Q.1.3 Banks are promoting online banking to their customers. Based on the statement above and also reading information in learning unit one and other sources: Q.1.3.1 List three advantages of online banking. Q.1.3.2 List three disadvantages of online banking.
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Q.1.3
Banks are promoting online banking to their customers.
Based on the statement above and also reading information in learning unit one and other sources:
Q.1.3.1 List three advantages of online banking.
Q.1.3.2 List three disadvantages of online banking.
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- Say you were hired to do marketing for a bank. You are expected to market the great interest rates for loans and savings account. When marketing a loan would it be more appealing to advertise the APR or APY? Pt 2 Say you were hired to do marketing for a bank. You are expected to market the great interest rates for loans and savings account. When marketing a saving account would it be more appealing to advertise the APR or APY? P3 A student puts $10,000 in a savings account that pays 16% annual interest, compounded annually. How much money will the student have at the end of 5 years? How much interest will the student have earned in 5 years? What is the effective yield (APY)? Ending Value: $ (round to the nearest cents) Interest: $ (round to the nearest cents) APY: (written as a decimal, round to the second decimal place)Which of the following is true about M-Pesa? a. virtual cash can be swapped and transferred between mobile users with a simple text message and a system of codes b. a network which provides financial and policy advocacy suppot to MFIs c. a for profit insurance company that provides simplified single risk products to microfinance customers d. a zero interest peer to peer lending platformC. Online Banking is a product that becomes increasingly important with the increase in online business. Customers via online banking can have an access to their fund without having to go to the bank. In order to avoid the customers' fund from becoming vulnerable to scammers while conducting banking activities online, banking institutions have taken several security measures. REQUIRED: Explain FIVE (5) security measures imposed by banking institutions for allowing an online access to customer fund.
- Your friend Binna has a money market mutual fund account, automatic deposit of her paycheck into an interest-bearing checking account at the company credit union, and a CD from the local branch of a bank that advertises "coast-to-coast" banking. What is the benefit of "mixing and matching" financial institutions and their services? Question content area bottom Part 1 What is the benefit of "mixing and matching" financial institutions and their services? (Choose all that apply.) A. Increasing the flexibility of managing funds. B. Increasing risk due to increased investments. C. Minimizing service charges and other fees. D. Maximizing the returns and features from combined accounts.Does Quickbooks offer online payment processing? What would be the advantages and disadvantages of using online payment processing? What do you recommend for your company?A bank is considering implementing a business rules management system for assessing the riskand creditworthiness of individuals as part of the loan approval process.• List and explain 3 benefits of such a system?• List 2 potential legal or ethical issues that might arise in the use of such a system
- How do you create a loan in Quickbooks? A. Select Banking > Create Loan B. Use the loan manager C. Create the loan account D. Create a liability accountresearch two local banks in your area and compare/contrast one service that they offer. For example you may want to look at the type of checking accounts offered and compare the features between these; What are the interest rates offered? How many withdrawls are you allowed? What fees are associated with the account ? Do they offer a budgeting app, online banking etc? You could do this for savings accounts, buisness accounts, etc. Discuss what features you find most important, and which bank you would choose based on your research.Given the onset of online/digital banking nowadays, what are the risks thatpeople are faced with when they do digital banking? What are remedies to theserisks
- Cite at least 5 differences between online to traditional banking ?1. What makes Information important in credit and collection?2. How does technology enhance the collection process of a business?3. What is the function of Credit and Collection Department in abusiness?4. Provide reasons why company offers credit to their customers.justify all your answer.By giving clients with a variety of perks and advantages, as well as taking measures to keep them as customers, they need to attract and retain customers. Is there a way to fix this in the banking sector?