5 Benefits of Financial Technology

Financial technology (also referred to as FinTech) is the use of innovative technology to deliver a wide range of financial products and services. It is intended to facilitate the multi-channel, convenient and fast payment experience for the consumer. This type of technology is effective in many different business segments, such as mobile payments, investment management, money transfer, fund-raising and lending.The rapid growth of financial technology has been very beneficial for consumers worldwide, such as the ability to serve customers that were not previously attended to, a reduction in costs, and an increase in competition.Let’s take a look at a few of the benefits related to financial technology:Better payment systems – this type of technology can make a business more accurate and efficient at issuing invoices and collecting payment. Also, the more professional service will help to improve customer relations which can increase the likelihood of them returning as a repeat buyer.Rate of approval – many small business ventures are starting to use the alternative lenders like those involved in financial technology because it has the potential to increase accessibility and speed up the rate of approval for finance. In many situations the application process and time to receive the capital can be completed within a period of 24 hours.Greater convenience – the companies involved in financial technology make full use of mobile connectivity. This can significantly increase the number of people who can access this type of service and also increase the efficiency and convenience of transactions. With consumers given the option to use smartphones and tablets to manage their finances, it is possible for a business to streamline its service and provide a better all-round customer experience.Efficient advice – many of the latest systems rely on robo-advice to give people guidance on their finances. This can be a very quick and low-cost option to get useful information on investments, as well as to limit a person’s exposure to risk. However, this type of service won’t be able to give the most in-depth advice that would come from a professional adviser.Advanced security – Using the latest security methods is necessary to ensure more people are confident in using this type of financial service. The need to harness the latest mobile technologies has resulted in a major investment in security to ensure customer data is kept safe. A few of the latest security options used by those in this sector include biometric data, tokenization and encryption.

The Technology Behind an Answering Service and the Advantages of Automated Answering Services

In the past few years, telephone answering service tools have developed tremendously, thanks to the never-ending innovations in technology. Many components of these communication machines can now be accessed virtually. Some of the more common examples include devices such as inbound telephone line or electronic appliances that are as complex as a computer system. The costs of these tools vary depending on their capabilities. Many modern answering machines are now built with complex switchboards, PABX systems, voicemail equipment, automatic call distributor routing technology, routing protocols based on skills and many others.If you are interested in integrating an answering service into your business, the technology and features that you need to consider should be based on your needs. You also have to ensure what kind of customers you will be accommodating. One good example is a firm that delivers different types of home services. This type of customer will only require basic dispatch answering machines. On the other hand, e-commerce businesses may require high-end features such as online processing, real-time chat, and other customer service functions.Different Types of Answering Technology and ServicesThe principle behind the answering technology is not entirely new. Even before, companies have hired individuals and companies offering phone answering technology and services. Generally, their services included answering and screening calls, providing information to callers, transmitting messages, taking orders, scheduling appointments and technical support. Because this type of service has long been running for decades, the technology and equipment utilized continue to develop as business needs are transformed.The most common answering systems include:• Automatic answering system that is usually used by call centers to mechanically answer an incoming call.• Live or real time where real people are hired to provide real-time answers to phone calls such as in the call center.• Online or the Internet-based answering machines.Advantages of Using Automated Answering ServiceThe automatic answering machine gives users the technology to let callers leave voice messages. It can also be used to collect data based on the caller’s response to phone prompts. You usually experience this kind of service when you hear instructions on the phone to press certain buttons that correspond to specific services or information. This system is ideal for customers who just require general information. Most importantly, this system is cheaper to maintain.There are a lot of benefits when using automated answering machines. It can efficiently function simultaneously with real time live phone support. An automatic answering system speeds up the communication process between owner and client. This technology allows businesses to handle large number of calls and messages. In addition, automatic answering systems broaden the forms of communication as it is packed with features such as call forwarding.Today, customers use of a lot of communication mediums including phone, e-mail, web chat, and video chat. An automatic answering system is a great tool that puts together different communication formats into one practical system. Automated answering service is ideal for businesses offering unimpeded services any time of the day and any day of the week.