The Advantages of Digital Banking for Customers
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
The Advantages of Digital Banking for Customers
Digital banking, also known as online banking or electronic banking, is a modern-day banking solution that allows customers to access their banking services from the convenience of their homes or offices. With the growth of the internet and mobile technology, digital banking has become increasingly popular over the years. In this article, we will discuss the advantages of digital banking for customers.
Convenience
One of the most significant advantages of digital banking is its convenience. With digital banking, customers no longer have to visit a physical bank branch to carry out banking transactions. They can easily access their accounts, check their balance, transfer funds, and pay bills from the comfort of their homes or offices. This saves customers time and reduces the stress of having to physically go to a bank branch.
Accessibility
Digital banking has made banking services more accessible to people who live in remote areas or have limited mobility. With online banking, customers can access their accounts and carry out transactions from anywhere in the world, as long as they have an internet connection. This means that customers can stay on top of their finances even when they are on the go.
24/7 Availability
Another advantage of digital banking is that it is available 24/7. Customers can access their accounts and carry out transactions at any time of the day or night. This is particularly useful for people who work long hours or have busy schedules, as they can carry out banking transactions outside of normal banking hours.
Lower Fees
Digital banking services are typically cheaper than traditional banking services. This is because banks do not have to maintain physical branches or employ as many staff to provide customer service. As a result, they can offer lower fees and better interest rates to their customers. This is particularly beneficial for customers who carry out a lot of banking transactions, as they can save a significant amount of money on fees.
Increased Security
Digital banking has also improved the security of banking transactions. Banks have implemented several security measures to protect their customers’ personal and financial information. These measures include two-factor authentication, encryption, and fraud monitoring. Customers can also set up alerts to notify them of any suspicious activity on their accounts.
Faster Transactions
Digital banking has made banking transactions faster and more efficient. Customers can transfer funds between accounts, pay bills, and carry out other transactions with just a few clicks of a button. This eliminates the need for customers to write checks or wait in long lines at the bank.
Better Account Management
Digital banking also makes it easier for customers to manage their accounts. They can view their account balances, transaction history, and other account details in real-time. This allows them to stay on top of their finances and make informed decisions about their money.
Personalized Banking Experience
Digital banking also provides customers with a personalized banking experience. Banks can use data analytics to understand their customers’ financial behaviors and preferences. This allows them to offer customized products and services that meet their customers’ specific needs.
In conclusion, digital banking offers numerous advantages to customers. It is convenient, accessible, available 24/7, cheaper, more secure, faster, and provides a better account management experience. As a result, more and more people are turning to digital banking as their preferred banking solution.
The Advantages of Digital Banking for Customers
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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