Downfalls of Traditional Banks

BNC Network
Jan 3 · 4 min read

We all know banking is a complicated and tedious business, as much as we’d like to avoid it there’s really no way around it. The leading factor that draws potential customers to a bank is undoubtedly that of trust. Based on the trust factor there are subsequent factors of which to avoid before choosing the bank that best suits you.

Hidden fees:


Customer service problems:


Loyalty is crucial:

danskebank research

Problems for small businesses:


The solution:

Given the increasing adaptation of telecommunications technology, it is not surprising that a growing segment of banking consumers prefer to conduct at least some of their banking business using self-service delivery systems. Most consumers are willing to accept increased technology in return for independence over their transactions. It is no secret that using technology-based services is far less expensive and much faster service, not to mention that many customers prefer technology-based services. This provides consumers with a high level of satisfaction ultimately resulting in customer loyalty.

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