How New Technology Has Brought About The Changes In The Bank
How New Technology Has Brought About The Changes In The Banking Industry.The new technology has brought rapid changes in the banking industry and financial services. Online banking and electronic payment systems are the new development and diffusion of technology by financial institutions and are expected to result in a more efficient banking system. In addition to the trend of online banks, they have proven to last longer in the banking system. Technology has changed the banking industry because it now offers alternative and better channels through which products and services can be provided to customers. Some examples of the changes in the banking industry are the online banking and access to ATM machine. Online banking is a form of banking that can be done through the use of Internet and can be done at home, work, or wherever there is access to the Network. It allows customers to perform all routine transactions, such as bill payments, electronic transfer, balance inquires, account transfers, investments, and stop payment request. It basically allows the customers to carry out all the transactions just as in a normal bank except withdrawing of cash. This can be done at anytime during the day, and it is less time
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Approximate Word count = 1155
Approximate Pages = 5 (250 words per page double spaced)
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