In today’s digital age, your smartphone likely handles most of your banking needs. Yet, while online banking has become a familiar tool, the concept of digital banking represents a new frontier. This exploration of “online banking vs digital banking” uncovers the evolving landscape of financial services, inviting you to delve into this innovative horizon.
Online banking
To make sure we’re on the same page, let’s briefly explore the details of online banking.
It can be defined as any form of personal banking conducted on the internet – from checking previous statements to setting up direct debits, paying bills, transferring money, to simply checking your balance as an individual.
Digital banking
Digital banking is more encompassing. It refers to all forms of financial transactions conducted with technology. Therefore, one could say that online banking is a form of digital banking.
Another key distinction is the fact that online banking is a service offered by brick-and-mortar institutions, meaning that opening an account typically requires travelling to your closest branch at some point or another. By contrast, digital banks have no physical location and can operate all their financial services through your phone.
Alpian goes even further and unifies everyday banking with accessible investment and private banking services in a hassle-free mobile app so that your financial life fits comfortably in the palm of your hand.
To learn more about Digital Private Banking and how this can benefit you in achieving Wealth Beyond Money, click this link.
