internet banking essay

Online Banking Essay

The first online banking system was created in 1980 in New York, and was adopted by four main banks; Citibank, Chemical, Manufacturers Hanover and Chase Manhattan. The sector needed an innovation in banking systems because of growing consumer demand for service improvements as well as fear of losing market share. In the beginning, online banking was treated at private customers and small companies, to help customers have easier access to their bank accounts, however, now it achieves a global reach through the population. (Cronin 1997) In today’s world, electronic business (E-business) is very important especially for the banking system, plays a fundamental role in online banking (Nasri 2011). A true definition of online banking is difficult, because this system is connecting with different services which are constantly evolving. Access to online banking is possible through the internet, phone or even television. (Daniel, 1999; Mols, 1998). This ‘open system’ is available to the customers twenty four hours a day, seven days a week. This is a multi-level organized system, which helps people pay bills, check credit cards or even arrange mortgages without leave their houses. (Singer 2012) One of the reasons why banks adopted this new system, was the ‘boom’ in online shopping and the need for an online payment platform. For the bank themselves, online banking reduces customer service staffing levels, as well as improving speed and flexibility of business transactions. (Shih and Fang, 2004) It is true, that Internet Banking is useful for customers as well as for the banks. On the one hand, it helps people have direct and quick access to their bank accounts, on the other hand, helps the banks to save costs. ‘Clearly, in order to conti... ... middle of paper ... ...ional, competitive, technical and regulatory realm within which the system operates’. (Alter 2002 pp. 46) It concentrates around government regulations, as well as global education about system improvement. Infrastructure relates to all recourses (human and technical) that the system is based on even though these resources exist and are managed outside it. This mainly includes human infrastructure which helps support and training stuff, information, such a shared database. Programming technology and networks are part of technical infrastructure (Alter 2002 p. 48) It is for the business to create work system, because it is ‘set of ideas for organizing a thought process about a particular type of thing or situation’ (Alter 2002 p. 45). A good framework is useful to understand a sense of other complexity and to identify topics and show how these topics are related.

In this essay, the author

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Essay on Internet Banking

internet banking essay


In this essay we will discuss about Internet Banking. After reading this essay you will learn about: 1. Meaning of Internet Banking 2. Objectives and Drivers of Internet Banking 3. Trends in India 4. Facilities Available 5. Emerging Challenges 6. Main Concerns 7. Strategies to be Adopted by Indian Banks.

Essay # 1. Meaning of Internet Banking :

With the growth of internet and wireless communication technologies, telecommunications etc. in recent years, the structure and nature of banking and financial services have gone for a sea change. Internet banking or e-banking is the latest in this series of technological wonders in the recent past which involves use of internet for delivery of banking products and services.

Even the Morgan Stanley Dean Witter Internet Research emphasised that web is more important for retail financial services than that for many other industries. Internet banking or e-banking is changing the banking and its structure and is having major effects on banking relationships.

Banking activity is now no longer confined to the branches where a customer has to approach the branch in person, for withdrawing cash or deposit a cheque or request for a statement of Accounts.

In accessing a true internet banking, any inquiry or transaction is processed online without any reference to the branch (anywhere banking) at any time. Thus providing Internet banking is gradually becoming a “need to have” than a “nice to have” service.

The net banking is, therefore, more of a norm rather than an exception in many developed countries because it is the cheapest way of providing banking services. Under this system, online banking is possible where every bank customer is provided with a personal identification number (PIN) for making online transactions with the bank through internet connections.

Internet banking or e-banking falls into four main categories, from Level 1—minimum functionality sites that offer only access to deposit account data—to level 4 sites highly sophisticated offering, enabling integrated sales of additional products and access to other financial services—such as investment and insurance.

In other works, a successful internet banking solution offers:

1. Exceptional rates on savings, CDs and IRAs.

2. Checking Account with no monthly fee, free bill payment and rebates on ATM surcharges.

3. Credit card facilities with low rates.

4. Easy online applications for all accounts including personal loans and mortgages.

5. 24-hour account access.

6. Quality customary service with personal attention.

Essay # 2. Objectives and Drivers of Internet Banking :

The internet has developed level playing field and thereby afforded open access to customers in the global market-place. Internet banking is a cost-effective delivery channel for the modernized financial institutions.

In this system, consumers are embracing many benefits of e-banking. To have access to one’s accounts at any time and from any location through world wide web (www) is a convenient practice, which was unknown a short time ago.

Thus, a bank’s internet presence transforms from ‘brochure/ware’ status to ‘internet banking’ status once the bank goes through a technology integration effort so as to enable its customer to access information about his or her specific account details.

Following are the six primary objectives or drivers of internet banking:

1. To improve customer access.

2. To facilitate the offering of more services.

3. To increase customer loyalty.

4. To attract large number of customers.

5. To provide cost-effective services offered by competitors.

6. To reduce customer attrition.

Keeping objectives in mind, the internet banking facilities has been progressing at a rapid pace throughout the world.

Essay # 3. Trends of Internet Banking in India :

In India, initially a beginning was made in internet banking only in some big cities which was just in rudimentary stage. After getting initial success, the internet banking facility is gradually being expanded in all cities and towns to make the system popular.

The banking industry in India is also facing unprecedented competition from non-traditional banking institutions which are now a day’s offering banking and financial services over the Internet. The deregulation of the banking industry along with emergence of new technologies are enabling the new competitors in the banking sector to enter the financial services market quite efficiently and quickly.

Core or Anywhere Banking:

In order to support internet banking facilities another new concept of banking i.e., core or anywhere banking is introduced. Initially introduced by the foreign banks, the same concept in new increasingly adopted by public sector banks and also the private sector banks.

Under this concept of banking, bank customers who have an account with any select branch can easily operate his account from different designated branches on the bank spread throughout the country.

Under this system, a customer can avail cash withdrawal, cash deposit, transfer of funds, inter-city and intra-city transactions, collection of draft and cheques etc. facilities from any of such designated branches conveniently irrespective of its locations.

Core banking concept has improved the standard of the banking services with the help of modern technology. In present times, most of the public sector banks have already adopted this concept and started extending these facilities to its customers gradually by including more and more of its important branches under this category.

Progress of Internet Banking:

In India, internet banking is gradually being developed throughout the country.

As per the recent study it is observed that:

(a) A number of banks have already adopted internet banking and are offering varied kind of services through it,

(b) These internet sites generally offer only most of the basic services. Only 50 per cent are known as ‘entry level’ sites offering little more than company information’s and basic marketing materials and 10 per cent are offering ‘advanced transactions’ such as online funds transfer, transactions and cash management services etc.; and

(c) Most of the foreign and private banks in India are much advanced in terms of the number of sites and their level of development in terms of rendering advanced technology linked services to its customers. Recently, an authority of ICICI Bank observed, “Our Internet banking base has been growing at an exponential pace over the last few years. Currently around 78 per cent of the bank’s customer base is registered for Internet banking.”

