Technological innovations in digital space are slowly replacing the traditional banking setup in a big way. A few years ago, one had to spend considerable time to manage banking tasks like passbook updating, money deposits or withdrawal, cheque encashment, and getting a loan. What was more challenging back then was to wait in long queues at the counter and finally initiating the formalities, starting with long forms etc.
https://www.finworks360.com/innovation-use-of-technology-to-create-secure-and-seamless-lending/