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Development of ATMs in banking is a result of which type of environment?

Answer and explanation

Correct answer: Technological environment

An ATM is a machine that uses electronic and computer technology to provide banking services. It lets customers withdraw cash, check balances, and sometimes transfer money without direct help from a bank employee. Its development changes the way a banking service is produced and delivered. Therefore, it is an example of the technological environment, which includes new machines, software, communication systems, and methods that affect business activities.

The other environments do not explain this development. Religious environment concerns beliefs and customs, physical environment concerns natural surroundings and resources, and demographic environment concerns population features such as age and income. Since the central reason for introducing an ATM is the use of improved technology in banking, option A, Technological environment, is the correct choice.

Related tags

AtmBanking TechnologyBusiness Environment

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