Security Precautions :

In order to make their bank account safe, one should follow certain security precautions. Customer should never share personal information like PIN number, passwords etc. with anyone, including employees of the bank. It is important that documents that contain confidential information are safeguarded. PIN or password should be changed immediately and memorized before destroying the mailers.

Customers are also advised not to provide sensitive account-related information over unsecured e-mails or over the phone. He must take simple precautions like changing the ATM, PIN and online login and transaction passwords on a regular basis. It is also important to ensure that the logged in session is properly signed out.

Essay # 4. Facilities Available Under Internet Banking in India:

Following facilities are made available for customers under internet banking in India:

(i) Bill Payment Service:

Bill payment service is a utility service of internet banking. Accordingly, each bank has tie-ups with various utility companies, service providers, insurance companies across the country. Such tie-ups can facilitate online payment of bills of electricity, telephone, mobile phone, credit card, insurance premium bills etc.

In order to make online payment of bills, a simple one-time registration for each bills has to be made and a standing instruction has to be made to make online payment of recurring bills automatically. Most interestingly, the bank usually does not charge customers for such online bill payment.

(ii) Fund Transfer:

Internet banking has made provision for transfer of any amount of fund from one account to another of the same or any other bank. Accordingly, customers can send money anywhere in India. Once a customer logs in his account, he needs to mention the payee’s account number, his bank and the branch. The transfer will take place in a day or so, whereas in a traditional method it takes about three to four working days. ICICI Bank recently reported that its online bill payment and fund transfer facility have been most popular online services.

(iii) Credit Card Customers:

Internet banking provides the facility of credit card to its customers. With internet banking, customers can not only pay their credit card bills online but also gets a loan on their cards. Not just this, they can also apply for an additional card, request a credit line increase and in case the card is lost, one can report lost card online.

(iv) Railway Pass and Online Booking:

Through Internet banking facility to issue Railway pass is also available. Indian Railways has tied up with ICICI bank for this purpose and one can now make railway pass for local trains online. The pass can be delivered to the customer at his doorstep. Initially, the facility was limited to Mumbai, Thane, Nashik, Surat and Pune. The bank would just charge Rs 10 + 12.24 per cent of service tax. Moreover, online booking of e-tickets of Railways, Airlines etc. can also be made with some arrangement with banks through Internet banking.

(v) Investing through Internet Banking:

Through Internet banking, opening a fixed deposit account has become easier. A customer can now open an FD account online through funds transfer. Online banking can also be a great friend for lazy investors. Moreover, investors with interlinked de-mat account and bank account can easily trade in the stock market and the amount will be automatically debited from their respective bank accounts and the shares will be credited in their de-mat account.

Besides, some banks provide its customers the facility to purchase mutual funds directly from the online banking system. Nowadays, most leading banks offer both online banking and de-mat account facilities. However, if a customer is having his de-mat account with independent share brokers, then he needs to sign a special form, which will link his two accounts.

(vi) Recharging Prepaid Phone:

Through Internet banking, recharging of prepaid phone has also become possible. It is no longer needed to rush to the vendor to recharge prepaid phones as and when talk time runs out. Here the customer just tops-up his prepaid mobile cards by logging in to Internet banking. By just selecting operator’s name, entering mobile number and the amount of recharge, the prepared phone of the customer is again back in action within few minutes.

(vii) Shopping at Fingertips:

Internet banking provides facility of shopping at fingertips. Leading banks have tied-up with various shopping websites. With a range of all kind of products. One can shop online and the payment is also made conveniently through his account. One can also buy railway and air tickets through Internet banking.

Essay # 5. Emerging Challenges of Internet Banking in India :

In India, a large sophisticated and highly competitive Internet Banking Market is gradually being developed with market pressure and is subjected to the following emerging challenges:

1. Demand side pressure due to increasing access to low cost electronic services.

2. Emergence of open standards for banking functionally.

3. Growing customer awareness and need for transparency.

4. Global players in the fray.

5. Close integration of bank services with web based E-commerce or even disintermediation of service through direct electronic payments (E-cash).

6. More convenient international transactions due to the fact that the Internet along the general deregulation trends, eliminate geographic boundaries.

7. Move from one stop shopping to ‘Banking Portfolio’, i.e., unbundled product purchases.

The Internet and its underlying technologies have been changing and transforming not just banking but all aspects of finance and commerce. It usually represents much more than a new distribution opportunity. Internet banking will also enable nimble players to leverage their traditional brick and mortar presence for improving customer satisfaction and gain share.  

Essay # 6. Main Concerns in Internet Banking :

Internet banking in India has its areas of concern. In the mean time, a number of cases related to fraud and cheating of banks and customers by unscrupulous persons have already been lodged in India with this type of banking facilities. Irrespective of that attempts have been made by the RBI and the banking authorities for promoting safety and soundness of online and e-banking facilities in the country by issuing necessary guidelines.

In a recent survey conducted by the Online Banking Association, member institutions rated security as the most important issue of online banking. Thus there is a dual requirement to protect customers privacy and product against fraud.

Banking Securely:

Online Banking provides an overview of Internet Commerce and how one company can handle secure banking practices for its financial institution clients and their customers. Moreover, some basic information on the transmission of confidential data is presented in Security and Encryption on the web. In this respect, PC Magazine Online also offers a primer as to how encryption works.

Besides, a multi-layered security architecture comprising firewalls, filtering routers, encryption and digital certification ensures that customers account information is protected fully from un-authorised access in the following manner:

(i) Firewalls and filtering routers ensure that only the legitimate Internet users are usually allowed to access the system.

(ii) Encryption techniques used by the bank (including the sophisticated public key encryption) would ensure that privacy of data flowing between the browser and the Infinity system is protected.

(iii) Digital certification procedures provide the assurance that the data a customer receive is from the infinity system.

Essay # 7. Strategies to be Adopted by Indian Banks for Introducing Internet Banking :

In present times, Internet banking has no alternatives. Indian banking is gradually getting more and more access of Internet banking. Thus, Internet banking would drive us into an age of creative destruction due to non-physical exchange; complete transparency is also giving rise to perfectly electronic market place and customer supremacy.

At this moment, the question may be asked “what the Indian Banks should do under the present circumstances?” Whatever is the strategy chosen and options adopted, certain key parameters would largely determine the success of banks on web.

In order to attain long term success, in respect of Internet banking, a bank may follow:

(i) Adopting a webs mindset.

