Technology it's self is a world's miracle for the modern generation if used well , it can also cause unlawful acts if misused, technology has recently developed to new advancement to cater all sectors both in Agriculture, trade, medical, military, space engineering and many others.
Our focus on financial transactions, communication, modification and advancement on trade brought by technology is very impressive according to the statistics of financial progress and advancement in this modern generation.
The tech-companies across the world have made it upto the highest level of advancement to sustain financial soft, instant and user -friendly software and programs to run financial transactions this technology has impacted finances managed and eliminated carrying money in hard cash.
The banking sector with the help of technology advancement and new mobile and desktop built messaging applications like Whatsapp, Twitter, Facebook have connected the world business together as the messaging application are used for communication between manufacturer and the product buyers and the financial banking technology is used for good's payment without physical meeting between the manufacturer and the product buyers
The technology has introduced new payment system for regional and international transactions like PayPal, western union, this systems help businessmen to carryingout transactions easily.
The perfection of money access by using credit cards, debit cards, ATM and from a safe personal bank account with a secret account passt, traders no longer carry bulky money but only personalized bank account for business transactions and during purchasing ensuring it's safety.
Technology in finance sector is the most user friendly and technically functioning for the reason of ensuring proper service delivery of money to avoid loses and built trust to how the system works and has highly impacted alot to the business sector.
In balancing profits and loses of an institution, business, the system developed with high technology usually does most work. With this technology emergence in the industry it is easier for users to make real time payment, requesting quick loan disbursals boosting the finance sector with the technology, it is possible for people to get transparent insurance advisory.
Lending has become very easy between peers as the financial technology has impacted proper security to customers finances as it provides technical access by the customer to his finances through digital signature, biometric identity verification this has impacted high security to the customer's funds.
The good news about this generation is customers no longer need visiting Banks to see their account balance but just manage and transact the money instantly using mobile devices or desktops. As technology advancement moves on, the more security is improved.
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