The digitization of the banking & financial services industry has transformed the way individuals do banking. Technological advancements in the banking, financial services and insurance (BFSI) sector, such as digital currencies, contactless payment, and mobile banking, are making physical paper superfluous. According to Research Dive analysts, cost efficiency and ease of use in financial transactions is projected to propel the growth of digital banking market in the coming years. By 2026, the global digital banking market is expected to reach up to US$1,702.4 billion increasing from US$803.8 billion in 2018. The Benefits of Paperless Digital Banking The COVID-19 pandemic has primarily changed the way the BFSI sector needs to serve its customers. The pandemic has created a growing dependency on technology for the sector and thus, various banks are experimenting with ways to bring the functionality & benefits of their services to their customers’ homes. Going paperless is
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