Perhaps one of the greatest breakthroughs in civilization is the concept of banking. Banking paved the way to the creation of bigger corporations, complex institutions, more secure financial transactions, and global economic interdependence. People manage money through banking to make sure that the heard earned money that they acquire stays safe, healthily anchored in a national market, and easily accessible without having to hold on to the money itself.
Banks have been introduced since approximately 3 B.C. when temples held resources in terms of grains and other produce for commercial trading. Modern banking which standardized banknotes as currency was established during the 1500s and marked a new era of western banking as well.
Since then, banking have been brought to new heights with introduction of technology which allowed virtual banking while still being associated with real world currency. Faster transactions and larger volumes of money can now be transferred to any point in the globe with a global banking system with just a click of a button.
Managing money has been developed in consistency to provide ease of understandability and utilization for...