Write a research proposal on "Impact of new technologies in the financial sector"

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Expert Solution

Technology has completely revolutionized the way in which the financial sector operates.Modern and sophisticated technological advancements like Mobile internet, online banking, crowdfunding, peer to peer networking has completely changed the operations of financial sector.

Technology created a massive increase in the use of data and social media shaping consumer expectations and companies use this data to price and maintain different standard according to needs of various consumers.

Technology has helped the organisation in developing innovative financial services which are customized according to needs of the Consumer .

Technology has also enhanced the transparency and reduced the cost and time as people can buy online without physical appearance and money is also transacted online to avoid any kind of physical interaction .There is also a very sophisticated procedure for detection of fraudulent activities online and redressal of Consumer grievances online.

Overall, New technology has completely changed the way of interaction in financial world and hopefully it will get more sophisticated going forward.

jeff jeffy answered 1 year ago

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