Personal communication between financial institutions and their customers will always be important in the delivery of some financial services, especially to older customers and smaller businesses. However, the cost of these traditional communications methods is rising, so their economic advantage over electronic methods continues to decline.

Question

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Personal communication remains crucial for certain customer segments like older customers and smaller businesses due to their specific needs and preferences. However, as the cost of traditional communication methods increases, electronic methods become more economically advantageous due to their lower costs and scalability.

Personal Communication Between Financial Institutions and Their Customers Will Always