There have been many new trends observed in the world of finance and banking industry so far. The banks and all companies on the Wall Street have been actively working on the development of robo-advisers that provide automatic financial responses to the users. The main aim of doing so has been to target a substantial cut down in financial expenditure costs.
Official Statements Are Coming on Record
There have been many official statements from various sources that have been coming forward since the day of the rules beings implemented. This also brought ahead an official statement from Gera who is the senior managing director at Accenture financial services.
Personalized Experiences Cited by Gera
In official statement Gera says that ‘Google, Amazon and Facebook’ are now becoming a standard of personalization and customer experience for the people all around. The customers have started to look at banks and have finally seen the gaps starting to fade – which has been very prevalent so far.
All Stations New to The Zone
It is very interesting to observe at this point that none of the above mentioned stations or platforms are currently offering any kind of compensation, insurance or ban refunds on its products or services to the customers. Despite this, Google and Facebook have only recently allowed its subscribed users to proceed with money transactions online with anyone who is in their contact list. Amazon in addition to this service also offers customers the chance to apply and claim smaller loans from servers for a limited time period.
Applicability of Law
Another point that has been a subject of speculation is whether this law has only been applied by the online platforms in certain countries or this is a valid for users all around the world. Currently, there are many surveys that are being conducted in this respect to verify the applicability of the new rule.
Response from Users
The customers or users, on the other hand, have been feeling much delightful and happy about this change. They see banking with these platforms as a bridge that will cover up the distance between the users and the traditional banks.
The officials of all the platforms i.e. Google, Amazon, Facebook as well as Microsoft have been approached for further comment on this matter. However, no responses have been garnered from any source up till now.