The banking industry has undergone a significant transformation in recent years, moving away from traditional brick-and-mortar operations to the rise of digital banking. Nowadays, more and more people are embracing digital banking services due to their convenience and flexibility.
Digital banking, also known as Internet or online banking, means using digital channels to access various banking services. These services include checking balances, transferring funds, paying bills, and applying for loans. With digital banking, managing finances has become much easier, as individuals can access these services anytime, anywhere, using their smartphones, laptops, or computers.
This article will explore the concept of digital banking, its functions, its benefits, and its challenges.