A word that has changed operations of economy and finance. In last 10 years, we have seen amazing changes in the banking sector that were trending us. Our fathers used to go to bank every day and collect money when there was nothing like ATM and cards. Then innovation and internet changed the world and people realized the power of it, people desired to have the freedom to access to their money anytime at any place! So, banks worked their best to make it possible, And so today we all use a plastic card and withdraw our money anytime anywhere. Recently, cheque depositing and passbook printing process is replaced by automated machines. All changed, isn’t it ? Still for jewelries and documents kept in bank’s vaults we need to take out time from our schedule visit the bank and go through cumbersome process and we finally get access to our assets. Phew! Tiresome! But what if we can get access to out assets in bank vaults anytime with a simple process. Sounds like Day dreaming now. But, it will be possible really soon with the help of latest technology and connectivity, a system of smart vault has been launched. It is designed in such a way that with the help of your Debit card and fingerprint, You can access to your possessions put into smart vaults any time. The robot will bring your personal vault out of secured chamber and It is automatically arranged back to its place by system. ICICI bank has come up with a concept of smart vault, currently it is under construction and will be soon made available to the people of Delhi first. This project is obviously experimental but the trending team finds it as the future of safety vaults in banks. After the launch, surveys and feedback will reveal whether the concept of smart vault is worth adopting or not. But just like any other idea it also has its pros and cons. When it is providing us with great amount of flexibility, the whole concept is digitized. Hence, immense care has to be taken regarding the security of irreplaceable possessions of people. Hacking such systems can be a prime target for few unethical hackers. Thus banks will have to take crucial care regarding digital security. When technology is driving our world to new milestones, all we can do is hope for the best and enjoy the ride! (For even better understanding, visit here)
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