Digital Disruptive Tranformation of Banking

  • Accessing accounts through landlines begins

    4 large banks in New York city allows customers access to their personal accounts from home through telephone land lines.
  • Online Banking begins

    Online banking as we call it now first began with financial institutions allowing their customers access to accounts via the internet. Stanford Federal Credit Union was the first to allow customers to access their accounts in this manner.
  • Paypal Established

    Paypal was established. Money could be transferred from one person to another with a small transaction fee. This was the start to the first peer to peer payments.
  • Mobile banking starts in Europe

    European banks started offering mobile banking as an option. This is the first touch into mobile banking.
  • Paypal joins with Ebay

    Paypal reached a massive scale when they linked up with Ebay to expand into ecommerce
  • US releases mobile banking apps

    Major banks in the United States released mobile banking apps that would function and that customers would use. Previous versions were not successfully adopted.
  • Internet Banking grows even more

    Internet banking grew at a faster rate with the evolution of different services like mobile check deposit capabilities, EMV-chip debit cards, and better mobile banking applications.
  • The Digital Wallet

    Google introduced the digital wallet. This wallet allowed users to make payments, receive loyalty points and receive coupons. Only a few merchants used this option.
  • Apple Pay Released

    Apple released Apple Pay in the US and it spread quickly to the UK and China.
  • Android and Samsung Pay

    Android and Samsung released their pay system versions.
  • Zelle started

    Zelle was introduced that allowed instant money transfers from over 30 US banks.