What is a direct bank? Differences and advantages from traditional banks

The biggest difference between direct banking and traditional banking business model is that it is a new service model introduced by banks in the Internet age. In this mode, banks have no business outlets and do not issue physical bank cards, but provide products and services through online channels.

The characteristics of direct selling banks are that they do not rely on physical outlets and counters, and customer development, product marketing and related financial services are completely online, which breaks the restrictions of time, space and outlets, saves costs, targets customers more accurately, reduces costs and makes marketing faster.