Information and communication technologies have helped the financial sector in several ways.
Firstly, thanks to information and communication technologies, the operating costs for the financial sector have been greatly reduced. Most of the operations are automated, and this brings about a reduction in operating costs. For instance, you have a scheme where customers who’d have been transacting through paper checks now transacting through debit cards. One such debit card is the Walmart money card – and there are sites where you can find Walmartmoneycard review articles, where the procedures for applying for Walmartmoneycard sticker online are also described.
Secondly, thanks to information and communication technologies, the catchment population from which the financial sector actors can get customers has been widened.
Thirdly, thanks to information and communication technologies, accounting has become easier for the financial sector actors. This is because most transactions are carried out on computers, which are then programmed to do the accounting in real time as the transactions are carried out, reducing the need for human interventions in the accounting processes.
Of course, information and communication technologies have also brought certain risks to the financial sector actors, but those are risks that can be managed. On the whole, the advantages outweigh the disadvantages.