What type of transactions does electronic banking primarily focus on?

Electronic banking primarily focuses on electronic transfers between accounts, which encompasses a wide variety of digital financial transactions that can be performed via online banking platforms or mobile applications. This includes activities such as transferring funds from one account to another, paying bills, and making purchases electronically.

The rise of technology has revolutionized banking, allowing customers to manage their financial activities with ease and convenience, all facilitated by electronic systems. The emphasis on electronic transfers highlights the central role that technology plays in modern banking, facilitating faster and often more secure transactions compared to traditional methods.

In contrast, paper-based transactions, in-person cash transactions, and calls to customer service represent more traditional banking methods that do not align with the primary focus of electronic banking, which aims to streamline processes through digitization.