Role of digitalization in Banking
Wednesday, June 19, 2019
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Technology has changed banking sector vastly and made every process hustle free. People now can operate their accounts on their finger tips and without visiting bank branches. Digitalization in banking technology makes every transaction very fast and secure that people's hard-earned wealth could be held on safe hand. People now can withdraw money through ATM, transfer money to anyone by only using their fingers and check their balance, and validity and their expiry date through mobile phone which was impossible in ancient time when people would have needed to visit bank but now technology makes it easier that banks are going to every house.
In spite of this abundance benefits, there are a few disadvantages can ben seen. Despite the optimum security, frauds are looting people's money by hacking their bank accounts as people mostly use net banking technology. Even in some cases, banks employees involve themselves for doing this fraudulent performance.
Apart from this faults, banking sector secure its name to the world most transparent and public-friendly organizations.
Thank you....
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