Digitization has significantly reshaped our relationship with money. The convergence of technology and finance has led to a transformative shift in how we perceive, access, and interact with money in various aspects of our lives – revolutionizing transactions. In a sense, the ability to shop, pay bills, and transfer funds across borders with unprecedented ease has redefined the entire concept of currency. But is all of it necessarily for the best?
Indeed, the rise of fintech companies and digital banking services has democratized financial services. Digital banking also empowers individuals to have greater control and understanding of their finances. Further, access to banking and financial tools – which was once exclusive to a select few – is now available to a broader population, allowing people to manage businesses from the safety and comfort of their homes.