Not too long ago, withdrawing a hundred rupees from a bank meant going to the branch, filling in a withdrawal slip, waiting in line to get a token, and waiting for your turn at the teller’s counter to give your money.
The bus process was so boring, and irritable, that a lot would have to be done to avoid going there too much. As a result, most people raised their rupees slightly before being forced to make the next trip to the bank. All other banking activities were also equally cumbersome and time consuming. And to do all this, you have to deal with the brilliant and rude behavior of the employees. They behaved, and some still behaved, as if they were doing you a big favor. Never think that you are working with your own money, and that your custom paid their salary, you still feel like a beggar. No wonder people hated banks, and there was such a huge rush to go to the bank.
Thankfully things have changed so much these days that banking is almost a pleasure. With ATMs that have sprung up everywhere to withdraw money, it is fast, easy and hassle free. No more endless queues, no sick men told, no more waiting. All other types of transactions have also been simplified. You can drop the check box in the branch, instead of depositing them in the branch. The simplest methods of banking are everything from paying bills to paying for your credit card, ATM and phone and Internet banking. You don’t even have to leave your house. Pick up the phone and call as per your need, log on to the bank’s website and click your way to your banking solutions. And with the advent of money apps and online mapping, you don’t even need a bank account! Even sites like Amazon are now getting into the act, and online transactions for DMAT accounts mean you can invest, invest, trade, and liquidate, all without Step into a bank or see a broker or chartered accountant!
Even things like loans have become very easy! Now you do not have to feel that you come to beg Swami and Swami, so that you can give a small piece of their larva. The customer is no longer a beggar, and while he / she may not yet be king, they are in a position of at least some benefit. In addition, private and international banks fighting it out in the arena in India, banks, old and new, have finally realized that they belong in the service industry. Until they teach their employees how to smile, and treat customers well, customers will take their business elsewhere.
However, all these pluses are not without some minuses in tow. Banking has now become very impersonal, and no longer forms a relationship with a particular bank, branch, or employee. While phone and net banking have made life easier, they have also increased your security risk, and phishing and other types of scams are increasing. And, worst of all from the younger generation’s point of view, the easy access provided by ATMs and apps has made it very easy. Credit cards are unspecified, or impulsive, and overall dangerous, the trap has increased manifold.
So this means some things for both customers and professionals in BFSI (banking and financial services industry). Where customers need to be careful in learning and spending the proper use of certain apps and sites and sharing information, there is a heavy burden on professionals. It is no longer enough to be a “banker” who sits in a cubicle and smacks it on paper and on people. With mastery of subject skills in finance and accounting, it has become necessary to master the basics of a range of technical platforms. In addition, a qualified, employable, successful banking sector employee today must be skilled in communication across the media, making the difference in face-to-face and phone calls or online sales. They must master the art of “hooking” people in 30 seconds or less, keeping pace with this fast-moving world and acquiring specific skill-sets for online sales and service. It is no longer a necessity of the future, it is a need of today! the future is now!