There are hundreds or maybe thousands of traditional financial services products on the market from insurance, loans, mortgages to credit cards. But a few innovative ones catch our attention. They are unique, deals with a particular problem, smart, helpful and save money. Another key feature of them is that they were not possible only few years ago. They are available thanks to new technology and programing skills. Here are some of those smart products.

Secure Payment Options

Perhaps one of the proofs of how programming, coding and computer technologies help make our life better is secure payment options. We all know that we can shop anything online and get it delivered from anywhere in the world. But would we have been happy to hand over our credit card details to all those people we have very limited information about? I wouldn’t.
Thankfully, we don’t have to give our credit card details, address and other identifying particulars online to all those providers. We just need to work with one company that will keep our details safe and still allow us to make payments and get what we want. You probably know a few of those secure payment providers and the most popular one is probably Paypal. If you don’t know how paypal works you can read on that page.

Pay As You Drive Auto Insurance

Can you imagine a car insurance policy that charges you only as much as you drive? Thanks to technology that allows vehicle insurers to monitor driving they can now measure the risks involved insuring a particular automobile perfectly. As a result, every policyholder who allows monitoring would only pay premiums based on their driving patterns and yearly mileage. These policies are great for young people and high risk drivers. When you are a young driver you get thrown into the young drivers group who are the riskiest ones to insure. The only way of breaking away from this categorisation is to prove that you are a better driver than your peers. So, you can find a black box policy that will come with a monitoring device. These devices work with on-board computers or GPS technology.

Open Plan Mortgages

Can you imagine a mortgage that is linked to your savings and current account: a mortgage that allows you to pay down as much and as fast as you want and then let you borrow it again anytime you need? It would have been impossible to administer such offering if it wasn’t for the online banking capabilities that can coordinate your accounts and work out the interest and charges.
Saving money is so rewarding when you have an open plan mortgage. You are offered the same interest rates on your savings as you pay for your mortgage. In other words, you don’t pay interest for the amount of mortgage equal to your savings in the bank. Isn’t it great? They come under different names like offset or flexible mortgage and are available in several countries. These mortgages can be a great alternative to fixed mortgages that come with penalties whenever you want to change the terms.
When you look at gibberish looking codes it would be hard to comprehend that they will serve us in such an amazing way. When you look at a little GPS device you marvel how it works and guides you throughout your journeys. Can you imagine how many fights you would have had with your partner about map reading if it wasn’t for GPS? Don’t you wonder how technology changed our lives for good or bad? Make sure that you use it in a good way. For example, don’t be dumb to text while driving as that may be your last use of technology.