Services Banks and Many of Their Closest Competitors Offer the Public
Banks, like their closest competitors, are financial-service providers. As such, they create and play a number of important roles in the economy. (See Table 1-1) Their success hinges on their ability to identify the financial services the public demands, produce those services efficiently, and sell them to the public at a competitive price. What service does the public demand from banks and their financial-service competitive today? In this section, we present an overview of both banking’s traditional and its modern service menu.
Services Banks Have Offered throughout History
