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 Form 3 business studies revision questions and answers set 4

Explain five mode trends in the banking industry in Kenya.

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Answer Text:
-Introduction of automated teller machines
-customer care services. Most banks have set up customer care departments where customers can get
personal advice on various financial matters.
-m-banking-modern banking services allows the account holder to access his /her account anywhere by using a mobile phone e.g. mpesa services
-E-banking where customers are able to carry out some banking
transaction by use of internet.
-Most of the banks can give credit nowadays without requiring collateral security as was the case previously
-Use of computers in banks which has enabled quick and accurate transactions