Internet Banks Offer Customers Better Interest Rates and Lower Fees

question 304

True/False

Internet banks offer customers better interest rates and lower fees because these businesses avoid the costs of constructing and maintaining a bank building.

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Definitions:

CRM Systems

Customer Relationship Management Systems; software solutions designed to manage a company’s interactions with current and potential customers, streamline processes, and improve profitability.

Customer Data

Information that a business collects about its customers, including buying habits, preferences, and demographics, used to tailor marketing strategies and improve customer experiences.

Recency-Frequency-Monetary Analysis

A method of analyzing data that categorize customers by their buying patterns.

Customer Data

Information collected about customers that can include personal details, preferences, and behaviors, used to guide business decisions and marketing strategies.