The most important banking area in which technology has impacted wholesale or corporate customer services is a financial institution's ability to provide:
A)cash-management services
B)residential mortgage lending
C)issuance of certificates of deposit
D)credit approval

Question

Quizplus · Accepted Answer

Technology has greatly impacted cash-management services provided to wholesale or corporate customers. With the use of online banking, mobile banking, and other technological advancements, financial institutions are now able to offer real-time monitoring of account balances, cash flow forecasting, and automated payment processing, among other services. This has greatly increased the efficiency and effectiveness of cash-management services, which are essential for any business. While technology has also impacted other areas such as credit approval, residential mortgage lending, and issuance of certificates of deposit, these are not typically considered core services for wholesale or corporate customers.

The Most Important Banking Area in Which Technology Has Impacted