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Types of Digital Banking Solutions for SMBs

Banking CIO Outlook | Friday, April 02, 2021

Core banking is a type of banking service offered by a networked group of bank branches, through which customers can access their bank accounts from any of the branch offices. Floating new accounts, servicing loans, calculating interest, processing deposits and withdrawals, and customer relationship management operations are examples of core banking services.

Fremont, CA: It can be difficult to identify the best digital banking solutions for your small and medium-sized enterprises. Because of mobile banking and personalized services, the banking industry is becoming increasingly complex. In this article, we'll look at the various options available to SMBs for finding the right fit with digital banking solutions.

Types of Digital Banking Solutions

Mobile Banking

This type of banking has dominated the banking industry in the twenty-first century. Banks provide mobile banking so that customers can access their accounts and conduct other financial transactions from anywhere using a mobile device or tablet.

Core Banking

Core banking is a type of banking service offered by a networked group of bank branches, through which customers can access their bank accounts from any of the branch offices. Floating new accounts, servicing loans, calculating interest, processing deposits and withdrawals, and customer relationship management operations are examples of core banking services.

Internet Banking

Similar to mobile banking, but with a larger screen. Customers can access their bank and conduct transactions via the bank's website. Although both platforms are used in digital banking, online banking is more reliant on the internet than mobile banking.

Doorstep Banking

Doorstep Banking, or DSB, is a service that allows customers to make cash deposits, withdrawals, check deposits, and demand drafts at their convenience. This can all be done using a service supplied by your bank, saving you from having to visit one of the local branches to perform routine banking operations.

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