The past four years have seen banks move even quicker to adopt the trend of digitalisation; 20, branches have been closed and the ratio of branches per customer is predicted to move from , to , This transition to electronic channels, whereby a transaction is cheaper than one performed by a teller, is now a reality. Atom Bank, having just received its banking license to operate in the UK, will be the first mobile-app bank to be introduced to market. The technology will enable customers to open an account and carry out all standard banking activities from their smartphone or wearable device, setting a new standard in the banking sector. Mobile apps are currently the most popular way to bank, with research conducted by Caci stating customers are on target to check their current account on mobile devices almost million times this year, overtaking branch transactions and desktop access.
Essay on Internet Banking
Digital Banking - Term Paper
Overview of Mobile Development in Africa 1. What are some of the advantages of mobile devices that help. Banamex serves. When Toffler wrote his bestseller there were no credit cards, direct debits or unsecured personal loans.
Background And Overview Of Digital Banking
With the increasing usage of smartphones, digitization of banking sector is inevitable to catch up the increasing expectations of the world. It indeed reduced human errors and increased convenience. But the fact that cyber threats are on the rise, banks must be very careful and should be prepared to handle cyber attacks. Express your thoughts in the comment section below. Email Address.
In: Business and Management. Going digital — transformation in banking sector Digital transformation in Banking sector has begun. In the process of going digital, established institutions are introducing digital platforms that could help their customers have a better experience. Customers today are introduced to a digital platform that takes care of all their banking functions from opening a new account to handle issues relate to their existing account, and helps resolve issues associated with their debit or credit cards.