Since the pandemic, we have seen a series of trends emerging in the banking sector. But, creating a recession-proof and efficient banking business model, finding new ways to automate tedious tasks, upgrading the technology systems, and finding ways to be profitable top the list. Extentia, a Merkle Company, is a global technology and services firm that helps clients transform and realize their digital strategies. With a unique Experience Centric Transformation approach, our ground-breaking solutions are in the space of mobile, cloud, and design. Our team is differentiated by an emphasis on excellent design skills that they bring to every project. Focused on enterprise mobility, cloud computing, and user experiences, we strive to accomplish and surpass their customers’ business goals. Our inclusive work environment and culture inspire team members to be innovative and creative and to provide clients with an exceptional partnership experience. Expand your digital horizons with us. We will help you transform your business and surpass your goals. https://www.extentia.com/ Write to us at inquiries@extentia.com

1. Extentia, a Merkle Company | Confidential | www.extentia.com
MODERN TECHNOLOGIES
DISRUPTING THE BANKING
SECTOR

2. Extentia, a Merkle Company | Confidential | www.extentia.com
• Leading banks are using the cloud to access
secure, resilient infrastructure with a pay-as-
you-go model to build and scale robust
solutions quickly
• Cloud computing offers agility to the banking
industry, multiplying the sector's innovation
and enabling faster go-to-market speed for
fintech companies
• Moreover, banks rely on cloud computing to
maintain business continuity, offer a high level
of data protection, fault tolerance, and disaster
recovery
• In recent times, cloud computing has been in
demand to enable 24/7 customer service for
its clients, which possesses a competitive
advantage in the evolving business dynamics
Cloud Computing

3. Extentia, a Merkle Company | Confidential | www.extentia.com
• The banking industry uses artificial intelligence
in intelligent chatbots, automatic credit
scoring, and wealth management platforms
• These functionalities enable seamless
operations and adhere to the global regulatory
compliance requirements by preventing fraud
• As most banks rely on remote customer
onboarding and verifications, AI-based
solutions make customer enrollments possible
through face recognition and enhanced OCR
engines used for data extraction
• Moreover, leading banks use AI to streamline
customer service and allow their customers all-
time access to banking operations through
mobile banking, with a robust layer of security
to detect fraud
Artificial Intelligence

4. Extentia, a Merkle Company | Confidential | www.extentia.com
• First used in the cryptocurrency Bitcoin, blockchain
technology became known as a transparent and
verifiable way of making transactions
• The Harvard Business Review predicts that
blockchain will disrupt banks the way the Internet
disrupted media – something that we can already
see happening in our day-to-day banking
transactions.
• Blockchain is predominantly used in scaling
operations and offering excellent customer
experience as it helps in:
• Acquiring user data through safe and secure channels
• Storing it effectively on cloud databases with scalability
• Allowing consumers to perform fast transactions
• Reducing the risk of cyberattacks with the use of
encryptions and no intermediaries involved
Blockchain

5. Extentia, a Merkle Company | Confidential | www.extentia.com
• Several financial institutions and banks are
leveraging the RPA technology as it saves labor
costs, involves less operational cost, and leaves
little scope for errors with the promise to offer
a premium experience to the customers
• Managing financial transactions is far more
accessible now, with RPA/automated systems
taking over the manual and tedious tasks
• RPA also has applications in data collection to
compliance regulations to, transaction
management, and email marketing via bots
• Naturally, these benefits streamline the
banking operations and deliver seamless
services to its customers
RPA

6. Extentia, a Merkle Company | Confidential | www.extentia.com
• Managing data is the biggest challenge for
banks and financial institutions
• With Big Data analytics in view, intelligent
models can process basic information
derived from large sums of data to detect
patterns and future predictions
• Access to real-time actionable insights
gives a competitive advantage to banks,
helps them make informed decisions, and
elevates the consumer experience
• Data mining and its analytics help banks
develop market strategies to the best of
their customers’ interests and develop
relevant solutions
Big Data Analytics

7. Extentia, a Merkle Company | Confidential | www.extentia.com
• APIs (Application Programming Interface) enables
new apps or implementation of new features and
services to the existing apps
• An increasing number of credit unions, payment
processors, traditional banks, and fintech companies
are now realizing the potential benefits of API
banking
• Many top banks have already launched their API
services, and many more are planning to do so
• By opening their APIs, banks can connect other APIs
in the market to extend their service offerings by
integrating native fintech solutions in a plug-and-
play manner
• Adopting open banking APIs adds to the bank's
appeal and encourages its customers to engage with
their financial data innovatively. This helps further
customer engagement and improve customer
satisfaction
APIs

8. Extentia, a Merkle Company | Confidential | www.extentia.com
• Since the pandemic, we have seen a series
of trends emerging in the banking sector
• But, creating a recession-proof and
efficient banking business model, finding
new ways to automate tedious tasks,
upgrading the technology systems, and
finding ways to be profitable top the list
• Another important and upcoming trend in
the offing is banking-fintech
collaborations. Researchers believe that
both players master and lack in a few
areas, and eventually, the association will
lead to life-changing and innovative
solutions in the coming years and will
dictate how we bank or manage finances
What’s Next?

9. Extentia, a Merkle Company | Confidential | www.extentia.com
Thank You!
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