The Digital Banking.

 

     



                            


For a long time, I have been thinking to write a blog on Digital Banking. Being an ex-banker myself and having worked in traditional banking sector here is what I have to say. 

The digital banking is a need of the day and every one has switched over to it. So, what's digital banking?

The digital banking is known as e-banking. This form of banking emerged over the last few decades. It allows the customers to access their accounts via their laptops or smart devices. These services save customers and the bank time and money and hence they have become more popular.

The earliest form of e-banking started in the sixties. It was the time when the world was introduced with ATMs and debit cards. Through these cards, the bank customers were able to access their funds 24/7 and it was not necessary to get into the bank, wait in the line or fill up the forms to withdraw cash or deposit your money, that would take considerable time. With the introduction of ATM, one could withdraw or deposit funds from the local branch at any time.

The advent of internet changed the entire face of banking forever. It became ditigal banking and the fund transfers throughout the world from bank to bank became very swift. The e-banking has led to major evolutions within the financial sector. Over the last few years, online banks have become a major trend in the market. These banking firms does not possess any brick and mortal location. So, the clients can conduct all transactions through their laptops or smart phone. These banks clients stretches from any part of the world and their customers can handle the transactions from any part of world.

Digital banking continues to see the growth within the financial sector. This trend will continue as the digitization of the market expands. At present the digital banking is the perfect solution to all the banking needs to solve the financial tasks from the location where you are. 

It is very easy and simple to open an bank account with the digital banking companies. My studies shows, there are several digital banks mushrooming around the globe. The fast growing and prominent digital banks are:

The Mobile Bank

Wise 

Revolut







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