A Solution to Financial Insecurity
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 Solution to Financial Insecurity
Digital banking has emerged as a solution to financial insecurity, providing convenient, cost-effective, and accessible financial services to people. Financial insecurity is a major problem worldwide, and it affects people of all ages, income levels, and social classes. According to a report by the Global Findex Database, around 1.7 billion adults worldwide do not have access to basic financial services, such as bank accounts, credit, or insurance. This lack of access to financial services is a major cause of financial insecurity, as it makes it difficult for people to save money, invest, or protect themselves against financial risks.
Digital banking offers a solution to this problem by providing a range of financial services that are accessible through the internet or mobile devices. This allows people to access financial services from anywhere, at any time, without having to visit a physical bank branch. Digital banking also offers several benefits over traditional banking, including lower fees, faster transactions, and more personalized services.
One of the key benefits of digital banking is its cost-effectiveness. Digital banks typically offer lower fees than traditional banks, as they have lower overhead costs and can operate more efficiently. This makes it easier for people to save money, as they can avoid expensive fees for services such as ATM withdrawals, wire transfers, or overdrafts. In addition, digital banks often offer higher interest rates on savings accounts, which can help people grow their savings over time.
Another benefit of digital banking is its convenience. With digital banking, people can access their accounts and conduct transactions from anywhere, using their mobile phones, tablets, or computers. This makes it easier for people to manage their finances, as they can check their account balances, pay bills, or transfer money without having to visit a bank branch. Digital banking also offers faster transactions, as money can be transferred instantly between accounts, rather than taking several days to clear.
Digital banking also offers more personalized services than traditional banking. Digital banks use artificial intelligence and machine learning to analyze their customers’ financial data and offer personalized recommendations and advice. This can help people make better financial decisions, such as choosing the right investment strategy or saving more money. Digital banks also offer a range of financial products and services that are tailored to the needs of their customers, such as budgeting tools, savings accounts, or insurance products.
Digital banking can also help people protect themselves against financial risks, such as fraud or identity theft. Digital banks use advanced security measures, such as two-factor authentication and biometric authentication, to ensure that their customers’ accounts are secure. They also monitor their customers’ accounts for suspicious activity and alert them to any potential risks.
In conclusion, digital banking offers a solution to financial insecurity by providing convenient, cost-effective, and accessible financial services to people. Digital banking offers several benefits over traditional banking, including lower fees, faster transactions, and more personalized services. Digital banking can help people save money, manage their finances more effectively, and protect themselves against financial risks. As digital banking continues to evolve, it is likely to become an increasingly important part of the financial landscape, providing people with the tools and services they need to achieve financial security.
A Solution to Financial Insecurity
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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