Banking is an industry that deals with credit facilities, storage for cash, investments, and other financial transactions. The banking industry is one of the key drivers of most economies because it channels funds to borrowers with productive investments (corporatefinanceinstitute.com)
Modern banking is involved with many other activities. It has FX departments, provides lease financing, helps in M & A, serves as investment bankers and also provides advisory services. The future of banking will focus on digital transformation, team integration, employee satisfaction, advisory services and data security, big data, remote workforce and block chain
Read MoreThe use of Accounting language which includes terms such as bookkeeping can be traced back to the mesopotamian civilizations. The first bank Banca Monte Dei Paschi di Siena was founded in 1472 Tuscany, Italy and is the oldest surviving bank in the world. The oldest central bank was found in Sweden, 1668 as Riksens Ständers Bank, and got named Sveriges Riksbank in 1867. Institutions in the industry include banks (central, retail & commercial, investment) insurance companies, mortage companies, and savings & loans associations.
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