In the recent years, the banking sector has received tremendous transformation through the use of technology. Not long ago, banks were seen as points of unimaginable quantities of paper and a place for long queues. Advancement in technology has tremendously caused a reduction in the need for labor and papers.
In the banking sector, technology is used in several ways. That includes online banking, automatic teller machines, financial integration, 24-hour access of the banking services, and globalization of the banking sector. People do not need to physical travel to make financial transfers; persons can efficiently manage their financial accounts through the online banking applications ( Frame & White, 2014) . Through the ATM, one can dispense their money on the spot when the need arises irrespective of the time. Technology has facilitated the global presence of the banking sector. That implies an improved business and hence increases in the number of profits.
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Technology has tremendously changed the banking sector in the recent years. Through technology, there are fewer errors and improved protection of the data and information. Earlier, the bank relied on human accuracy and skill, and that resulted in much mistakes and errors. The organization has experienced an improved customer experience ( Frame & White, 2014) . More previously, the banking experience was lengthy and tiring; that led to the poor customer experience. In the recent years, there has been an increase in the business intelligence and thus raised the profitability of the institution.
With the advent of technology, my duties and skills have changed. I have sharpened my technological skills to ensure I meet the demanding market transformations. My roles are currently technology based. They have shifted from the paper-based teller services to paperless teller duties. In the next three years, I will need the knowledge of banking system application development. Further, I will require the network to learn network configuration skills.
Reference
Frame, W. S., & White, L. J. (2014). Technological change, financial innovation, and diffusion in banking. The oxford handbook of banking , 271.
