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5 challenges with remote work & their solutions

5 challenges with remote work & their solutions

A pandemic hit us in March and we have been dealing with its unprecedented circumstances ever since. As a result, people started working from home, wearing masks, and refraining from social gatherings. However, these aren’t the only challenges that were faced. Below are 5 unique challenges with remote work and how they can be solved!

Cybersecurity and the increase in risks:

Working from home is a saving grace for a lot of jobs, but it comes with its security risks. Data is on the cloud and people no longer have access to their company’s secure servers. This leads to security risks being very similar to those of independent contractors. But if all of the employees in a firm do this, the security risks increase immensely and need to be controlled. This is where cybersecurity experts can help! Technology can help make softwares with added layers of protection. People can then access company data without risking the security of the documents. These layers of added protection can be VPNs or remote desktop platforms. They can be further enhanced to provide effective, secure platforms for people to work remotely.

Lack of secure work devices:

Employees have company laptops and tablets for their work from home needs. However, with most people having to work from home during the Covid-19 crisis, it is not feasible for firms to carry this out. Thus, many employees are using their own devices. This leads to a difficulty in documenting work and data usage. This documentation allows companies to track and recover data in case it is lost, stolen, or compromised. A simple way to solve this issue is by producing software that once installed, registers the device with the company. This will give it the surety of being documented if the data is compromised. Such softwares help solve the challenges with remote work in just a click!

Accessible Banking for everyone:

People deposit, invest, and exchange money at Banks. However, this only applies to people who can open up bank accounts or already have bank accounts. In today’s social distancing and remote working situations, many people lost their access to banks. Moreover, those who never had accounts are facing even higher levels of difficulty. Bill payments, transactions, and money transfers are difficult to conduct when social distancing policies are applied. In a crisis like this, Fintech can help! Applications that allow people to exchange their cash for liquid money can solve this issue. Fintech can help extend this to loans and credit cards. Services that allow people to get insurance plans and medications will go a long way.

Payments and transactions:

Cash transactions, the most basic form of transaction, are happening at a limited pace. People are staying at home and making use of cards to make online transactions. This prevents them from going outside their homes in a global pandemic. However, this also means a greater load on these payment methods. Complications and problems are bound to follow such an increased load. A go-to method for Fintech experts to solve this issue is to create new methods for transactions to occur through the internet. Companies would need more members in their software teams to help with the excess load. On the other hand, this could also be done in collaboration with banks or Fintech companies. These collaborations will need software engineers who are well-versed in the Fintech and banking world.

Gaper.io has a Fintech division dedicated to helping Banks and Fintech companies. Gaper helps them hire expert engineers who can create such softwares and platforms. These engineers can be hired to work remotely on specific projects or integrated into the already existing team. That way, Gaper is useful for Fintech founders, banks, and also SMEs.

Regulation and compliance that keeps things in check:

All online transactions or banking transactions have regulations surrounding them. This complexity makes it difficult for payment services to function without first ensuring that their platform is compliant. The need for money transfer and transaction services’ for compliance and regulation can be seen as an opportunity. The Fintech industry can provide softwares as a service to simplify the process. This would also streamline the regulations and compliance needed by these transactions and payments.