The remarkable evolution of the world of technology has had a huge impact on the way we lead our lives today. So much of what we do is affected in one way or another by technology, from the way we do business to the way we socialise. In fact, the world has changed so much in this way that we now take for granted the sort of functionality that would have been almost unthinkable only a generation or two ago.

Many of the most significant changes have come about as a result of online technology, with increasing numbers of people across the planet gaining access to the virtual world and the numerous benefits and advantages this brings.

A key area of change

One particular area that has experienced some of the most dramatic changes is the world of financial management. Banking today is almost unrecognisable to how it was just a decade or so ago, and even individuals who consider themselves to be particularly technophobic and resistant to change have found themselves caught up in this evolution as the financial services industry continues to adopt technology to drive an enhanced client experience.

Here are just a few ways in which technology has impacted on the world of finance:

  • Personal banking. Online banking is enormously popular, and with good reason. No longer do we have to wait for a bank or a helpline to open. We can log on at a time that suits us, wherever we happen to be in the world, and access information about our accounts, credit cards and other financial products. With the rising popularity of mobile technology, we are now able to pay bills, make transfers, arrange overdrafts and a whole host of other actions while we are on the move, and with nothing more than a smartphone.
  • Access to information. Technology has also made the world of financial services a lot more competitive. It is easier than ever for customers to shop around and make comparisons between different providers. It is not just about price either; the internet is full of platforms that enable people to post independent and impartial reviews, so potential customers are well placed to look beyond the advertising and get an honest insight into how a particular organisation actually operates. The ability to interact remotely also means customers are able to purchase products and services from organisations on the other side of the world, and not only those with a nearby branch.
  • Trading and investment. The world of trading stocks and shares used to seem prohibitively expensive, risky and complex to all but the wealthiest and most financially savvy individuals. Today, as the world of finance opens up and we have unprecedented access to information and products, more and more people are stepping into this world by using platforms such as ‘‘ . This is hardly surprising given the potentially huge scope for personal financial reward. Such specialist fields are more accessible than ever and, as a result, people are utilising them not only as a hobby but also as a part-time source of income. Activity like this is not something to enter into lightly, however. It is an inherently risky world, and the greatest rewards come from the ability to balance risks appropriately. The best way to achieve that is through the right research, and thanks to developments in technology, this is easier than ever given the sheer scale of information and guidance that is now available online.

Financial management of the future

It is difficult to predict with complete accuracy what the future holds in any field or industry, and this is especially true of the technological world, where exciting and innovative new developments seem to be released on an almost weekly basis. In fact, the pace of change is so astonishing that even a few years from now, we will probably have access to the sort of technology that today feels almost like science fiction.

One thing we can be fairly confident of, however, is that for the time being at least, technology will continue to play a key role in our lives as we look for increasingly innovative ways to help us achieve our ambitions quicker, cheaper and more efficiently. With that in mind, the financial world will most likely continue to open up to offer opportunities to more and more people. The only requirements are an ambition to manage finances as effectively as possible and the willingness to fully exploit technology in order to do so.