Hopefully everything in the world will go digital in real soon. I am using a bank that is purely digital and doesn't have a place anywhere at all, it is tied to another bank that has places obviously for paperwork related reasons I think, but to me I have never used anywhere to go, I just use the app and the card and that's it, I didn't even had to go anywhere neither, I just filled an application form online and they sent me someone with the card and some paperwork to sign and that was it, never seen anyone from them ever again.
This means lesser costs and they charge me absolutely nothing for most things compared to regular banks here that charges for even having an account. This is why I believe it is vital to us to realize benefits of digital world in every industry.
Topic: The 2nd generation of banking is going digital (Read 878 times)
Epidemic the condition of the banking sector has come down . Banks have reduced the quantity of transactions. which, albeit the second generation banking is digital, the demand of the banks will decrease if the transactions are less. The decline within the rate of return on investment is temporarily having a negative impact on the profit of the bank. now's the time to enhance fund management, reduce costs by making deposit mix sustainable, increase the efficiency of bankers, digitize all the activities of the bank, reduce defaulted investments.
The pandemic situation almost a year, forcing people to start switching from traditional banks to digital banks. Because digital banks
are proven safe and practical, digital banks are also very effective at preventing the spread of the corona virus. By using digital bank,
there is no physical contact, so in my country it has started to socialize the use of digital banking. And slowly transactions using traditional
banks began to be reduced.
.are proven safe and practical, digital banks are also very effective at preventing the spread of the corona virus. By using digital bank,
there is no physical contact, so in my country it has started to socialize the use of digital banking. And slowly transactions using traditional
banks began to be reduced.
I still have my bank account from my regionalvwbk since being a teen.VBut ut got so expensive to use it in the last year that I had to switch it into a savings account.if I am just using the account to save money the fees are much lower than when using credit cards for that account. My new account is with a digital bank that offers the same services but for free.
The pandemic situation almost a year, forcing people to start switching from traditional banks to digital banks. Because digital banks
are proven safe and practical, digital banks are also very effective at preventing the spread of the corona virus. By using digital bank,
there is no physical contact, so in my country it has started to socialize the use of digital banking. And slowly transactions using traditional
banks began to be reduced.
are proven safe and practical, digital banks are also very effective at preventing the spread of the corona virus. By using digital bank,
there is no physical contact, so in my country it has started to socialize the use of digital banking. And slowly transactions using traditional
banks began to be reduced.
Digital banks are really better compared to the traditional ones. It changed the lives of many people in terms of convenience. Sending to someone was made easier. And some digital banks even offers to pay bills. You can also easily track your transactions by using this. Though it has some disadvantage as sometimes some people can't control their spendings because of the convenience of using digital banks.
Although the world is gradually moving towards digital technologies, it must also be remembered that digital technologies make our world more vulnerable. We become completely dependent on these technologies and during global cataclysms, when these technologies are turned off, we will simply become helpless for further survival. Therefore, along with the transition to the use of high technologies, we should not give up old reliable technologies for now. Therefore, cash is also not worth giving up for now.
There are also a lot of online "banks" that provide other services as well, like Kabbage which is an online website that basically gives out loans, their default rate is incredibly low because they really give loans to people who could give back and check this with not only financial data (which almost all banks do) but also with social media data as well, which means they do give money to people who have always paid back and who has a huge follower and constant business, which means lower default rate than banks.
Digitalizing the financial world will make it much better for everyone in the world, places like RobinHood for investment for example allows people to get in a lot quicker and easier instead of some wall street broker who wants your money for the fee and not care about you at all.
Digitalizing the financial world will make it much better for everyone in the world, places like RobinHood for investment for example allows people to get in a lot quicker and easier instead of some wall street broker who wants your money for the fee and not care about you at all.
It is almost 1 year since the creation of this thread and the speculations had found it right. Could I think that the pandemic helping with the transition? Sound just a big coincidence but obviously, it was a reason why we have these changes and people had to take this opportunity as well as we care about our health. Yes, it wasn't already in the full phase of the transition but seeing a continuous development will help to get into the higher level of adoption.
Who would have thought 1 year ago how 2020 is going to be, no one thought about a global pandemic like corona. I think the pandemic had a huge influence on digitial banking. People are more scared to be infected with the virus and try to avoid physical contact wherever possible. Everyone has a mobile phone and a credit card these days. There is no problem anymore with contactless payments in stores and supermarkets. We can pay either with the phone or the card, no need anymore for cash. Digital Banking is the future for our generations.
Digital innovation makes people become productive but it makes us lazy as well. We don't need to go outside to buy food, stuff, we mostly acquiring online services that its influence for the next generation changing their lifestyle in the most convenient and easy life. We'll appreciate that changes and this digital transformation make so perfect in this internet era.
It is almost 1 year since the creation of this thread and the speculations had found it right. Could I think that the pandemic helping with the transition? Sound just a big coincidence but obviously, it was a reason why we have these changes and people had to take this opportunity as well as we care about our health. Yes, it wasn't already in the full phase of the transition but seeing a continuous development will help to get into the higher level of adoption.
