Digital Finance
Digital finance refers to delivering traditional financial services with digital technologies, such as computers, tablets, and smartphones. Digital finance provides access to financial services to underserved communities that lack physical infrastructure such as brick-and-mortar banks. Customers can carry out services over the internet instead of visiting a physical location. Digital finance, therefore, reaches more people than traditional financial services, thus helping service providers target new markets with modern technologies.
What Small and Midsize Businesses Need to Know About Digital Finance
SMBs can use digital finance wherever they are in the world, helping them establish themselves, grow, and compete with larger companies. For example, a small business can pay bills, manage payroll, prep taxes, and handle cash flow using digital technologies.
Related terms
- Tokenization
- ROIT (Return on Information Technology)
- SAC (Subscriber Acquisition Cost)
- Energy Trading and Risk Management (ETRM)
- Chief Revenue Officer (CRO)
- Core Banking System
- Record to Report (R2R)
- Fintech
- Financial Management System (FMS)
- Business Capability Modeling
- Capital Allocation
- Compound Annual Growth Rate (CAGR)
- Net Present Value
- Hedge Fund
- Gateway
- Selling General and Administrative (SG&A) Expenses
- ROE (Return on Equity)
- Financial Planning and Analysis (FP&A)
- Dollar-Cost Averaging (DCA)
- Procure-to-pay Solution
