Allowing customers to make transactions online is known as digital banking. Digitalization of banking and finance provide comfort to customers to access account details, perform transaction, and make payment from anywhere to anyone. Internet banking, online banking, mobile banking, PayPal, etc. are several e-transaction systems available. The operational transparency, authenticity, and tax issues became easy for the government, bankers, and customers. Surely, the challenges and risks of cybercrime increased being a sector of currency. Safety and security with regard to cyber-criminals, hackers, and crackers, is covered in detail in Chapters 3 and 4. The approval given by many worldwide governments to the cryptocurrency and Bitcoins as future currency of the digital world. The functionality components, the impact of digitalization, and the technological revolution are covered. The feature of banking digitalization is high but advanced cybernetics is yet a concern for the future.