Robotics: A Powerful Educational Tool

Three focuses of my blog are General Education, STEM and Technology. As the world becomes more and more automated, there will be an increasing need for individuals to be trained in robotics and associated technologies. There are also benefits to robotics as an educational tool. The following guest post is entitled, Robotics: A Powerful Educational Tool.

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The field of robotics has numerous applications in various industries, usually in manufacturing different products in high volumes. Robots are ideal in these fast-paced environments as they can work for long hours without the risk of injury or exhaustion.

Robotics has also seen its impressive share of innovation through the years. Today, robots have the capability of sight. These robot vision systems increase precision and accuracy, helping improve the quality of products in many industries.

Aside from speeding up production processes, robots assist humans in other areas such as engineering and healthcare. Robotics also enriches the learning of students through their uses in the classroom setting. It provides a unique avenue of knowledge for learners of all kinds.

These are a few examples of how educators have adopted robotics as a tool for education.

Making Inclusive Education a Reality

Students in the STEM track are not the only ones who benefit from robotics. Students with special needs receive the necessary support for their different learning requirements.

An example of this is how robotics have been helping students in the autism spectrum develop their social skills. Some learners with autism can be uncomfortable in situations in which they have to interact with unfamiliar people.

Robotic solutions startup LuxAI responded to the need for innovative learning tools for children with neurodevelopmental disorders with the creation of QTRobot, an educational robot with play-based activities for social and cognitive development. These kinds of technologies make learning more encouraging and accessible for learners with disabilities.

Students with medical conditions that keep them from leaving home also benefit from having telepresence robots that enable them to do in-school activities. These robots are built to show a student’s presence in the classroom, with a tall vertical body with a screen on top to show the student’s face.

Simplifying Programming for Students

As robots increasingly play a larger role in daily living, students have much to gain from learning how to program. Robots are an interesting way to ease students into the art of programming, as these activities make learning about these technical and mechanical processes more enjoyable.

Of course, learning programming through the traditional classroom method is important. Bringing robotics in provides students with a practical application to help them put into practice what they learn in class.

Young learners can also more easily be introduced into the world of coding through robots. Many in the market teach kids aged three years old and above simple algorithms through puzzles and interactive storytelling. Robotics company Edison even has free lesson plans available online for use with their child-friendly robots, making coding education easier for many students.

Introducing robotics to children demystifies programming at an early age, thus encouraging more students to pursue STEM for higher education.

Sharpening and Broadening Students’ Skill Sets

More and more companies are automating to bolster their production and keep up with rising demands. However, industrial robots are complicated and often dangerous tools that trained professionals must only use. The rate at which organizations worldwide are adopting robots, and artificial intelligence necessitates more laborers who are knowledgeable in this field.

As robots take the place of humans in assembly lines, more human capital will be needed to operate and maintain these machines. Managing robots requires creativity and critical thinking skills, which are unique to humans, making humans an integral part of large-scale automation.

Giving Students Practical Experience Through Simulation

There are many ways in which students gain ample practical experience through educational simulators.

For example, students at the high school level often begin taking driving lessons. Driving simulators give driving students a realistic driving experience within a safe and controlled environment.

These simulators mimic the look and feel of driving an actual car, which helps students become better acquainted with the controls of a vehicle. The replication of real-life traffic situations also allows them to be prepared to face challenges that might come up on the road once they gain their driver’s licenses.

Simulators are also immensely helpful for medical students who will have to deal with various sensitive operations as doctors. These allow future doctors to gain training on how to perform surgeries safely and with precision. Simulations of different scenarios help them make proper decisions to ensure future patients’ safety while also preparing them for possible emergencies.

With its many applications in different fields, especially in education, robotics is a highly beneficial teaching tool for students of all levels. The sooner they are adopted in the classroom setting, the more enriched students’ learning will become.

What are the Benefits of a VPN?

A key focus of my blog is Technology. Many individuals and organizations employing the use of VPNs. In today’s age of cybercrime and cyberattacks, they are a necessary form form of digital security. The following contributed post is entitled, What are the Benefits of a VPN?

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Whether you are a business or an individual, you can benefit from a VPN service.

VPN stands for Virtual Private Network, and it’s the best way to ensure your network is private and functions efficiently.

Nobody needs the random restrictions of an ISP admin to override their network at key times or take a threat in your data.

Below are the great benefits of a VPN service.

BETTER PRIVACY

Although there is a lot made of data security these days and new regulations like the GDPR laws have come into play, there is still a big issue over data privacy. The fact is that Web browsers, corporations, and governments can easily access your connection.

