Why are the number of traditional banking systems in industrialized and developed countries declining?

Short Answer

Expert verified

Reasons are:

- the massive prices of services.

-he methods of the standard system takes heaps of your time.

-there's no facility of on-line banking or enough ATM networks are not accessible

Step by step solution

01

Step 1. Introduction

The traditional banking system emphasises the physical presence of banks with offices and offering consumers with face-to-face services. In this case, the consumer must travel to the bank for each service he desires, and the bank must give him full attention.

02

Step 2. Explanation

The system has been declining within the industrialised and developed countries due to the subsequent reasons:
- the massive prices of services due to the enlarged body prices and the massive operative expenses of the standard system.
-the shoppers need to visit the buildingfor every serviceneeded during this systemthat consumesheaps of your time forthe shoppers so the employment ofthis technique has beenincessantly decliningand therefore the web banking isadditional renowned within the fashionable and developed economies.
- he methods of the standard system takes heaps of your time in each service they supply that makes the processes slow.
- there's no facility of on-line banking or enough ATM networks are not accessible during this ancient system that makes the developed countries avoid such systems and adopt one thing fashionable with a technological base in its operating.

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