In terms of efficiency and transparency, I do believe strongly that Bitcoin is far a better option than the banking transactions. Bitcoin is fast and does not have hidden charges.
Because it is peer to peer, it is clear that bitcoin transactions are faster and more efficient than banks. All bank transactions are recorded and become banking documents, which can be used if there are problems in transactions and also when the government needs them. If a bitcoin transaction has occurred, it cannot be canceled so the loss is borne due to a shipping error. In addition, bitcoin is difficult to track because it is not on behalf of people, but only in the form of code.