The banking industry has implemented several competitive advantages, including ATMs, online bill-pay services, and electronic statements. Of course, these competitive advantages were quickly duplicated by any competitive that wanted to remain in the banking industry. These are examples of .

Acquisition of new technology products and services

Explanation:

In order to remain relevant, keep with the times and perform better than competitors in pleasing customers, businesses need to have competitive advantage.

Regarding the question above, the first banks to implement the use of ATMs, online services and electronic statements would have had competitive advantage over their competitors. Therefore, other banks would have quickly followed suit and implemented modern business operations in order to remain in business.

Failure to do this could result in the demise of the business.

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