Fintech Digest: AI-technologies are changing the banking services market, email as a payment tool, cryptocurrency in Australia

    Hi, Habr!

    Today we have this:

    • Forecast of future banking services from the World Economic Forum;
    • The ability to pay for services and products using e-mail for Russians;
    • P2P payment trends using mobile devices;
    • Cryptocurrencies to pay bills in Australia.

    Image: Cointelegraph

    Banking services are modified under the influence of AI

    This is true, the transformation of banking services is happening right now. The other day a World Economic Forum report was published on the results of a study of AI in banks, and the forecast tells us that by 2021, spending on various technological AI innovations will reach $ 58 billion. Of these, about $ 10 billion is the contribution of financial institutions. In addition, approximately 76% of current managers of security services at banks agree that AI technologies will improve security systems.

    In addition, robots will talk to people in chat rooms and all sorts of corporate messengers (which is already happening), as well as ensure high-speed transactions. It is possible that quantum computers, a blockchain and artificial intelligence will be involved in the technological tangle of banking services of the future - everything goes for this.

    Bank payments using email for Russians

    According to Izvestia, all Russian online stores will be integrated with the fast payment platform starting next year. In order to take advantage of new services, citizens will need to download special applications to their smartphones. Such software is developed by the association “Fintech” at the Central Bank. You will need to bind the card number to the email.

    During the payment process, a window will pop up, where you will need to specify the amount of transfer and e-mail address. Moreover, you do not need to enter the bank card details. As for security, the application will be protected from hacking as much as possible. In any case, the source of Izvestia, close to the Central Bank, is sure of this.

    P2P transfers by phone number

    Another study, which was conducted by Frank RG, concerns such topics as remittances. The research of the company is called “Money Transfers of Individuals in Russia in 2018”. This study covered such areas as banking organizations, e-wallets, mobile operators, money transfer systems without opening an account. In total, the work mentioned more than 40 participants in the payment market.

    As it turned out, from 2016 to 2018 there was a doubling of the volume of transfers between individuals - from 10 trillion rubles to 19 trillion. In most cases we are talking about P2P translations. Such factors as convenience, low cost and the almost complete absence of commissions influence their popularity. In addition, the market of banking reward programs is gradually developing, when the owner receives a reward for spending money from his cards.

    In the first place in popularity - P2P transfers by phone number, then - transfers by card number and by full name.

    Australian and cryptocurrency accounts

    And in Australia, the country's citizens were able to pay bills using Bitcoin and other cryptocurrencies. And regardless of whether the recipient takes digital assets or not. Reports about it Financial Review .

    Such an opportunity appeared due to an agreement on joint actions between the Gobbill billing platform and Cointree, an Australian cryptocurrency exchange.

    - We started only last year and we don’t have too many users, but thanks to the partnership with Cointree, we hope for an influx of customers. In the future, we will see if this becomes part of our daily life. Gobbill allows you to pay payment documents via a bank card or account, and now cryptocurrencies have been added to the list,
    - Gobbill co-founder Shendon Evans commented on the deal.

    That's all for today. Have a good weekend!

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