After years of customer feedback, Bank of Bux is finally going paperless. The bank's communications team promoted the strategy both internally and externally. Customers were strongly encouraged to utilize the bank's website and mobile system for all their banking needs. Customers unfamiliar or uncomfortable with online banking could sign up for workshops where employees show them how to navigate both the bank's new website and mobile app. The bank's initiative demonstrates (1) a costly effort because at least 50% of all customers still prefer a paper trail due to safety concerns such as identity theft, when it comes to online banking. (2) an area where the firm can contribute to the green effort, as well as cut costs. (3) an effort to not be left in the lurches by its competitors who are using state-of-the-art website technology. (4) a gimmick for cutting costs that watchdogs will soon uncover.

Question

Ansley Woodward

Business

16 December, 00:40

After years of customer feedback, Bank of Bux is finally going paperless. The bank's communications team promoted the strategy both internally and externally. Customers were strongly encouraged to utilize the bank's website and mobile system for all their banking needs. Customers unfamiliar or uncomfortable with online banking could sign up for workshops where employees show them how to navigate both the bank's new website and mobile app. The bank's initiative demonstrates (1) a costly effort because at least 50% of all customers still prefer a paper trail due to safety concerns such as identity theft, when it comes to online banking. (2) an area where the firm can contribute to the green effort, as well as cut costs. (3) an effort to not be left in the lurches by its competitors who are using state-of-the-art website technology. (4) a gimmick for cutting costs that watchdogs will soon uncover.

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Answers (2)

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Grace Hill · Answer 1

2) an area where the firm can contribute to the green effort, as well as cut costs.

Explanation:

Banks and most private companies are continually looking for ways to reduce costs so that they can make larger profits. In this case, the bank will probably cut some costs by not using paper anymore.

The fact that it can be seen as a green effort is a plus to the cost saving. Green efforts are usually heavily publicized, even more if it's a bank. Banks usually have bad reputations so whatever makes them look good, and better if it's free (or in this case they even save money), just suits them perfectly.

Koba · Answer 2

Ok So The Answer Is Feedback is If Bank Of Bux Doesn't read it then they are going to go paperless