What are the eras of banking?
Banking evolution spans distinct historical eras characterized by technological and structural shifts. The early era featured merchant banking and primitive coin-lending institutions operating in ancient and medieval civilizations. This transitioned into the foundational modern banking era marked by the establishment of national central banks and paper currency systems in the seventeenth and eighteenth centuries. The industrial era expanded commercial retail banking to support heavy commerce. Finally, the contemporary era introduced electronic banking, ATM networks, online financial management, and advanced fintech digital transformations reshaping global capital flows.
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