The 2020s are going to be an era of FinTech revolution all around the world. One only needs to refer to some basic statistics online to realize that fact. Covid-19 is no doubt one of the biggest tragedies of our generation, but all crises’ resolutions bring change, and this time at least, I think we all can agree the change is fundamental, permanent, and comparatively flexible in terms of our professional lives.
No one is going to give up work-from-home altogether once we are done with the whole pandemic situation. The interesting thing is it’s not like no one ever thought people would ever have the option of remote jobs. Yes, it was a fleeting fantasy for most of us (working at home) but were we really that surprised when we found out that working from home was a perfectly viable alternative and, in some cases, an even better option? No, I don’t think so. Therefore, get on Freelancer, Flexjobs, Fiverr, or any other freelancing site and find yourself a remote job ASAP (if you haven’t already) so that you can get paid even if you only want to freelance.
However, going into 2021, we definitely will be seeing innovations and evolving technologies in FinTech that will catch us by surprise. The online era has changed everything, from conferencing in conference rooms, we are now online conferencing in our home offices through zoom. Though, for now, we will be talking about a relatively recent phenomenon: remote banking. A technology that is set to disrupt $4.7 trillion worth of global financial services (International Trade Administration, USA). And this is only the beginning. Digital-only banks have been popping up all over the world, contesting for market share.
They are highly appealing to customers because they have no physical offices (basically, work from anywhere) and hence no personnel costs. Not only do people find everything at arm’s length exceptionally convenient, but they’re also all for lower fees and higher interest rates on deposits. Digital-only banks are leveraging the cloud to essentially reduce capital expenditures and gain flexibility over traditional banks with their on-premises infrastructure. This initiative will eventually overtake the capital markets.
However, at this point when working remotely/work from home jobs are the new norm, digital-only banks, despite having immense potential, are still in a niche market, and there are a number of reasons for that. In an age where financial scam is the leading internet crime worldwide, it is fair to say that consumers are concerned about the security of their financial information that’s only going to be stored online. And rightly so, since Symantec, a leader in cybersecurity, stated that one major bank’s cybersecurity team would be larger than the total headcount of all the digital-only banks combined. This would make risk management.
While no physical presence has a big convenience factor, it also means that in case of disagreement or confusion, or fraud, a consumer cannot just commute to the nearest branch and resolve the matter in person. This not only makes wealth management a tedious task but also creates the ideology of a digital nomad.
Traditional banking usually has disruptive online services, and consumers would quickly lend that misperception to digital-only banks as well since they only exist in the digital realm and not to face. In order to gain a foothold in the market, digital-only banks need to create and explore different business models. The only way to counter that is the need for digital banks to provide all the financial services that traditional banks offer as well as actively promote the superiority of their customer experience. Being top-notch in their applications and support system is a given, of course. The other alternative they have is coexistence. Moreover, they need to have better call centers in order to tend to their customer’s queries more effectively. Doing so will also help create job opportunities for job seekers who are looking for some legitimate work from home opportunities.
Speaking of work-from-home jobs, some people have the misconception of working remotely is an easy task. Well, it’s not. especially in the starting when you have no clue what to do. for starters, you will b needing a computer and a good internet connection, an office space to work in n order to avoid distractions. Moreover, if you need flexible work hours then maybe try looking for an independent contractor that will give you a part-time home job where you get to make money and have an easy work life too.
Here are some work from home positions if you want to earn some extra money:
There are many other Job categories where employers hire employees who want to make money from home. Get on your job search and you will find many legitimate work-from-home jobs. Some jobs are so easily done that you can even get a second one for extra income. There are a million ways to make money if you only start searching. Other than that if you own your own business, then you are set anyways. Work at home and earn legit money. What more could one want from life? But before choosing a job, do think about what would be the best work for you. Homeworkers often make the mistake of choosing a job too quickly before even thinking if they will enjoy doing that. But one of the best working solutions is to make sure if you would enjoy the specific home-based job.
Digital-only banks in partnership with traditional banks will help cover all aspects of customer experience and give customers the option to choose based on their preferences. However, it is important to note that traditional banks looking to stay young with the times need to have separate branding for their digital-only arm for enough differentiation to attract consumers.
While remote work has been blooming, “remote banking” has seen some stagnation in the form of meeting challenges, but it is still early stages, and there is ample time for the digital transformation to reach its peak. A salesforce quickly and effectively.
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