There is no denying that the future of banking is digital. While the financial industry has been increasingly witnessing a rapid evolution of digital technologies in the last few years, the added impetus of the COVID-19 pandemic is what has really sealed the digitalized fate of this sector. We are now witnessing banks quickly adapting and improving their digitalization tools to interact with their customers online. As such, we can see a multitude of virtual services like online account opening, P2P payments, mobile payments, and digital wallets quickly coming into prominence around the world.
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