Question

Using technology and communication systems in delivering banking products and services to customers, is known as

• A. Manual banking
• B. Traditional banking
• C. Hi-tech banking
• D. Personalized banking

Answer 1

Answer:

C. Hi-tech banking

Hi Tech Banking:

• It refers to the use of technology and the communication system in delivering banking products and services to customers.
• Hi-tech banking uses the internet and telecommunication as the delivery channel to conduct banking activities including deposits and withdrawal of cash, transfer of funds, payment of bills and premiums, checking of balances etc.
• In Hi-tech Banking a customers of a bank can process a transaction from anywhere at any time.