In the 21st century, fintech companies are moving more rapidly towards agile workflows and systems. Such a phenomenon has primarily stem from a need to adapt for changes in consumer behavior and regulations, all the while facing threats from non-traditional competition.
According to a report by McKinsey, automation is the “focus of intense interest” within the financial industry, and amongst banks in general. Many fintech companies are now in the midst of deploying the latest technologies that can automate their standard operations, which can raise productivity, reduce costs, and improve customer experience.
Artificial Intelligence in the Fintech Industry
There are clear success stories on the implementation of automation and artificial intelligence (AI) in the financial industry, chief among them being in Forex trading. Forex is an ever-growing industry that is worth $1.93 quadrillion, and recent studies have shown that the industry has a daily trading volume of $5.3 trillion.
To succeed in Forex trading, and to minimize the risk of failure, traders are increasingly reliant on new technology like AI. In fact, stats show that approximately 90% of successful Forex traders today rely on AI trading robots to make money. IPCapital, a Canadian enterprise, is the perfect example of how beneficial AI and machine learning can be in the Forex market.
Introduction to IPCapital
IPCapital is an international Fintech company focusing on financial services and technological R&D, upholding the principles of professionalism, innovation, and integrity to serve the financial market, and they have attempted to capitalize on the AI trend with the launch of its proprietary AI analytical (AIA) BOT system. Some of the major benefits of implementing AI into Forex include machine learning and predictive analytics. Predictive analytics uses existing trade data and algorithms to predict market fluctuations, and can analyse massive amounts of data at an incredible rate. In addition, automated AI systems will never tire out, unlike humans. AI systems also operate without emotions such as greed or fear, and they can back-test any trading strategy against past data to ensure that every trade is optimized.
By letting the AI systems do forecasts and analytical tasks, traders using the IPCapital AIA BOT system can focus on creating wiser trading strategies that are backed by real data and have certifiable winning rates. The AIA BOT system boasts a winning rate of over 97%, and can automatically and accurately analyse investment and trading patterns according to specified technical settings and pre-set algorithms. It is suitable for all types of users specialising in short-term arbitrage, day trading, and even long-term investments.
Users of the AIA BOT system can trade multiple products, such as forex, gold, commodities, oil, and even cryptocurrencies. In addition, IPCapital has a regulatory licence from the Canadian Financial Regulatory Agency, and can effectively serve a global pool of traders who are interested in using AI technology to elevate their trading to the next level.
Cloud Storage System of the Future – IPCloud
Besides focusing on AI trading systems, IPCapital is also involved in the research and development of digital asset management, enterprise-management software, cloud storage systems and more. IPCapital has identified cloud storage to be the next biggest investment opportunity, and have spent years developing IPCloud – a cloud storage and digital asset management platform.
IPCloud is a diversified asset management platform equipped to provide reliable and trustworthy custodian services for both enterprises and individual users. It offers a wide variety of wealth management services, digital asset staking, and custodian services for users all over the world. In addition, the platform has also integrated AI technology into its security system, which can effectively reduce fraudulent actions and hacking risks posed by hackers and malicious actors on the platform.
The Path Forward
Delivering what customers want requires a total digital transformation in the industry, and many fintech companies are innovating to bring more benefits to consumers. As a leading company within the financial industry, IPCapital is determined to use new technologies such as blockchain and AI to bring forth increased convenience and security.
Through innovative products such as the AIA trading bot and IPCloud, IPCapital will challenge conventional systems, creating a deeper and richer set of capabilities that can transform the space.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Bengaluru Bytes journalist was involved in the writing and production of this article.