While there are many benefits to online finance, there are also some challenges. These include:
Cybersecurity: The internet is a dangerous place, and there is always the risk that people’s information could be compromised online. However, this risk can be mitigated by taking steps to protect one’s personal information, such as using strong passwords and being careful about what information one shares online.
Lack of human interaction: Some people prefer to interact with a financial advisor in person. However, online financial institutions offer a wide range of resources, such as online chat, email, and phone support, so people can still get the help they need without having to visit a branch office.
Tech illiteracy: Some people may not be comfortable using online financial services. However, there are many resources available to help people learn how to use these services, such as online tutorials and customer support.