven services at 41.6% and "other" options
at 9.7%. 54 respondents support blockchain, 54 support personalized
products, 47 support AI, and 11 support "other" options out of a total of
113 respondents.

67
16. Which emerging technologies do you believe will have the most significant
impact on the financial sector in the next five years?

Table5.1.16
S.NO TECHNOLOGIES RESPONSES
1 ARTIFICIAL INTELLIGENCE 65.2%
2 BLOCHCHAIN 39.3%
3 CHATBOT 30.4%
4 OTHERS 6.3%

Figure 5.2.16

INTERPRETATION:

The above bar graph shows the percentage of respondents about emerging technologies that
will impact financial sector in next five years. The bar graph clearly shows the percentage
of respondents who choose Artificial Intelligence is 65.2%. The bar graph clearly shows
the percentage of respondents who choose blockchain is 39.3%. The bar graph clearly
shows the percentage of respondents who choose chatbot is 30.4%. The bar graph clearly
shows the percentage of respondents who choose other options is 6.3%. The total number
of respondents who choose AI is 73. The total number of respondents who choose
blockchain is 44. The total number of respondents who choose chatbot is 34. The total
number of respondents who choose other is 7. The total number of respondents are 112.

68
 17.How frequently do you use digital financial services?

Table5.117
DIGITAL
S NO RESPONSES
SERVICES
1 DAILY 70.6%
2 WEEKLY 14.3%
3 MONTHLY 5.9
4 RARELY 8.4
5 NEVER 0.8%

Figure 5.2.17

INTERPRETATION:

The first pie chart represents the frequency of using digital financial
services among respondents. Out of 119 responses, a significant majority
—approximately 70.6%—indicated that they use digital financial services
on a daily basis. This clearly highlights the widespread dependence on and
integration of digital platforms in day-to-day financial activities.
Additionally, 14.3% of the respondents reported using these services
weekly, while 8.4% use them monthly. This shows that while daily usage
dominates, a fair number of users still access digital finance regularly, if
not every day. The results imply that digital financial tools such as mobile
69
banking, UPI apps, and payment platforms have become an essential part
of financial behavior for most individuals.

70
18.What device do you mostly use to access financial services?

Table5.1.18
S NO ACCESSBLE RESPONSES
FINANCIAL SERVICE
1 SMART PHONE 78%
2 LAPTOP OR DESKTOP 15.3%
3 TABLET 5.9
4 OTHERS 0.8

Figure 5.2.18

INTERPRETATION:

The pie chart analyzes the devices used to access digital financial services. Out of 118
responses, a striking 78% of users reported that they use smartphones for their financial
transactions. This finding confirms the dominance of mobile technology in digital finance,
likely due to the convenience, accessibility, and user-friendly nature of mobile applications.
Only 15.3% of respondents use laptops or desktops, suggesting that while these are still
relevant—possibly for more complex or formal banking functions—they are far less popular
than mobile options. A negligible number of respondents reported using tablets or other
devices. These insights indicate that mobile optimization should be a top priority for financial
institutions aiming to enhance user experience and expand their digital reach

71
19. How would you rate your satisfaction with digital financial
services?

Table5.1.9
SATISFACTION IN
S.NO RESPONSES
FINANCIAL SERVICES
1 Very Satisfied 62.12%
2 Satisfied 26.1%
3 Neutral 5.9%
4 Dissatisfied 5%
5 Very Dissatisfied 0.77%

Figure 5.2.19

INTERPRETATION:

The pie chart illustrates the level of satisfaction respondents have with
digital financial services. Out of 119 participants, a majority of 62.2%
reported being very satisfied, indicating a high level of contentment with the
functionality, convenience, and performance of digital financial platforms.
Additionally, 26.1% of the respondents marked themselves as satisfied, which
further supports the overall positive user experience. Only a small
percentage of users expressed neutrality, dissatisfaction, or strong
dissatisfaction, suggesting that negative experiences are relatively rare.
Overall, this chart reflects a strong approval and satisfaction rate among users

72
when it comes to digital financial services, highlighting their efficiency and
growing trustworthiness.

20.Do you feel secure while making online financial transactions?

