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Digital banking is all about the delivery of banking services over the internet. The approach is modern and incorporates the contemporary requirements of virtual banking above physical banking.
Digital banking integrates several digital channels operated through the internet and offers digital banking services via mobile, interactive voice response, third party mobile applications like Viber and website.
Why Digital Banking:
As everything evolves and requires advancement, the banking sector cannot remain apart. Digital banking is an integrated form of online banking as a result of the requirement to advance towards risk reduction, efficiency enhancement, and serve customers in a better way. The digitization of banking not only has made the entire process smooth but also customer satisfaction has gone up.
A chart below helps you get the growth rate of Digital Banking above regular banking, basically with:
Advantages of Digital Banking
Digital Banking in the Context of Nepal
Digital banking started back in early 2000 in Nepal with the introduction of internet banking. However, it took quite a long for the approach to expand and impact regular lives. The infrastructure, awareness, and usage have increased immensely so far. Today many people are using online banking fundamentally via mobile banking and internet banking. People in urban and suburban areas are the major participants in this context.
However, the primary sector that digital banking should have the most impact on, i.e. the people in remote regions, is yet to be explored.
According to an oversight report from Nepal Rashtra Bank, the number of mobile banking users is 8,347,187 in the year 2075/76. Similarly, the number of internet banking users in the same year is 917,344 making the growth of 64% and 10% respectively.
Many people, especially the professionals are identifying the importance of online banking and hence contributing to the growth of digital banking awareness.
How to use digital banking safely?
Banking transactions on its own is a sensitive aspect. Managing it through several types of online banking makes it even riskier. Regardless of ample development in technology and infrastructure, one cannot rely merely on the governing bodies and must be aware of how to use digital banking safely.
The given safe digital banking tips will help you understand the important measures for safe internet banking:
Performing safe digital banking is our responsibility and we cannot afford to be insensitive on this important side. Carrying out some small yet important safety measures can save us from big problems. Why not contact us today and apply for digital banking.
Rest assured we make sure every bit of your digital banking is safe and we equally help you understand the practical safety measures as discussed above.
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