Branchless banking Vs traditional banking: An overview
The financial world is transforming very fast. Traditional banking, with its long history, has been the foundation of global finance for centuries. However, these Traditional banking systems are facing competition from branchless banking. Branchless banking is a more recent development. It focuses on making banking easy and quick. However, both traditional and branchless banking solution have important roles today. Traditional banks rely on physical branches to offer services, branchless banking leverages digital platforms, allowing customers to access their finances remotely. Both models aim to provide essential financial services. But they work in different ways. They also provide different levels of convenience and reach. In this article, we will look at the main differences between the both banking models. We will also talk about the benefits and challenges of each model. What is Traditional Banking? Traditional banking is the conventional financial system. These ...