How technology has changed banking over the years
Fun fact: The world’s oldest bank,Monte de paschie di seine was founded in 1472, which, as its founding principle, provided loans to the poor. Today, it remains one of Italy’s largest banks, providing services to individuals across the country. Through the years, banks have become central to everyone’s daily lives. A place to keep money safe (no need to hide it under the mattress anymore), advise on investing hard-earned cash and provide loans when looking to make a big purchase. They have also facilitated travel by lending consumers currency for destinations around the world and have worked to make big businesses even bigger. As time went on, technology evolved and changed the way banks interacted with their clientele. Once upon a time tellers were the mainstay for people to get their money out of deposit accounts, and cheques were ubiquitous when making payments. This changed when the first cash machine was installed in Enfield, North London, by Barclays banks ...