Every time you or an employee in your business uses the Internet, data is collected and analysed. A VPN can prevent this from happening. A VPN will encrypt your messages when you send and receive them, ensuring your company remains private and secure.

AVOID DATA THROTTLING

What could be worse for your business than data throttling? This is when your ISP notices you have used more than your data allowance and decides to slow your data speed, resulting in a reduced service. This is terrible for your business and its reputation.

When you use a VPN from your business, your data will be secured from the prying eyes of your ISP. It will also be free from data caps meaning there is no risk of your company slowing down through a busy period, which, let’s face it, is when you’re like to run your data down.

AVOID BANDWIDTH THROTTLING

Similar to data throttling, bandwidth throttling is when your ISP decides to lower your bandwidth at certain times of the day. This means might be taken based on the types of websites being visited or the volume of traffic coming through.

Again, this is not something you want when you’re trying to operate a profitable business. The last thing you need during busy periods is someone at the ISP deciding that your bandwidth is too high and taking administrative measures. A VPN can encrypt your network, so this is not possible.

BLOCKED ACCESS REGION

Sometimes the region for a service is blocked by the ISP or some other organisation. It means your company can’t access certain files, documents, or content that’s regionally restricted. But if you need to access this, there is a workaround by using a VPN.

Your VPN will change the IP address, so your service provider thinks you are operating from a different region. It will then grant access to the content. This process is legal in most cases but checks the terms of the content before using the VPN to make sure.

AVOID CENSORSHIP

If you or your business need to access content of service – such as social media sites – in regions that have various censorship rules, then a VPN service like NordVPN 3 Year Deal can help. Like an access blocked area, a VPN can change the region of the IP address making it local to the content. In this way, you can communicate with important business people or access content you need to take a project forward.

How ATM Technology Has Changed Overtime

Two focuses of my blog are Financial Literacy/Money and Technology. The concept and use of money has continued to evolve within civilization. A significant invention is the creation of the ATM. The following contributed post is entitled, How ATM Technology Has Changed Overtime.

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ATM banking tech has made customers’ lives much easier as the technology allows for seamless transactions anytime, anywhere. Varying bill denominations and cardless automated teller machine access represent two significant breakthroughs that are set to enhance consumers’ banking experience. While financial technology has a long history stretching back to the 1960s, here are four unique features revolutionizing ATMs today.

1. Paperless receipts

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If you are a customer who regularly visits banking halls, perhaps the sight of receipt-littered ATM cash points is something you are used to. The majority of customers print their receipts only to glance through their balance and dump the paper into the trash can or drop it on the floor. To some people, printing ATM paper receipts is a fun activity that spices up their banking experience. To address litter and keep their banking premises clean, financial institutions resort to paperless receipts via email.

2. Varying bill denominations

In the USA, ATMs were used to dispense cash only in single denominations such as the $20 bill, making it challenging when change was needed. Realizing that customers want more flexibility in ATM banking, banks have introduced more innovative ATMs that can now dispense multiple denominations of currencies. This has simplified cash withdrawal processes for consumers. Today, institutions like Chase and PNC are rolling ATMs that can issue smaller denominations, including $1 and $5. Being able to withdraw your money in smaller currencies means you won’t end up withdrawing less or more than what you actually need.

3. Cardless ATM access

The smartphone age has prompted innovators to consider building cardless ATM systems. People will be able to use their smartphones to access their ATM funds without any need for cards. Several smartphone manufacturers are starting to build mobile devices with near-field communication (NFC) features. These will make it possible for smartphones to communicate with ATMs in proximity. SunTrust bank intends to implement this feature in their ATM so that customers can use their NFC-enabled phones to transact with their ATMs without cards. This means that smartphones could essentially eliminate debit cards at ATMs in the next few years. Automated teller machines have remained relevant for the past half-century, and the technology behind them continues to evolve for the better through invention and reinvention.

4. Contactless payment and biometric ATMs

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Self-service digital banking and automated banking tech are getting smarter by the day, with some ATMs now offering “tap and go” contactless payment options. ATMs with biometric recognition features can identify customer’s fingerprints, irises, and voices. The vital role of ATMs in the financial system owes its success to the effective collaboration between bankers and engineers.

It took more than two decades for ATMs to gain worldwide acceptance, and as of today, there are over 3.5 million of them around the world. Besides, many innovative companies specialize in ATM repair and installation across Northern California and the USA for customer use. If you can keep your ATMs running efficiently 24/7, you are more likely to boost your customer satisfaction.

