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 has been evolving, and it is known as one of the oldest businesses in the world. It has progressed and grown with every passing year. 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 amount of paper work. Due to technological advancements in the banking sector, the need of labour and papers has reduced a lot. The banking sector hasn't been left out either; the impact has been profound and has affected every part of banking from the way banks operate through to how clients access different banking services.

Online banking is perhaps one of the biggest changes that has ever happened in the banking sector. Previously transferring money involved going to the bank physically and making the transfer, but now that is not the case. Today you can easily move money by just keying in your account details online to access your bank account and then making the transfer. 

Atm Machine Can you imagine life without ATMs to dispense your money on the spot whenever you need it? These devices grew in popularity in the mid 80's and there are now over 10 million of them globally.