(ii) Catching on the first mover’s advantage.

(iii) Recognising the core competencies.

(iv) Enabling handling multiplicity with simplicity.

(v) Initiating senior management to transform the organisation from inward to outward looking.

(vi) Aligning roles and value propositions with customers segments.

(vii) Redesigning optimal channel port-folio.

(viii) Acquiring new capabilities through strategic alliances.

However, the above mentioned steps can be implemented by following four steps mentioned below:

(i) In the first phase, the customer be familiarized to new environment by demo version of software on banks, website. This will enable users to give suggestions for improvements, which can be incorporated in its later versions wherever possible.

(ii) The second phase provides various services such as account information and balances, statement of account, transaction tracking, mail box, check book issue, stop payment, financial and customized information.

(iii) The third phase may include additional multi-utility services like fund transfers, DD issue, standing instructions, opening fixed deposits and intimation of loss of ATM cards.

(iv) The final phase should include advanced corporate banking services like third party payments, utility bill payments, establishment of L/Cs, Cash Management Services etc. Enhanced plan for the customers in future may include requests for demand drafts and pay orders and many more to bring in the ultimate in banking convenience.

Thus by following the above mentioned strategies, it will help banks to translate their traditional business model into a Internet banking one, falling into the following three main categories:

(i) One-stop shop.

(ii) Virtual one stop shop.

(iii) Best of Breed Supplier.

Thus by following the above steps, the Indian bankers can pave the way for the successful introduction and popularizing the new concept of Internet banking on a large scale.

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Free Online Banking Essay Sample


In the United States of America and other countries in the world, banking over the internet has been seen to attract an increased attention from various financial industry participants, bankers, regulators, law makers and business press. Among the reasons for the attention towards online banking is the notion that the electronic banking and payment will undergo rapid growth with the proliferating electronic business, some vexing public policy issues and the industrial projections that online banking will reduce the costs of the financial institutions, increase the revenue of the institutions and make them more convenient for the customers. The main purpose of this paper is to help fill significant gaps in existing knowledge about the Internet banking landscape.

Online banking

This is the outgrowth of personal computer banking that uses the internet as a channel of conducting various banking activities such as paying of bills, paying of mortgages, checking the account balances, transferring of funds among different accounts and purchasing various financial instruments. In online banking, the customer uses software that runs the internet banking programs resident on the bank's web server. In the united states of America, the customers who already have bank account at the brick and mortar banks and wishes to use the online banking services asks their respective institutions for the relevant software and personal passwords which allows them to access their accounts at the banks.

There are two major ways through which the banks offer online banking. First, an existing bank with offices establishes a web site which is an additional to the existing delivery channels. Second, the virtual, branchless or internet only bank is established. Here, the computer server may be put in an office that is used to serve as a legal address of such bank. The new customers can start using the services by completing and mailing the application forms to the financial institutions that offer such services or apply through the institutions' websites. In online banking, the physical interface between the financial institution and the customers is not required.

History of online banking and its future projection

The concept of internet banking started in 1980s when it was envisioned and experimented. On 6 th October 1995, the Presidential Savings Bank announced the online banking facility for regular customer use. This idea was taken by other banks such as Chase Manhattan, Security First Network and Wells Fargo. Nowadays, some banks carry out their operations solely through the internet. Earlier, the inventors of online banking predicted that the conventional kind would be replaced by online banking with time. This assessment was wrong because many customers have an inherent distrust in the process due to some factors such as inability to utilize the online services and fraud. In the year 2010, about 55 million American families were active users of the internet banking services and the future of the internet banking promises to be more secure.

Advantages of online banking

First, the internet banking is much convenient. For instance, it allows the customers to perform their transactions and check their balances all the time. The banks are not virtually closed. No matter where the customers are, they can be able to visit their online banks and handle their financial matters. The customers are able to arrange their schedules of making payments to many payees earlier rather than waiting and keeping up with the paper bills. On behalf of the customers, the banks send the payments automatically on the dates and in amounts specified by the customers.

Secondly, the internet banking is efficient, fast and effective. For instance, various financial transactions are carried out and executed very fast as compared to the ATM's. Further, the online banks give the customers the ability of handling multiple bank accounts from a single site. Many banking sites are compatible with some programs such as Microsoft money which allows the customers to manage their finance and asset more effectively.

Thirdly, online banking has several useful features a part from the usual transactions. For example, the customers can manage investments, apply for credit cards and pay bills through their online account portal. They can also easily order for new checks and report for stolen and lost debit cards. Finally, the customers can be given better investment rates for banking services such as the certificates of deposit and savings accounts. Recently, the internet banks such as ING Direct are offering high yield savings account with favorable rates as compared to the ones in other banks. This is achievable because online banks can avoid many overhead expenses that are incurred by the brick-mortar-banks which lead to more profits for the depositors.

Disadvantages of online banking

When the banks have online operations only without branch offices in local areas, the customers are not able to reach the bank representatives when they want to discuss some issues related to the account. Sometimes, communication with the representatives proves to be more problematic especially when the customers have very serious issues that cannot be resolved easily. Secondly, some banking services are difficult to offer through the internet or they are not available in the internet. An example is the problem that is experienced when the customers try to deposit pennies. Normally, this is never done directly through the internet. The sending of paper checks through the snail mail delays the deposits and incurs some risks especially the risk of losing them before being processed at the bank.

Thirdly, theft and identity fraud possibly occurs even if online banking is secure and they occur when the customers fall victims to phishing site or otherwise have their information of the account compromised. However, this can be avoided by not clicking on suspicious links that originates from the spam mails and ensuring that the accounts login pages are from correct domain of the banking sites. In addition, not all the online bank transactions are immediate. This always happens in case of money orders and some transfers takes long time before they are settled in order to make the money available in the bank accounts. Lastly, online banking requires some computer literacy and knowledge of using the internet. Therefore, the people with technophobia do not have experience thus they are not able to use online banking services while other people are suspicious of using the internet because it is not within their comfort zone.

Online banking challenges

Online banking presents various challenges to the customers' personal privacy and financial security and this is done by phishing attacks, malware and pharming.

i. Phishing attacks

They make use of fake email from people who pretend to be representatives of online banks or financial institutions. These emails ask the bank customers to give sensitive details such as their names, account numbers and passwords. When the customers follows the links that are sent to them, the intruders gains access to their finances and personal information (Banking Security Online).

ii. Malware challenges

Malwares are malicious software codes that are designed to enable the intruders to fool the customers that they are protecting them during their transactions. The malware attacks happen to be a factor in internet financial crimes because they perform account information theft, fake web site substitution and hijacking of the accounts.

iii. Pharming

This involves the installation of malicious codes on the customers' computers which can be done when the customers opens the emails containing a malicious attachment which installs itself on the computers. When the customers open their webs, they get directed to fake web pages that resemble their financial institutions or banks.

