Internet Banking
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Internet Banking

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Internet Banking Presentation Transcript

  • 1. Internet Banking
    RITU
    AND
    JASDEEP SINGH
  • 2. Bank statement ,with the possibility to import data in a personal finance program such as Quickenor Microsoft Money
    Electronic bill payment
    Fund transfer between a customer’s own checking and saving accounts , or to another customer account
    FEATURES OF INTERNET BANKING
  • 3. Investment purchases or sale
    Loan application and transactions, such as repayment
    Account aggregation to allow the customers to monitor all of their accounts in one place whether they are with their main bank or with other institutions.
  • 4. Round –the –Clock Banking
    Convenient Banking
    Low –Cost Banking
    Profitable Banking
    Quality Banking
    Speed Banking
    Service Banking
    ADVANTANGES OF INTERNET BANKING
  • 5. For Banks:
    • Cuts payroll costs
    • 6. Extends to new markets
    • 7. Flexibility
    • 8. Image of Company
    For Consumers:
    • Saves time/Money
    • 9. Flexible
    • 10. Can log on from almost anywhere
    • 11. Convenient
    • 12. Transaction Speed
    Benefits of Online Banking
  • 13. Start-Up Cost
    a)connection cost to the internet or any
    other mode of electronic communi-
    cation.
    b)cost of sophisticated hardware ,soft-
    ware
    c)cost of maintenance of all equipment,
    websites ,skill level of employees
    d)setting up organizational activities.
    CONSTRAINTS IN INTERNET BANKING
  • 14. Training and Maintenance
    Lack of Skilled Personnel
    Security
    Legal Issues
    Restricted Clientele and Technical Problems
  • 15. Malicious threats could include:
    hackers attempting to penetrate a system to read or alter sensitive data
    burglars stealing a server or laptop that has unprotected sensitive data on its disk
    imposters posing as legitimate users and even creating a website similar to yours
    authorized users downloading a web page or receiving an email with hidden active content that attacks your systems or sends sensitive information to unauthorized people
    COMMON MODES OF ATTACK
  • 16. Authentication
    A user name and password combination, where the
    password can vary in length and include numbers and
    characters. Remember to include a system that prompts
    employees to change their passwords at regular
    intervals.
    "Two-factor" authentication requiring something the
    user has (eg an authentication token) and something
    the user knows (eg a personal identification number).
    A digital certificate that enables authentication through the
    use of an individual's unique signing key.
    A person's unique physical attribute, referred to as a
    biometric. This can range from a fingerprint or iris scan,
    through to retina or facial-feature recognition.
    SECURITY CONTROLS
  • 17. 2. Access control
    Network restrictions to prevent access to other computer systems and networks
    Application controls to ensure individuals are limited in the data or service they can access
    Restrictions on what can be copied from the system and stored on pen drives, memory sticks or CDs/DVDs
    Limits on the sending and receiving of certain types of email attachments
  • 18. 3.Encryption
    This technique scrambles data, and is used to protect information that is being either held on a computer or transmitted over a network. It uses technologies such as virtual private networks (VPNs) and secure socket layers.
  • 19. 4.Firewall
    This is a hardware or software security device that filters information passing between internal and external networks.
    It controls access to the Internet by internal users, preventing outside parties from gaining access to systems and information on the internal network.
    A firewall can be applied at the network level, to provide protection for multiple workstations or internal networks, or at the personal level where it is installed on an individual PC
  • 20. 5.Intrusion detection
    These products monitor system and network activity to spot any attempt being made to gain access.
    If a detection system suspects an attack, it can generate an alarm, such as an email alert, based upon the type of activity it has identified.
  • 21. DO:
    • Make sure that you are on the correct website
    • 22. Make sure that you choose a password that will not easily be decoded
    • 23. Check monthly checking and credit card statements carefully each month
    • 24. Report errors or problems promptly
    • 25. Be sure to “Log Out” of website when finished
    Security Tips for Consumers
  • 26. DO NOT
    • Disclose personal information such as credit card or social security numbers unless you are 100% sure who you are dealing with
    • 27. Have other browsers open while you are banking online
    • 28. Download or open files that were sent from strangers because this could infect your computer and capture sensitive information without you even knowing
    Security Tips for Consumer
  • 29. Improve customer access
    Facilitate the offering of more service
    Increase customer loyalty
    Attract new customers
    Provide services offered by competitor
    Reduce customer attrition
    Drivers of Internet Banking