It is now impossible to live without technology and everything that has been created as a result of it, and the digitalization of processes has become a vital part of easing the day-to-day lives of all people who rely on devices and thousands of data traveling at high speeds over the internet.

Digital Revolution

Society has been undergoing a continuous digitization process, which has habituated it to the flexibility and convenience that this process provides, making everything more immediate and placing enormous amounts of information in the palm of your hand.

As an example of the above, we have the fact that the digitalization of processes is so deeply integrated in people’s daily lives that it is believed that roughly 3.9 billion people own a smartphone worldwide.

Complementing this is the fact that the Internet is used by more than 4.9 billion people worldwide, accounting for more than 62% of the world’s population.

Because of this connection with technology, today’s advancements allow for transformations that were not feasible in previous eras. The “Fourth Industrial Revolution” has arrived to continue promoting and fostering society’s well-being, as well as growth and economic dynamism.

Digitization process in industry 4.0

What has defined this current Industrial Revolution is the increasingly widespread use of robotics, artificial intelligence, algorithms, the internet of things and virtual reality. All of these things have changed, from people’s lifestyles to company strategies.

You can now buy groceries, arrange transportation, and prepare the pantry using apps, all without leaving your house and in a matter of minutes. Electronic commerce allows virtual storefronts to operate 24 hours a day, 365 days a year, and when you buy, your things are delivered to your front door.

It is the era of the digitization of processes, the limits have been blurred, and this is something that of course benefits companies, since this immediacy and efficiency also applies to certain procedures that are necessary for their operation, from programs that optimize their productivity, to interfaces that facilitate and speed up credit applications.

The usefulness of an API

APIs, for example, are platforms meant to connect with other digital services in order to acquire precise information without taking a lot of time or effort.

The API from CRiskCo combines all of the required technology to create a credit report for enterprises in need of finance in a matter of minutes. This API is linked to any major accounting system and speeds up a process that could otherwise take days, by providing accurate, dependable, and real-time data.

APIs are an example of how the digitization of procedures may benefit the economy’s dynamic and how financial institutions can assist SMBs with objective and immediate resolutions.

The CRiskCo API will modernize and take your financial institution to the next level if you have a credit business and want to make the leap to industry 4.0.