The internet has played a colossal role in this era, whether it’s related to personal lives or business lives. We are existing in a digital world where digital services are part of our daily lives from ordering food, booking transport, trading stocks and even banking.
“Mobile devices, high-speed data communication, and online commerce are creating expectations that convenient, secure, real-time payment and banking capabilities should be available whenever and wherever they are needed.” - Jerome Powell (Chair of the Federal Reserve, USA)
Banking is the one industry known for their limited hours of operation. This would be wearisome as formerly, it would be necessary to go to the bank for something as simple as checking the account balance. The unending lines, long wait for information and sometimes being given the run-around by staff.
In today’s world, with all the digital advancement, customers do not need to physically go to a bank to complete transactions anymore. This is a boon as it saves time and transactions can be completed, bank statements checked, money transferred and more, all with the click of buttons.