Traditional banking & Mobile banking

Traditional Banking & Mobile Banking Differences,

Pros and Cons

Traditional Banking

Well, banking is an age old concept. Banks has various financial products like loan, bank accounts, etc.

In the strict definition, Traditional banking refers of the processes and operations of traditional financial institution known as banks. The banks allows customers to open a bank account for easier finance management and accessibilities. Plus, they also offer a range of financial products like loans. Nevertheless, this is what traditional banking is.

Mobile Banking (Future of Banking)

Mobile Banking is just like traditional banking minus all the downsides.

You see, for everything you need to visit a physical bank in traditional banking. But when it comes to mobile banking, all the user need to do is download a mobile app.

Through this mobile app, the user can access his or her bank account. In addition to this, they can get bank transfer, financial management, acquiring loan, send money, receive it, check balance, and so on.

Virtually the user never need to visit a Physical bank.