SteemAlive Presents: ProWritersHub (W4) - Technology in Banking by @afshaan

in SteemAlive2 years ago

Greetings


Hello my Dear friends, We have successfully landed in the 4th week and I would like to say welcome to all of you. This is my 1st post of 4th week and the topic is Technology in Banking. Dear friends technology has become a part of our everyday life. We are constantly using technology for communication, entertainment, work, and so much more.


Technology has also become so integrated into our lives that it's difficult to imagine life without it. However, technology can also be used in banking and finance for different purposes, So without wasting your time move towards the topic.


Technology in Banking.

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With the development of technology, there is a greater access to banking. With the use of technology, people can now access their bank accounts from their smartphones, tablets, and computers. This has allowed people to be able to make transactions with ease and on the go. The convenience of being able to use these devices has made it easier for people to be able to keep track of their finances and manage their money.


The use of technology has not only increased the convenience of banking but has also increased its safety. With the use of these devices, people are less likely to lose their personal information.


Technology has had a huge impact on the banking the industry. With the use of technology, banks are able to provide better services to their customers and make transactions much easier. In addition, it is also important to understand how technology can help you manage your money better. Technology can help you with budgeting, saving, and investing. It is important to learn about the benefits of technology and how it can help you in your everyday life.


How do people save money before the invention of banking technologies.


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The invention of banking technologies had a large impact on the way people saved money. Before the invention of banking technologies, people would have to save and store their money in a physical location. This could be a chest or a pouch that they would wear around their waist or neck.The more money they saved, the more they could purchase. Saving your money was also a way to ensure that you had enough money to survive.


Before the invention of banking technologies, people also used to save their money in the form of gold or silver. The invention of banking technologies made it easier for people to save their money and use banks to store their money. Nowadays people usually save their money in a bank, but there are still ways to save money before the invention of banking technologies. People who want to save money before the invention of banking technologies can start by saving their money in a piggy bank, a jar, or even under their mattress.


What are some banking services that technology has made possible?


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Secreenshot from my mobile banking application


With the help of technology, banking has become easier than ever. Technology has made it possible for people to bank on their own terms and have access to their accounts from anywhere. People can now bank online and have a virtual presence to all their banking needs. With the help of technology, banks have been able to bring a lot of services to their customers that they would not have been able to offer otherwise.


Some banking services that technology has made possible.


  • Mobile Banking or Internet Banking
  • Payment through Cards
  • Cloud Computing
  • ATM Services
  • Instant Payments
  • Biometric Verification
  • Online Loan Schemes
  • Money and Cheque Deposit Machines

What are some problems that banking technology has created? Suggest ways of solving these problems created by banking techology.


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Banks have been around for centuries and in the past have been a safe haven for people to store their wealth. Today, banks are no longer just places to keep money, but also provide information and services. These changes in banking technology have created many problems that people have not been aware of.


For example, when banks are hacked, it is often not the bank's fault. It is the result of a hack that has targeted a bank's security systems, which can lead to a loss of trust in the institution and its customers. To prevent these problems, it is important that banks invest in more secure technology. Technology has caused an increase in cybercrime. Cybercrime is estimated to cost the global economy $600 billion annually, according to IBM Security.


One solution is to develop a blockchain-based payment system. This would make the system more secure because there would be no centralized data that could be hacked. Another solution is to develop a decentralized internet that would eliminate the need for central servers and data centers.


Technology has created many wonderful things, but it also has a dark side. The dark side of technology is that it's created a lot of ways for people to get ripped off. People can be tricked into paying for things they don't need and having their personal information stolen. These problems can be solved by using software to monitor the transactions made by banks. If a transaction is suspicious, software will send an alert to the bank's security team who will then investigate the situation.


Are you satisfied with how your bank is performing as regards technology services?


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I am satisfied with how my bank is performing in regards to technology services because nowadays, banks are doing more than just offering customers a place to store their money. They are also offering online banking and mobile banking. This is important because it gives customers the option to check their account balance, transfer money, pay bills, and more, all from their phone or computer. This is the future of banking and I should be happy with how my bank is performing.



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Thank you so much for your support

 2 years ago 

In the olden days, people save money by burying it in the ground without any interest.
But technology has made it possible for people to save money and still have interest through fixed deposit account.

Thanks alot

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Thank you so much for your support

 2 years ago 

Modern Banking services has really improved our banking system but has increased the rate of fraudulent activities online.
People can now do so many transaction while at home and can borrow loans from bank and settle there problems

Technologyes in the banking sector has create alots of impact in the field which helps the bank to work faster

 2 years ago 

That's true, with the help of technology banking services has now been made easy with less stress for bank account owners and bank officials

 2 years ago 

Good to read your entry for the contest. Saving money has been an age long activity because back in the day, our forefathers saved money in pots, purse, tied it on their waist, in wooden or metal save etc. Now technology and banking has taken over although the banking system has its own challenges.

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 2 years ago 

Wow,you have really made a great post of how.money is been stored in the olden days.

Modern technology in banking has really brought good things to us as it made the transfer, withdraw and deposit of money very easy.

Wish you success in this contest.

Thank you so much My dear friend same to you

You have really taken time to explain this saving methods. I can see that you are really satisfied with the way your bank is offering her services to you and customers.

Yes no doubt I'm very satisfied from my banking services I always recommend my bank to other friends due to his services

Of course there are still people who resist the services of technology in Banking services. They prefer the old method of saving their money.

Yess its all about believe on system

 2 years ago 

I am with you in this your solution of blockchain system it will go a long way.

Yess now should move towards the blockchain system but also we should be aware from the fraudulent people

 2 years ago 

This could be a chest or a pouch that they would wear around their waist or neck.

wow, that means we have a lot of ways use in saving money in the ancient days.
I have learned from your contents thanks for the quality post.
My regards.

Yes in ancient time their was many ways to save your money mostly peoples trade with gold in ancient time thanks for your comment stay blessed

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