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Extentia, a Merkle Company | Confidential | www.extentia.com
MODERN TECHNOLOGIES
DISRUPTING THE BANKING
SECTOR
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
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
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
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
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
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
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?
Extentia, a Merkle Company | Confidential | www.extentia.com
Thank You!
Write to us at inquiries.extentia.com to learn more
More about Extentia’s Internet of Things (IoT) offerings at www.extentia.com

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Modern Technologies Disrupting the Banking Sector

  • 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! Write to us at inquiries.extentia.com to learn more More about Extentia’s Internet of Things (IoT) offerings at www.extentia.com