Digital banking offers several benefits for both consumers and business owners. This is one of the fastdeveloped banking services and delivering products through electronic channels, offered to a customer on their internet-enabled computer, smartphone, or tablet etc. Digital banking helps customer to perform banking transactions electronically without visiting a bank or any other financial institutions. On this topic, you are required to complete the following tasks:
Introduction:
?Give an introduction about digital banking with the brief discussion on the benefits of digital banking.
Discussion:
i.Commercial banks play a major role on providing digital banking services to the consumers. On this topic, you are required to choose any one of the commercial banks existing in the Sultanate of Oman and discuss the various digital banking services offered by them to the customers.
ii.With the technological advancement and growing demand for digital banking services, commercial banks might struggle to cope up with the customer behaviour. Based on this concept, you are required to discuss the challenges of digital banking faced by the commercial banks.
iii.Due to the development in the banking system nowadays the banking services are faster and quicker, but at the same time it is challenging for the customers to safeguard their banking transactions from theft and fraud. Considering this, discuss the risks associated with this and the security measures are in place to protect the digital banking transactions.
iv.The shift from traditional to digital banking has been gradual and remains ongoing. On this topic, discuss the key differences between digital banking and traditional banking.
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