Posted on October 20, 2017
The Evolution Of Online Banking
These days, we are all into online banking, unlike back in the day when we had to stay in long queues for hours. Things have become a lot easier for us these days. We no longer have to go to the physical address for a transaction. You can make the transaction sitting in the comfort of your home. All that you need is an internet connection. Online banking has become a necessary evil these days. There are several concerns regarding fraudulent activity on the web. But banks have been really successful in dealing with all kinds of threats. As long as you know how to be careful, online banking will be a stress-free event for you. We are going to learn more about the origin of online banking in this article. It is interesting to learn where it all began and how.
As far as the origin of online banking is concerned, then we have to travel to the early 1980s. Back then it was an experiment. And it was a vision for the future. However, if you are looking for an actual date when it became a reality, then you have to consider October 6, 1995. It was the Presidential Savings Bank, which first announced the facility. Within no time, other banks followed suit. And as we all know it, it has become an integral part of our existence today. Moreover, there are several banks that function only on the internet. Well, that will give you an idea about the way things have progressed in the past few decades. All thanks to online banking, you can apply for a personal loan Hong Kong online.
It didn’t replace traditional banking
In the early years of online banking, there was this speculation that it was going to replace traditional banking systems. But that turned out to be an overestimation. It never happened that way, at least until now. It hasn’t completely replaced the traditional banking systems. Even today, people prefer to go to the bank when it comes to things like personal tax loan Hong Kong. There are many customers who refuse to trust online banking. Despite online banking being a more convenient option, many don’t prefer it. But the younger generation has already been using it. And that will tell you that it can replace the traditional banking system. May be not in the near future!
Online banking is here to stay
As we all can see, online banking is not going anywhere. It is only gaining more popularity. As more and more people turn to online banking, we can see technological innovation changing the face of online banking in the future.