What do you mean by traditional financial services?

Traditional financial services refer to financial products and services provided by banks and other financial institutions to customers. These traditional financial services include savings accounts, credit cards, loans, securities investment, insurance and so on. Customers can manage their assets, investment risks and obtain liquidity through banks or financial institutions.

Traditional financial services need to face customer authentication and face-to-face communication most of the time. This arrangement enables customers to enjoy safer financial exchanges and services, and banks and financial institutions can better understand the needs and conditions of investors to provide personalized services.

Although scientific and technological progress is constantly changing the face of the financial industry, traditional financial services still occupy a place in the financial market. Traditional financial services are stable, safe and reliable, which is one of the reasons why many people choose banks and financial institutions when dealing with financial affairs.