Technology is developing rapidly and the world as we know is changing accordingly. New technologies are looking to increase convenience and ease of interaction for the general consumer in various sections like e-commerce, grocery, transportation, and banking.
For example, peer-to-peer lending, robo advisory, and UPI are just some of the elements in this new wave of evolution which is looking to aid the general consumer. The objective of it all remains seamless user experience, increased security, and greater convenience.
In 2018, a number of these technologies will come to the fore (some of them already have) and look to evolve how we transact our finances.
To throw some more light on these new fintech tools that can change the world of finance, I decided to take a look at some imminent solutions.
The Ease of Digital Banking
Banks in India have slowly but surely accepted the idea of providing services to consumers at the touch of a button. They realised that bringing the solutions directly to the consumer’s smartphone allows them a greater chance of interaction, rather than waiting for them to come to the bank.
At the consumer’s end, the transaction with mobile apps is easier and faster than standing in a line or filling up a document to make a transaction.