The impact of smartphone on the financial services industry

March 17, 2023

The impact of smartphone on the financial services industry

Order ID	53563633773
Type	Essay
Writer Level	Masters
Style	APA
Sources/References	4
Perfect Number of Pages to Order	5-10 Pages

Description/Paper Instructions

The impact of smartphone on the financial services industry

The impact of smartphones on the financial services industry has been profound and far-reaching, revolutionizing the way consumers interact with financial services and transforming the financial services landscape as a whole. From mobile banking and payments to financial planning and investment, smartphones have had a profound impact on how people manage their finances and access financial services.

One of the most significant impacts of smartphones on the financial services industry has been the growth of mobile banking and payments. With the widespread adoption of smartphones, consumers now have access to a range of financial services at their fingertips, including the ability to check their account balances, transfer funds, and pay bills. This has transformed the way people interact with their financial institutions, and has made it easier and more convenient for consumers to manage their finances.

In addition, smartphones have also had a significant impact on the investment and financial planning landscape. With the rise of robo-advisors and mobile investment apps, people now have access to a range of financial planning and investment tools and resources, making it easier for them to plan and manage their finances. These tools provide personalized advice and recommendations, helping people to make informed investment decisions and achieve their financial goals.

Another impact of smartphones on the financial services industry has been the rise of peer-to-peer (P2P) lending and payment platforms. These platforms allow individuals and businesses to lend and borrow money directly from each other, bypassing traditional financial institutions. This has had a profound impact on the financial services landscape, making it easier and more accessible for people to access funding and manage their finances.

Smartphones have also had a significant impact on the insurance industry, providing consumers with greater access to insurance products and services. With the rise of digital insurance platforms and mobile apps, consumers can now compare and purchase insurance products with greater ease and convenience. This has had a democratizing effect on the insurance industry, making it easier for people to access insurance products and services that are tailored to their specific needs and budget.

In conclusion, the impact of smartphones on the financial services industry has been profound and far-reaching. From mobile banking and payments to financial planning and investment, smartphones have transformed the way people interact with financial services and have had a significant impact on the financial services landscape as a whole. By leveraging the power of technology, the financial services industry has become more accessible and convenient, helping consumers to better manage their finances and achieve their financial goals.

The impact of smartphone on the financial services industry

RUBRIC

QUALITY OF RESPONSE	NO RESPONSE	POOR / UNSATISFACTORY	SATISFACTORY	GOOD	EXCELLENT
Content (worth a maximum of 50% of the total points)	Zero points: Student failed to submit the final paper.	20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking.	30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking.	40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete.	50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing.
Use of Sources (worth a maximum of 20% of the total points).	Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper.	5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6^th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper.	10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6^th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources.	15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6^th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources.	20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6^th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment.
Grammar (worth maximum of 20% of total points)	Zero points: Student failed to submit the final paper.	5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors	10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors	15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage.	20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free.
Structure of the Paper (worth 10% of total points)	Zero points: Student failed to submit the final paper.	3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6^th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6^th edition requirements whatsoever.	5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6^th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper	7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment.	10 points: Student provides a high-caliber, formatted paper. This includes an APA 6^th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.

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