What It Takes to Create A Strong Online Presence

Two focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. In today’s digital age, the majority of business is conducted online. As such, you want to create as a strong a presence online as possible. The following contributed post is entitled, What It Takes to Create A Strong Online Presence.

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How solid is your digital presence? Ever since the digital era took hold worldwide, people have seen the need to have an online presence to support business growth. However, not many give much thought to going beyond having a website. The idea of creating a solid online presence is to capitalize on the several advantages the internet offers. Today, it’s not good enough to just have an online footprint. Besides, with 4,208,571,287 internet users worldwide, you have no choice but to employ tools that set you apart from the rest. Here are a few strategies worth considering:

1. Build a captivating website

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Your website is the face of your online footprint. It’s the first impression you get to create on people who chance upon your digital address. No matter how well known your brand is, without a solidly captivating website to draw more people, your product or service will be impacted negatively. Apart from being visually appealing, an excellent website must have the following features:

● User-friendly
● Quick loading time
● Suited to drive conversions from web traffic

Nonetheless, the most critical feature of any good website is security. How secure are visitors or guests to your page? Was your website built with a focus to protect visitors’ digital details from virtual attacks? These are essential questions you’ll need to answer if you intend to create a solid presence in the virtual space.

Fortunately, as technology advances, new software is developed to cater to these growing demands. For example, the JAMstack website builder is one such application changing the face of websites worldwide. It’s faster, secure, and designed to beat the competition. It would help if you tried it for lasting positive results.

2. SEO

Search Engine Optimization is a tool you can’t overlook in today’s competitive online world. This digital tool is designed to singularly influence how well your online presence ranks among a sea of others within the same space. According to Statista, over 64% of Americans prefer to conduct an online search on products or services before making an actual purchase. Therefore, companies with excellent SEOs tend to benefit more from such online searches.

Today’s consumer is more discerning, a lot more internet-savvy, and exhibits changing behavioral purchasing patterns. As a result, you should leverage the benefits of search engine optimizations and factor that into the kind of quality content you produce for the end-user.

Moreover, SEO has a direct influence on website performance and traffic conversions. Furthermore, it’s advisable to make a deliberate effort to stay updated on the latest SEO trends not to lose your online influence. Without it, you’ll be no different from those without digital footprints.

3. Be geared toward mobile influence

According to Pew Research, the mobile phone penetration rate in the United States stands at 97%. With the advancements made in the smartphone industry, more Americans own mobile devices that allow them to gain instant access to the internet. Therefore, laptop and desktop computers are gradually coming second to the smartphone, regarding internet access.

Have you optimized your online pages for tablets and smartphones? Because many Americans find their smartphones and tablets convenient for web browsing, you should think along those lines. Suppose your digital pages make it impossible or difficult for mobile users. In that case, you should be ready to record a drastic drop in your followers, customers, or general internet users.

The same Pew Research study reveals that by 2025, business owners stand to lose almost 90% of income generation channels if they fail to make their content mobile-friendly. There’s hope, however; if you’re unsure about your digital status, take a mobile-friendly test by using Google analytical tools. On this platform, you get to resolve relevant usability issues.

4. Register in business directories

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Do you remember those bulky yellow pages? Well, they have also gone online, and so should you. Online business directories are designed to simplify the search for credible businesses in varied locations. How quickly do you intend to be found by consumers? Customers tend to trust directories a lot more than online reviews because these listings undergo thorough verification processes. As a result, there is a significantly reduced chance of seeking an inefficient service provider’s assistance.

In conclusion, your commitment to creating a robust online presence should be driven by the desire to meet growing needs. Besides, as a business owner, you’ll be doing your establishment a lot of good by taking the necessary steps to carve a niche in this competitive space.

Achieving Success Day-One Success With Your Ecommerce Business

Three focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. Many people have successfully launched ecommerce businesses. If you start one, you want to “hit the ground running” as they say. The following contributed post is entitled, Achieving Success Day-One Success With Your Ecommerce Business.

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The last year or so has seen a dramatic shift in the way that many people do their shopping. While e-commerce websites have long been popular, they have never seen as much attention as they have over the last couple of years. For small businesses, this presents an excellent opportunity to get their products into the hands of customers across the world. But how exactly are you supposed to make this sort of website successful from day one?

Social Media

Social media has long been a popular tool for online businesses, offering a way to advertise yourself for free while reaching huge audiences. Building a social media presence before you open your store will help you to develop a customer base that will be eager to shop with you from day one. It can be worth getting help with social media if you haven’t used it much in the past, but you can find a marketing agency that will be able to guide you through this process.

