The ancient city that was the center of the banking system during the Renaissance was Florence. Renowned for its immense wealth and economic influence, Florence was home to powerful banking families like the Medici, who played an instrumental role in finance, culture, and politics during the Renaissance. The city became a hub of trade and banking, facilitating loans and investment that fueled artistic and architectural advancements. Florence's banking system allowed for considerable capital flow, leading to sponsorships of prominent artists and thinkers. The city's legacy as a financial center significantly shaped the economic landscape of Europe during this transformative era.