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Digital banking refers to the use of digital channels, such as online portals, mobile apps, and ATMs, to access banking services. It includes a wide range of services such as account management, money transfer, bill payments, and other financial transactions. With digital banking, customers can access their account information, make transactions, and manage their finances at any time, from anywhere, using a computer or mobile device.
Digital banking enables customers to perform a wide range of services, such as:
- Checking account balances and transaction history
- Transferring money between accounts
- Paying bills
- Depositing checks through mobile deposit
- Managing debit and credit card
- Viewing and downloading statements
- Setting account alerts
- Applying for loans and credit cards
- Investing and trading
Digital banking provides a convenient and efficient way for customers to manage their finances, and for financial institutions to reach a broader customer base and reduce operational costs. The most common forms of digital banking include online banking, mobile banking and telephone banking. With the advent of AI and other cutting-edge technologies, digital banking is becoming more personalized and efficient, with chatbots, voice assistants, and other AI-powered tools becoming more common in the digital banking experience.
“Digital banking is not just about technology, it's about creating new business models and new ways of serving customers.” - Brian Moynihan, CEO of Bank of America
Digital banking training refers to the education and training provided to professionals in the financial industry to help them understand and use digital banking tools and technologies. It is intended for financial institution employees, including bank tellers, customer service representatives, and other front-line staff, as well as managers, IT staff, and compliance officers. The training typically covers topics such as: