Digital Banking Types and Benefits for Businesses

Many small and medium businesses complain about finding appropriate digital banking services or banks. With their limited budget they usually fail to avail the basic digital banking services.  Here we are going to discuss digital banking for your understanding.

Types of Digital Banking 

Core Banking 

As a collection of bank branches are networked together, core banking allows clients to access their accounts from any of the locations. Customer relationship managers play an integral part in the connectivity between banks and customers. 

Mobile Banking 

In the 21st century, this form of banking has dominated the banking sector. A number of banks now provide mobile banking, which allows clients to access their accounts and complete other financial activities through a mobile device or tablet. 

Internet Banking 

Though this is similar to mobile banking experience, but on a larger screen Customers can perform transactions using the bank’s website. Online banking relies more on the internet than mobile banking, despite the fact that both platforms are comparable in their use in digital banking. 

For the past decade the usage of mobile phones has influenced digital banking in UAE. 80% of the mobile users trust their internet banking via phone.

Doorstep Banking 

Clients can perform various banking activities su=ch cash deposits, withdrawals, and demand draughts easily through Doorstep Banking. To complete normal banking operations, you can use a service supplied by your bank. 

It goes without saying that the benefits of adopting a more technologically advanced method of doing things much exceed the drawbacks. As a technical by-product, digital banking also strives to make life easier for bank clients. The following are some of the benefits of using digital banking: 

Whether an elderly person who is weary of waiting in lines, a working-class professional who is overwhelmed with work, or an ordinary person who does not want to visit a bank branch for a single errand, digital banking allows customers to do banking tasks from the comfort of their homes. It’s also convenient. 

Digital banking offers users the convenience of being able to conduct financial transactions at any time of the day or night, with 24-hour access to banking operations. 

Traditionally, traditional banking put too much emphasis on paper. Digital banking as a service has made banking paperless. Logging into a user’s account at any time to check records is possible. 

It is possible to set up automated payments for utilities and credit cards using digital banking. Due dates are now automatically remembered by the consumer. If the consumer so chooses, he or she will receive reminders about impending payments and unpaid balances. 

Due to the integration of payment methods with online shopping sites, online buying has become a piece of cake for consumers. As a result of Internet banking, online payments have increased considerably. 

A cashless society is encouraged by digital banking since the government can trace monetary transfers. On a long-term basis, digital banking is projected to reduce a currency’s minting needs. 

An apparent step toward comprehensive development is the expansion of digital financial services to rural locations. Rural populations can benefit from digital banking services because of inexpensive cell phones and internet connectivity in distant locations. 

False money is less likely to be used when funds are transferred through digital banking.

A user can report and block missing credit cards using digital banking. As a result, a bank’s customers’ privacy and security are substantially enhanced. 


Mashreq bank knows the needs of its customers. For its convenience and advanced banking features Mashreq bank is known as the best bank in UAE for expats. By visiting Mashreq Bank’s website you can get further information.