Table5.1.20
Security in
RESPONSES
S.NO financial
transaction
1 Always 61.3%
2 Sometimes 33.6%
3 Rarely 8%
4 Never 0.5%

Figure 5.2.20

INTERPRETATION:

The pie chart provides insight into how secure users feel while making online financial
transactions. From the total of 119 responses, 61.3% of the participants stated that they
always feel secure during digital financial activities, which is a strong indication of trust in
the security measures adopted by financial service providers. Another 33.6% indicated they
feel secure only sometimes, suggesting that while they use digital platforms, some security
concerns still persist. Very few respondents marked “rarely” or “never,” reflecting that
serious security doubts are not widespread. In general, this chart reveals that digital

73
transaction platforms are perceived as mostly secure, though some users still require
reassurance and improved security communication from service providers.

74
CHAPTER - VI
FINDINGS
SUGGESTIONS
AND
CONCLUSION

75
FINDINGS:

 Majority 58.9% of respondents are female.

 Majority 51.8% of respondents age group is 18-25.
 Majority 65.8% of respondents Education background is bachelor's degree.
 Majority 48.7% of respondents Occupation is student.
 The majority, 39.3% of respondents, rated 4 for their familiarity with the
latest tech trends in the financial sector.
 The majority, 54.9% of respondents, use technology in financial activities.
 Majority 45.1% of respondents use banking apps currently.
 The majority, 78.6% of respondents, have awareness of the recent
technological advancements in the financial sector.
 Majority 55.8% of respondents are familiar with blockchain and
cryptocurrency technology. • Majority 55% of respondents feel neutral about
AI-driven financial services, such as Robo-advisors or algorithmic trading.
 The majority, 39.3% of respondents, about the security of their financial data
while using online or Mobile banking services.
 The majority 35.4% of respondents choose two factor authentication to
protect their financial information from cybercrimes.
 The majority 38.9% of respondents gave ratings “4” for how important user
experience is when choosing financial services or applications.
 Majority 47.8% of respondents envision more personalized financial products
and increased adoptions of blockchain and cryptocurrencies as the future of
financial technology.
 Majority 65.2% of respondents believe Artificial Intelligence is the emerging
financial technology that will impact the financial sector in the next five
years.

76
SUGGESTIONS:

 Handbook/Guide/Rules & Regulations of all the instructions, rules and

regulations, legal proceedings are clearly mentioned that are in a way
understandable by common man rather than complex guide which needs
further research of the words stated.
 Easy to use and time saving and should more focus on technology.
 Technology-driven innovations in the financial sector have led to cost savings
for users. Online banking and digital payment solutions often come with
lower fees and reduced transaction costs compared to traditional banking
services, benefiting consumers in terms of affordability and accessibility.
 While digital transactions come with risks, technology has also led to
improvements insecurity measures. Features such as two-factor
authentication, biometric verification, and encryption help protect users'
financial information and guard against unauthorized access and fraud.
 Advances in technology enable financial institutions to offer personalized
services tailored to individual user needs. Through data analysis and AI
algorithms, banks can provide targeted recommendations for savings,
investments, and budgeting strategies based on users' financial goals and
spending habits.
 Technology has made managing finances more convenient and accessible
than ever before. Online banking platforms and mobile apps allow users to
check account balances, transfer funds, pay bills, and even apply for loans
from the comfort of their homes or on the go.

77
CONCLUSION:

In conclusion, our study highlights the profound impact of technological trends on the
financial sector, reshaping the industry landscape and driving innovation at an unprecedented
pace. The convergence of digital transformation, Fintech disruption, and emerging
technologies such as blockchain, AI, and big data presents both opportunities and challenges
for financial institutions, regulators, and consumers alike.

Firstly, the widespread adoption of digital technologies is revolutionizing traditional

banking models, offering customers greater convenience, accessibility, and personalized
experiences. Mobile banking apps, digital wallets, and online platforms have become
essential tools for managing finances, accelerating the shift towards a cashless society.

Secondly, blockchain technology and cryptocurrencies are transforming the way financial
transactions are conducted, offering greater transparency, security, and efficiency. While
cryptocurrencies face regulatory uncertainties, blockchain holds promise for enhancing
trust, reducing fraud, and optimizing processes such as cross-border payments and supply
chain finance.

Furthermore, advancements in AI and big data analytics are enabling financial institutions
to gain valuable insights into customer behavior, improve risk management, and enhance
decision-making processes. Machine learning algorithms are powering chatbots, Robo-
advisors, and fraud detection systems, delivering personalized recommendations and
improving operational efficiency.

