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Is technology good or bad?

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@mgibson
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There is no industry where technology is not used. It is used in every sector whether it is banking, manufacturing, hospitality, aerospace, transport, telecommunication, agriculture, construction or any other industries. Technology makes your life easier in terms of many things. But I would like to discuss on financial transactions that you can easily make through android phone or computer. There are several fintech apps that help you transfer money from one bank to another bank account. Not only that you can also pay many types of bills using those apps. Prior this technological innovation, people had to visit their banks for making these transactions. But now you can do these things at your home. There is no need to visit banks unnecessarily. However, in some cases you may have to go to your bank.

In case of cash requirement, ATM is a good option rather than going to bank. Nowadays you can even do cash deposit at ATM. Overall, technology is good for us. What we've found so far shows that technology makes your life easier.

Now we will discuss its bad things also. Why I chose financial sector because I have experienced some technical problems in real life that I would like to share with you. Today I transferred some INR from wazirx exchange to my bank account using instant withdrawal mode. Under this transaction mode, the withdrawal amount is credited to bank account instantly. I never experienced any disruptions before, but today my withdrawal amount got delayed and was not credited to my bank account. I waited for ten minutes but the amount was not credited. Wazirx doesn’t support voice services. You can contact through email or get live support in telegram. It also has chat support but I don’t think there is any human to assist you. It seems a IVR chart support system.

I created a support ticket through email. They replied back but it was a system generated message. I waited for few hours but didn’t get any reply from their end. Now telegram was the only option to get live support. I installed telegram and started to open an account there. Then suddenly I visited my wazirx account and saw that my withdrawal was failed due to some technical reasons. I waited for sometime before making another withdrawal. After few minutes, again I withdrew my INR to my bank account. This time the process was done immediately.

I faced another technical issue in 2016. One of my friends had sent INR 5000 to my bank account using IMPS. The money is credited instantly to bank account using IMPS. However, the amount was not credited to my account even after two days gone. I was about to ask my friend. Before I would do he called me on the phone and asked whether I got the money. I told him everything. He said “don’t worry the money is safe. Either it will be credited to your account or return back to my bank account. I am sending you another INR 5000.” The second transaction was successful. As soon as the money sent in second transaction reflected in my bank account, the first INR 5000 sent two days ago was also credited. It was so funny.

I would like to share one more funny incident which was actually not a technical issue. I faced this problem first time in my life which I had never thought about. One day I visited an ATM to withdraw INR 6000. I completed every process. As soon as I typed the amount and pressed the enter, electricity was gone. The ATM machine was shut down and halted my withdrawal process completely. However, electricity came immediately but the money was not rolled back to my account. Immdiately I visited my bank and explained everything to the Operation Manager. He told me that the money will be credited to your bank within seven days, but before that I would have to submit a letter to the bank. There is no way to get the money back to my account instantly. I submited the letter and waited for seven days. At last, the money was automatically credited to my account after prescribed days.

I learnt some lessons from the above incidents that technology is good for us but sometimes it can create worst situation in your life.

Posted Using LeoFinance Beta