Banking · Banking Technology

How does the use of technology in banking impact the cost of services?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1It reduces the cost of services drastically by replacing manual processing with automated systems✓
2It increases costs as customers demand more branches
3It has no significant impact on service costs
4It increases cost due to high investment in staff salaries

Correct answer

It reduces the cost of services drastically by replacing manual processing with automated systems

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How does the use of technology in banking impact the cost of services?

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How does the use of technology in banking impact the cost of services?

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