Bank performance and internet experience

The combination of being a new bank offerins online banking services results to relatively poor performance. There is a possibility that poor performance of small online banks versus brick-and - mortar banks is the outcome of the short run costs of investing in online banking, the one that could be expected to give substantial gains in the long run. Because there are very few banks that have offered online banking for many years, it is not easy to determine what the long run is as for as online banking is concerned.

In conclusion, relatively low percentage of customers using online banking as well as the modest cost of setting up an online banking web site makes it not to belief that online banking has sizable impacts on the bottom line of several financial institutions or banks.

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More about Essay On Internet Banking

Related topics.

The Impact of the Internet on Banking

Introduction, factors of growth, disadvantages, works cited.

The advent of the Internet has provided some major breakthroughs. VoIP and visio-conferences eliminate the limitations businesses encounter due to geographical boundaries largely. These provide opportunities for various business houses to advertise, share information with their collaborators, receive feedbacks on their products, equipping them with the cutting edge technologies needed to grow. Thus, to be successful in this highly competitive global business environment, enterprises increasingly adopt flexible, distributed working practices. When the first computer took its shape, nobody could imagine that it might take the form of today. And the most influenced part is the banking sector once there was the introduction of internet in banking. Thus, this study would evaluate the influence of internet on the banking industry.

There was a time when people had to stand in long queue for hours to accomplish any banking function. Again those long hours of waiting, chances of human errors etc were there. Everything is now computerized, error free and lightning fast. Withdrawing money is so simple because of ATMs; depositing money is also is an affair of minutes. The most advanced form of banking is e – banking. There is no need of visiting your bank at all. With only a click of mouse you can deal in loans, insurance, mutual funds etc. Trading is nothing harder than a click of mouse now. It was in 1980s that changed the banking outlook and that was introducing technology as compulsory usage as a precondition for renewing or getting a new license. Secondly, opening an institute solely dedicated to researching and developing technology in the banking field. This brought in technology-savvy banks and they would offer innovative products to its customers from credit/Debit/Smart cards, Tele-Banking and Internet Banking, Anytime and Anywhere Banking and ATMs and PC-Banking were some of the few. According to Lee (2009), “ Online banking has recently come to be considered as one of the most effective banking transaction methods because it possesses many advantages which offline banking channels can not offer. Thus, online banking managers aim to utilize these advantages to increase the online banking adoption rate ” (Lee 132).

An economy based on digital factors is digital economy (or internet or new economy). Digital computer networks, internet, intranets, VAN, computers, software are very important in this business. For example, “Thaigem” is a gem company based in Thailand, who very effectively used the EC to grow their business.Web-based business enhances competitiveness and create strategic advantages for a company and this is really helpful for any company, how large or small it may be. The E-Commerce is doing wonders for all the parties from supplying goods that has be the ordered and transportation involved. Now one can go shopping and will not have to wait in the long queue to pay the bill rather present a blank cheque where the amount will automatically be debited. Moreover one can shop hop in internet where he will have thousands of stores and choices to choose from and the product will be shipped in his doorstep. These improvements have made business thousand times simpler, also affordable and hassle free for the customers (Turban, Leidner, McLean and Wetherbe 56). However, interconnectivity, the most significant aspect of the modern digital economy, is a significant drawback and it has the potential to start a ‘domino effect’ once a part of it is affected. Nevertheless, baring this fact, it is obvious that, as seen in the case, internet banking enhances a business manifold and thus is the evident banking form in the future.

One of the most important aspects of modern banking is digital economy with the help of internet. Information Technology has thoroughly revolutionized the business process. Many multinational giants are changing their business tactics, like Siemens. Fierce global competitions have forced the companies to reduce costs and increase productivity and e-business is a good solution of this problem. E-commerce mainly happens with the help of internet and other electronic networks. The basic infrastructure of E-commerce requires a network of interconnected computers, which helps users to access and share information from a number of sources and collect and collaborate with others (Turban, Leidner, McLean and Wetherbe 38).

There are fundamentally five major advantages of internet banking that became so influential in the recent times. According to Lassar, Manolis and Lassar (2005) they are “ viewing of account and transaction history, paying bills, transferring funds between accounts, requesting credit card advances and ordering checks ” (Lassar, Manolis and Lassar 177).

It is now a know fact that internet and Information Technology is the facilitating factor in driving business toady and especially in the banking sector from transactions and analytical processing to end user interface. Customer service has come a long way and is getting better. They give a hand in the CBS (core banking system) which revolutionized the face of Indian banks. The latest trend which shook the market was Technology in the mobile banking, ATM (automated teller machine) and the locally shared services between banks.

Internet enables banks to service it customer 10 times faster than a few years ago and brought down its operation cost to one third. We now have immediate transfer, access to multiple service providers dealing in communication. (IBM) International Business Machine Corporation, Microsoft, Patni are one of the companies on the forefront in providing Technology that would run the banking industries. Projects like multi Application smart cards have proved to perform well and have been included into the financial sectors and open its uses throughout the country and the world. There will never be a stop to the advancement of internet technology in the world of banking and business banking will have the biggest change. Creating deposits is what banks were in their traditional form and the surplus money was let out in the form of lending. But in this present time they now offer wide range of services to financial needs to its customers in the form of business , personal , travel and celebrations loans to name a few. The services are to its entire customers who can prove their stability in repaying the loan.

There were several factors in looking at the banking growth and it was the changing face of banking services. Before the internet and computerization, manually deposit and withdrawals were all banks did and the service standards were far below standards but after the internet and computerization the banking sectors have become a consumer oriented market. Information technology is creating a revolutionizing effect and rippling through all sectors including the capital market and after the introduction of internet it has brought its relationships with banking closer and the internet is become an important support for banks financial services.

There are a lot of services which have become customized and Retail banking is maturing after each passing year and one clear example is the housing loan sectors by bringing down their operations cost, the banks are able to pass it benefits to the customers. One of the most innovating banking products that technology has brought in is Plastic money with the new age of people spending more then they use to before many years ago carrying large sums of money was getting trouble some and Plastic money was introduced which came in many forms. Credit card is a system of payments after a Plastic is introduced to the user who can use it multiple times as cash transactions. Then we have the debit card and can be use in ATM and purchase goods, the only difference is that it’s on the user cash and is not credit given by the bank. The banks over time and over the years have changed and evolved into international standards and are showing innovative approach in creating value for their customers.

