Banking Industry
The first recognizable banks developed in medieval Italy - the term 'bank' deriving from the merchant's market place bench which in Italian was called a 'banco'. The best known example of a medieval bank was the Medici bank, which was established by the powerful and wealthy Medici family of Florence in 1397. It had branches and representatives throughout Europe. Many Italian merchants from Lombardy came to London at this time to set up in business as money lenders and the banking center of the City of London, where they settled, is still known as Lombard Street.
Today banking plays a vital role in our society and economy - the scale of transactions ranging from individual customers writing checks or using bank credit cards in shops and restaurants to enormous and complex payments by multinational companies across the world's great banking centers.
The banking industry is constantly changing and growing and banks that cannot keep up are quickly to lose......
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