Computer Vision is the term given to machines that can see and all the associated science and technology that helps make that a reality. In business, it’s manifested mostly in Augmented Reality (AR) and Virtual Reality (VR) applications. The fintech sector is using computer vision to boost growth, transforming financial services by using appealing visuals and helping accentuate the difference between fintech and the traditional finance industry.

Computer Vision Changes How We Interact with Numbers

In general, people make better decisions when they take on information visually, rather than through a stack of numbers. Computer vision gives people working in finance a new way to see data. In today’s financial world, when there is more data than ever, this can be invaluable when making decisions about where to move money. 

Many different companies are developing apps around computer vision. Salesforce teamed up with Oculus Rift to develop a VR app that brings data to life, creating  an immersive 3D VR environment for salespeople to visualise data, including contacts, opportunities and closed deals. 

Finally, fintech is using computer vision to address a significant concern for consumers – security. Computer vision technology is being used to develop biometric security, verifying who people are by reading their eyes. Eventually, this technology could be used in banks and at ATMs instead of chips or PINs.

The mission of the fintech sector is to disrupt the traditional financial industry using technology and make it more accessible. Computer vision certainly helps it do that. It’s especially effective at reaching a younger audience who had previously no interest in finance – new solutions for a new world, where seeing is believing.