1. World of Digital Banking – A
Strategic View
Author:
Muthu Siva
ME(Distinction), MBA(Australia)
FIC(UK), FCMI(UK), FBCS(UK)
Dated 29 Jan 2013
Version 1.0
27 March 2013
1
World of Digital Banking - Author: Muthu Siva

2. WORLD OF DIGITAL BANKING – A STRATEGIC VIEW
I am publishing this paper on 'World of Digital Banking' a strategic view. This channel is
becoming a ‘enabler’ and cash cow for the banks. 13 banks across
UK/USA/Australia/Asia/Europe (Barclays, Santander, HSBC, Lloyds TSB, RBS, ANZ
(Australia), Commonwealth Bank of Australia, JP Morgan, Bank of America, ICICI Bank,
Bank of China, Credit Suisse and Deutsche Bank) are selected for this strategic
comparison.
The main areas of study are :
• Registration for Online Banking
•Customer On-boarding time
•Online banking channel features
•Types of payments that can be made through online
•Online banking security
•Online banking compatibility with browsers and operating systems
•Customer service timings
•User Experience
This is a high level strategic comparison from customer perspective based on
information available in their respective websites.
I have also given 'what is special' about each bank and also chances for
improvement to acquire more market share. This is my personal view based on
customer/strategic perspective and digital banking experience.
NEXT: I am currently working on next version of paper with more details. This is due to
be released every three months.
27 March 2013
2
World of Digital Banking - Author: Muthu Siva

3. BARCLAYS
Link http://www.barclays.co.uk
Eligibility to Register Barclays Cash Card, authentication card or business debit
card and a valid UK postcode
Time to activate the 7 working days
service
Channel Features Statements will be available online for seven years.
Statements for closed accounts will be available for five
years following account closure
Customize the homepage, rename accounts. Transfer
between accounts, make payments to others or pay bill,
track payments, update personal details.
Export data to money management software.
All Barclays account will be automatically added to your
online banking.
Types of Payment Internal transfer up to 250k per transfer and many transfers
are allowed
Setup standing orders to an account within UK
Payments can be made to anyone. It takes same day
payment to Barclays account and same day or next day
payment to Non-Barclays accounts.
27 March 2013
3
World of Digital Banking - Author: Muthu Siva

4. BARCLAYS
Security Login online banking using PINsentry
Online Banking Guarantee
New payees setup for standing order requires PINSENTRY
Suggested to get Kaspersky Mobile Security Software
free of charge if you use Online Banking.
Online banking Microsoft Internet Explorer version 7 or higher
compatibility Mozilla Firefox version 3 or greater
Safari version 4 or greater
Opera version 10 or greater
Google Chrome 3 or greater
iPhones running iOS4.2.1 or later, Android 2.3 and above or
BlackBerry OS 5.0 and above.
Customer Support Phone - Lines open Monday to Sunday 7am-11pm
Online Forms
User Experience The functions seem to be useful but it is not easier and the
recent changes made in March 2012, had further
aggravated the problem. The technical aspects of the
banking system make it inefficient. But it is customizable and
allows users to identify with themselves.
Special and Needs Special - International Payments, New level of online banking
Improvement security - PINSentry
Needs Improvement - "Online banking unavailable" appears
often
4
World of Digital Banking - Author: Muthu Siva

5. SANTANDER
Link http://www.santander.co.uk
Eligibility to Register Debit or Credit Card
Time to activate the 5 to 7 working days
service
Channel Features Can view more than 4 years worth of transactions and
statements online.
Customers can customoize the summary view, rename
accounts, change order of display, transfer or move money,
pay bills, organize standing orders and direct debits, pull
money from external accounts, download transactions to
spreadsheet or other softwares, Set up and manage Savings
Goals, Order duplicate statements and tax certificates,
Order replacement PINs, cards and chequebooks, View and
update personal details, Set up to receive FREE alerts by
email or sms, Open a new accounts / rename and reorder
existing account, Set up an overdraft or request a new limit,
Check & repay Santander credit card balances
Santander Banking, Savings and Credit Card account
Types of Payment Santander Current or Savings accounts, arrive on the same
day; Santander Cards Ltd, arrive the same day but take a
working day to show on Santander credit card statement;
Non-Santander accounts in the UK will usually be available
the same day if it goes by 'Faster Payments‘
5
World of Digital Banking - Author: Muthu Siva

