Banks nowadays are very different from what they were in the past. With technology increasing at a rapid pace, we are seeing banks enter the digital age with a lot of service offerings that you would never have been able to take advantage of in the past. Below, we will be going over a few of the differences.
1. Mobile Banking.
This is probably the most drastic change that banks have undergone in the past. Mobile banking has completely changed the way a lot of people do their banking. No longer are you forced to go out of your way to deposit a check or even to make a transfer? With mobile banking, banking has become a lot more convenient for customers. Banks have begun to offer mobile banking and a lot of features along with mobile banking that helps their customers get more out of their bank and to do more on their mobile devices.
2. ATM Machines.
ATM machines were one of the biggest changes undergone in banking in quite some time. ATM’s offered people the ability to go to the bank at all hours throughout the day and to really be able to get a lot of their banking done without the assistance of a bank teller. ATM machines also enabled people to withdraw cash when they needed it without having to physically go to the bank and even to do it at ATM machines in different countries while they were traveling.
3. Crypto Services.
Another big change in banking is the fact that some banks are beginning to offer crypto services for those that are looking to move towards using cryptocurrency.
4. Kiosks and Express Branches.
Another big change with banking has come in the form of express branches and kiosks. Chase specifically has made significant investments in their banks in order to minimize the amount of time it takes to physically visit a brand. They have done so by creating express branches and kiosks that people can go to in order to get various things done much quicker.
Another big change in banking is the use of bots. These bots are used for various things from helping customers manage money to interacting with customers and telling them about new services, offers, and more.
6. Turning Smartphones Into Wallets.
Another major way banking has changed is through the ability to use your phone as your wallet. Nowadays, a lot of banks are implementing technologies which allow you to store your bank card on a mobile wallet which allows you to use it at various places securely without having to pull out your bank card or even use it. Some banks like Barclay are even giving customers features that allow them to scan items into the app while they shop and pay for them using a mobile checkout solution.
Overall, there are plenty of different ways banking has changed over the past few years. Banks are continuing to innovate and you can expect a lot more changes even in the near future.