How technology has changed banking over the years

E-banking, online banking, net banking, etc. have completely changed the way banking is done today. Banking are playing an important role every where. It is the backbone of modern economy. It is hard to visualizes trade, business without banking , Banking has been in existence in from very long time and several innovation has been taken place in banking sector from time to time based on the needs of the consumers, market uncertainty etc. Banking has brought new concept of E banking and various financial product in the market.The introduction of E-commerce has brought several changes in the industry and technology and it is still working on innovation .

In Earlier time Banking is all based on Physical interaction. Whatever transaction you have to do you have go to the bank and if you want to deposit money then you have to fill the deposit receipt and if you want to withdrawal money then you have to fill receipt which is so much time consuming. But regular update in the Banking field this problem has been solved now with the help of deposit machine you can deposit money at any where and through A.T.M money and through net banking you can easily withdraw and transfer money.

The Technology has significantly changed the working of banks. Now the banking industry has changed from paper branch system to digitized and network system. Those work which requires lot of time now can be done in seconds at home. Now the banking sector is making banking more easier and user friendly to their customers.

1. Online Banking:-

Today you can easily run money by simply entering in your bank account and after that making the transfer. This enable you quick transfer money through upi Etc.

2. Safety of customer:-

Innovation has made banking much more secure than before. if any deduction made in account then a customer get update through message and missed call alert.

3. Financial Integration:-

There are many banks which are integrated to make technology more suitable for their customers

4. Easy Transfer:-

Money can be easily transfer through google pay, paytm and phone etc . It can be done in seconds.