The banks are hugely influenced by internet and computerization with basic introduction of Internet, ATM has minimized bank offering its core delivery services and with alternative now available due to new development of technology which has not creating duplication of network and need to work on a backup plan. However, Banks need to focus more on technology concerning (WAN) and VSAT, (WAN) which is a wide area satellite based network and VSAT (Very Small Aperture Terminals) to push ahead of the foreign competitors. However, there is one more aspect where banks could benefit greatly and take the load of their manual operations is introducing better payments system in the rural of those applications is called NDS (Negotiated Dealing System) and the (Centralized Funds Management System) but this in not introduced to all banks in the rural areas of many underdeveloped or developing countries and still see medieval operation on the banking sectors. The Negotiated dealing system (NDS) which is a platform for trading and RTGS (Real Time Gross Settlement system) is used for transferring real time funds from one bank to another. The age of internet benefits have only been tapped in the urban areas and rural area have not even smelt its benefits and its only when banks that have their branches in rural area releasing its benefits can the common man reap its benefits, where issues of money transfer can be tapped throughout the world. There is a huge resentment among customers in the rural areas is customer’s service and banks are facing costs on providing these services. The issue lies is trying to cut operations cost and having to deal with their competition. Here is where internet could play its role and meeting the banks objectives.

One of the most disturbing aspects of internet banking is the issue of privacy. Simpson (2002) noted that “ The difficulty is that online banks have been counting on the ability to use detailed customer information for targeted marketing offers while the evolution of e-commerce depends on intra-industry alliances and the sharing of data. Privacy concerns may slow the evolution of e-banking ” (Simpson 317).

Similarly, Identity theft is not at all a new crime. It has merely mutated itself by including new technologies like ATMs and online banking. Nowadays it is even easier for the identity thieves to use stolen information due to the advent of the Internet since transactions can be made online eliminating personal interactions. Due to the computerization of the banking and other financial dealings and credit cards it has become much easier for the pretenders to pilfer other’s personal details and thus can camouflage as the victim. Credit cards are often used for verifying people’s identities and thus, an impersonator can pretend to be someone else by using their credit card. This also enables them to steal money. Thus, all the impersonator really has to do is obtain a succession of appropriate numbers for completing the crime. The victim of identity theft can suffer serious consequences if held responsible in place of the imposter. The various activities that are undertaken by the impersonators may even cause the victims to loose their jobs. Medical identity thefts can even cause us to loose our lives or the lives of our near and dear ones. Many nations have precise and explicit laws in opposition to using other’s personal uniqueness and details for ones private gains.

In order to avoid identity theft we regularly verify our credit scores with the credit bureaus, destroy any unwanted credit applications, confirm with our creditors if our bills are not on time and protect ourselves by not broadcasting our personal information in unknown e-mails. Identity theft can also be used for smooth progress of offenses like counter nation surveillance, unlawful migration, and blackmail and terror campaigns.

The 21st century business empires had realized that IT is no longer a support function but become the main driving force to better operations in terms of cost cutting and customer service. Internet and computerization will be the deciding factor in banking and financial sectors in making or breaking a company. The banking sector must realize that the should focus on three areas to survive customer’s expectations it is this core value that will sustain them from losing their customers to competitors , the second is cost cutting to operate efficiently with minimum cost and finally handle their never ending competition. To do this they must look for new products and cutting edge service technology. They say a process or a business can only be successful if it runs on an auto – pilot mode and that include over all operations. It can be done by having their total data base and day to day operations through a centralized network, using new banking applications. This way banks can service their customers 24x7x365 with less man power and cut cost.

Some of the areas where expects still feel more needs to me done are on IT is

There is a feeling among the IT professional that banks need to be part of a network and it shows by having technological employment by the banking sectors, with ATM machines been put on a huge scale and is forcing other banks to start with the same. The age of IT technology is future but in their eagerness to achieve its objective they should not forget the personal touch that every banks has towards their customer and must have it always, they must remember that not every one is tech savvy, and human interactions must be there always for future banking.

The internet and Information Technology has given banks their core objective and that is services towards their customers and at the moment it is bringing forth more valued added products. Some of the product like mobile banking is working well in the emerging market and most banks introduced mobile banking which helps customer in getting updates like SMS services and it more beneficial for people who travelling frequently and would like to keep updated on their accounts. This is a huge influence on the banking sector and it continues to grow for a more effective future of digital economy based on internet.

Lassar, Walfried., Manolis, Chris., & Sharon S Lassar. “The relationship between consumer innovativeness, personal characteristics”. The International Journal of Bank Marketing , 23.2-3, (2005): 176-199.

Lee, Ming-Chi. “Factors influencing the adoption of internet banking: An integration of TAM and TPB with perceived risk and perceived benefit”. Electronic Commerce Research and Applications 8.5, (2009): 130–141.

Simpson, John. “The impact of the Internet in banking: observations and evidence from developed and emerging markets”. Telematics and Informatics 19.7, (2002): 315–330.

Turban, Efraim., Dorothy Leidner, Ephraim McLean, and James Wetherbe. Information Technology For Management: Transforming Organizations In The Digital Economy. 4Th Ed. Delhi: Wiley-India, 2007.

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Essay Service Examples Business Banking

Online Banking Security


Banks global are organization that providing online and mobile financial, offering their clients a greater handy way to their banking affairs at the same time as at the identical time enhancing efficiency and saving on working prices. However, online banking has its drawbacks.

Online banking account are often aimed by way of cyber criminals. Security issues remain a first-rate situation for customers and corporations alike. As a result, banks want to implement security features to guard themselves and their consumer base.

Online banking security measures include: manage and secure high value transactions that require real time security capabilities, streamline and simplify the security process for high volume transaction while minimizing manual steps and leverage flexibility that fully enables benefits of integrated hardware, software and risk-based analysis capabilities to drive more secure and user-friendly authentication and transaction signing. (wikipedia, n.d.)

Definition of Computer Security Risks

A computer security risk is clearly something on your laptop which could damage or affected your data or allow someone else to get admission to your computer, without your know how or consent. There are quite a few various things that can create a pc danger, which includes malware, a preferred time period used to explain many types of bad software. We commonly think of pc viruses, however, there are numerous styles of terrible software program that may create a computer safety threat, such as viruses, worms, ransomware, adware, and Trojan horses. Misconfiguration of computer merchandisein addition to hazardous computing habits also pose dangers. (Nott, 2013)

Consistent with a Hurriz group study, safety is the most important obstacles to company internet offerings adoption. Internet services move transactions past firewalls and permit outdoor entities to invoke utility, doubtlessly giving outsiders get admission to touchy data. As a result, internet services gift new security challenges. Despite the fact that present protection requirements guard statistics because it travels over the net, internet offerings require extra measures to comfortable information. (h.m. Deitel)

This security protection is threatened through many risks and dangers, which can be known as computer protection dangers. those are “any occasion or motion that could purpose a loss or harm the computer hardware, software program, records, or information.the ones dangers can lead to humans, corporations and authorities dropping private facts, privacy contents and big quantities of cash. Certainly, amendment of statistics can be huge dangers distorting the functioning of the enterprise. An amendment of any parameter may additionally therefore ultimately lead to the manufacturing of a faulty stop product. (sarapenina, 2014)


Malicious codes.

