How technology has changed banking over the years



E-banking, online banking, net banking, etc. have completely changed the way banking is done today.


Ever since the 18th century, the banking sector  is known as one of the oldest businesses in the world.Although in the recent years, the industry has transformed with the help of technology. Banks were always regarded as a place with long queues, and an unmanageable paper work. Due to technological advancements in the banking sector, the need of labor and papers has reduced a lot.Information is  now transferred and stored in a much more convenient and efficient way.
This are different examples of how technology has changed banking:

 Online Banking - Online banking is one of the biggest changes that has  happened in the banking sector. Today you can easily move money by just keying in your account details online to access your bank account and then you can make the transaction. you can also pay bills, and make payment of anything digitally.

ATM Machines- Banks provide ATM's to dispense your money on the spot whenever you need it. ATMs have made life easier as they can be found anywhere: from bars to movie theaters, hotels, grocery stores and more.

 Globalized - Another advantage of technology is globalization of the banking sector.They can operate across the world, the cloud making it possible so that banks can share data easily and conveniently.

Financial Integration-Many institutions has availability of different banking services such as pay-day loans, prepaid credit cards, check cashing services and business loans for a free

24-Hour Access- Online services allow consumers to access banking services throughout the day, 7 days a week, 24/7 online service available. You can easily login your account and perform any transaction. 

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