Either you are a frequent bank client or you are visiting your local bank branch once in a while to pay your bills, you should be informed about all the recent advances in banking technology. Read the following article and find out how advances in bank technology affect your transactions and your every day life as well.
Online banking, also known as E-banking or web banking, is a trend of the last decade. It was initially used by small or bigger business owners and corporate clients, who managed large amounts of money. Over the years, online banking became accessible to all bank customers who own a computer and has Internet access.
How does it work?
The use of online banking is simple and quick, and may have slight variations according to each bank. It usually requires a fast and easy registration process and probably a visit to your local bank branch as well. When this process is over, you can log in to your bank’s web site using the username and password provided by your bank. Depending on your bank, you may also need a small device that produces a unique code every time you want to use the online bank services.
Why to use online banking?
You can use online banking for a vast variety of transactions. You can transfer money to your accounts, you can pay your bills, you can invest your money among others.
Credit card accounts
Advances in banking technology have facilitated the use and management of credit cards.
Benefit for bank clients
The wide use of the Internet allows credit cards owners to manage their credit card accounts online and pay their credit card bills through the banks’ web site.
Benefit for banks
On the other hand, advances in banking technology has facilitated fraud management and has eliminated identity theft cases.
Advances in banking technology have also facilitated the labour market. Banking recruitment technology allows individuals seeking for bank jobs to enter numerous bank web sites within seconds, search for job vacancies, apply for any position that they are interested in and even submit their curriculum vitae for future job vacancies.