The Medici Bank, founded by Giovanni di Bicci de' Medici, was one of the most prosperous and respected institutions in Europe. The use of double-entry accounting allowed the bank to track debits and credits accurately, manage risks more effectively, and maintain transparency with their clients. This increased the trust that other parties had in them, which was crucial in the banking industry.

The Medici Bank, founded by Giovanni di Bicci de' Medici, was one of the most prosperous and respected institutions in Europe. The use of double-entry accounting allowed the bank to track debits and credits accurately, manage risks more effectively, and maintain transparency with their clients. This increased the trust that other parties had in them, which was crucial in the banking industry.