DIGITALIZATION IS FINANCIAL SERVICES
FinTech or Financial Technology
One sector that has benefitted the most from digitalization is financial services. Taking transactions online has made it easier for both customers and service providers. Moreover, the internet has become the go-to avenue for customers to go through a wide variety of:
Loan
(Personal, home, education and so on.)
Insurance Policies
(Health, term, vehicle, etc.)
Other Financial Services
(Credit cards, stock brokerages, credit unions and more.)
Customers can quickly review and compare insurance offers, loans and other financial offerings on the internet and make the payment instantly. However, in order to ensure the security and privacy of customers, stringent checks need to be performed to prevent cyberattacks and data leaks. FinTech or financial technology is the use of technology for making financial services better and more efficient. One of the leading emerging industries, fintech has led to the advent of opportunities that were previously untapped by traditional financial services.
Owing to the expanding financial instruments and options that an investor can have, portfolio management software has gained traction. Such a tool allows individuals and organizations to better manage and keep track of their investments by offering excellent auditing and reporting tools.