My research paper will highlight technology and innovation in banking and finance sector. I chose this topic because I am majoring in finance and wanted to research the technology currently available in the banking industry as well as new technology trends. I believe that the financial and banking industries must remain constantly evolving and innovative in their technology to keep up with advancements and the growing expectations of user communities for an optimal experience. In a report compiled by PwC, 77% of financial institutions will increase their internal efforts to innovate, and many companies will embrace the disruptive nature of FinTech. That being said, financial institutions will need to keep up with the latest trends in order to remain competitive. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an original essay During my research, I learned that there are a growing number of technologies and tools that banks will need to either consider and/or adopt to maintain customer satisfaction, remain competitive, and increase revenue . New technologies combined with operational innovation are important for the sustainable health of the banking sector. Bankers and financiers are innovating to continue to make profits despite a rapidly changing financial environment, including changes in competition, regulation, technology and the macroeconomy. With the rise of technological innovation, the banking sector is transforming and experiencing radical changes. Banks are looking to the future as they seek to engage in new technology solutions, including the digitalization of their processes. They also invest in FinTech companies to improve their services and improve customer experience. There are several new trends in banking technology. Data monetization is one of the major banking technology trends that helps businesses realize different revenue opportunities. Data monetization allows a business to leverage and measure economic benefits while reducing expenses and generating revenue. Some businesses, such as information service providers, have always aimed to derive value from data. However, the ability to use and monetize data now affects almost every type of business. Most banks have traditionally had a standardized system, but customization has become a major new trend in banking technology. API banking gives banks the flexibility to offer personalization to their customers. As the financial brand notes, APIs “provide the gateway to innovative, contextual solutions that would be difficult to deliver without open banking.” According to Goldstein, by the end of 2018, 50% of global Tier 1 and Tier 2 banks will offer at least five external APIs. Another trend to watch out for in banking is artificial intelligence and data analytics. According to Sorrentino (2018), “the debate about how artificial intelligence (AI) and big data promise to transform the world is not going away anytime soon.” AI has proven its ability to collect and use data to predict activities that can make our lives and businesses more efficient. Banks use technology to populate the paperwork associated with finalizing a loan document with information they already have on file. There is also.