6. SANTANDER
Types of Payment Transfer money up to and including £100,000 between
accounts using Faster Payments Scheme
OTP Password to secure payment
Security Online banking guarantee
Free Rapport security software
A unique image and phrase combination to secure login
Recommended not to use when using public wi-fi
Online banking Mobile banking through any mobile phone with internet
compatibility access whose network allow secure SSL-enabled web traffic.
Mobile banking app is compatible with Iphone or Ipad.
Customer Support 7am-11pm Monday to Saturday and 9am-9pm Sunday
Messages
User Experience System has many useful funcitons but there has been wide
concerns regarding the inclusion of personal data in cookies.
There are technical issues regarding error pages, delay in
receiving passwords, frozen payments and accounts. These
delays, required visits to branches, repeated identification
verification process makes it difficult to be identified with the
customers.
Special and Needs Special - Faster Payments, OTP passcode, image and phrase
Improvement combination security
Needs Improvement - android mobile app, overall service
6
World of Digital Banking - Author: Muthu Siva

7. HSBC
Link https://www.hsbc.co.uk
Eligibility to Register Account number or Credit Card;
(10 digit personal banking number, 6 digit pin, HSBC secure key)
Time to activate the Immediate access using Tax ID number, HSBC ATM, credit or debit
service card and associated PIN
Channel Features Review the last 24 months of transactions for Personal Internet
Banking, View eligible checking and savings statements for the
last 12 months through eStatements
Pay bills, Online Check Images, Transfer funds, Bank to Bank
Transfers service, Initiate wire transfer requests, View information
about mortgage account, Obtain quotes for several insurance
products, View investment and brokerage balances, Request a
credit card line increase, Apply for HSBC select accounts and
services, Order new checks, Request copies of statements,
Request a Stop Payment for an HSBC check, Email Customer
Relationship Center, Online Password Reset
View balances and transactions on deposits, loans, credit card,
and mortgage accounts
Types of Payment Move up to $350,000 in or out of your HSBC account daily at one
time
Wire Transfer requests submitted before 3:00 PM Eastern Time on a
business day will be reviewed the same day
Bill Payments scheduled before 1:00 P.M. Eastern Time, Monday
through Friday (excluding federal holidays), will be processed on
that day.
Payments and other transfers secured through Online Guarantee
27 March 2013
7
World of Digital Banking - Author: Muthu Siva

8. HSBC
Security $0 Liability, Online Guarantee
Login Online Banking using Security key
$0 liability for unauthorized credit card charges, $0 liability for
unauthorized online bill payments or transactions on the
HBSC accounts
Online banking Microsoft Windows 7, Vista, XP, Apple OS 10.6.8
compatibility Internet Explorer Up to version 9.x, Firefox Up to version 11.x,
Safari Up to version 5.x, ChromeTM Version 18.x
Web-based mobile banking or Mobile App in Apple,
Android, Blackberry mobiles
Customer Support Lines are open 8am to 10pm every day except for Christmas
Day, Boxing Day and New Year's Day.
Online Messages
User Experience Easy to use, plenty of technical support online, appealing
visual design with everything clearly and logically laid-out.
Customizable making the customers identify with themselves.
Additional tools would give the users a wow experience.
Neverthless, it is valuable to customers with comparatively
additional features.
Special and Needs Special - facility to request the stopping of a cheque, have a
Improvement new PIN sent, secure key
Needs Improvement - No good financial management tool,
no sorting options, no way to bundle money.
27 March 2013
8
World of Digital Banking - Author: Muthu Siva

