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E-BIZ: eFinance: End of the Banks?
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eFinance: End of the Banks?
By Rose Salas

BT 201909 e biz 01When we talk about money, you will agree that privacy and security are people’s first concerns. All of us care about our finances. Whether spending it for a simple thing that we buy from the market, or that personal stuff you buy in the grocery or online shop, taking control over your budget, saving, and any other money-related activities are 200% IMPORTANT. Presently, eFinance is fast and efficient when making banking transactions online.
 

当我们谈论钱财时,隐私和安全是人们首先关注的问题。所有人都关心自己的财务状况。无论是从市场上购买商品,还是在杂货店或网上商店购物,这些与金钱相关的活动都是200%重要的。电子金融是金融业在电子信息技术快速发展阶段的必然产物。
 

Banks, including its retail types that have evolved over the years, provided consumers with financial management and services that improved the lives of people. From their first career goals up to their family’s wealth management, banks became a solidified partner in establishing a comfortable and convenient living for many. Think about the time when you first received your salary from your very first job - whether you received it in cash, a pay check, or deposited money in your ATM account - the activities to get this money in your pocket all went through the cycle of financing or banking.
 

银行为消费者提供了改善人们生活的财务管理和服务。银行成为了许多人建立舒适和便利生活的坚实合作伙伴。

BT 201909 e biz 02The success of banking business paved the way to the inception of different financial institutions and several corporations. Because of this, people were given options to choose and decide where they would entrust their money. These numerous options gave the people an overview and later on helped them determine how they can go about their loans, saving money, investing, and payments of services. Every day, hundreds or thousands of transactions happen inside a bank. The growing population and lifestyle improvement are factors that made traditional banking tiring and time-consuming for many.
 

每天银行内发生数百或数千笔交易。不断增长的人口和生活方式的改善是导致许多人对传统银行业感到疲惫和耗费时间的因素。
 

In early 1980, the idea of online banking has been introduced. Phone banking and internet banking became a supplemental effort to extend the service to consumers. However, due to inconvenience and undeveloped structures or process, people are still apprehensive about trying the services. As years passed by, Internet technology swiftly changed the lifestyle of people. For example, when BPO services were established in different countries, where graveyard schedules or work shifts became inevitable, consumers had difficulty accessing bank services after service hours. Another thing, banks were not only limited to depositing, encashment or account opening/closing activities; but became affiliates and partners for the payment of utility services of households.
 

20世纪80年代,出现了自助银行,有了ATM机,到了90年代又出现了网上银行,这是人们第一次不用到银行网点就可以享受到银行的服务。随着时代的发展,互联网技术迅速改变了人们的生活方式。

BT 201909 e biz 05When the number of people going into the bank daily and making transactions became incontrollable and exhaustive, online banking services were encouraged to be availed. It was a huge success when consumers embraced and took advantage of the service because it decreased the long queue in bank counters and saved a lot of time for busy individuals, who cannot make time going to the banks. Consumers can now enrol their accounts via online service and make transactions, like payments and fund transfers, without physically going to the bank.
 

当消费者接受并使用网上银行服务时,这是巨大的成功,因为它减少了银行柜台的长队,为那些无法抽时间去银行的忙碌人士节省了大量时间。
 

Presently, eFinance, which is the provision of financial services using electronic communication, is changing the game. It is now under the umbrella of E-business that allows consumers to manage their money through the use of applications over the internet. These services are strikingly and substantially affecting the attitude and behaviour of people when it comes to money management.
 

目前,使用电子通信提供金融服务的电子金融正在改变世界。在资金管理方面,这些服务对人们的态度和行为产生了惊人的影响。
 

Why is eFinance set in the spotlight?
Let’s take a look at its advantages:

为什么电子金融成为众人瞩目的焦点?
让我们来看看它的优点:

BT 201909 e biz 03Go cashless and pay everything through apps

Forget about withdrawing your money from the bank and going to the merchant to buy or pay products or services directly. The best advantage of E-finance is its payment schemes that allow you to settle payments directly from the payment options available. This is total flexibility, since you can consolidate all your bills in one payment, transfer funds, purchase and pay with your debit or credit cards, link your bank account, and go cashless in almost all transactions. This will allow you to save time, money and effort, unlike when you have to travel or go where you need to pay or shop.
 

无需现金,通过应用程序支付所有费用

无需现金去商家直接购买或支付产品或服务。电子金融的最大优势是其支付方案允许您直接从可用的支付方式结算付款。使您节省时间,金钱和精力。

BT 201909 e biz 06Simple, user-friendly and easy operation

Setting up an account and navigating through the application is easy and hassle-free. FAQ page typically answers all questions with all the pertinent information one may need. Tutorial videos are available, and step-by-step guidelines are fully provided so even the not-so-technical person can use the app.
 

简单,用户友好且易于操作

设置帐户并浏览应用程序非常简单,轻松。常见问题解答页面通常会回答所有问题,并提供所需的所有相关信息。

BT 201909 e biz 0924/7 Operation

You can make transactions anytime, anywhere even on holidays! This is total convenience and can be done as long as you are connected to the internet.
 

全天候运营

即使在假期,您也可以随时随地进行交易!

BT 201909 e biz 08Practical and convenient way of monitoring expenses

Because online transactions have recorded history, one can review and take control of his/her expenses. You can skip long queues when making phone calls to your bank, or there’ll be no need to write down and track your spending as it is automatically recorded on your account.
 

实用且便捷的监控费用和资金流量的方式

您可以在拨打银行电话时跳过长队,或者无需记下并跟踪您的支出,因为它会自动记录在您的帐户中。
 

Low Transaction Fees

Since eFinance aims to give value to customers, the transaction fees are way lower than the regular bank or transaction fees when paying in some terminals.

BT 201909 e biz 07低费率

交易费用低于常规银行交易费用。

With eFinance, the question, “Is it the end of the banks?” is now echoing. However, though there are many advantages present, there are still disadvantages that are being reviewed and examined. For example, the privacy and security of the account holder must be shielded so hackers will not have a chance to steal any information and be victims of frauds. There are also restrictions on the amount an account holder can release or use per day. Electronic payment systems do not work centrally and still need improvement to make it flexible for all merchant’s operations. Lastly, since it is internet dependent, an account holder must have a data connection on their mobile phones and Wi-Fi or wired connections at home.

BT 201909 e biz 06Looking at the pros and cons, the advantages still outweigh the disadvantages. eFinance is gaining a golden opportunity to change the traditional way of banking. At the moment, banks are still the most secured way of managing all kinds of transactions. Let’s see in the next coming years how e-Finance will eliminate banks’ services!
 

电子金融,“是银行的终结吗?”,然而,尽管存在许多优点,但仍有缺憾。例如,必须保护帐户持有人的隐私和安全,以便黑客不会有机会窃取任何信息。优势仍然大于劣势。目前,银行仍然是管理各种交易最安全的方式。让我们期待未来几年电子金融将逐步取代银行服务!

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