Technology

Development of mobile banking

A bank, by our understanding, is a place to deposit, withdraw, borrow and invest for us. But if a profound explanation of the meaning of the bank, according to the Royal Institute, states that ‘bank’ comes from the word ‘Thon,’ which means money, property, and the word ‘building’ together to form ‘buildings that do financial business Bank.

But when technology is involved in the development of various fields. Therefore, the bank is not limited to the traditional form of service. So the context of corporate banking software as a service in the future may not be the same anymore. However, in implication and importance, banks are still crucial as intermediaries that hold a lot of money.

But when the Internet came into play more and more. Therefore, the bank has changed its functions according to technology. And after this, we invite you to explore the story of the future of banking and innovations happening on mobile.

When technology changes the role of banks? So what will the future of the bank be like?

  • Online Banking Banks without Branches:  Nowadays, there are genuine online banks that do not have branches globally. Any unit can provide service to customers through the application. and is getting more and more popular from the new generation who do not need a bank to deposit money but would like to have a bank to manage the shopping lifestyle
  • Mobile Banking Changing Lives: Currently, there are 1.2 billion users of banking apps on smartphones worldwide, and the future of mobile banking apps will make users less of a transaction. SMEs businesses still don’t have to go to the bank. Just have apps like K PLUS SME that help manage their payments. Or get the check, and it’s over. And like this, will the future bank branches still exist?
  • Banks will drive cashlessness: The future of cash usage will be reduced as more online payment systems have been banking low code for financial application development and supported by the government. Banks have also set up FinTech development units to build their payment systems and are vital intermediaries driving cash reductions. and use this mobile phone as a wallet.

2000 BC a system of borrowing for agricultural products

Banks, or their closest form to banks, originated during the Assyrian Empire. and the Babylonian kingdom. The bank has the status of a borrowing point. Or points to exchange agricultural products between people in different cities.

In 1157, the first government-certified bank was born in Italy.

The ‘Bank of Venice’ was the world’s first bank established in Venice. by the Italian government certify. The bank was first shown to raise funds from the wealthy to fund various government administrations. The government pays a 4% return later on after the start of its currency exchange and deposit system. Withdraw money, which is similar to the current banking system.

The first commercial bank to set up a branch without any government involvement was called ‘The Taula de la Ciutat,’ which opened in 1401 in Barcelona, ​​Spain, and the unit still stands today.

In 2010, the world’s first Mobile Banking application was born.

The era when smartphones started to blossom began to emerge with developers of mobile banking apps. That came to help replace SMS banking. In the past, you could only notify money in, money out, and make simple transactions. It becomes the Low code Isvs for banking and financial app development that make various lists. Get more through the Internet that can do transactions 24 hours a day.

In that era, it was impossible to know who was the first app. Because many banks in Thailand developed mobile banking apps during that time. The most popular in Thailand today is K PLUS from Kasikorn Bank.

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