Abstract:

Facebook as a social media, is transforming the relationship between banking system and the internet in a significant ways. People as a community are escaping the traditional manoeuvre to give birth to a modern era under the control of a technological determinism, without limitation, from new technologies collaborating with Facebook as the main leader of worldwide used software they are providing an array of facilities towards online banking system and advertising. Bringing a whole new venue to our social community can it, some schorlar articles argued that technological determinism can be representing the end of the community itself. Every change in history has its major pros and cons however, this paper strongly agrees with the social change and looking forward to a more hybrid structure to decipher the technical and traditional disadvantages it can face for a better evolution towards a new community. 

Keywords: Facebook, Financials services, technical determinism, social media, marketplace, digital connectivity, network individualism, hybrid community

 

Introduction:

People as a community are escaping the traditional manoeuvre to give birth to a modern era under the control of a technological determinism. Several scholarly articles argues that the rise of technology will alter the way we communicate as a community. Alvin Toffler (1970) argued that the rise of computers would extend human mobility to the point that community would collapse. Recent studies and opinions diverge through the fact that we are altering through the meta modernity without having in fact a loss of community structure. Social media as Facebook has become so much part of our life that international companies have started to greatly put emphasis on a way to exploit its full potential vis a vis their customers. Li, F., Larimo, J., & Leonidou, L. C. (2021). The new emerging technologies are using social media as Facebook data to help people to get quick access over banking facilities are credit card, transfer for marketplace and many more. It is clearly an option to argue that Facebook to be the bank of tomorrow, the financial services provided are bringing a whole new venue to the social community without for instance, changing its structure.  

 

Meta modernism:

e are in age of meta modernism as stated by Keith N. Hampton (2015), a more hybrid structure where the technologies of the modern time are decreasing the aspect of time and space constraints to increase potential mobility. In other words, Facebook as a social media with a rate of 1550 millions of users as described in November 2015 by the world economic forum Richard Eldridge (April 6, 2016), has been taking over by some strong business company to be involve in a market penetration or vis a vis some companies to started break the traditional boundaries and begin to embrace the liquid modernity aspects as for instance, to promote persuasive awareness. On example of this integration on our local market will be listed as the Juice application by the Mauritius Commercial Bank. Le Mauricien (20 September, 2014) The commercial bank followed the technological westernism has open the door to an application linked on several social media as Facebook for users and consumers to be able to take part into secure transaction online that is, to transfer money more securely, provide more information about users but more importantly to establish a connection with a community on such a base to refine the structure of a community and network diversity that is to make visible the technological resources at our disposal.  “Facebook platform as a digital marketing tool in an online marketplace that is now increasingly develop”. Piranda, D. R., Sinaga, D. Z., & Putri, E. E. (2022).  The marketplace establish by Facebook create a sense of modern community that put more emphasis on post industrialism form as for instance, if you are into car parts more than anything else on Facebook you will start to be link with articles that suits you and attract more of your attention, leading to the buying and trading of parts in that sense using mainly internet banking system proposed by the commercial bank locally that is, Juice. This proposes an aspect for customer service and mode of secure payments for customer and social media users. This brings out an array of advantages to the users, the development of the country and in addition, the bank itself. Firstly, this move has distantly reduced the customer service in the local branch of the commercial bank, the modernism brings people to use more of the application for their queries, a way to process the online banking and efficient way to process the applications. The technical determinism has boost local bank as the commercial bank to find new ways of business model pushing their integration towards a network diversity, Juice have created several options as for instance, providing loan online called a personal loan that is providing your documents online and the approval via your email, lenders are using the application as to gather their information to credit rate applicants. Jean Claude Le Roi (27 Janvier 2024). ‘Juice Mwa’ is a new option that allow users of the application to contribute their funds on one and only account that is the one who pays for the diner for example, such options help each and everone to reunite and facilitates bonds of social community. The acceleration of mobility may represent a shift from modernity to late modernity (Giddens, 199) but does not represent a fundamental change to the structure of community, this sustains the point stating that recent technologies enable persistent contact by allowing people to keep contact overtime. Hampton 2016.  

