Technological Innovation In The Financial Sector
In the world, there are around 2,000 million people who are out of online financial services, and although this is still a matter that is constantly advancing, banking institutions with traditional models are beginning to have apps and technological systems for customers who want online transactions , loans to start a business and services that save time waiting in lines at the bank.
These solutions are based on online services bridging the distance and connectivity gaps with users around the world. The work is hard, however, the use of technology is one of the main solutions by the banking system, to such an extent that in Mexico there is already a Fintech Law for the term “finance technology” that is responsible for regulating online payments, financing and transactions in virtual currencies.
The benefits of having services such as bank terminals, online purchases and digital invoicing are part of the digital transformation of companies and in the near future, the plastic card will be replaced by a mobile service that allows payments to be generated through an associated account to a mobile device.
Contrary to what is thought, these financial facilities bring more benefits than risks, know some:
Greater control of payments and transactions is obtained since by having an online database, access is available from any device at any time of the day.
By accepting forms of payment related to the demands of users, the number of prospects and future customers is increased.
Link with social networks
In the world there are about 5 thousand users who are browsing the Internet, of which 98% of them involve the use of social networks. Future trends point to an increase in online purchases through social networks, but considering privacy and the use of personal data as a priority issue in these processes.
Developing countries are betting on financing small and large companies to join digital banking, which represents a benefit for startups in the process of digital transformation.
The change of the work space in the cloud allows receiving payments directly to a mobile device, issuing invoices and receipts at the time of receiving the transaction. This makes it easier for the next customer to issue their payment by having a bank terminal.
Protection of confidential information and user accounts against any possible natural disaster.
Through artificial intelligence it is possible to access in an easier but controlled way with faction or fingerprint recognition.
Exchange of vouchers
By having a digital platform, it is possible to obtain digital receipts and share them with other users, which leads to savings in paper and printing.
Advances in digital payments where it is possible to issue a payment directly from the mobile device without sliding the plastic through the terminal, offers enormous advantages over digital security with the certainty that confidential data does not pass through any other mobile device.