The finance industry is one that is constantly going through many great advancements and further innovations. But its recent history is one that is, frankly, unparalleled anywhere else in the world. By nature, finance has always been a data-driven industry, and that has not changed. Instead, what has changed is the reality that, like the rest of the world, finance has had to undergo some drastic transformations in recent times, with one of the most influential and important being the rise and ongoing further advancement of widespread digitalisation in the sector. It has resulted in monumental changes, in what feels to many like no time at all, and the changes just keep on coming. Finance is one of the core industries that is most important the world over, and now it is getting the revitalisation that is going to make it even stronger. In short, this is the revelation that the global finance sector has been so desperate for, for so long now. And it is just only beginning.
The future of finance is decidedly digitalised, that much is certain. But what many people underestimate is the immense work that it took to get to this point. The history of the finance industry is one that is peppered with exciting evolutions and structured solutions based on data and intel. While this has not changed, the grandeur of the innovations has grown exponentially, and it continues to even today (in fact, it likely will always continue). The finance industry of the past was manually-based, and this made much of the processes and systems within the sector tedious and time-consuming. Regardless of how bland some of the processes and systems may have been, they are still necessary. So, they were carried out because they had to be. Recent history saw a drastic change when technological advancement was introduced to the sector in massive ways, and now finance is more productive and time-efficient than ever.
When thinking of the ways that recent history has transformed the finance industry, it all begins (and mostly ends) with technological influence. There are multiple innovations, and all of them have brought their own excitement and prowess. Perhaps one of the most (if not the most) exciting of them all is the rise of online expansion in the sector. The surge of the online landscape is worldwide, but in the finance industry it has made basic financial processes and systems easier than ever. From paying bills and checking and personally contributing to superannuation, to transferring funds from one account to the other and paying taxes and submitting tax returns, and everything in between, going online has effectively breathed new life into finance from the onset. Similarly, automation has been brought in a keen sense of convenience and efficiency that makes finance run much smoother all round.
These are just two of the technological innovations making waves in finance, but they are by far the two most positively effective. Taking the entire finance industry online is a work in progress, but even in its early stages it has made leaps and bounds, with innovations like this breaking ground and changing the landscape of finance forever. Whether it is looking online to find a calculator for gold from reDollar, or using a tax calculator to determine what one’s tax return is roughly expected to be (or anything in between, for that matter), the recent revitalisations in the finance industry spell the beginning of an exciting new chapter in the worldwide finance sector’s history. Whatever comes next is sure to be exhilarating and revolutionary, and it will only serve to elevate the field higher and higher, in all the best and brightest ways possible. This transition into finance’s next evolution is full of hope and promise of what is to come.
The modern world that surrounds us is one that is paved with good intentions and rapid digitalisation. Anywhere that one looks, digitalisation and technological prowess reign supreme. This is a world that we have built for ourselves, and so it should come as little to no surprise that it is entirely and without exception, immersive, in every sense of the word. The world as we know it becomes more digitally inclined with every ground-breaking innovation, every new day. In the finance industry, widespread automation and online expansion are the aim of the game in taking the next step in finance’s history to the next level. What we are seeing now is just a taste of what is yet to come for finance technology, but it is exciting and full of hope nonetheless. And if nothing else, this next step is only going to prove just how convenient, efficient, and innovative finance technology is, and how profoundly it can impact not only the global finance industry, but the world.