Banks are divided into 5 categories

1. 1st generation (1970-1988)

2. 2nd generation (1989-1999)

3. 3rd generation (2000-2010)

4. 4th generation (2011-till now ) . 5th generation is yet come . But my prediction is in 5 th generation there will be no bank .

Banking system will be available . But there will be no physical version of bank will be available . People will be doing their banking through online sitting on their home . The concept of invisible banking will be soon published .

The technologies involve –
artificial intelligence
analytics
personal financial management software
Internet of things
voice banking .

This is banking you don’t have to think about. You tap to pay. You drive out of a parking lot and the car pays the parking fee. You tell the bank you’re saving for your daughter’s college tuition and money is automatically moved from your checking account to a special tuition savings account at appropriate intervals. You’re offered a loan or a discount at the moment you need it, at the time you’re making a purchase.

Canada is the best country in the online banking system

World’s first invisible bank
Neo bank :

The history of Neobank :

The term neobank has been in use since at least 2016 to describe fintech-based financial providers that were challenging traditional banks. There were two main types of companies that provided services digitally: companies that applied for their own banking license and companies in a relationship with a traditional bank to provide those financial services. The former were called challenger banks and the latter were called neobanks.

Neobanks vs. Online Banks


Neobanks are largely online-only banking platforms that lack branches, but they shouldn’t be confused with online banks. Generally speaking, online banks have a bank charter and provide a broader range of services to their customers, including loans. Ally Bank, for example, is considered an online bank.