Feb 18th, 2017 at 11:18AM
Innovation has been at its best since the dawn of the 21st century. Technology has benefitted all service providers to improve and adapt their services to the changing lifestyle of the consumers. The banking sector too has implemented new technology to revolutionise the industry.
Technology has simplified life by making waiting time almost negligible. Today the mantra is not just to satisfy the customer, but to satisfy the customer the fastest. This superfast lifestyle leaves the people of today with no time to stop and stare. This fast-paced lifestyle has caught up with the banking sector too. This has resulted in the introduction of a whole new range of services for their tech-savvy customers.
Here’s a look at some of the smart innovations in the banking sector.
Banking Anytime, Anywhere: Customers today can quit standing in queues and don’t need to take the day off to complete their banking chores. Every bank today has a fully integrated online banking system that allows you to carry out all your transactions with ease. From providing detailed account statements, fund transfers to paying utility bills; online banking applications like SBI Anywhere, provides it all.
Contactless Cards:Even swiping cards is a thing of the past. Innovation and technology has unveiled NFC cards where the customer merely waves the card in front of a scanner to complete a transaction.
Social Media Banking:The banking sector has broadened its horizon to include social media. People can now carry out simple banking procedures with ease. Checking bank balances and transferring funds are now available even on social media.
Today banking has embraced the latest technology and is headed in a revolutionary new direction. With the help of apps and digital innovations, banks are seamlessly integrating in their customers’ lives so that banking becomes more personal for them. And at the forefront of all this innovation is State Bank of India.