Search Engines

Google, Bing, and the other search engines used on the web today have provided an excellent way for people to find small businesses for a long time. Much like social media, you can build your presence on search engines before you open your website, and this will require a process known as SEO. This can be quite complicated when you first start out, making it well worth taking the time to research it before you dive right in.

Hype Building

Building hype can enable you to develop a customer base for your product without having to sell anything. Many companies do this through social media, using teaser trailers, celebrity endorsements, and other tricks that will appeal to their customers. Building hype can be a great way to make your product take off, but you need to make sure that you approach this carefully. Companies that fumble when they try to build hype can end up having the opposite effect, drawing people away from their products.

Your Website

The website that you will be using to sell your products will be instrumental in your success in the beginning. You will have to work on things like SEO, but you will also need to build a website that looks great and functions smoothly if your customers are going to be drawn in. Platforms like Shopify can be ideal for this, providing you with a secure and easy to use system that will enable you to get up and running in no time at all.

Ecommerce can be a tricky game, and it often takes quite some time for a site to develop into a major success. Of course, though, you can speed this process along, enabling your website to get customers from day one. It’s never worth being disappointed if you don’t get the results you want; you just need to do some learning and spend more time perfecting your online business.

Time To Buy A Smart Home?

Three focuses of my blog are Financial Literacy/Money, Home/Living Discussions and Technology. If you’re in the market for a home, you may want to consider a smart home. These homes have advantages over traditional homes. The following contributed post is entitled, Time To Buy A Smart Home?

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The world of sustainability is racing forwards and when it comes to making a decision to buy property, it’s vital to ensure that you’re indeed finding a property that aligns with your morals and views. For example, you may wish to purchase a green zoned property. The way in which we adapt our homes and the places that we choose to live, may offer us less or more opportunities.

Why choose a smart home?

A smart home goes from future to present. Today, when almost every home has a computer and a smartphone and technology is evolving, it is a mistake to design a home that is not at least part of it is a smart home. Changing the infrastructure is so complex that in fact a house that was not designed with infrastructure for a smart home will need a major change total electrical overhaul to comply with new standards and to be able to implement all the new tricks. However at some point, it is likely that you will have to make the shift and change a few aspects of your home to keep up to modern standards. So even if you are not making a smart home now, it is advisable to prepare a suitable infrastructure.

Smart electricity is a system for command and control of electrical systems through dedicated controllers with a user-friendly interface. It may be run purely through solar power too, which is a modern concept that is still in its infancy in many ways. A smart home allows deep control over all home systems, washing machine, air conditioner, heater, electric gate, alarm and almost everything else. Even temperature sensors! Imagine that you can program your home so that the stereo system will turn on in the morning and the boiler will turn on and off at another time – you can even have the washing machine set on a timer! With the right design of the system you can achieve almost anything that the imagination can think of.

Higher efficiency

When the house is run smart the savings will be noticeable every two months in the monthly bills. This is beyond raising the standard of living and quality of life in the home. Smart homes will greatly increase the value of your home too which is what makes this worth the investment. The market is saturated with multi-application and user-friendly smart electrical equipment but when done properly, you can look at a major increase in value. Precisely because of this it is important to note that a smart home should be well designed and not rushed in any way. Do not be tempted to entrust such an important subject without a professional who understands this designing your home and electrical systems. Some homes today are being pre-built to these high standards but most people are adapting their homes themselves. If you’re considering buying a smart home, be sure that it is everything that you need and still be sure to do independent checks.

Why Is It So Easy To Make Mistakes When Investing In Bitcoin?

Two key focuses of my blog are Financial Literacy/Money and Technology. An important part of understanding money is investing. Many investors now have their sites on Bitcoin and other cryptocurrencies as lucrative investments to get into. The following contributed post is entitled, Why Is It So Easy To Make Mistakes When Investing In Bitcoin?

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Making money is challenging. If it was easy, everyone would be rich. The key is to search for value, and to be decisive when you find it. Otherwise, the opportunity will slip from your fingers. With Bitcoin, investors feel as if they have the value they have been looking for their entire lives. After all, the price value is currently at record highs.

However, it’s easy to make mistakes with cryptocurrencies, and errors lead to losses. Why are mistakes so common? It’s because investors fail to research the entire fund before channelling their money into trades. When it comes to crypto, the smallest detail can have the biggest impacts.

