QUESTION ONE

Rigo Bank has been in existence for over thirty years. They have served the community of Manso for all these years and the community is quite pleased with their services. Rigo Bank believes in maintaining the old acceptable ways of delivering banking services to its cherished clients and as such has not changed any of their services for the past 20 years. Three months ago, a new managing director of the bank, Mr. Kuma was appointed and he decided it is time for the bank to change from their old ways of delivering banking services to adopting electronic banking. He proposed some electronic banking areas they could start with and some members of the Board are not happy with his proposal but they have decided to give him the platform to defend his proposal before the members of the bank at the banks Annual General Meeting. The meeting comes off in two weeks time and you happened to be the personal assistant of Mr. Kuma. He has tasked you to prepare a presentation for him on electronic banking and its benefits to the bank and the customer.

Required

Discuss electronic banking and its benefits to the bank and the customer.