Anastasiya Onopriyenko.
The world around us is complex and changeable. We seem to be used to mobile communication, as the world is already flooded with new cool smartphones and other gadgets. Even 20 years ago, the Internet was something too strange for us, and today we can not imagine a day without social networks. We get used to most changes easily, but what about the thinhgs that has been unchanged for decades? This is especially true in the banking sector. The latest developments in this area are named with the buzzword “fintech”. It was fintech that helped to transfer the bank directly to our smartphone, simplified and facilitated some banking operations, including money transfers, lending and payment of utilities.
There are a number of stereotypes and warnings associated with this issue. In particular, I want to consider the most common that I have heard from acquaintances and colleagues. So let’s find out whether we are threatened by a “beast” named fintech, or is it already fully domesticated?
1) “We have already come up with the best. Why invent a bicycle? ” Of course, it makes sense to “invent a bike” when it’s a mechanism with the latest turbo engine. I can’t deny that time-tested works best. But if so, we’d still be queuing at the bank for salaries and utilities. ” Now you can get a lot of banking services via a smartphone without getting up from the couch.
2) “I’m not going to change my habits!”. Typical conservatism and everybody has the right to think in such way. It is very difficult to convince older people and retirees in all the benefits of new banking technologies, because for many of them it is hard to use all these technology changes. But the matter is that technological changes will not wait and still in the future we will have to adapt. And the sooner we open up to changes, the easier it will be to accept them.
3) “These are new fraudulent schemes! In this way, criminals steal our data, and then money! ” Of course, cybersecurity is not reliable enough, but that does not mean that it is so easy to steal our data. On the one side, the state does everything possible to protect your rights and personal data. On the other side, being re conscious and knowledgeable we have to understand that basic financial literacy helps a lot to protect our money assets in the Internet environment. It’s important to use only verified sites and remember that “free cheese is only in a mousetrap.”
It is clear that the transition from visible technologies to those that cannot be grasped is very difficult and painful. In my opinion, despite all the imperfections of legal protection and restrictions on access to fintech, you should not be afraid of it. The aim of any development is to simplify life and automate processes. The development of financial technologies is one of the priority areas of Ukraine’s economy. By investing in its further development the state tries to minimize the negative aspects of such technologies, protect people’s rights and broaden the use of innovations.
As you can see, fintech is not a terrible “beast”, it is quite friendly and will not resist. I believe that in these matters people will be guided by reason, not by stereotypes and conjectures! Remember that positive change begins with changing our attitude to the situation.
The project is implemented by Chernihiv Polytechnic National University in cooperation with the Human Rights Foundation and the University of Tartu (Estonia). The project is funded by the Ministry of Foreign Affairs of the Republic of Estonia.
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