The ecological element of Bitcoin is a prime example. Most people don’t understand how damaging the process is, and how mining for Bitcoin can lead to energy wastage that’s akin to the usage of nations. A single dollar of Bitcoin is equal to 17 megajoules of energy, which is an incredible amount.

Unfortunately, investors don’t recognise the links between Bitcoin’s carbon footprint and the effects it has on their chances of success. For instance, as mining for coins gets tougher, the need for specialist equipment is vital if you’re going to find enough currency to make it worth your while. And, expert tools don’t come cheap.

Thankfully, you can learn more about the ecological effects of cryptocurrencies via the infographic below. By doing that, you’ll be more aware of the potential drawbacks of investment opportunities, meaning you should take fewer risks and make fewer errors.


Designed by Arbtech ecological consultants

How To Improve Your Websites Speed

Three focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. In today’s digital age where so much business is conducted online, it’s critical that your website is working at optimal speeds. The following contributed post is entitled, How To Improve Your Websites Speed.

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Whether you use your site for business, blogs, pleasure or a combination of all, it is important to consider the customer’s journey.

Bet you’ve been there, on a different site and due to the lag and delays with loading or navigating their site, you moved on pretty sharpish to a competitors page. Of course, when it comes to your business or blog you don’t want that to happen. This then has a very real knock on effect and will impact on your site’s traffic, building and maintaining a good service and customer satisfaction. All of which you want to avoid. With that in mind, it is always worth reviewing your site when you review and consider changes to optimize your business.

So Why Is It Running Slow

The first step is to run a site speed test to see the actual speeds that are being applied to your site currently.

As to the whys, there could be many reasons. It could be due to some of the links, adverts and widgets you have running across the site. It could be due to the size of images and videos that you have uploaded, or the number of links included.

This does mean that there could be potentially a few aspects to change. But, it also gives you a lot of ways to improve those speeds by making some easy changes.

Here are some different ways to ensure that you maintain great internet and site speeds to stop this happening.

HTTP requests

Consider what is on each page within your site. Every script, image, table, link and so on that requires a HTTP request to load each time, will influence your upload times. There are developer tools available online to help you identify these.

So, once you know how many you have, it is always worthwhile seeing which ones are unnecessary and where possible removing them to enhance your site’s speed.

Dedicated Servers

Where this is something that confuses you or you struggle to find the time to manage your site to ensure it runs at optimal capacity, you can always consider dedicated servers. A dedicated server will give you an instant support system to help you perform better with a knowledgeable team or dedicated support manager in place. Also, not only will they be able to support the speed of your site, they will also have the ability to assist with security.

Check Your Hosting Site

When you were completing the initial set up, you may have opted for free or low cost hosting options to keep your start up costs low. Initially this offered a great stepping stone when getting set up. However, now that your business has grown and developed you’ll find that they need reviewing to support your current traffic needs.

With this you’ll have different options available, such as shared hostings, VPS hosting or a dedicated server.

Each option comes with their women individual benefits and costs so it is worth spending some time to review the options and your budget to allow you the best route forward.

How to Invest in New Machinery and Tech as a Business Owner

Three focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. Depending on the type of business you’re running, one of your most critical decisions will be investing in new machinery. The following contributed post is entitled, How to Invest in New Machinery and Tech as a Business Owner.

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Investing in new business technology is something that has to be done at various intervals in the lifespan of a business. Moving with the times and being up to date in order to remain productive and satisfy the needs of clients and customers are some of the most important things you can do as a business owner. We’re going to talk today about some of the most important things to consider when investing in new machinery and tech as a business owner, so find out more below.

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Consider Implementing Cloud Based Systems

First of all, you should think about the fundamental things that’ll serve your business well for a long time still to come. This is something that’s still too often overlooked, and one of the ways to address it is by creating a new cloud based computing system that can connect and streamline your business in a variety of ways. It will also help you to improve security and data management issues.

Weigh Up the Benefits of Renting Versus Buying

When you’re investing in new machinery or technology that you feel is capable of taking your business forward, it’s important to weigh up the costs and benefits of both renting and buying that stuff. If you’re not sure about your long-term usage of the tech or machinery, you should probably rent it at first as a trial and then invest in purchasing it later if you feel it’s necessary and beneficial to do so.

Aim to Boost Efficiency

Efficiency is one of the things you should certainly be looking to address as you take your business forward. When you create a more efficient approach to running your business with the help of the right day to day technology, it’ll help you to perform better and achieve more for customers and clients. That might be something that makes a big difference, so find the technology that makes that possible.

