Why Your Smartphone is a Bank, Trading Hub and Much More

Technology continues to advance at a rapid pace and now, some of the technology that we use would have been unthinkable only a few years ago. The iPhone is a classic example of something that would have been unimaginable at the turn of the 21st century, but now it feels as though everyone knows at least someone who has one. Apple recently unveiled its newest operating software: iOS 7.1 and, although it was plagued by issues, it has once again shown us just how far technology has come over the past decade. But, your phone also has so much more. From a bank to a trading hub, it can do almost anything:

A Place for Everyday Chores

There was a time when checking the morning news involved getting up, going to the shop and buying a newspaper. Now, however, this can be done from the comfort of your own bed on your smartphone. In comparison to what most phones can do, simply checking the news and finding out the football score is the tip of the iceberg. The world is your oyster with a smartphone, and it can act as everything from a bank to a trading hub.

As a result, the humble iPhone is now central to our everyday lives. No matter whether you want to play temple run on the train to work or check your emails before you drift off to sleep, it seems as though there’s nothing it can’t help you with. As part of this, businesses have become increasingly technology savvy, generating apps that their customers can use to make their business appear friendlier. Nowhere is this truer than in the financial sector.

Banks, Trading Hubs and Stock Watchers

Only a decade ago, if you worked full time, you struggled to get to a bank (especially as many didn’t open on weekends). This was an understandable pain; especially if you only wanted to transfer funds form one account to another. Now, however, thanks to smartphone technology, the process is simple. You simply download your bank’s app and enter your details to access your accounts and transfer the money. What could be simpler?

Taking the lead from banks, and once safety was proven; traders and brokers also leapt at the possibility of developing a mobile app, and now, those with an online trading account can usually use their mobile phone to place their trades. Whereas most traders used to be chained to their desks at work or offices at home during the early hours, they’re now able to trade no matter where they are, freeing them from their shackles. This has made trading simple and accessible for all members of the public, and they have taken to it in their droves.

No matter whether you prefer stocks, shares, forex or precious metals, there’s an app for you. Only 10-20 years ago we would have assumed that trading was only for rich people in ivory towers but now, the smartphone revolution has made almost anything possible. What will they think of next?

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Osho is Tech blogger. He contributes to the Blogging, Gadgets, Social Media and Tech News section on TecheHow.