Economics · Banking Services

Which of the following statements is correct regarding branch banking compared to digital automated channels?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Physical branches have become completely obsolete and serve no purpose due to mobile banking.
2Branch banking provides personalized customer interaction but has higher operational costs.✓
3Digital channels have higher transactional and operational costs than physical branches.
4Branch banking completely eliminates operational risks.

Correct answer

Branch banking provides personalized customer interaction but has higher operational costs.

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