Banking on technology
Thursday, June 16, 2022
Have you been inside your bank’s lobby lately? No? Well, neither has anyone else. Okay, that’s an exaggeration, but, you get the idea.
The pandemic kept people out of bank offices and branches, but even in the months since banks have re-opened for in-person services, the increasing use and popularity of online and mobile banking have changed the financial sector’s landscape to make those bank lobbies as quiet as libraries.
Like so many other industries, banks have gone digital. Business is now largely conducted online or from mobile phone apps. This is the case for both consumer and business banking. Think online bill paying. Mobile or remote deposit. Electronic funds transfers (EFTs). ACH wires. Electronic signatures. The list goes on.
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