The article discusses the rise of Deobanking, a new concept that combines artificial intelligence (AI) and blockchain technology to transform the financial industry. Deobanking removes intermediaries and operates on-chain, improving transparency, transaction execution time, and costs. It offers a decentralized, self-custodial experience, safeguarding users' funds from freezing or withdrawal restrictions. Deobanking providers aim to adapt to global and local regulations and enable fast, low-cost, and border-independent transaction confirmations. AI is used to automate banking functions, streamline KYC processes, enhance security and fraud detection, and maximize yield on DeFi investments. The article highlights WeFi's Deobank as a pioneer in this new paradigm, creating an efficient and intelligent ecosystem for financial services.



Other News from Today