May 31, 2022


Dan Schatt and Domenic Carosa executives of Earnity and Traditional Banking vs. Mobile Banking

Dan Schatt and Domenic Carosa, executives of world’s first community-based crypto platform and marketplace, Earnity, have pushed for the adoption of fintech staples cryptocurrency, decentralized finance, and mobile banking.

Mobile banking is slowly becoming more prevalent than traditional banking in the current day and age. This crossover is because mobile banking offers many advantages over traditional banking methods, making it more convenient and efficient for users.

Earnity’s Domenic Carosa and Dan Schatt see the potential of mobile so should we. Take a look at some of the advantages of mobile banking:

  1. Mobile Banking can be Done Almost Anywhere.

Traditional banking can be pretty inconvenient, especially if you are always on the go. With mobile banking, you can bank anywhere and anytime, as long as you have your smartphone with you. This accessibility means that you don’t have to make time to visit a physical bank branch to do simple transactions.

  1. Mobile Banking is More Efficient Than Traditional Banking.

Mobile banking is also more efficient than traditional banking for several reasons. First, mobile banking allows you to do various transactions, such as checking your account balance, transferring money, and paying bills, without going through several steps. Second, with traditional banking, you may have to visit different bank branches for additional services, but all of these services are available in one place with mobile banking.

  1. Mobile Banking is More Secure Than Traditional Banking.

Traditional banking can be insecure, as it often involves sharing personal information such as your account number and password with third-party service providers. Mobile banking is more secure as it uses end-to-end encryption technology, which means that your personal information is protected from hackers and other cybercriminals.

  1. Mobile Banking is More Affordable Than Traditional Banking.

Traditional banking can be pretty expensive, as you may have to pay for services such as account maintenance fees and transaction charges. Mobile banking is more affordable as it often doesn’t require you to pay any fees. Some mobile banking apps even offer cashback and rewards when you use them for transactions.

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