How have Technology and Innovation Changed the Way we Manage our Money Over Time

Are you tech-savvy when it comes to money?

When it comes to our financial way of life, technology, and innovation play an important role. As consumers, we rely on the current method of dealing with and managing our finances.

When I was younger, I had a pink piggy bank, and I get so excited about depositing any leftover money from my "baon" after school. Back then, every peso I put into my piggy bank gave me that happy feeling.

On rare occasions such as Christmas "Pamasko" and birthday money was one of the things I always look forward to. That's when I get to have more piggy bank savings. My mindset was to keep and save as many as I could so that I can buy things for myself like scented stationaries, stickers, and hair accessories which were the popular things to collect during that time- proud '80s kid here! ;) 

This was the easiest and fastest way for a grade-school student to save money at that time.  

Forty years ago, saving up money through banking was limited. Opening a bank account back in the day was known to be a hassle thing to do. Submitting documents and other requirements needed to open an account can be tedious. 

This also applies to the communities in far-flung areas, where knowledge about saving up money through banking was limited. 

Photo by Gaurav Bagdi from Pexels

However, in today's trend and innovation, when it comes to money transactions, you don't have to leave the house to pay bills, send and receive money, or conduct bank transactions; you can do the majority of these with a few clicks and taps on your mobile devices, laptops, and computers. 

One critical aspect of managing your finances is knowing how to use a bank to conduct all of these transactions. Financial literacy can be learned through technology and innovation. There are numerous online resources available to help you decide on the best bank for you. 

For a consumer like us, we want a financial institution that can provide us with what we need, less hassle, and with 24/7 easy access, the one who can find ways for us- just like BDO, We Find Ways!

BDO's creative approach to banking has allowed it to remain at the forefront and offer its clients the most modern and effective financial services as the world gets more and more digital. 

BDO has embraced innovation and technology to expand its reach and advance financial literacy and inclusion. By providing access to services and education via digital platforms, technology has the potential to break down barriers to financial inclusion. 

What is financial inclusion? It means that individuals and businesses can access helpful and inexpensive financial services and goods that satisfy their needs - transactions, payments, savings, credit, and insurance - delivered responsibly and sustainably. 

I now rely on the latest technology to help me save money that can provide the most convenient means of handling, processing, and keeping cash. For real-time digital bank transactions, bill payments utilizing an electronic wallet, and service transaction payments, for these, I connect to my BDO Online Banking account and I am good to go!

Finally, technology and innovation are inextricably linked; they play a significant role in our individual and global financial stability.  

You can check out BDO's social media channels or navigate through their website www.bdo.com.ph, and get your baseline information on the services for your personal or business needs.