The 7 Biggest Technology Trends To Disrupt Banking & Financial Services In 2020

Only once that initial groundwork has been done can hyperautomation serve as a toolkit of powerful intelligent automation capabilities for banks. Chatbot solutions, enabled by sophisticated artificial intelligence, are being deployed by financial institutions to reduce costs and meet customers’ expectations regarding quick response and effective issue resolution. By 2020, chatbots are expected to handle no less than 85 percent of customer service interactions, according to Gartner. One thing that will likely make the rest believe in artificial intelligence’s potential for the industry are the cost savings that are expected to be $447 billion by 2023. The use of Chain of Custody and Control Forms (CCF) is vital for tracking specimens from collection to analysis.

Ensuring Quality Control in Drug Testing and Blood Banking

As more financial institutions realize how blockchain can improve security, save money, and improve customer satisfaction, more will adopt the technology. Additionally, the use of rapid testing kits, such as the InTec Drugs of Abuse Rapid Test or Alere iCassette® Dx Drug Screen, provides a quick qualitative analysis of samples. This allows for the preliminary screening of substances, which is essential in scenarios where immediate results are required to make informed decisions4. Confirmatory testing, often conducted through more sophisticated methodologies, is necessary to validate initial findings and ensure the reliability of the results10. Sharing innovative ideas about customer services like call centres, phone answering, business process outsourcing, lead generation, verification service, chat support etc. In an industry dealing with sensitive personal and financial information, and that’s an attractive target of cybercriminals, security is paramount for financial institutions.

Specimen Collection and Chain of Custody in Drug Testing

• As a result, seamless client experiences are achieved, contributing to the overarching goal of supporting public health initiatives by providing critical data to deter substance abuse effectively10.
• The process of drug testing involves rigorous procedures to maintain the chain of custody, ensuring that specimens remain uncontaminated and authentic from collection to analysis.
• Bank of America, Capital One and Wells Fargo have used chatbots for years for simple account queries, but today’s advanced chatbots could even offer financial advice.
• For the second year in a row, hyperautomation has been listed as one of Gartner’s strategic technology trends for the next 12 months.