However, these technological advancements also bring regulatory challenges, cybersecurity

risks, and ethical considerations that must be addressed. Regulators need to strike a balance
between fostering innovation and safeguarding consumer protection, data privacy, and
systemic stability. Financial institutions must invest in robust cybersecurity measures, data
governance frameworks, and regulatory compliance to mitigate risks and build trust in the
digital economy.

78
ANNEXURE

79
BIBLIOGRAPHY

WEBSITES:

https://kmtech.com.au/information-centre/4-emerging-technology-trends-in-the-
financial- services-industry/

https://www.researchgate.net/publication/
372133244_A_Study_on_Significant_Role_of_Tec hnology_in_Financial_Sector

Review of literature:

https://www.dpi.com/2227 7390/8/6/951

Company profile: https://ai.google/

https://www.ibm.com/topics/blockchain#:~:text=Blockchain%20is%20ideal%20for
%20deliv ering,accounts%2C%20production%20and%20much%20more.

https://en.wikipedia.org/wiki/YONO

https://en.wikipedia.org/wiki/Affirm_Holdings

https://www.intercom.com/drlp/ai- chatbot?
utm_source=google&utm_medium=sem&utm_campaign=20834473821&utm_term

=intercom
%20bot&utm_ad_collection=160007468601&_bt=683673172717&_bg=16000746
8601&utm_ad=683673172717&offer=drcustombotsbiz&utm_campaign_name=go_b_pm_
ac q_core_demo_kw-
e_pros_chatbot_alls_alld_apac_ind_en&utm_ad_collection_name=ind_chatbot_bots&utm_
a
d_name=drcustombotsbiz_rsa_24Q2&gad_source=1&gclid=CjwKCAjwwr6wBhBcEiwAf
M EQs5-

fapp426xGSqrbyMjP3TrylGPySiz5W47mU6EHYqCZOGdG4G_6HhoCCgIQAvD_BwE

Conclusion:

https://link.springer.com/chapter/10.1007/978-3-031-32971-5_11

QUESTIONNAIRE

80
 1.Name:

2.Age

o 18-25

o 26-35

o 36-45

o 46-55

o Above 55

3.Gender

o Female
o Male
o Prefer not to say

4.Education background

o High school
o Bachelor’s degree
o Master’s degree
o Other

5. Occupation

o Employed
o Unemployed
o Student
o Retired
6. How familiar are you with the latest technological trends in the financial sector?

o 2
81
 o 3
o 4
o 5

7. How often do you use technology in you financial activities?

o Rarely
o Monthly
o Yearly

8. What financial apps or platforms do you currently use?

o Banking apps
o Investment apps
o Cryptocurrency platforms
o Others

9.Are you aware of recent technological advancements in the financial sector?

o Yes
o No

10. Are you familiar with blockchain technology and cryptocurrencies?

o Yes
o No

11.How do you feel about AI-driven financial services, such as Robo-advisors or

algorithmic trading?
o Positive
o Negative
o Neutral

12. How concerned are you about the security of your financial data when using online or
mobile banking services?

82
 o 1
o 2
o 3
o 4
o 5

13. What measures do you take to protect your financial information from cyber threats?

o Strong passwords
o Two-factor authentication
o Avoiding public Wi-Fi for financial transactions
o Others

14. How important is your user experience when choosing financial services or applications?

o 1

o 2

o 3

o 4

o 5

15. What do you envision as the future of financial technology?

o More personalized financial products

o Expansion of AI-driven financial services
o Increased adoption of blockchain and cryptocurrency
o Others

16. Which emerging technologies do you believe will have the most significant impact on the
financial sector in the next five years?

o Artificial intelligence
o Blockchain
o Chatbot
o Others

83
17. How frequently do you use digital financial services?

o Daily
o Weekly
o Monthly
o Rarely
o Never

18 . What device do you mostly use to access financial services?

o Smartphone
o Laptop/Desktop
o Grapht
o Others: ___________

19. How would you rate your satisfaction with digital financial services?

o Very Satisfied
o Satisfied
o Neutral
o Dissatisfied
o Very Dissatisfied

20. Do you feel secure while making online financial transactions?

o Always
o Sometimes
o Rarely
o Never

84
85