Technological advancement in banking sector

Banking sector has embraced new technologies to provide better services to its tech savvy customers. Hare are 4 ways that illustrate how banks have adopted new technologies:

(i) Mobile apps: several banks and financial institutions have generated mobile apps that provides mobile payment services.

(ii) Wearable tech: A major section of consumers prefer using wearable devices to make payments. Keeping this in mind, banks have launched apps that are supported by wearable devices.

(iii) Social presence: Banks are going social with their presence in various social media and networking sites.

(iv) Financial gaming: Financial institutions are using gamification technology to attract customers. Several financial institutions have launched gaming platform where customers, on the basis of how often they visit the bank’s website, can earn points and win prizes. Read more at: http://www.cio.in/feature/how-big-banks-use-tech-to-attract-savvy-consumers#