9. LLOYDS TSB
Link http://www.lloydstsb.com/
Eligibility to Register Need to be over 16, have a current account, credit card or
savings account. Joint account holders to register separately
Time to activate the 5-8 working days
service
Channel Features View your statements and transactions (as far back as 1 July
2002)
Money Manager tool, Bill Manager tool, order foreign
currency
View Lloyds TSB accounts which include most credit cards,
savings, loan balances and mortgage balances.
Can view statements, check balance, manage Direct Debits
and standing orders, move money and make payments,
apply to increase credit limit, apply for other products.
Types of Payment Payment limit of £25,000
BACS and Faster Payments, make same day payments
International Payments - Send up to £50,000 a day
(additional charges apply)
Secure Payments - Automated call to set up payee
27 March 2013
9
World of Digital Banking - Author: Muthu Siva

10. LLOYDS TSB
Security Internet Banking guarantee
Fraud detection, Automatic logoff, Secure logon,
Deactivation, telephone masking
Online banking Windows 7,Windows Vista,Windows XP,Windows 2000.
compatibility MAC OS X, Microsoft Internet Explorer version 7 or 8.
Mozilla Firefox version 3 or newer, iPhone iOS4.0 and above.
Android 2.2 and above, Blackberry 5.0 and above.
Most Nokia smartphones up to Symbian^3.
Customer Support open 7am - 10pm Mon to Fri and 8am - 6pm weekends.
Online questions
User Experience Easy to use service, well documented, transaction side is
efficient and concise. The recent changes to make it
customizable has gained popularity. The simple nature of the
system has attracted customers and adds value.
Special and Needs Special - Money manager, bill manager, real time balances
Improvement and transaction history back to 2002
Needs improvement – Collaborative tools like live chat to
support customers, secure messaging. Ability for customers to
do more personalisation.
Setting up payments can be without telephone banking
interaction. Better user experience by using SMS/email.
10
27 March 2013
World of Digital Banking - Author: Muthu Siva

11. ROYAL BANK OF SCOTLAND
Link http://www.rbs.co.uk
Eligibility to Register Aged 11 or over, have RBS account (need account number,
sortcode, debit card)
Time to activate the Immediate access
service
Channel Features View and search transactions and statements going back up to
seven years
Transfer money, make payments, arrange standing orders,
Direct Debits, Order stationery and card readers, apply for other
products.
View four months of credit card statements
Types of Payment Faster Payments, CHAPS
Secure payments through card reader
Multi currency account for international payments - an income
of at least £75,000 per annum, or £25,000 to deposit
Security Online and Mobile Security promise
Free Rapport Security software
Card Reader
Alerts service
11
27 March 2013
World of Digital Banking - Author: Muthu Siva

12. ROYAL BANK OF SCOTLAND
Online banking Iphone, Ipad, Android, Blackberry app
compatibility Windows XP or later – including Vista and Windows 7, MAC
OS X 10.4 or later,
Windows - (Microsoft Internet Explorer version 7 and above
Firefox 3.5 and above
Google Chrome 8 and above
Safari 4.x and above
Opera 10.0 and above
AOL 8.0 and above)
MAC - (Safari 3.2 and above
Firefox 3.5 and above
Google Chrome 8.0 and above
Opera 10.0 and above)
Customer Support Lines open 24 hours a day, 7 days a week
Online questions
User Experience Convenient and easy to use, simplified transaction search,
Customizable view makes digital banking favorable and
valuable.
Fast system and available mostly. Safe and Secure with track
records.
Special and Needs Special - Certificates of interest (makes tax filling easier),
Improvement Card Reader, International Payments
Needs Improvement - Financial management tools, bundling
options
12
27 March 2013
World of Digital Banking - Author: Muthu Siva

13. ANZGOMONEY
Link http://www.anz.com
Eligibility to Register Customer Registration Number and Telecode
Time to activate the Immediate access
service
Channel Features View online statements up to 7 years.
120 days of transaction history.
Money Manager - categorization, budget goals, spending limits,
notifications, reporting
Check balances, change contact details, pay bills, transfer
money
International services - Transfer fund overseas
Cheque/savings account, Card accounts
Investment accounts
Loan accounts
Term deposits
Types of Payment A limit of $50,000 per transaction and $75,000 per day applies
BPAY for Bill Payments
The daily limits range from $1,000, $5000, $10,000
13
27 March 2013
World of Digital Banking - Author: Muthu Siva

