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The traditional process of banking or getting a loan used to involve walking into the neighborhood financial institution, sitting down with a customer service representative, filling out forms and discussing needs. Then, maybe a few days later, the customer could walk out with a check. The process is drastically different today, as the financial services industry has undergone a sea of changes. Today, if a person lives in New Jersey, it is perfectly normal to hold a bank account in, say, their home town of Austin, Texas. There is little reason to have a local bank account as several banking tasks can be done remotely. A customer can deposit a check via mobile banking, withdraw cash at an ATM or apply online for a loan.