 

Secure database:

The biggest challenge is to maintain security standards and customers knowing that their private information is secure, knowing that every data stored is keep on the deep web linked to social media as Facebook. “The Deep Web has long been acknowledged to be a major source of structured data on the web, and hence accessing Deep-Web content has long been a problem of interest in the data management community.” Madhavan, J., Afanasiev, L., Antova, L., & Halevy, A. (2009).  Not qualified of being mysterious or spooky the deep web is composed of 90% of the internet we are surfing every day, things life scientific research, medical reports, private communications and financial private information are being stored on servers linked together, being mostly mundane and hidden behind login’s servers and security paths now, the dark web, it is a different kind of story. Composed of 6% of the internet this place is considered to have all the illegal aspect of it, counterfeit email bank account and how to hack nearly every system as people being able to crack code and so on and so forth as stated in the article Chertoff, M. (2017). Scholar articles argues that the time is here for a complete extension of the social forces as the financial services offered in this case that will, restructured the social relationships as a result of urban industrialism engaging in an increase in mobility however, that increase in time and space is giving also the opportunity for dark forces to act against the system. As said previously, application system as Juice who works directly with social media as Facebook to be able to facilitate customers through various paths can lead to privacy to be violated in case of information leaked, deep web can be accessed through various ways for hackers, they might be handling your full card number and information about it will be used to purchase items online for example as it is required to have only the full card number and the CVV at the back of the card, information which are stored by the bank and also shared for payments method online on the Facebook marketplace. Alvin Toffler (1970) argued that the rise of computers would extend human mobility to the point that community would collapse. If we tend to see the progression and this aspects of the technological aspects as seen above, we will see this article by Alvin Toffler predicative, however, I argue that the internet have an array of disadvantages but it can be compared to every single ideas that has ever emerged on our planet it is not perfect. Dotson (2017) argues that too much weight in terms of opinion is put on the technological determinism, that new opportunity can be created out of it. In the early 20’s online banking has implement the PayPal assurance that is, customers and users can report a fraud system done on their card for online transaction and such case will be checked through a board or by international companies as Master Card and Visa or Amex Lowry, P. B., Wells, T. M., Moody, G. D., Humphreys, S., & Kettles, D. (2006). local commercial bank has a special team that supervise fraud cases online and advise how to prevent or also to rule their cases and refund the client back, the section is called Chargeback.  To sum up, even with the liquid modernism aspect, increased persuasive awareness companies will always do their best in terms of security to protect their customers and new options will be provided.  

 

A shift in modernity:

“The acceleration of mobility may represent a shift from modernity to late modernity (Giddens, 1991) but does not represent a fundamental change to the structure of community.” 2020 represents a strong turn in the acceleration of mobility concerning the financial services as the world was hit by a global pandemic named Covid-19, bringing consciousness that traditional realm of community urge to be broken as the space of places, interaction would be much different. Castells M. (1996). Social media as Facebook is well known allow higher levels of time and space instantiation, not well seen by some, they argued that a relationship freed from the constraints of time and space (Harvey, 1990) would lead them to a annihilation of the structure of the community. However, during that time the society as we all knew it has found one single chance to found a way to live, numerically as the only way that the World Health Organisation has found on a first view to help to reduce the cases worldwide was to limit the transmission of SARS-CoV-2 virus by imitating the movement of one another under which we may have believed in a complete extinction of our community. Although, network diversity who was criticized by some scholarly text was one of our main weapons against the pandemic, the idea of new financial services, as it transcends the idea of urban industrial community as to reduce time and space as to create new bonds mode of payment without even the need to get out of our house was a symbol of increase in mobility. The making of an hybrid structure was forced by the global pandemic proving to each and every civilian that lived through this fatidic period that the network diversity are indications that social media as Facebook through partners can strengthen relational closeness (Burke & Kraut, 2014) can also bring a large number of social ties and the emergence of new community as a structure.Covid-19 was an experience that has for instance, promote the online transactions to a new level and show how amazing new technologies in a liquid modernity can bring so many facilities for the population to act and to buy their things more securely and safely in terms of environment. 

 

Conclusion:

To conclude, we can verily assume that Facebook linked with partners concerning the financial services that we are up to expectations, without breaking up the chain of the community structure. It is argued that, financial services created in late modern era can result in a negative render for the older generation in an urban industrialisation community. On the other hand, we can see that it can create a bond vis a vis grandchild to their grandparents and link lives. (Siibak & Tamme, 2013). The cost of caring is an essential pillar of the community, and it can visibly be touched even in the modern era, proving the world that even during the liquid modernity the chances are really low, not to say impossible that we can lost the structure of our community through technological determinism. 

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