With the advent of the Internet, we have fully entered what is called the era of communications.If it has always been said that having information is power, we can say that the Internet has democratized society as long as it is a means of equitable sharing of information. That it also distributes misinformation, legends and hoaxes.
But staying on the positive side, the Internet has been fundamental to the development of economies: from to publicize and sell products worldwide, to convey to images and documents instantly, etc. This has led to productivity gain, to save time on efforts that were previously more cumbersome.
Banks, of course, has not been immune to this information revolution. First, it has reduced the cost of internal management, to be faster and cheaper to move information, and moreover has saved hours of their employees to be now lots of paperwork that customers make on the Internet. Therefore, Internet generates additional benefits to the banking system because it increases your productivity and lowers your costs.
