Digital banking is indeed a very convenient method of banking in terms of speed of transaction as well as reducing the need for travelling to a bank. Of course for specific needs visiting a physical bank is necessary but in general, digital banking is now becoming widely used. Especially for international transactions such as paying tuition fees to an abroad university. Nevertheless security is still a huge concern in all types of banking especially in digital banking.

Since the 1950s, developments in the financial services industry have created a financial technology infrastructure which most people never think about, but use almost every day. Commonly known as FinTech, it refers to any technology that automates and facilitates access to financial services.