Invest in the Protection of Your Technology Too

As well as investing in the actual technology and machinery that your business needs, you might also want to think about how you can invest in the ways in which you can protect those things. Things like NEMA 6P Enclosures protect technology that’s in danger of coming into contact with water of freezing conditions, for example. These things need to be considered.

Keep an Eye on Future Needs and Changes

Keeping an eye on the future needs of your business and how the ways in which you make use of technology might change is another thing that’s important. If you want to make sure that you’ve always got one eye on the future, do so through your choices of technology.

There are lots of benefits that come with putting in place new technology systems and investing in new machinery. Just make sure that these kinds of things are put in place in a sustainable kind of way. There’s a lot that can go wrong and many mistakes that can be made if you’re not careful.

The Technological Shift in the World of Finance

Two focuses of my blog are Financial Literacy/Money and Technology. As our world gets steadily more digital, we may be moving away from mainstays which we assumed would always be there like physical paper money and coinage. Other innovations are on the horizon as well. The following guest post is entitled, The Technological Shift in the World of Finance.

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For a long time, the only way people could transact money is through commercial banks. They would need to go to the location personally, fill up forms, and wait for the teller to call them forward. All the transactions were done over the counter until automated teller machines (ATM) came into the picture.

With the rise of ATMs, making basic transactions such as withdrawing and depositing money no longer had to be done over the counter. People could access their money easily through debit cards, and sometimes, they can opt to use those cards in place of money itself.

Establishments and businesses have adapted to this change to accommodate payments through cards instead of cash. Then, newer forms of cashless transaction methods were introduced through mobile payment platforms, online banking, and other technologies in the finance industry.

Online Banking

Gone are the days when people depended solely on brick-and-mortar banks, especially not with online banking that can be accessed through mobile devices. Most, if not all, of the traditional banks have now gone online through various mobile applications and websites.

This digital transformation has allowed customers to track their expenses, pay their bills, transfer money between accounts, and do other activities with a few mere taps on their phones. Online banking is a welcome change compared to the need to travel and transact with tellers physically.

Through the applications, people can apply for loans, make deposits, or open accounts without going through the complex processes in person. Although there is still a need for physical branches for those who have no access to mobile devices or an internet connection, online banking can very soon be the preferred method of transacting.

Digital Lending

Applying for bank loans for business and other purposes is time-consuming. This is because traditional banks can take an average of three to five weeks to decide the credibility of the borrower, depending on their credit score and documents.

After the decision has been made, it can take up to three months to actually cash out the loan so that it can be used for whatever purpose the borrower needs. These two processes alone can already cost the borrower more than four months in total, which feels like forever in the rather instantaneous way that people are now accustomed to.

To resolve this problematic time-factor, leading banks worldwide are looking towards digital lending to cut down the total processing time to one day, at the maximum. This includes the approval and cashing aspects that usually took months before being processed.

These are made possible through different technologies such as automation of processes, using credit scoring platforms, and fraud detection tools that can easily eliminate deceitful borrowers. With processes made so much easier, business owners should have no trouble getting loans through lending.

Mobile Wallets

Banks aren’t the only ones going digital. With mobile wallets, even the need for physical credit or debit cards is rendered unnecessary because people can transact with establishments through an application on their smartphones.

Anyone can download an app and open an account through a mobile wallet, which further eliminates the worrisome credit scores typically associated with banks. Mobile wallet users can pay their bills, transfer money to others, purchase products, and do almost any other financial transaction.

Mobile wallets are becoming the preferred method for cashless transactions that can contribute to green initiatives. This is because going cashless can eliminate carbon footprints and paper trails that come with printing receipts and bills.

Most establishments that can accommodate such payment methods have adapted by investing in mobile point-of-sale (POS) systems or terminals in place of cash registers. The introduction of mobile POS systems is beneficial to businesses because it eliminates the need for physical checkout counters.

These aren’t the only technological innovations in the finance industry. Artificial intelligence technologies are being used to detect fraudulent activities through complex algorithms in both banks and credit card companies.

Digital currencies, or cryptocurrencies, that exist completely online are growing in popularity by the day and are being exchanged like stocks or foreign currencies in the global market. These currencies are made possible through blockchain technology, which is basically digital ledger systems.

With all the advancements in technology every day, it would be foolish to think that it can end at some point. There is no such thing as an end in technology because people will always find more flaws in the existing technologies and develop better solutions to these flaws. It’s a never-ending cycle that can benefit the whole world in the process.