Are Banks Necessary? Data Analysis or Graphs (Essay Sample)

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Are Banks Necessary?
Introduction
The banking center has evolved from the old types to the contemporary banking system, which is a primary feature of several countries. Through the association of the banking system and the development of an economy, societies have adopted the banking system to the extent that the countries depend on the strength of their banks and currencies to devolve the proper procedure of carrying out economic stimulus activities. On the other hand, through the development of the banks, institutions, and other different organs in society are well managed. Therefore, the banking system has become a primary model of currency development and distributions. The banks act as the main channels of the banking system. The system, which began with the development of merchant loaners and an associated system of saving, created a system whereby there are different issues to be tackled critically in the community. Through the banks, an economy carries out the circulation of money and the collection of money regarding savings and deposits (Feldman & Mark, 6). Therefore, the banks are a great model of ensuring that the banking system is successful. However, there are certain considerations of the banking system and the liaison with cooperative societies and other financial institutions.
The determination of these factors leads to the realization that different factors drive the banking system of a society. Therefore, the banks are not necessary for the banking system. The local banks in a society help in the distribution of money and offering of loans for the different activities to the society. However, there are national banks which are charged with the creation and formulation of various economic policies that help in the running of the country. Therefore, the federal banks are required for the continuity of the business in a country. These banks will ensure the successful implementation of different policies that will impact on the country positively as well as attract investors into the country. These factors make it easier to determine the greater importance that banks and other financial institutions have in the country and their rate of influencing the success of citizens in a country. Thus, these factors lead to the realization of a better approach to banking and appreciation of banks in the society. Thus, the banks are important and necessary for a community.
Purpose
The banking sector is a primary sector in any economy in the modern society. Therefore, the following paper aims at looking into the necessity of having banks in the model communities. Through this article, the benefits of the banks will be examined and the availability of different platform where the functions of the bank can be carried out. Through these activities, the study will determine the instrumental nature of banks in the community and evaluate on their stance in the prosperity of the society. More to the point, the study, through revising the research of previous scholars will have a concise definition of the banking sector, how it helps the communities and some of the important issues related to the banks that they have to keep conducting to help with better governance. Therefore the paper critically determines some for the critical problems that are resolved by the banking sector and offer a verdict on their necessity. Moreover, the evaluations taken in the study help in the provision of the success of alternatives offered to the banks and whatever limits they can serve to help create a sustainable economy. The study primarily aims at defining the necessity of banks in the economy and if there are existing alternatives to the banking sector.
Data Analysis or Graphs
Banks have evolved in the society over an extended period. The banks have come from certain informal establishments to greatly formal establishments that help in the running of the countries. The banks have improved in the banking sector since they increase the circulation of money and currency from the central banks to the different segments of the population. Through these banks, therefore, the economies get to be controlled as well as made in the required manner. Therefore, the banks form a necessary part of the communities that should be greatly uplifted as well as encouraged for greater benefits to the economy. Primarily, the banks are required since they aid in the provision of employment opportunities to a greater portion of the population (Feldman & Mark, 7). Through the chance of providing employments to the population, the banks help in raising the living standards of individuals as well as create a state of the better economy for the country. This channel contributes to make society better and in a position to tackle its challenges. However, banks are threatened by the inclusion of technology that makes it difficult to have the traditional model still in place, 90% of the banks have online portals to carry out their businesses well.
Banks are necessary for a society due to their proximity to different customers. The institutionalization of banks creates an easier model to reach the citizens in a particular country. Thus, through this channel, they get to make the banks in a manner which helps them appreciate the roles effectively. The banks in the society assist in the provision of loans and act as an avenue for deposits in the society. These banks increase the chances of creating a healthy society, where the payment system is updated and functional. Significantly, banks have customers that help in the generation of income and value to the currency of a country. These actions assist in the termination of better ways to institutionalize the banking experience and make it efficient for the creation of value in the society. The banks are therefore instructional in the processing of different transactions in the daily activities of people in an economy. Through these banks, it is easier to establish the various payments, deposits, and taking of loans to start businesses. Therefore, they are of great importance to the communities where they are established.
Banks also provide the great platform for members of the ready access that customers want for their money (Feldman & Mark, 9). The action of banks carrying out the duty of going between enhances the creation of a better model for the business people to perform their activities. The activities of banks enhance the second transaction of activities as well as the formulation of established models that helps in the determination of a successful economy. Therefore, the banks are a great platform where individuals can get their money easily and save for different activities easily. The internet nonetheless provides a better platform where one can take care of their own accounts and make transfers at their dispensation. 80% of the customers prefer using internet banking for the fast speed and accuracy. These models help with the increase in an economic sti...