Friends, by now we have seen traditional banking and need for change to become digital. In the second segment, we shall cover aspects such as growth of internet banking, mobile banking, and rise of new concepts since 1996 called as direct banking concept. We shall also cover usage of smart apps in non traditional banking areas such as budgeting, financial planning, investments, etc, etc. Following our story of digital banking creating internet banking site was a default step in moving from branch banking telephone banking to web based banking. Last year 2000 internet banking sites were the key project across the world. However, initially in 1980s, Citibank and chase developed earlier generation of internet banking, and Bank of America could acquire more than 3 million customers by 2001.

Internet Banking was a buzzword for every bank across this planet. And banks debated heavily whether internet banking is mandatory, or that's optional. So internet banking was a major step in initiating this digital banking era. But by the way, that was only a start. Between the year 2000 to 2015, every offering with a physical branch used to offer was transition to online accepting pure cash transactions which cannot be done online and it has to be done only in the branch or ATM. So why becoming digital every bank are a true web real estate which can be browsed either on a desktop or mobile as against Global practice of receiving paper based bank statements in his or her mailbox, customers can now download the entire data just at a press of a button on the internet.

And the science and the art of customer experience and a website became an important element in connecting with the customer. However, in the initial period, websites were very crowded and cluttered. Now in the new avatar, websites will become most customer friendly, neat, well defined with minimum clicks and easy to navigate. Let's begin studying mobile banking in more details historically, first mobile bank was built by zek Republic bank called expand dia bang are also a German bank, as you know, called as dosha bank. And all that was as early as 1990 Most of the banks worldwide offered only SMS banking till 2010. And many banks in US and UK started providing holistic mobile banking solution only post 2010.

For example, in UK, Barclays developed a full fledge mobile banking in 2012. There is a paradigm change in the way customers used to interact with the bank. In the past banking interactions were more targeted towards a branch. For example, a customer who does whether there is a branch near my house or the ATM near my house, is your branch open till 3pm Is there a phone banking with you, etc, etc. And all of that is being taken over by simple questions such as whether your bank has a good mobile application though there you have good mobile labs whether you provide social media Connect etc etc. and rest all the channels such as branch ATM call center are nothing but complementing his or her mobile banking.

And by the way, this is bringing great change in the business model the front end as well as at the bank and and banks have to spend millions of dollars to make those changes. Let us also study the history of internet only banks, this internet only banks were called as direct banks as they did not have any branch. So, how could a customer get a holistic banking support all of these banks which can be called as direct banks have a good ground support in terms of tele banking at the minimum and some banks have some one or two branches and some of these banks also have Minimum a team's to support a customer. Only an example of direct banking starting 1995 were eg a bank and first direct in UK. Le bank in us. img bank in US and Canada, Gounon SBI.

NET bank in Japan and you bank in Australia. In 2008, the world's first mobile only bank was formed by a bank in Japan. It was formed as an alliance between Bank of Tokyo, Mitsubishi, and kddi, the Japanese telecommunication company. This mobile only bank was supported by bangs on channels, carriers, tele banking, and few branches of bank of Tokyo. And let's talk about the latest scene. This is a letter sensation called munzo Bank in UK with smartphone only bank This was established in the year 2015, and has already taken many other banks by storm.

While we talk of internet and mobile banking, looking at the needs of new generation customer, many software vendors have created specific apps to help them manage their finances. Let's look at examples of tweakin and mint, who are PFM or personal financial management vendors. And they are supporting the needs of new generation in managing their finances with budgets and trend analysis. At the end of the day, mobile users of today will look for validation in his or her life for making quick and smart decisions.