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Online banking

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  • 1. ONLINE BANKING Submitted byPreet Raj
  • 2. Topic covered….  Online banking  Features  Benefits  Drawbacks  Security features  Conclusion
  • 3. ONLINE BANKING  Online banking (Internet banking) allows customers to conduct financial transactions on a secure website operated by the institution.  It may include of any transactions related to online usage  To access a financial institution's online banking facility, a customer having Internet must register with the institution and set up some password for customer verification.
  • 4. FEATURES  A bank customer can perform some non-transactional tasks through online banking, including – 1. viewing account balances viewing recent transactions downloading bank statements viewing images of paid cheques ordering cheque books 2. 3. 4. 5.
  • 5. FEATURES (contd…)  Bank customers can transact banking tasks through online banking, including1. Funds transfers between the customer's linked accounts 2. Paying third parties, including bill payments 3. Investment purchase or sale 4. Loan applications and transactions, such as repayments of enrollments
  • 6. ONLINE BANKING GRAPH
  • 7. BENEFIT OF ONLINE BANKING  Anytime banking and anywhere banking  Reduction in cost of transaction  Pay bills online there by saving postal service  Easy to make utility payment  Online purchase  Service is available 24x7  Online banking is much cheaper for the bank. A survey says that Online Banking costs only 10% of branch services
  • 8. DRAWBACKS OF ONLINE BANKING  Difficult in adoption of technology  Bank site changes  Need an account with an Internet Service provider  Security concern, like “hackers” accessing your bank account  High cost of technology  Must have basic computer skills and internet knowledge
  • 9. SECURITY FEATURES  Security is a primary concern in internet banking  SSL(secure sockets layer) protocol is used to ensure data security between customer browser and web server  Customer database is protected by double firewalls  User name and pins  Anti-virus
  • 10. SAMPLE SAFETY MEASURES  Change your password periodically  Review your bank accounts frequently  Try to use low limit credit card for internet transaction
  • 11. CONCLUSION  The strategy of bank is to provide value added service and product to the customer, utilizing the internet extensively  The main aim is to making transactions through online possess and make customer more beneficial
  • 12. Thank You