Banking Industry: Changing overtime through Technology (The Origin/History…
Banking Industry: Changing overtime through Technology
The Origin/History of Banking
Religion and Banking: 12-13th century
Fugger Dynasty: 15-16th century
the Habsburgs was the basis for Fugger's wealth
First fortune was textiles
first loan to Habsburg archduke in 1487
Interest rates were never less than 12 percent per year
Greek and Roman financiers: 4th BC century
take deposits and make loans,
Rome is good with administration
Adopts banking practices of greece
They have financial transactions
Moneylenders who can accept payment and arrange for credit in another
By 2nd century AD money can be discharged
Banks and Checks: from 16th century
Had simplified versions of bill exchange
In 1587, the Banco della Piazza is opened.
carrying out the merchants' funds for safe deposit
money lenders to private banks is the gradual subject in the 16th century!
Safe in the temple: 18th BC century
In Egypt and Mesopotamia, gold was kept in temples for safe-keeping
traders and government were desperate for them
In Babylon, there are records of loans that were made by the priests
Concept of banking begins
Temples were considered as the safest refuge
will discourage thieves
National Banks: 17th century
Bank of Sweden
Its existence appears in 1694 by arranging a loan (1,200,000 pounds) to the government
found in 1668 and is one of the most oldest "surviving" bank
Needs lot of reserve for gold
in 1617, the Banco Giro was created because the Banco della Piazza had problems with unsecured loans
Vaults were still pretty advanced as now back then because money was obviously very important since the ancient times.
With modern technology, vaults are now more advanced
Why does money in banks have to be so secure?
Money in banks are very essential to each and every person because it stores all the money that has different purposes.
Bank robbery was is currently a big and terrifying issue
It is very stressful and traumatic for those who have experienced because it leads to complex litigation.
I believe bank customers bring their money to the banks since they believe it is the safest place possible
It is actually a scary and intense place for money to be. It can never always be the safest place in the world and history.
In the U.S. there are about 5000 bank robberies per year
A famous robber, Willie Sutton says, "Because that's where the money is."
Most employees are trained in case of robbery :
Types/methods of payment
Magnetic stripe cards
Transfer of money from one account to another
Must include a third party
Channels in Banking Overtime
Pre-time era- 1900's
Customer and bank have can connect in one way
Customer can see the brand through multiple of ways using siloed communications
Customer sees the unified brand by many "touching points". It is a single customer view.
All the channels are available to the customer and everything is connected.
2015 and over
Customer and the "customer facer" have a real time access to a single user interface for the same information and data.