A New Era in Finance
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
Digital Banking: A New Era in Finance
Digital banking, also known as online banking or e-banking, is the use of electronic channels to conduct banking activities such as depositing, withdrawing, and transferring funds, as well as other financial transactions. It is a new era in finance that has transformed the way people interact with their banks, making it more convenient, secure, and accessible.
Digital banking has become increasingly popular due to the widespread availability of smartphones, tablets, and computers, and the internet. Customers can access their accounts and perform transactions from anywhere in the world, at any time of day or night, without the need to visit a physical bank branch. This has led to significant changes in the banking industry, with banks investing heavily in technology and innovation to stay competitive and meet customer demand.
One of the key benefits of digital banking is convenience. Customers can check their account balances, transfer funds, and pay bills online, without the need to visit a bank branch. This has saved customers time and effort, allowing them to manage their finances more efficiently. Digital banking has also made it easier for people to access financial services, particularly in areas where bank branches are scarce or non-existent.
Another benefit of digital banking is increased security. Banks have implemented several security measures to protect customers’ personal and financial information. These include two-factor authentication, biometric identification, and encryption technologies. Digital banking has also reduced the risk of fraud and theft associated with traditional banking methods, such as lost or stolen checks and credit cards.
Digital banking has also given customers more control over their finances. With online banking, customers can monitor their account activity, track their spending, and set up alerts for account balances and transactions. This has enabled customers to manage their finances more effectively, leading to increased financial literacy and better financial decision-making.
The rise of digital banking has also led to the emergence of new financial services and products. Fintech companies have leveraged technology to create innovative financial solutions such as mobile payments, peer-to-peer lending, and digital wallets. These products have disrupted traditional banking and financial services, challenging established players to innovate and adapt.
Digital banking has also had an impact on the way banks operate. Banks have had to invest heavily in technology and innovation to stay competitive and meet customer demand. This has led to the emergence of digital-only banks, which operate entirely online and offer a range of digital financial services. Digital-only banks have lower overheads and can offer more competitive rates and fees, making them attractive to customers.
Despite the benefits of digital banking, there are also some challenges. One of the main challenges is the digital divide, which refers to the gap between those who have access to technology and those who do not. In some areas, particularly in developing countries, access to the internet and digital devices is limited, which can prevent people from accessing digital banking services.
Another challenge is the risk of cyber attacks and data breaches. As more financial transactions are conducted online, the risk of cyber attacks and data breaches has increased. Banks and financial institutions have had to invest heavily in cybersecurity measures to protect their customers’ personal and financial information.
In conclusion, digital banking has transformed the banking industry, making it more convenient, secure, and accessible. It has given customers more control over their finances, enabled the emergence of new financial services and products, and challenged traditional banking and financial services. However, there are also challenges associated with digital banking, including the digital divide and the risk of cyber attacks and data breaches. Banks and financial institutions will need to continue to innovate and invest in technology and cybersecurity to stay competitive and meet customer demand in this new era of finance.
A New Era in Finance
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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