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Mandla Ngwenya Finance Manager

What are the cost benefit analysis of internet banking?

Asked on May 9, 2013

I need to convince the board that the banking facilities we are currently using is costly for the company, what key benchmarks I can use. I am writing a paper for the board.

Answers

Regis Quirin Director of Finance • April 3, 2013

Just take an internet bank and compare it to a small local branch banking company. Try looking at Ally bank. They are not public per se but they are 75% owned by the government (your tax dollars at work). Compare Ally to a small public institution that does not have an investment banking arm. There are a few in NJ. It will not be perfect but directional. Just layer in recent press articles about multiple branch closures and you will prove your point.

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