here’s the picture of different kinds of banking. and here the differences. for them explained i’ll send a message or vice verse. does not have enough room
DIFFERENCES.
In traditional Banking, borrowing money from the public and lending them to business units constituted the main functions of a bank. When the banks became profit conscious and wanted to give more emphasis to profit generation, they started focusing on fee-based business. As a result, they started rendering different types of service oriented functions, which are called General Utility Services. These formed the subsidiary services of the bank. These included providing of safe locker facilities, Issuing of Letters of Credit, Dealing in Foreign Exchange, and underwriting loans floated by the Government, Modern day banks have been using the technology based services or electronic banking. The banking services are being rendered very fast and efficiently. Thus in traditional banking the services are slow, but personalised; whereas in modern banking, due to the introduction of technology, the services are rendered fast. The physical and space barrier are removed completely and one can do banking 24 X 7, that is all round the year on all days from anywhere. The services are also rendered fast.
