BANKING THE FUTURE: EMERGING TECHNOLOGIES AND THE RISE OF E-BANKING

Electronic banking (e-banking) is a transformation of conventional banking environment where modern digital technology has become a part of financial services. The chapter examines the emergence, development, and the influence of e-banking by looking at the ways it has transformed the practice of banking, relations with customers, and financial inclusion. E-banking is the provision of banking services via electronic media including internet, mobile-based apps, ATM, debit/ credit cards and digital wallets. These channels offer 24-hour access to financial services by customers who are able to execute transactions, inquire about balances, transfer funds, pay bills and get other banking products with convenience. The historical progress of e-banking is described in the chapter, starting with the computerization of the core banking services through the modern AI- and cloud-based digital ecosystems. It describes the main advantages of e-banking which consist of higher conveniences, lower operation expenses, better interaction with customers, and higher efficacy.