Not long ago, withdrawing 100 cents from a bank meant going to a branch, completing a withdrawal slip, waiting in line for a token, and waiting for your turn at the counter to get your cash.
The process was just boring, and annoying, that one could do anything very good to avoid going there too much. As a result, most people have had their rupee extended slightly before being forced to make the next trip to the bank. All other banking activities were equally difficult and time consuming. And most of all, you had to deal with the extreme and irrational behavior of employees. They behave, and some still behave, as if they were doing you a great favor. Never mind that you are responsible for your own finances, and that your culture pays their salaries, making you feel like a beggar. It is not surprising that people hate banks, and going to the bank was such a big job.
Thankfully, things have changed so much these days that banking is almost a joy. With ATMs everywhere withdrawing cash is faster, easier, and hassle free. No more endless queues, no more bad predators, no more waiting. All other types of transactions have been simplified as well. You can place checks in the pull-out boxes at all ATMs, instead of placing them at the branch yourself. From credit card payments to payment of your credit cards, ATMs, and online banking are easy ways to accomplish many banking transactions. You do not even have to leave your home. Pick up the phone and call your need, log in to the bank's website and click on your way to your banking solutions. And with the advent of online money and map apps, you no longer need a bank account! Even sites like Amazon are starting to take action now, and online transactions for DMAT accounts mean you can invest, manage, trade and get rid of everything, without going into a bank or looking for a Broker or Chartered Accountant!
Even things like loans have become much easier! You no longer have to feel like a beggar come and ask the king and the king to give you a small piece of their largesse. The customer is no longer a beggar, and while he may not yet be a master, at least he has a chance to gain something. In addition, with the private and international banks competing in the Indian subcontinent, banks, old and new, have finally realized that they are in the service industry. Unless they teach their employees to smile, and be fun to customers, the customer will take their business elsewhere.
However, all of these plus points are non-existent except for a few errors in tow. Banking is now a private affair, and a person no longer builds a relationship between a bank, a branch, or an employee. While telephone banking and netting have made life easier, they have also increased your security risk, and the risk of identity theft and other forms of fraud have increased. Also, worst of all from the new generation view, easy access, provided by ATMs and applications, has made it much easier to overuse. Credit cards are dangerous in the hands of the untrained, or in a hurry, and in general, traps are common.
So that means a few things for both customers and professionals in BFSI (Banking and Financial Services Industry). Where customers need to learn the proper use of a few apps and sites, and exercise caution in using and sharing information, professionals have a heavy responsibility. It is no longer a "Bank" that lives in a cubicle and frees itself up on paper and over people. It is very important that you are familiar with the basics of various technical platforms, as well as understanding the skills of financial studies and accounting. In addition, the efficient, effective, efficient banking industry today must also be proficient in communication across all media, nuances and variations of face-to-face sales or by telephone or online. They have to learn the art of “connecting” people in 30 seconds or less, learn to adapt to the fast-moving world, and acquire certain skills set up for online marketing and operation. This is no longer a requirement for the future, it is important today! The future now!
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