Computer viruses are programs that spread from one computer to another, causing issues on each computer they touch. As viruses propagate, they utilize up so much memory that it can slow down computer frameworks to the point that they are unusable. A few viruses really assault records on the computer by erasing them or altering them in a few way that renders the computer unusable. The extent of harm caused by a virus changes. A few affect a generally small number of computers. Others have been so devastating that they can even cripple large companies. For example, in March 1999, when the Melissa virus hit, it was so damaging that it constrained Microsoft and other large companies to totally closed down their mail frameworks until the virus might be contained. (Varmosi, 2019)

Worm are little programs that as a rule take advantage of systems and spread to all computers organize. Worms check systems for computers with security gaps in programs or working frameworks, duplicate themselves on those computers, and after that begin all over from there. Since worms as a rule spread through systems, they can affect numerous computers in an awfully brief sum of time. For example, The Slammer worm, discharged in January 2003, spread more quickly than any other infection some time recently it. Inside 15 minutes, it had closed down cell phone and Web benefit for millions of individuals around the world. (Varmosi, 2019)

Trojan Horse

Trojan Horse are laptop programs that claim to be one of the component but are in reality viruses that damage the pc when the user runs them. Trojan horses cannot replicate robotically. Trojan can enables cyber-criminal to spy and steal the sensitive data and gain access to the system. For example, Trojan Ransom, this type of trojan can modify data in the computer and make the computer run correctly and cannot use the specific data anymore. The criminal only unblock the data and restore the computer performance if you paid them. (Varmosi, 2019)

Unauthorized Access and Use

Unauthorized computer access is popularly known as hacking. It is criminal actions where someone use the computer to gain access to a data system without permission to access that data. This activity is illegal and those involvedc will be punished.For example, the criminal gain the access to a bank computer and perform an unauthorized bank transfer. (computer hope, 2014)

Hardware Theft

Hardware theft is the act of stealing pc equipment. Hardware vandalism is the act of defacing or destroying computer system. Hardware vandalism takes many bureaucracy, from a person reducing a computer cable to people breaking into a commercial enterprise or faculty computer lab and aimlessly smashing computers (Shelly, 2016)

Software Theft

Software theft implies the unauthorized or unlawful replicating, sharing or utilization of copyright-protected computer program programs. Program burglary may be carried out by people, bunches or, in a few cases, organizations who at that point disperse the unauthorized computer program duplicates to users. The example of software theft is illegally duplicates or disseminates a program, steal computer program media, deliberately eradicates programs. (technopedia, n.d.)

Information Theft

Information theft happens when somebody takes individual or private data. Both business and domestic clients can drop casualty to information theft. An untrustworthy company executive may take or purchase stolen data to memorize approximately a competitor. A degenerate person may steal credit card numbers to form false buys. Information theft regularly is connected to other sorts of cybercrime. For example, a person to begin with might pick up unauthorized access to a computer and then steal credit card numbers stored in a firm’s accounting department. (vermaat, 2016)

Definition of Security Measure

Security measures mean the precautionary measures taken toward possible danger or damage (hisham, 2017) Security measure is a safeguards or countermeasures to avoid, detect, counteract, or minimize security risks to physical property, information, computer systems, or other assets. (wikipedia, n.d.)

internet banking essay

Basic System Security Measures apply to all or any systems , no matter the amount of their System Classification, it is a baseline, that all systems should meet. Note that for many personal workstations, these squares measure the sole measures that apply. Part of the necessities is word protection, that is, all accounts and resources should be protected by passwords that meet the subsequent necessities, that should be mechanically implemented by the system and it should be a minimum of eight characters long (mark vimalan, 2014)

Type of Security Measure

Data backup.

A data backup is the result of replicating or documenting records and organizers for the reason of being able to re-establish them in case of information loss. Data lost can be caused by numerous things extending from computer infections to equipment disappointments to record debasement to fire, surge, or robbery. For example on the off chance that you’re dependable for trade information, a misfortune may include basic budgetary, client, and company information. On the off chance that the information is on a personal computer, you may lose money related information and other key records, pictures or music that would be difficult to replace. (winzip, 2019)


Cryptograph is about constructing and analysing third parties or to prevent public from reading privates messages. There are three type of cryptographiy : secret key cryptography (SKC) for privacy and confidential, public key cryptography (PKC) for authentication and Hash functions for message integrity. Cryptography is used in many applications such as banking transaction cards, computer passwords and e-commerce transactions. (guedez, 2018)

Antivirus program may be a sort of program planned and created to secure computers from malware like virus, computer worms, spyware, botnets, rootkits, key loggers and such. Antivirus programs work to filter, identify and evacuate viruses from your computer. There are numerous forms and sorts of anti-virus programs that are on the market. However, the prime objective of any antivirus program is to secure computers and evacuate viruses once detected. antivirus program is fundamentally expecting to guarantee total assurance for PCs against infection contaminations, various antivirus programs presently secure against diverse sorts of malware for example, spyware, adware, and rootkits as well. (judge, 2019)


Anti-spyware program may be a sort of program outlined to avoid and identify undesirable spyware program establishments and to evacuate those programs on the off chance that introduced. Location may be either rules-based or based on downloaded definition records that distinguish as of now dynamic spyware programs. Anti-spyware items are accessible from a number of merchants, counting Sunbelt Computer program, TrendMicro and Webroot (Rouse, 2007)

In computing, a firewall may be a arrange security framework that screens and controls approaching and active organize activity based on foreordained security rules.[1] A firewall regularly builds up a boundary between a trusted inside organize and untrusted outside organize, such as the Internet.[2] Firewalls are regularly categorized as either arrange firewalls or host-based firewalls. Arrange firewalls channel activity between two or more systems and run on organize equipment. Host-based firewalls run on have computers and control organize activity in and out of those machines. (wikipedia, n.d.)

