5 Great Ways Technology Has Influenced Banking
Haters
of technology will unashamedly testify to the impact technology has had
in the banking sector over the decades. In Nigeria, the discrepancies
between the so-called old generation and new generation banks are no
longer there. Thanks to technology. This is because many banks have
invest millions to accommodate technology. Interestingly, if they don’t
do this they will become irrelevant. But, at the end, they will still
navigate towards tech. So, how has technology influenced banking? Here
are 5 great ways.
Better customer service
Customer
service in banks has improved. And with the CBN monitoring the
activities of these 20 banks closely, they have to choice than to offer
services that will make their customers happy. Many banks have embraced
social media to interact with customers and help solve complaints.
Less queues
In
the past, you will be told to arm yourself with a mat when going to a
Nigerian bank because of the long queues. Not that these queues have
completely disappeared, they have significantly reduced to the barest
minimum. Now, you can perform banking transactions on the internet or on
mobile.
Withdraw and send money anytime
With
Automated Teller Machine all over, you can withdraw and send money at
any time of the day. This also comes handy when you are stranded or have
an emergency.
Cybersecurity and data protection
With
banks recognizing the importance of technology to their services, they
invested heavily on enforcing and reinforcing their cyber security and
data protection. Lifestyletower obser
More competition and bigger challenges
Technology
has no doubt opened up the banking sector to competition which is one
of the biggest changes. Almost all the banks in Nigeria have codes for
mobile banking. In addition to this, offer incentives for you to bank
with them. In fact, some of them call you if your account is dormant.
This will never happen in the past.
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