Banking used to be a labor-intensive industry in the past. For instance, to obtain cash, one had to visit a bank branch, present a cheque to a bank employee, obtain a token, and then wait for the cashier to call their number. You had to wait a very long during the first week of a month when there was a rush for cash among clients.
The way things are done has changed because of digital banking. The only thing left to do is go to the closest ATM, insert your card, and you will have cash in your hand in less than a minute! Going paperless with digital banking allows you to stop keeping track of your transactions through paper records.
Let us understand the nuances of digital banking, its history graph, how it is helped the growth of banking and financial services across the globe, and what are the future scope.
