Building a Career in Digital Finance Post COVID-19

Post a Comment

Digital Finance

 


This topic is an especially important topic of recent time for the professionals of the finance field. The COVID-19 has changed the scenario of the world, so should also accept, and adopt these changes in our life for sake of survival, before starting the main topic, it is better to understand about the Digital finance and Then the Digital Financial Services. So, let us understand the Digital Financing Services (DFS) step by step.

What is Digital Finance?

Digital finance can simply define as the management of funds online or through digital media in other words we can say that digital finance can be defined as finance without meeting with people. This is also a source of job creation.  The disadvantage of this service is that small business do not have access to it.

What is the Digital Financing Services (DFS)?

It can be simply defined as the companies provide financial services to the companies or even to individuals at their doorsteps. The buyers of the financial services are not required to go to the bank or any other services providers, they can get done everything at their doorsteps means they can avail of every service online. There is some terminology that is used in digital financial services. Such DFS refers to Digital Financial Services, we are already discussing the topic. Fintech refers to the financial institutions and banks who are using the digital services, A1 and Machine learning this is also a system of users of digital financial services by the organizations detect the frauds or the fraudulent activities in the digital financial services (DFS). Online budgeting tools these tools help firms in the preparation of online budgets. Digital Valets. Digital payment the digital payment means the payment made through the internet. Mobile Banking banks provide the apps through which we can make all transactions including funds transfers, utility bills payments Etc. Mobile Money the banks or relevant institutions that provide financial services through their Mobile banking is known as mobile money. are used in the Digital Financial Services (DFS).

Job Market in Digital Financial Services.

After the wave of COVID-19, unemployment has been increased internationally, so job market competition has been increased. Similarly, it creates opportunities in different ways.   The financial markets are shifting towards Digital financing services (DFS). People want to the financial services online; they do not want to visit banks or any other financial service institution. After COVID-19 the way of working was immediately changed. It created new challenges for the business community, the firms were forced by law that they should compel their employees to work from home. This sudden situation created crises in businesses.

Now onwards for the field of Finance, it becomes mandatory that the job aspirant should be well educated of internet and specifically well trained on Digital Financial Services (DFS), the basic terms and their usage, so it is recommended for the Future Finance Professionals and the existing finance professionals that they should make themselves updated about the future job market challenges. Because these days now it becomes mandatory for us that we should know this field. No doubt this technology brings an opportunity for youth and creates hurdles and problems for the senior finance professionals who have very low knowledge of the internet and as well as low knowledge about the Digital Financial Services (DFS). There are also so many disadvantages of this modern technology including the following issues.

 The Security Risk

The security risk the biggest advantage from the whole disadvantages of the technology, there are big security risks hackers can hack your information and get excess. These issues are common these days.

The Issue in Technology (Link Down)

This is also a big disadvantage of the technology, sometimes we need to make an urgent transaction but due to failure of technology, we cannot get it done, mostly we get the message that we are unable to process your transaction due to link down.

Lower the Human Resources

This technology has lowered employment from all over the world, everything become automated the banks has also reduced the employment globally. The risk of Capitalism is increasing day by day. It means the money will belong to exceptionally low percent people of the world and others who can bear hunger. This is a big risk of humanitarian crises.  

Related Posts

Post a Comment

Subscribe Our Newsletter