Do you have proper control over your finance? While the avidity of money and living a life of dreams is constant, the strings attached to attaining those fictitious desires are intricate. The array of investment options, the high risk of being prone to emergencies, losses, and the inability to exert control over finance without expert opinions, dealing with a limited transaction facility in the saving bank account, etc., make the subject even more complex.
The primary reason behind the unwillingness of individuals toward managing personal and business finances in the organized manner is the hassles involved in maintaining separate platforms for accounting, such as current and saving account or personal or business accounts which only adds up to the ongoing confusion.
However, with the advent of technology, there has been a rise in several digital applications that cater to the financial needs of individuals by offering convenience and efficiency through their features, such as instant account opening, approving loan online, online investment & trading etc. In addition, some applications go beyond the ordinary and provide premium banking services that only privileged customers experience.
Thus, they shelter and facilitate all the integral segments that revolve around finance, be it providing credit or debit card payment apps and other UPI payment options through the medium of banking and an investment platform. It still begs the question, ‘How do they help us take control of our finances?’
Digital Applications & Finance
Digital applications have paved the way for enhanced comprehension of one’s finance with their engaging dashboard and real-time updates. Ultimately, individuals can easily access and understand the entire cash flow picture within a given period. From attractive interest rates in savings accounts to personalized recommendations for investment, these applications have redefined the elements of convenience and personal finance management. A few helpful features that can help you shape your financial management are as follows.
1. All Under One Roof
Savings and investment accounts are the two strong pillars of achieving financial independence. However, often, these two aspects are separated into different platforms, which raises the difficulty level for an individual to manage and track these segments. Yet, with these applications, an individual can access and monitor everything with a single tap on the screen. The reports and analysis provided by these apps are equivalent to possessing a master key to all the doors of finance.
2. Investment, Automation, & Savings
Integrating one’s investment and savings account becomes a cakewalk for an individual to channel their funds into different segments and own a well-built portfolio. Furthermore, all the bill payments and recurring payments can be dealt with by opting for the feature of automated payments. These apps also give timely reminders that ensure you do not miss any of your payments. With the automation of payments, the possibility of having a penalty is avoided, ultimately inculcating the habit of being well-organized and responsible toward your finance.
3. Security
Security always makes it to the top of an individual’s list of concerns while dealing with finance. With a robust integration of encryption and advanced security measures, your funds are in safe hands. Several apps also go to an extra length and offer two-factor authentication, doubling the security level. Consequently, all your savings and investments are hidden behind an unbreakable vault.
Conclusion
While having a financial advisor to guide your finance is an ideal option, you can avail security and the same expertise by accessing these applications right from the comfort of your residence, just by a few taps on your smartphone, you can have your zero balance account open digitally. Be it savings, investments, or keeping track of your expenses, these banking apps have you covered from all directions.