The banking industry, known for traditional practices such as banker’s hours and products like paper checks, has undergone major changes in recent years in efforts to keep up with new financial services trends and evolving technology.
Considering that the first electronic transaction took place about 30 years ago, and electronic images of checks replaced paper checks some 20 years ago, change in the industry has accelerated in recent years, according to bank officials. Today, their customers expect a variety of online services that provide them with round-the-clock access to their banks to deposit checks with mobile devices and check their account balances.
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