The history of technology in banking began with the use of punched card machines such as accounting machines or ledger display machines. The use of technology, at that time, was limited to maintaining bank books. It developed with the birth of real-time online system and considerable advancements in telecommunications in the late 1970s and 1980s. This resulted in a revolution in banking with "convenience banking" as buzzword. With Convenience Banking, banking is brought to the customer's doorstep. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essay The 1990s saw the birth of distributed computing technologies and the relational database management system. The banking sector was simply waiting for these technologies. Now, thanks to distribution technologies, it is possible to configure dedicated machines called front-end machines for customer service and risk control while communicating in batch mode without hampering the response time on the front-end machine. Intense competition has forced banks to rethink how they run their businesses. They had to reinvent and improve their products and services to make them more advantageous and profitable. Technology in the form of electronic banking has made it possible to find alternative banking practices at lower costs. More and more people are using electronic banking products and services, because a large part of banks' future customer base will be computer-literate customers, banks need to be able to offer these customers products and services that suit them. allowing them to carry out their banking transactions electronically. If they don't, they simply won't survive. New products and services are emerging that are expected to change the way we view money and the monetary system. 24-hour banking Electronic banking makes it easy for customers around the world to carry out basic banking transactions around the clock. In fact, there are no restricted business hours for banking services electronic. Convenient banking services. Customers can carry out basic banking transactions simply sitting at their desk or at home via a PC or laptop. No personal visit to the branch is required for routine basic transactions. Low cost banking services. Operational costs have decreased due to the adoption of technology. The cost of transactions through internet banking is much lower than any other traditional mode. This also provides significant savings on the cost of infrastructure, as banks can gain access to a larger number of potential customers without having to incur the commitment costs of physically opening branches. Additionally, staffing requirements in banks are reduced to a greater extent. A profitable bank. Increased speed of response to customer requirements can improve customer satisfaction and, therefore, lead to higher profits from managing more customer accounts..