What is digital banking in the role of technology in the banking sector?

Digital banking refers to the use of technology to provide banking services to customers. This includes online banking, mobile banking, and other electronic forms of banking that allow customers to access their accounts, make transactions, and manage their finances without having to visit a physical bank branch.

Technology plays a crucial role in the banking sector by enabling banks to offer more convenient and efficient services to their customers. Digital banking allows customers to access their accounts 24/7 from anywhere with an internet connection, making it easier for them to manage their finances on the go. It also allows banks to streamline their operations, reduce costs, and offer new products and services that were not possible with traditional banking methods.

Overall, digital banking has transformed the way banks interact with their customers and has become an essential part of the modern banking industry. It has made banking more accessible, convenient, and secure for customers, while also helping banks to improve their efficiency and competitiveness in the market.