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Financial technology continues to move forward as time progresses. Many of the most advanced algorithms, AIs, and tool integrations have been used on fintech platforms. Available today are robo-advisors, micro-investing …
Banking is a polarizing subject for most. People tend to have strong opinions about their finances, and they stand by their decisions. However, many banks have become privy to the …
With technology becoming more and more advanced, it only makes sense that companies are becoming more advanced. Some of the most advanced companies are financial institutions. Because they have to …
Most people are constantly thinking about their retirement. It’s the time in life where hard work pays off, and relaxation can finally be had. However, there’s more than one road …
CIT Bank vs Marcus; Which Of These Two Online Banks Best Suits Your Needs?
The banking industry is known for its strong customer loyalty. This is because customers prefer to stick to a single bank until something tragic happens and forces them to shift. Well, this has been in place when traditional banks were the dominant players, but online banks are changing things in this industry.
They have impressive offerings that will even tempt the most loyal customers. This is partly because they have little overhead costs, which allows them to offer cheaper services and better rates. The threat has been tremendous to the point that traditional banking giants have been forced to incorporate online services to counter the offerings by these online banks.
CIT Bank vs Synchrony Bank; Which is The Best Online Bank for You?
Online banks continue to give traditional ones a race for their money. They have attracted a lot of customers thanks to their better rates and improved services. We live in a digital era, and people no longer relish going to traditional bank halls for transactions.
The enhanced access to the internet and the rate at which people embrace smart gadgets have changed the perception of many banking customers, as they have realized that they can do all they used to do at the comfort of their home.
But how do these banks manage to offer better rates to customers and surpass the traditional banking players?
It all goes down to their business structure and what they focus on.
Traditional banks spend millions on maintaining their brank branches and sustaining their employees. This amount is spread out to the customers in the form of account charges and reduced rates. In their defense, they need to get this m