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Banking and Finance: Gone are those days when there used to big fat manual ledgers, which were tallied by the staffs of the banks day in and day out and the pages of accounting entries seem to be never ending!With the onset of financial technology and various other related disciplines like banking technology, the vital aspects of banking like accounting, bookkeeping, depreciation calculation, loans management, asset management, so on and so forth.
The importance of technology is a wide subject because the daily lives of the human beings have undergone a big evolution with every phase of life getting transformed due to technology.
However, the following few sectors can be said to be the active participants in this era of technology: Communication: This is one of the major facets of present-day lives, which has metamorphosed like anything since the inception of technology but the massive changes that have occurred and are occurring of late are simply unparalleled.
This is just a snapshot of the immense role of technology in today’s regular lives of the people as the discussion is vast and knows no bounds.
Every single second today is coming out with some new technology that is getting reflected in the lives of the all and sundry thereby leading to the betterment and beautification of mankind.
Along with the office operations, the customers of the banks are also benefited with the technological touches of banking as they are no longer standing in queues for hours because they have got the facility of internet banking, mobile banking, ATM cards, credit cards, cheque clearing, settlements, foreign exchange and several other utilities through which they can transfer funds to third parties, make bill payments, merchant payments, book tickets, pay fees, do shopping and win the world in short!
Technology In Today'S World Essay
There is another side of the finance e domain dealing with the stock exchange, mutual funds, capital market, money market, treasury and much more that have also undergone dynamic changes due to technology.
Perhaps the language of today’s world totalizes in one word, and that is known as Technology.
This is one domain that is revolutionizing every single sphere of the lives nowadays with each passing day, and the ball of growth in technology keeps rolling still.
The telecommunication sphere has become much more seamless and simplified due to technological advancements and today, the world is known as a global village or rather a virtual village.
This is mainly due to digitalization, which is another prominent part of technology.