Digital Transformations for the Banking Industry

  • Period: to

    Introduction of Bank Cards

    Bank cards or debit cards were introduced in the 1970s as a way for customers to manage their money and their accounts.
  • Period: to

    Direct Deposit

    By 1974, payroll deposits were available to receive funds.
  • Period: to

    Online Banking

    The first online banking transactions took place in New York from 4 major banks.
  • Period: to

    Digital Check

    Digital check processing was approved in 2003 to speed up the process of clearing checks and to allow customers to deposit their funds remotely instead of having to stand in lines for a bank teller to do it for them.
  • Period: to

    Bitcoin

    Bitcoin is trending because it is pure currency but it is not required to be backed by the government for spending.