Without a singular source of origin , the term ‘ smart banking ’ isn ’ t so easily defined . Broadly used to signal the implementation of technological processes in modern banking practices , both at the front and back end of operations , smart banking is inherently dependent on innovation to keep it a generation ahead of established systems . Indeed , Giovanni Caselli ’ s pantelegraph – introduced to French banks in 1865 – would have been considered smart in the 19th century , bringing about the authentication of signatures for cashing cheques . In this sense , then , it could be argued that smart banking has been ever-present since Barcelona ’ s Taula de la Ciutat , the first recorded banking establishment , opened in 1401 . The first bank was an innovation , or ‘ smart ’, in and of itself .