Answer to Question #160188 in Management for P

Question

1.how electronic delivery channels complete the banking transaction ? (please answer in points in detail )

2.explain the importance of electronic delivery channels in the modern digital business environment ( please give at least 10 points for importance)

Answer 1

Electronic delivery channels help in completing banking transactions by offering the same transactions electronically that the customer would receive by attending a branch or main office. Mobile banking is one of the electronic channels where customers complete their transactions like deposit, withdraw, and send, request statements, consultation services, borrow loans and other service they receive after traveling long distances to the bank. Other electronic channels include ATM machines, self-service through computer, online baking, and internet banking.

Electronic channels have various benefits in the modern digital business environment. With the current digital transformation experienced in the society, businesses are embracing the same wave in conducting their transactions. Electronic channels saves time as customers or businesses complete transactions within the shortest time possible instead of traveling ling distances seeking the same services in the banks, financial institutions or other institutions. Electronic channels offers security measures that assures customers and other organizations that their savings, personal details, and transactions are safe by using passwords, encryption tools, and other identification measures before being allowed to transact. The banks and other institutions can reach many customers at the same time while clients can access various services using electronic channels.