Physical Access Control

Many organizations use access controls to minimize the chance that a perpetrator intentionally may access or an employee accidentally may access confidential information on a computer, mobile device, or network. An access control is a security measure that defines who can access a computer, device, or network; when they can access it; and what actions they can take while accessing it. The security program can be configured to alert a security administrator whenever suspicious or irregular activities are suspected. (vermaat, 2016)

Human Aspect: Awareness

Measure that can anticipate from burglary are utilizing locks, keen card or password and prevent transportability by limiting the equipment from being moved. It detect and protect all exits and record any equipment transported. For example of human perspectives awareness are association self-awareness, association client self-awareness and person client self-awareness. (waniey, 2017)


Internet banking services have been operated in Malaysia since 2001. Presently, only banking institutions licensed under the Banking and Financial Institution Act 1989 (BAFIA) and Islamic Banking Act 1983 are allowed to offer Internet Banking services here. There are 12 commercial banks (inclusive of Islamic banks) out of a total of 25 in Malaysia currently offering Internet Banking services. According to the 11th Malaysia Internet Survey conducted by AC Nielson, Internet Banking is the one of the most popular services utilised by Malaysian surfers. The survey found out that 51 percent out of the total respondent base of 8000 used the Internet for online banking once a month.

However, 2003 and 2004 saw the emergence of fraudulent activities pertaining to Internet Banking or better known in the industry as “phishing”. A total of 92 phishing cases were reported to the Malaysian Computer Emergency Response Team (MyCERT, in 2004. The modus operandi of this activity is to use spoofing techniques to gain names and passwords of account holders.

The victims reported being deceived into going to a fake website where perpetrators stole their usernames and passwords and later use the information for the perpetrators’ own advantage. Phishing is an attempt to commit fraud via social engineering. The impact is the breach of information security through the compromise of confidential data

Nowadays, online banking is very important as it can help us in various way. By using online banking we are able to get the access to our account easily. We can inquire our account balances, transfer funds and view our transaction history. Other than that, online banking is perform 21 hours, so we can access our account everyday and everywhere with the access to the internet. It is very conveniences. As we know that the internet is a wide area network of computers and connected around the world in order to facilitate data transmission and exchange

Due to the fact internet is universal, all web based services including online banking also have the possibility to get the security risk. Online banking is a financial organization so the most risk that always happen is phishing because the criminal wants to get the access to steal the money. Phishing is type of hacking that use many ways such as information theft, virus attack and unauthorized access. Information theft is occurs when the criminal uses your personal identifying information such as name security number. So the criminal will get access the account. Virus attack is commonly affected the online banking system will make the person to connect to their account as they will be connected to the false web site while the criminal get the access of their true online banking web site. The unauthorized access and use in phishing is use the computer or network without the owner permission. They can get the access by connecting to it and then logging in as legitimate user. It will cause damages but they will get access to the data, valuable information in the computer.

Despite all the risk, there were also ways to overcome. We called it as security measures. The example of security measure is physical access control, human aspect: awareness and antivirus. Physical access control helps to limits the access connections to computer network, system files and data. So the phishing activities can be prevent. Human aspect: awareness helps us as we can prevent the criminal from pursuing his action even he are able to steal money from your account by safeguard our personal information and reported the loss immediately so the bank can reimburse your account. Next, antivirus software that have special signatures that give protection and prevent the access to malicious attacks.

We should keep in mind that phishing can be sophisticated and we must always alerted on the online interface and protecting our financial information from phishing attack.

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Abstract Online Banking is one of the major financial activities which will be carried out by any person who has a bank account. There are different activities that can be carried out once you log in to your bank account. Once a user logs in he or she can check the bank balance, check bank account transaction history or account summary, add beneficiary accounts, transfer funds to another account, download account summary. When we deal with a banking system main...

Abstract With the invention of the Internet, the rise of technology and bring your own devices, it has revolutionized the human society forever in terms of creating a new environment to do existing activities in a more efficient way. Realising the importance of this, banks have also made their presence online, giving their clients’ the ability to monitor their assets and conduct transactions via mobile banking applications anywhere, anytime as long as the Internet is present. Almost every shop, every...

Introduction As in the case study that Mr. Raj has recently graduated and got placed in a private sector bank and is unaware of the banking sector and its operations. Being his reporting manager, you need to brief him with the Principles of lending and need to explain him in details. Lending in its most general sense is the temporary giving of money or property to another person with the expectation that it will be repaid. In a business and...

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Internet Banking Effects and Results Essay

Introduction, development history, technical description/process of how it works, effects of internet banking.

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Internet banking has certainly played a key role in the increase and ease of banking services the world over and the reasons for this are not difficult to discern. Online banking provides flexible opportunities for online services to customers. The highly integrated Customer Relationship Management (CRM) supported by advanced software integrates the basic financial services in demand the world over by individuals and organizations. The three central areas of organizational requirements that include operational, analytical, and collaborative are addressed. CRM and online banking systems and their benefits have generated few research studies but continue to grow and dominate the activities within the banking sector thus defining and shifting the culture in which we handle our finances. The reason I have settled on this topic is based on personal experience I had with my Dad when I was very young. To access banking services, one had to not only keep time but also make a long line behind other clients. This is the exact position we found ourselves in some fifteen years back in our attempt to access banking services. That is no more because internet banking has revolutionized the culture in the banking industry.

At the beginning of the 20 th century in the United States, demand exceeded supply and this precipitated a move by the company to change their business strategies in concentrating on selling as many products as they could afford to. In this case, companies did not pay attention to the customer and the customer’s needs and requirements. Heiko, Wayne, and Robert (1994) explain that “suppliers focused on product development, manufacturing capacity, and securing distribution outlets, without regard to their consumers”. In the middle of the 20 th century, however, the economic situation changes, and by this time consumers had the power of choice due to excess supply which exceeded demand. Heiko, Wayne, and Robert (1994) point out that “The era of the passive consumer was coming to an end. Companies began to find out what their customers were, what they wanted, and how they could be satisfied; they analyzed data about their customers and segmented them based on their demographics, such as age, gender, and other personal information. Then they promoted their product or service to a specific subset of customers and prospects”. This period was characterized by target marketing where each company invested much of its efforts on four P’s (price, promotion, product, and placement).In this regard, the concept of CRM and internet banking came in the late 1990s. Although there is no clear definition of CRM, Fareena and Roy (2000) define it as follows: Customer Relation Management “is about understanding the nature of the exchange between customer and supplier and managing it appropriately. With the advent of internet banking, companies changed their business emphasis in increasing the ‘share of wallet’ of their customer. They developed a close connection with their customers and took into consideration the customer needs, requirements and demands. All these were done to satisfy customer demands as well as retain them. The emergence of CRM on the other hand made marketers carry out a comprehensive analysis of the customer. This was done with to categories customer based on long term period and retention. Moreover, this strategy contributed to cross-selling and up-selling (Greiner, 1972). In addition to the above, the dynamics of changing demographics and consumer purchasing patterns, coupled with ever stronger competition, have certainly put increased pressure on banks to adopt cutting-edge technologies to meet the growing demands of the consumer. These have impacted a lot on the banking sector globally and as such have devised new avenues for driving customer relations and developing distinct competencies that will ensure their survival. The adoption of CRM and internet banking has brought with it several benefits both to the customers and the banks. The scale of operations has improved and banking services the world over have not only been made easier but have also recorded a decline in general costs. These have impacted immensely on the culture of how we shop, procure goods, access our cash deposits, and relate with our banking services providers. One fundamental aspect of quality life is the ease by which we access both goods and services in fulfilling the constant demands in our lives. This has been made so by the rapid development of internet banking that has revolutionized our shopping culture.

