In this article, we’ll take a look at how technology has transformed banking services over the past three decades. In the 1990s, First Direct, the digital banking arm of HSBC, was the first to introduce telephone banking services in the UK. Later, other traditional banks jumped on the bandwagon and launched their phone and online banking services. The success of online banking services in developed countries such as the US, Australia, Canada, and the UK and several European nations can be attributed to robust telecommunication networks and high internet connectivity. |
