Saving has long been part of daily living. The idea of offline banking is been made perfect with the help of technology. Unlike online or internet banking, offline banking requires no internet connection. This means that you can access your bank account, send money, pay bills all in offline mode.
Traditionally our forefathers practice this type of banking long ago. While it might not have occurred to them but they actually brought the first ideas of offline banking. In times past, most Africans would save money in a box. These savings are dug in the ground for further safe keeping. Maybe this was practice in other parts of the world or not. But this is how it was in the most part of Africa.
To make use of these savings they will have to manually dig out the box, take out some money and spend it. They didn’t have access to the internet but they understood that they can access their savings at will. Keeping money with a family member or friend is like online banking. The family or friend has been the network the links you to your savings.
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To avoid network problems (in a manner of speaking) Africans devised the method of offline savings above. This way they have easy access to their funds without fear of any intervention. This was important then and its still important today.
Technology has helped to shape the way offline banking works. The advantage of offline banking to online banking is pretty much. For example, you don’t need an internet connection to access your funds. Just like a box dug up somewhere, you just pick up your mobile device, dial a shortcode and make payment or pay bills.
Another important aspect of offline banking is its security. Cybercrime is rampant today and its advancing. Banking offline makes its difficult for you to be a victim of cyber attack. In times past thieves can easily attack a friend who is keeping your money(Cyber attack). But it was difficult for someone to know the secret location where you dug your money(except you give away the location and actual spot).
Same way today, the weakness of banking offline is giving out your PIN (like giving out the location). A flashback at how things were done in times past gives us a glimpse of how technology is perfecting the act securing banking operations.
Technology is playing its role in making banking easier. More banks are taking advantage of this type of banking. It is very convenient and you should try to make use of it. When we look around us especially in the banking and finance sector we should be happy we have the technology. Without technology, we’ll still be digging our savings somewhere.
The whole world is online and its time technology takes us offline. Offline banking is one step what other things will technology take offline. Online is good but offline is better and safer. You can CLICK HERE to check the list of some offline banking codes.