Internet banking; also referred to as e-banking allows clients to carry out financial transactions on a secure site that belongs to their banking services provider. This can either be a virtual bank or a credit union. They offer safe banking solutions to their customers on the internet and have been embraced by a large number of clients the world over due to their ease and convenience in accessing banking services. Common transactions that are offered by internet banking include bill payments, wire transfers, account-to-account transfers, loan applications, and the opening of new accounts. In addition to the above, it offers non-transactional services to the clients such as online statements and lives chats with the customer relations services. Security is handled by the authentication of a single password in the form of PIN/TAN or signature-based online banking that involves the digital encryption of all transactions.

In the analysis of the world’s economy, the online banking service sector has precipitated the increase in the number of those using banking facilities and drastically changed the culture of our banking and shopping. This translates to a more vigorous banking sector that can play an important in an economy. The general population has befitted immensely from the availability of loans and capacity to provide safe custody for the deposits at the touch of a mouse. Shortly, the rate of internet banking will depend on the rate at with the customers embrace and appreciate the use of internet banking in carrying out their financial transactions and the ability to instill mote secure online banking operations that can deal with cybercrimes.

Online banking has remained a business topic that has generated much impact because of its ability to only ease the banking process but also effectively deal with the increasing demands of fast, safe, and convenient banking services. This is because it has enabled us to acquire the basic goods and services with little effort in comparison to the traditional model of buying and selling. It is therefore worth appreciating that the little things that make human lives easy impact greatly on our culture.

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IvyPanda. (2021, December 27). Internet Banking Effects and Results.

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IvyPanda . 2021. "Internet Banking Effects and Results." December 27, 2021.

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About internet banking.

                          Introduction and History of Internet Banking 2.              What is the "Brick-to-click- banks 3.                           How to manage your accounts online 4.              Transfer money 4.              Parts of the E-banking 5.              a, E-mail payment 5.              b, Online shopping (Loans and Credit cards): 6.              Credit cards 6.              c, Investing 7.              E-banking solutions 8.              Online Banking Services 11.              Securities of E-banking 12.              Comprehensive security control process 12.              Establishment of clear audit trails for e-banking transactions 13.              Confidentiality of bank information 14.              Authentication of e-banking customers 14.              Availability of e-banking systems 14.              Internet Banking in Hungary 15.              Advantage and Disadvantage of E-banking 16.              Advantages: 16.              Disadvantages: 17.              Questions 18.              Introduction of BNP's Electronic Banking system 19.              About Electronic Banking (EB) system in general 19.              How does EB work? 19.              Control functions, accessing data for previous transfers 20.              Managing partner data 20.              System and data security 21.              Conclusion 22.              References 23.              Introduction and History of Internet Banking.              First I would like to introduce the E-Banking and tell why is it so new and important in the Bank sector and daily life. In today's fast-paced, e-everything business environment, the process of making and receiving payments or managing your banking functions seems trapped in a time warp: It's inefficient, time-consuming and costly. The forms and shapes that money takes continue to evolve. To coins and banknotes have been added cheques and credit cards and, most recently, electronic money - or e-money. E-banking has been around for some years in the form of telephone banking and automatic teller machines. The growing popularity of the internet and mobile phones means that more customers can access banking services through electronic channels. E-Banking can help you reduce administrative expenses, improve productivity and better manage cash in a completely secure environment.              In this case the Internet banking history separated two generation.

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By offering a variety of banking services and investment advice through the telephone and the Internet, Advance Bank developed a banking system that surpassed the other banks in Germany. ... The universal customers represent about 80% of the potential customers, but it only generates a profit of about DM650 annually for the bank. The private investors represent only about 2% of the potential customers, but it generates a profit of about DM5,000 annually for the bank. ... In addition to the Internet access, Advance Bank plans to incorporate the telephone into the Internet banking services,...

2. The internet

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The Internet The Internet is like a network of networks where any computer can link up to information stored within it. ... Other services the Internet has to offer are things such as Online Banking. ... As well as Online Banking, the Internet offers things such as home shopping. ... Another good point about the Internet is that it provides e-mail. ... Some people are also worried about how much information can be gathered from our PC and stored by sites. ...

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Service quality can be described as the gap between customers' real service and their expectations about the service. ... Tangibility is about materials, equipment and external appearance of the employees. ... In this way the customer will feel appreciated and sure that had made a good decision about its bank choice. ... In this way, they would be confident about the management of their sources. ... The development of the technology and banking system has lead to the creation of different forms of banking services such as; internet banking, phone banking and also automatic tellers. ...

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No conversation about the technological advancements of the last ten years could be had without including the phenomenon that is the Internet. ... Before delving into these changes, a brief look at how the Internet has developed might be beneficial. ... With the total number of households connected to the Internet reaching nearly 111 million in 2003, the Internet has unquestionably increased. ... Hacking is more than ever something to be concerned about, and with the threat of virus" not getting any lighter, is it any wonder. ... For example, the use of Online Banking has reached i...

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At the head of this revolution is the Internet. ... The Internet is fast becoming the world's source for information. ... The Internet has changed the way people gather information. ... Companies now use the Internet to reach customers. ... Online banking services are a relatively new service. ...

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The Internet: A Link to the World Imagine talking about the latest elections with someone three thousand miles away without receiving a large phone bill; or sending a letter to a friend or relative and having it arrive one second later. ... How the Internet Works). ... "Internet."). ... It lets people expand their horizons and learn about different countries and cultures by getting insight into others people's lives across the globe. ... "Internet History." ). ...

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One of the recent innovations the internet made available is online commerce, which includes online shopping, online banking, online trading and many more. ... This is not true anymore with the expansion of the internet to include online banking. ... But, the dark side of the internet reveals some serious drawbacks. ... This is wonderlessly why internet communities are very much concerned about security. ... The internet has also its weaknesses, some of which can be very damaging. ...


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