How technology has changed the banking sector

 


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


With upgradation in technology ,every thing has changed rapidly which make the task easier.one of the changes is technology in banking ,change the entire way of banking system thus make the system for effective as well as time saving and thus help the industry to grow.
Before the invention of computer bank system was entirely done on paper.All the transaction can be done paper only.

Changes in banking system:

1.Computer:computer was the major invention that lead whole banking system change from paper based work to computer based work,thus the work is done more efficiently then before.
It reduces the man work load ,save the time and data collected is more realistic than before

2.ATM: Automatic teller machines save the time and make money available 24*7 .


ATM card is acceptable through out the country,it makes the travelling easier without risk of money in hand and thus allow a path of digital payment.

3.Net Banking:Its an online banking ,which s an electronic payment system.It allow you to conduct many transaction through the internet from home itself,it help you to do fund transfer,applying for loan, paying taxes,bills ,insurance premium etc.


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