Financial technology has transformed our lives and the way we perform financial transactions. If you wish to learn more about the many applications of Fintech or even other interesting articles, Truly Coin is the place you should head on to.
While many still express their skepticism about allowing too much technology in the financial sector we have all been using more of Fintech than we realize. Here are 3 main ways in which Fintech is being used by almost everyone around the world.
Easy fund transfers
Transferring funds from one account to another doesn’t anymore require standing in long queues in the bank and filling out forms tediously. In a matter of seconds, funds can be moved from one account to another through online banking services as well as through mobile apps. Not only is this process quick but also pretty convenient.
Purchases made online can also be completed with online payments with the convenience of digital payments. This could be done either with mobile wallets or even with the recently popular cryptocurrencies. Most payment interfaces allow you to save your card details so that the payment can be done in a jiffy even when you do not have your card at hand. And POS or point of service terminals can now be found even in tiny stores. So payments small and big can be done without a hassle.
Automation of the investments
Investments have taken an all-new course with the advent of technology in this sector. People can now instantly get investment advice and pick the best investment plans based on their financial goals. Automation of the investments is also now pretty simple. And most of the brokerage firms also come with convenient chatbots that can act as virtual personal finance advisors.
Besides all the above uses security has been improved and management of finances has also become so much simpler thanks to the many faces of Fintech.…