Question

paragraph about the advantages mobile banking and online banking 150-200 word

Answer 1

There are several advantages of Online and Mobile banking. The most important cost of a bank is the salary of the employees. Physical banking requires lots of employees and are mostly permanent staff of the bank. Online banking reduces the need for so many employees. Reducing employees also reduces the pension obligation of the bank. Online banking is available 24/7, so users don't have to miss their important tasks, just to go to bank physically. Several bill payments can be completed at lightning speed. Commercial Real-Estate is costly to rent, once the employee strength is reduced, so the bank will not rent big commercial places for physical banking. The cost of the bank reduces so they can pass the profit to customers in the form of high interest payment. Digitalization is the future, printing notes is not good for the environment. Online banking reduces the pressure on physical cash and serves transaction through digital money.