14. ANZGOMONEY
Security Online banking guarantee
Fraud detection systems
Encrypted data
Automatic time-outs
Online banking Windows 2000®
compatibility Mac OS X (10.6)
Windows XP® (SP2+)
Windows Vista®
Windows 7®
Internet Explorer® 9.x (preferred)
Internet Explorer® 8.x
Firefox® 13.x
Google ChromeTM 20.x
SafariTM 5.x
Iphone, Android banking app
Other mobiles - SMS based mobile banking
Customer Support 24 hours/7 days
Live Chat
Online Questions
User Experience Easy, reliable to use system, well-rounded with necessary
special features, value for money, continual support, without
much waiting and unnecessary delays.
Special and Needs Special - International services, green receipts, secure
14
Improvement
27 March 2013 banking. Needs Improvement – Transaction history for more
period
World of Digital Banking - Author: Muthu Siva

15. COMMONWEALTH BANK OF AUSTRALIA
Link http://www.commbank.com.au/
Eligibility to Register Account number, card pin and mobile phone
Time to activate the Immediate access
service
Channel Features view up to seven years of statements
View last 2 years of stored transactions
NetBank payment limits:
$20k for Unlinked Accounts
$100k for BPAY
$5k for International Money Transfers
Check transactions, transfer money, BPAY, Manage accounts,
Customize
Statement accounts, Passbook accounts, Credit Card accounts,
Home Loans/Mortage Interest accounts, Personal loans, Term
deposits
Types of Payment Online payments secured using Netcode - OTP
Extra verification and investigation for transfers to unlinked
accounts or third party
International Money transfers - upto $22 per transfer
15
27 March 2013
World of Digital Banking - Author: Muthu Siva

16. COMMONWEALTH BANK OF AUSTRALIA
Security 6 months Internet McAfee security
100% Security guarantee
Automated timeouts
Netcode SMS
Online banking Windows 7, XP, Vista,
compatibility MAC OSX
Internet Explorer 7 and above
Google Chrome (v16-v18)
Mozilla Firefox (v8 - v12)
Safari (v4, v5 & v5.1)
Safari (iPhone & iPad) recommend iOS5.1 (Requires iOS 3.1 or
later)
Webkit (Android mobile)
Android Honeycomb 3.0+
Android Ice Cream Sandwich 4.0+
Chrome app
Customer Support 24 hours a day, 7 days a week, Online Message and forms
User Experience Easy to use, highly accessible, powerful features making the
system valuable and identifiable with customers. A recent
scam of a fake website to obtain details of customers has
been rectified at last.
Special and Needs Special - Realtime banking and transaction history for
Improvement extended period
16
Needs improvement –Availability of banking for customers
World of Digital Banking - Author: Muthu Siva

17. CHASE (JP MORGAN)
Link https://www.chase.com
Eligibility to Register Social Security Number, Account number
Time to activate the Immediate access
service
Channel Features See and print 7 years of statements anytime.
View 24 months transaction history
Check balances, pay bills, transfer money, send overnight
checks, initiate wire transfers, view documents like Check
images, receipts, summaries
Checking/Savings account, Credit Card, Mortgages & Home
Equity, Auto Finance.
Types of Payment Online Bill Pay guarantee
Onetime or repeated payments
Security Online and Mobile banking guarantee
Fraud monitoring tools
Security Alerts
Zero liability
17
27 March 2013
World of Digital Banking - Author: Muthu Siva

18. CHASE (JP MORGAN)
Online banking Windows XP, Windows Vista, Windows 7
compatibility Internet Explorer 7 and higher
Firefox 3.0 and higher
Chrome 12 and higher
Mac OS-X Tiger, Leopard, Snow Leopard and Mountain Lion
Firefox 3.0 and higher
Safari 4.0 and higher
Chrome 12 and higher
Mobile app available for Iphone, Ipad, Android, Blackberry,
Kindle Fire, Windows Phone
Customer Support 7 AM to 9 PM, 7 days a week
Automated service - 24 hours/ 7 days
Online Message
Fraud report
User Experience Clean layout. Text based navigation makes process quick.
Provides overwhelming information. User friendly systems
makes the customer identify with themselves. Overall, the
online banking system is appealing and valuable.
Special and Needs Special - Online resources, Online Bill Pay.
Improvement Needs improvement - overwhelming information combined
with graphics and marketing blurbs gives a little disoriented
experience
18
27 March 2013
World of Digital Banking - Author: Muthu Siva