Who would have thought 1 year ago how 2020 is going to be, no one thought about a global pandemic like corona. I think the pandemic had a huge influence on digitial banking. People are more scared to be infected with the virus and try to avoid physical contact wherever possible. Everyone has a mobile phone and a credit card these days. There is no problem anymore with contactless payments in stores and supermarkets. We can pay either with the phone or the card, no need anymore for cash. Digital Banking is the future for our generations.
I've been reading some articles about it too. They were saying there will be two layers for its protocols like banking and commerce. The digital dollar was said to have these layers too just like the digital yuan. Certainly, this is really going to be part of the surveillance of all.
This ain't going to be the adoption of cryptocurrency though but crypto will be opened for all like anyone who has digital currency will have the chance to trade cryptocurrency.
Banks will soon introduce digital banking system everything is now being completed online and moving forward with the advancement of technology. The Board of Directors of Bank Asia recently decided to launch a new subsidiary to provide digital banking services. The bank then informed the Dhaka Stock Exchange on June 30 that it had applied to the central bank for permission to launch a subsidiary for digital banking services.
It is almost 1 year since the creation of this thread and the speculations had found it right. Could I think that the pandemic helping with the transition? Sound just a big coincidence but obviously, it was a reason why we have these changes and people had to take this opportunity as well as we care about our health. Yes, it wasn't already in the full phase of the transition but seeing a continuous development will help to get into the higher level of adoption.
On my own opinion, even if this pandemic didn't really happen I would still believe that banking sector would really be still ending up on this path where everything goes to digital.We have already credit and debit cards which had already been a while and going digital isn't really far off to be reached or making up such transition.
So it wont really be that much surprising on making out such changes and in regards of crypto's existence then it would really just remain as an alternative and wouldn't really be
a mainstream ( Its just my opinion though)
Now almost everything is online, and financial transactions are also increasingly being used digitally. Therefore, many financial products
issued by banks are currently in digital form. Especially in a corona virus situation like now, it is highly recommended to conduct digital
financial transactions. So there is a possibility that in the future all financial transactions will become cashless.
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issued by banks are currently in digital form. Especially in a corona virus situation like now, it is highly recommended to conduct digital
financial transactions. So there is a possibility that in the future all financial transactions will become cashless.
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It is almost 1 year since the creation of this thread and the speculations had found it right. Could I think that the pandemic helping with the transition? Sound just a big coincidence but obviously, it was a reason why we have these changes and people had to take this opportunity as well as we care about our health. Yes, it wasn't already in the full phase of the transition but seeing a continuous development will help to get into the higher level of adoption.
In the future, many institutions, works, services will be abolished and go online, which is part of the evolution and progress, which we cannot influence. It is inevitable and you need to keep up with the times
The concept of a Digital Banking System is getting popular day by day. People are accepting it easily and become habituated with this system usually. ATM booth is to be mentioned precisely to elaborate on this system. So it can be said that the 2nd generation of banking is going digital.
I enjoy the feature of new online banking of some popular banks here in my country because it makes me easy to cash in and cash out money especially when it comes to my local BTC wallet. It's a good concept also because we can easily pay bills through online banking which is very essential this pandemic. We aren't required to the good outside just to pay bills because online banking is the one that will make your life easy.
Another good feature of online baking is we can transfer money on different wallet platforms. Applying for debit cards becomes easy too because of online banking.
Another good feature of online baking is we can transfer money on different wallet platforms. Applying for debit cards becomes easy too because of online banking.
The second generation of banking services has turned digital, but it hasn't got a complete transformation. This will change slowly, now through mobile wallets and through other forms of digital transfer more transactions have been taking place. We can expect a completely digitized transformation by the upcoming generation.
If they completely go digital, how will the primary role of fiat disbursement to the public happen? I don't expect that banks will completely go digital because that means that cash also is going to suffer. This move to me won't be possible to hold because bank is primarily for cash savings and disbursement.
Nah, fiat will continue to co-exist together with digital payments. No matter how mainstream digital payments gets in the near future, fiat will continue to exist, and that's all because of the third world problems.
I can't imagine purchasing your essentials but got rejected because of some internet trouble. I might reconsider full digital, If offline transactions are being developed.
A good article and innovator from Credit Suisse since 2015. Today we can invest in non-traditional banks, borrow with bitcoin and crypto, earn interest and more. It is the result of the disruption of money that gave rise to Bitcoin. With all these advances in managing digital money, banking needs a new awakening to innovation and to adapt to the needs and demands of users.
Banking digitally doesn't necessarily mean the adoption of bitcoin and other crypto. Banks have been going digital since the inception of credit cards and bank apps. Banking digitally is simply making transactions without the use of a physical bank and this is already been done using credit cards, debit cards, bank apps and even the web version. You should know there are bank regulations guiding these transactions even if they are done digitally.
Banking with crypto is also done digitally only that it is not regulated and controlled. It doesn't require any physical bank which makes it the best digital currency.
Banking with crypto is also done digitally only that it is not regulated and controlled. It doesn't require any physical bank which makes it the best digital currency.
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