How Is Technology Impacting the Financial Landscape?

Technology has disrupted various industries and is now transforming the financial sector. The traditional way of banking has moved online, with people conducting all activities through their computers or phones, making visiting a bank in person unnecessary. The financial industry has benefited from technology, providing faster and more efficient processes, such as chatbot features, that can help with customer service and support. AI technology has also been instrumental in preventing fraud as it can analyze numerous factors and detect patterns faster than humans can. Finally, blockchain technology has the potential to revolutionize financial institutions and help improve transparency and traceability of transactions.