19. BANK OF AMERICA
Link https://www.bankofamerica.com/
Eligibility to Register Social Security Number, Account number, associated pin, email
address
Time to activate the Immediate Access
service
Channel Features View 12 months of transactions
View 18 months of statements
View 24 months of payment history
Check balances, receive alerts, transfer funds, bill pay, e-bills,
portfolio management, self service, download information
International and domestic wire transfers
Deposit accounts, credit card, mortgage, loan or line of credit.
Types of Payment Payments using safepass - one time 6 digit passcodes combined
with sitekey
Bill payments can be for any amount between $1.00 and
$99,999.99
Transfers submitted to the accounts of other Bank of America
customers may not total more than $1,000 during any 24-hour
period or $2,500 during any 7-day period.
19
27 March 2013
World of Digital Banking - Author: Muthu Siva

20. BANK OF AMERICA
Security Online banking security guarantee
Free year of McAfee Internet Security
Rapport online fraud protection
Secure Sitekey
Online banking Microsoft Internet Explorer 7.0 and higher
compatibility Firefox 3 and higher
Chrome 3.0 and higher
Safari 3.0 and higher
Firefox 3 and higher
Chrome 4.0 and higher
Iphone, Ipod touch, android, windows phone, black berry
mobile apps.
Customer Support Monday–Friday 7 a.m.–10 p.m
Saturday–Sunday 8 a.m.–5 p.m
Online message
Live Chat
User Experience Easy, convenient and userfriendly website,
attractive to customers, one-stop shop for most requirements,
provides value to customers, effective online bill payments
and ebills. Overall, provides an incredible environment for
customers
Special and Needs Special - Safepass and Sitekey fraud protection, ebills,
Improvement International transfers, Safe shop
20
27 March 2013
World of Digital Banking - Author: Muthu Siva

21. ICICI
Link http://www.icicibank.com
Eligibility to Register User id and password given at the time of account opening -
Savings Account holders
Credit Card holders
Demat Account holders
Loan Account holders
Time to activate the Immediate access
service
Channel Features Check out past transactions and statements from the date of
account opening.
Manage accounts, transfer funds, pay bills, shop, recharge
mobile, Money manager, international fund transfer, online tax
payment, Gold investment, forex, money order, trade shares,
pension calculator
Types of Payment International fund transfer - Remit up to USD 25,000
Bank, Credit card, demat and Loan accounts are linked.
Bill pay - one time registration for each biller
Payment secured through OTP
Quick pay
21
27 March 2013
World of Digital Banking - Author: Muthu Siva

22. ICICI
Security i-safe OTP
Secure login, cap on login attempts, timed logout, userid
expiry, firewall, 2048 bit secure socket layer, entrust digital
certificate
Online banking Microsoft® Internet Explorer 5.XX and above
compatibility Netscape® 7.XX and above
Windows 98, NT, 2000, XP
Android, Iphone, blackberry and other smartphones app -
iMobile
Customer Support 24 hours, 7 days
Online message
User Experience Easy to navigate, personalized look and feel, self-service
features. The technical problems and often occuring system
downtime causes major inconvenience to customers. The
system is quite valuable to users and gives a satisfactory
experience.
Special and Needs Special - Online features and security
Improvement Needs Improvement - Technical downtime
22
27 March 2013
World of Digital Banking - Author: Muthu Siva

23. BANK OF CHINA
Link http://www.boc.cn/en/
Eligibility to Register BOC Great Wall electronic debit card, BOC credit card or Great
Wall credit card, telephone banking service for the same card
are required for online registration.
Time to activate the Immediate access
service
Channel Features Record of online payment within the last one year
Enquiry of foreign exchange trading transaction status within 12
months
Account inquiry, fund transfer, bill payment, credit card inquiry,
investments such as forex, gold, fund, securities, treasury bond,
free SMS notification, service setting
Great Wall electronic debit cards, Great Wall RMB credit cards,
BOC series credit cards, passbook of current deposits, ordinary
current deposits, passbook of time deposits, installment savings,
interest withdrawal on principal deposited, and education
savings opened with BOC
Types of Payment Payment limit is freely set based on personal needs
Secure through E-Token
Automatic opening and flexible setting of payment cards
23
27 March 2013
World of Digital Banking - Author: Muthu Siva

