Communicating With Customers Flashcards
(5 cards)
Branch
Physical places where the customer will visit to carry out transactions which can be face to face e.g. over the counter transactions or ATM
+ Opportunity to build a relationship developing trust and brand loyalty
- Restricted to bank opening hours
Online Banking
The use of the internet to carry out banking transactions
+ Available 24/7
+ High degree of privacy
- Increased risk due to cyber crime
Telephone Banking
When transactions are carried out over the telephone
+ Convenient, especially to access basic functions such as
checking a balance
- Call centres and automated telephone systems can frustrate
Mobile Banking
the use of mobile devices such as mobile phones and tablets to conduct financial transactions
+ Convenient
+ Available 24/7
- Higher security risk due to increased risk of loss or theft of mobile devices
Postal Banking
the use of the postal service to carry out paper-based financial transactions
+ Traditional System that many customers will feel comfortable with
+ Does not require any additional technology or devices
- Can be slow due to the postal system
- Post can get lost