On The Other Hand, Banks Also Face Some Negative Aspects

1053 WordsApr 24, 20175 Pages
On the other hand, banks also face some negative aspects to online banking. One disadvantage is that they lose the one on one interaction with their customers. If people no longer need to visit the bank to conduct their transactions, the banks lose that special connection that they once had with their customers and for some customers they value that personal connection. Additionally, from the banks perspective, they do not get the opportunity to develop personal relations with their customers. The more personable the banks are with their customers the more secure their customers’ accounts may be. The bank tellers will be more able to keep a better watch on their clients’ accounts and may be able to detect any abnormal account transactions…show more content…
Conversely, customers also have negative views about online banking. One being the lack of personal relationships that are formed when carrying out all their transactions at the bank. People often find it easier to talk to another person about a problem they are having instead of trying to search online for the answer. Having a relationship with a professional at your bank that understands your personal needs often makes the customer feel special and help ease any worries that they may have when faced with any type of banking questions. Additionally, certain services such as notarization and bank signature guarantees are not available online. As previously mentioned, security is a major concern with online banking. Many customers are nervous about allowing a bank to have access and records of their sensitive and important financial information. Hacking and identity theft is a fairly common occurrence so for customers to be wary about turning over all their financial information to the internet is justifiable (Geoffrey). As technology becomes more and more advanced, the demand for new innovative technology grows as well. As a nation, we have been moving increasingly towards a more digital world and that is also true for our banking industry. The physical action of walking into a bank to execute our banking needs is becoming less common and online banking is taking its place. ATMs are also a version of online banking that has been a
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