24. BANK OF CHINA
Security Do not access online banking in public places
Security Applet free download - Security control
Online banking Windows 2000 or Windows XP(32-digit) or Windows Vista(32-
compatibility digit)
Internet Explorer version 5.5-7.5
mobile banking through the original WAP browser
Customer Support Emergency hotline
Online Forms
User Experience Simple instructions, easy to use system with bilingual - Chinese
and English versions. Clean layout and efficient navigation
system makes the system appealing and valuable to
customers.
Special and Needs Special -Secure transactions, easier wealth management
Improvement Needs improvement - Content Management
24
27 March 2013
World of Digital Banking - Author: Muthu Siva

25. CREDIT SUISSE
Link http://www.directnet.com/en/
Eligibility to Register An account with Credit Suisse AG, aged above 14. A direct net
contract application has to be completed and submitted for
online access.
Time to activate the
service
Channel Features View payments from last 45 days
View transactions and statements for the last 2 years
Manage assets, national and international payments, standing
orders, pay bills and ebills, real time portfolio holdings, financial
products over 60 stock exchanges, market data and research
reports, e-documents
Types of Payment Payments are secured through SMS secure code
Domestic payment, account transfer, international payment,
cash payment
Register with SIX Paynet AG for bill pay
25
27 March 2013
World of Digital Banking - Author: Muthu Siva

26. CREDIT SUISSE
Security Secure SMS code
SecureMail
Payments through secure environment
Online banking Windows 7, Vista, XP, MAC OS X >= 10.4
compatibility 128 bit encryption
IE 7.x, 8.x, 9.x
FF 3.x, 4.x
Safari 4.x, 5.x
Iphone Mobile app
Customer Support Mondays to Fridays
07:30 - 22:00
Saturdays and Sundays
09:00 - 16:00
Online Form
User Experience Clean system and easy to navigate, clear instructions and
documentation, enhanced features including investment
products. Bilingual. User friendly and easily identifies with
customers, proving valuable to users.
Special and Needs Special - Investment products and real time investment
Improvement Needs improvement - Mobile apps for other smartphones,
Online Guarantee and security
26
27 March 2013
World of Digital Banking - Author: Muthu Siva

27. DEUTSCHE BANK
Link https://www.db.com/index_e.htm
Eligibility to Register Customer ID and IPIN provided with welcome kit while opening
an account
Time to activate the Immediate Access
service
Channel Features View transactions and statements from the first day
Account balances, statements, mutual funds transfer, buy
stocks, transfer to non-Deustche banks, Online shopping,
transaction alerts
Fixed deposits, bank accounts, loans, investments and demat
holding accounts
Manage cheques, Order Demand Drafts, physical copy of
statements, update personal details.
Types of Payment Bill payment, DirectDebit, Tax payment, Quick pay, other bank
credit card bill
Payments secure through separate transaction password
27
27 March 2013
World of Digital Banking - Author: Muthu Siva

28. DEUTSCHE BANK
Security 128 bit encryption
Two passwords to provide enhanced security
Monitors Trojan program
Email and SMS alerts
Virtual keypad
Online banking Internet Explorer 6 or above
compatibility Windows 7, Vista, XP
Android, Iphone, Ipad Apps
Mobile Websites
Customer Support 24 hours a day, 7 days a week
Online Forms
User Experience Clear instructions with easy to navigate system. But it does
not load with FF or Safari enhancing the problems of
customers. The system is valuable based on the products and
features offered but it is difficult to identify with customers.
Special and Needs Special - Investment features
Improvement Needs improvement - Technical issues and compatibility with
browsers
28
27 March 2013
World of Digital Banking - Author: Muthu Siva