Throwback Thursday: the history of internet banking

Banking reality changes so fast. Today we take time to pay tribute to the major milestones on the road to mobile payments

Throwback Thursday: the history of internet banking. Source: shutterstock.com

When was the last time you actually visited your bank? Hard to remember, right? Just picture that only a few decades ago, people needed to actually go to the bank building for every small financial operation. Withdrawing money, paying for services, transferring money and even checking a balance – all these required the client’s physical presence. Today, all this can be done anywhere with a PC, tablet, or mobile app. Unimaginable for the 1970s, online banking has become an integral part of our lives. How has banking evolved so quickly? We cut a long story short in this article.

The history of internet banking

The significant events of the last 11 years are hard to enumerate since Internet banking has taken giant strides all over the world. Millions of bank clients use online services, preferring them to personal visits.

Experts predict it will further evolve into a highly personalized and decentralized model. Who knows what amazing perspectives cryptocurrencies and distributed ledgers may bring to Internet banking transactions? Only time will tell. So, let’s hold our breath and look forward to a bright financial future.

SEE ALSO: Top 10 banking industry trends for 2019

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