Banking_Reflection

The banking industry was a more interesting topic than what I expected. I figured there would be a lot of boring information that might include hard to understand bank data. There was some of that, but the history was quite interesting how the industry has evolved technologically. The technology side of the banking industry was very interesting. It was really neat to see how the banking industry started out with a new technology, credit card, and see it evolved in the tracking to the overall way a bank is ran with the technology that is available today. The technology has made it easier for consumers to bank without even going into a bank. Consumers can bank at home on their computer, they call find out their balances on their account from their smartphones, they can receive their payroll checks through direct deposit from their employer and they can even take a picture a check and deposit it into their savings or checking account from their smartphone. This can all be done 24 hours a day without going into their respective bank. The outlook for the future for the banking industry will need to continue to use technology and expand on the technology that is already in place. Consumers have grown to expect the technology that is already in place, so there needs to be a continued effort to expand what is already in place. How they will increase this is unknown, but who would have thought ten years ago that you could deposit a check by taking a picture of it with your phone.