How technology has changed banking over the years

E-banking, online banking, net banking, etc. have completely changed the way banking is done today.

Banking system is very essential part to boost up the economy on all over the world. The adoption of Internet banking in Pakistan will have its own advantages to both the banks and the ultimate customers. Internet banking is offering a very simple, convenient and secure method of accessing bank accounts on the Internet. Cost reduction, effective, easy to maintain, speedier and highly competitive would be the use of information technology. It’s so easy to access and manage your finances in a secure, real-time, online environment anywhere and anytime. Internet Banking facilitates the customer to check his or her balance over the net. This is conducted via wireless technology through both personal digital assistants (PDAs) and cellular phones. Online banking system present to their consumers a set of information-related benefits that favors to adopt e-banking, including the facility for the customers to control their bank accounts at any time and any place, and to access information content for making investment and financing decisions (Howcroft B, 2002).This is similar functionality to PC banking but is accessed through browser of any proprietary software (Shanmugam & Krishna Guru .2003). It is not only beneficial to manage personal finance but also help in managing different types of business finances. Internet banking the use of technology to communicate instructions to and receive information from a financial institution where an account is held. Internet banking includes the systems that enable financial institution customers, individuals or businesses, to access accounts, transact business, or obtain information on financial product and services through a public or private network, including the Internet.