Do banks lower transaction costs?

As a keen observer of the financial landscape, I'm intrigued by the question of whether banks actually lower transaction costs for their customers. With the advent of digital currencies and blockchain technology, there's been much debate on whether traditional banking systems can keep pace with the efficiency and cost-effectiveness of decentralized finance. Could you elaborate on the measures banks take to minimize transaction costs, and whether these efforts are truly beneficial to their clients in the long run?