Monday, August 24, 2009

Banking Evolution

When I began working for a bank, I did some research into the history of banking and money. It surprised me to learn that banking goes back to the Roman empire, where blacksmiths would store gold in their vaults and offer documents to their depositors attesting to how much value they had available. Eventually, this evolved to the point where people simply carried the documents, which other blacksmiths would accept in lieu of real gold, and the "checking account" was born.

Many would argue that banking has not changed significantly since the Middle Ages, but I find it interesting to see that some banks are still trying to transform the experience for customers. It is proof that even ancient professions have a lot to learn and a long ways to go to be the best that they can be.

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