Digital Transformations in Banking

Online Banking Begins

1994

Online banking is built into personal software/first online banking website introduced

Mobile Banking Introduced

1999

SMS

3 Million On-line Users

2001

Bank of America becomes first bank to have 3 million on-line customers

E-Check Introduced

2002

Apple Launches iPhone

2007

iPhone allows use of modern smart phones for mobile banking. Shift from personal computers

Digital Wallet Introduced

2011

Apple Pay Introduced

2014

Allows for fast, easy checkouts