B2 Communicating With Customers Flashcards
What is telephone banking?
Banking transactions carried out over the telephone either through an automated system or by talking to a person over the telephone
What is an advantage of telephone banking?
Offer an ability to bank for people who do not have access to alternative methods
Enables instant access to balance data
Enables the ability to conduct instant transactions
What is a disadvantage of telephone banking?
Slower than using other forms of banking
Limited range of features that are available to the customer
Not as convenient and some banks charge for calls to their telephone banking
What is mobile banking?
The use of mobile devices to conduct financial transactions, this may involve downloading an app or on their website.
What is an advantage of mobile banking?
Continent for customers
Accessible 24/7
Technology may make the process faster
No additional charges
What is a disadvantage of mobile banking?
Limited range of services
Concerns over the security of using mobile applications
Have to have latest mobile operating system and data enable
What is postal banking?
Use of postal service to carry out paper based financial transactions
What is an advantage of postal banking?
Offers an ability to bank for people who do not have access to alternative methods
A physical form of banking that some people feel more comfortable undertaking
What is a disadvantage of postal banking?
Slower than using other methods of banking to complete tasks
There are limits on the tasks that can be performed using postal banking
Tends to be a service that many banks are cutting back on
What is branch banking?
A physical location of a banking corporation that provide face to face service for customers of a bank
What is an advantage branch banking?
Opportunity to develop a relationship and develop trust with the staff of the banking provider
Support on hand to get help with transactions or gain advice on products
Complex service can be provided
Provides the customer with a high level of confidence
What is a disadvantage of branch banking?
Can men’s travelling to a branch as many have closed/restricted opening hours
Times consuming as branches tend to be busy
What is online banking?
Accessing your bank account and catching out financial transactions through the internet
What is an advantage of online banking?
Quick and easy method of banking
Offers instant data that is near live
Access to wide range of services and application process
What is a disadvantage of online banking?
Takes time to set up and account and to work through security features
Some customers may not have the same level of trust in online services
Cannot withdraw cash online
Increased cybercrime risk
Facilities limited
Prone to hackers and cybercrime
