Digital Transformation is changing the banking system from inside out

Digital Transformation is changing the banking system from inside out

Digital Transformation
What is Digital transformation? Digital transformation is the adoption of digital technology by a company, business, or any service and is not only a technology transformation it’s a complete business transformation. Every company and business is shifting towards digitalization including the financial sector like Banks. History of Digital transformation in Banking System The earliest adoptions of digital banking were ATMs and Debit/Credit cards which launched in the 1960s. In the ’80s digital networks began to connect retailers with suppliers and consumers and by the 1990s the Internet became widely available, and banks started providing online banking services. The betterment of the internet in the early 2000s led to the modern digital banking world. The availability of smartphones in the next decade made transactions go beyond ATMs and can be done…
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