Banking refers to the transactions and services performed and offered by a bank for its customers. It is a financial institution that is licensed to accept deposits from the public while simultaneously making loans. 

It can be done offline, online, or both ways. While it can be done offline through a bank’s brick-and-mortar branches, a new breed of banks that only maintain an online digital presence are making inroads into the modern banking system. These digital banks offer online services through web platforms and mobile apps.

Another major revolution in the banking sector is the evolution of Digital Wallets or e-wallets for making financial transactions. These wallets are accessible via mobile devices and are revolutionizing the way finances are being managed.


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