Displaying items by tag: Savings
In today's world, everything is digitized, which means we can access or get every service in digital format through mobile phones, computers, tablets, etc. The invention of computers and smartphones has created a huge impact on financial services. Today using computers and mobile phones, a person can access his/her bank account, verify account details, transfer funds, deposit cash, renew deposit, pay bills, book tickets, etc.
The global economy will likely contract by over 5 per cent in this year 2020 due to the impact of COVID-19, according to the recently released Global Economic Prospects. The deepest global recession in eight decades is sending hundreds of millions into poverty, and recovery appears to be far off. Still, the crisis has encouraged incentives for economic transformation and adoption of digital business models, including increased use of digital financial services (DFS).
Financial inclusion means that individuals and businesses have access to useful and affordable financial products and services that meet their needs, transactions, payments, savings, credit and insurance, delivered in a responsible and sustainable way.
Financial activities today are not as they used to be before, amongst many reasons one of the biggest and crucial component is emergency of the so called financial technology or as famously known as Fintech.
Modern technology is all about efficiency and speed; it is about ensuring face-to-face communication, connecting you to your healthcare provider and empowering you by giving you more access and control to the kind of care you get as well as service you receive.