2. What is Internet Banking?
• Internet Banking allows you to conduct bank
transactions online, instead of finding a bank
and interacting with a teller.
• In a broad sense, it is the use of electronic means
to transfer funds directly from one account to
another rather than by cheque or cash.
3. Definition
• A system of banking in which customers can
view their account details, pay bills and transfer
money by means of the internet.
• The remote delivery of new and traditional
banking products and services through
electronic delivery channels
4. History
Online services started in New York in 1981 when
four of the city's major banks
Citi Bank
Chase
Manhattan
Chemical
Manufacturers
Hanover
offered home banking services using the
videotex system.
7. Services
• Bill Payment
• Download Bank Statements in PDF format
• Credit Card
• Insurance
• Customer services
• Recharging you prepaid phone
• Shopping
8. Requirements for Internet Banking
• Internet acess
• Registration with institution
• Authorized Website
• Username and Password
9. How to use Internet
Banking?
Step 1 : Access Internet Banking – Obtain your
User Id and Password.
Step 2 : Create your Own Unique User ID.
Step 3 : Link the Account Number to your User
ID.
Step 4 : Log in and make your transactions safely.
11. Benefits for Banks
• Larger customer coverage Reducing the costs of
operations.
• Promoting their services and products
internationally.
• Increasing the customer satisfaction and
providing a personalized relationship with
customers .
12. Benefits for Customers
• Convenience 24 hours a day, seven days a week
• Cost Less
• Speed Banking
• Easy Communication
• Transaction Speed
• Efficiency
13. ISSUES IN INTERNET BANKING
• Security Issues
• Learning Difficulties
• Lack of Skills
• Technical Problems
14. Attacks
Attacks on online banking used today are based on
deceiving the user to steal login data and valid
TANs.
• 536 cases of computer intrusion, with an average
loss per incident of $30,000.
• $16-million loss in the second quarter of 2007.
“2008 U.S. Federal Deposit Insurance Corporation Technology Incident
Report”
15. Persecutions For Bank
• Should provide specific guidance to their
customers
• Should take the adequate measures to ward off
any problems related to the security of internet
banking
• Online banking tutorials should be provided to
help familiarize people with internet banking
16. Persecutions For Customers
• Should not disclose their customer IDs (e.g.,
account numbers) or passwords to anyone else.
• Periodically change their passwords
• Should promptly log out from the service
• Should regularly check their account balances and
statements to identify unusual transactions.
