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E-banking.pptx

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E-banking.pptx

  1. 1.  Electronic banking is a method of banking in which the customer conducts transactions electronically via the internet. Facility to securely access funds, account information and other banking services through a pc over a wide area network or internet. Also called electronic banking. E-banking is a safe, fast, easy and efficient electronic service that enable you access to bank account and to carry out online banking services, 24 hours a day, and 7 days a week. With this service you save your time by carrying out banking transactions at any place and at any time, from your home or office, all you need is internet access.
  2. 2. E-banking enable the following  - Accurate statement of all means available in your bank account  - Statement of current account, credits, over drafts and your deposits  - Execution of national and international transfers in various currencies  - Exclusion of all types of utility bill payments (electricity, water supply, telephone bills, etc… )  - Carrying out customs payments  - Electronic confirmation for all transactions executed by E-banking  - Management of your credit cards
  3. 3.  E-banking is a product designed for the purpose of online banking that enables you to have easy and safe access to your bank account.  Online banking, also known as internet banking, e-banking or virtual banking, is an electronic payment system that enable customers of a bank or other financial institution to conduct o range of financial transactions through the financial institution’s web site. The online banking system will typically connected to or be part of the core banking system operated by a bank and is in contract to branch banking which was the traditional way customer accessed banking service.  to access a financial institution's online banking facility, a customer with internet access will need to register with the institution for the service, and set up a password and other credentials for customer verification. the credentials for online banking is normally not the same as for telephone or mobile banking.  financial institutions now routinely allocated customer numbers, whether or not customer have indicated an intention to access their online banking facility. customer numbers are normally not the same as account number. because a number of customer accounts can be linked to the one customer number. technically, the customer number can be linked to any account with the financial institution that the customer controls. through the financial institution may limit the range of accounts that may be accessed to say, cheque, saving, loan, credit card & similar accounts.  the use of computer to carry out banking transactions such as withdrawals through cash dispensers or transfer of funds at point of sale.
  4. 4. TypesofE-banking Various forms of E-banking  -Internet banking: internet banking helps your manage many banking transaction online via your pc.  -Automated teller machine(ATM)  -Tele banking  -Smart card  -DEBIT card:- master card debit card  - points of sale  -E-CHEQUE & other forms of electronic banking.
  5. 5. smart card  A more secure method is to require possession and use of tamper-resistant plastic cards with microprocessor chips, known as “smart cards,” which contain a stored password that automatically changes after each use. When a user logs on, the computer reads the card's password, as well as another password entered by the user, and matches these two respectively to an identical card password generated by the computer and the user's password stored in the computer in encrypted form. Use of passwords and 'smart cards' is beginning to be reinforced by biometrics, identification methods that use unique personal characteristics, such as fingerprints, retinal patterns, facial characteristics, or voice recordings.
  6. 6. Automated Teller Machine  First introduced in the 1980s, ATMs are now common in most countries. Banks prefer that customers use ATMs for most transactions because the machines are inexpensive to operate compared to the cost of paying human tellers.
  7. 7. Debit or credit card  Increasing commercial use of the Internet has heightened security and privacy concerns. With a credit or debit card, an Internet user can order almost anything from an Internet site and have it delivered to their home or office. Companies doing business over the Internet need sophisticated security measures to protect credit card, bank account, and social security numbers from unauthorized access as they pass across the Internet (see Computer Security). Any organization that connects its intranet to the global Internet must carefully control the access point to ensure that outsiders cannot disrupt the organization’s internal networks or gain unauthorized access to the organization’s computer systems and data.  Instant messaging is another key feature of computer telecommunications and involves sending text, audio, or video data in real time. Other computer telecommunications technologies that businesses frequently use include automated banking terminals and devices for credit card or debit card transactions. These transactions either bill charges directly to a customer’s credit card account or automatically deduct money from a customer’s bank account.
  8. 8.  Electronic Point of Sale (EPOS), system used in retailing in which a bar code on a product is scanned at a cashier’s station and the information is relayed to the store computer. The computer relays back the price of the item to the cashier’s station. The customer can then be given an itemized receipt while the computer removes the item from stock figures.  EPOS allows for efficient computer stock control and reordering, as well as giving a wealth of information about turnover, profitability on different lines, stock ratios, and other important financial indicators.
  9. 9. Electronic fund transfer  Electronic Funds Transfer (EFT), method of transferring funds automatically from one account to another by electronic means. One example is electronic funds transfer at point of sale (EFTPOS), which provides for the automatic transfer of money from buyer to seller at the time of a sale. A customer inserts a plastic card into a point-of-sale computer terminal in a supermarket, for example. Telephone lines are then used to make an automatic debit from the customer's bank account to pay the bill.
  10. 10.  Tele banking is telephone banking. you have to dial with stipulated number &leave your intentions at any time and the bank will execute the transactions. now this has become obsolete. you can do your hand provided you have internet banking facility & one android phone with net connectivity.
  11. 11. AdvantageofE banking  No need to handle One advantage of electron banking is that the financial institution picks up the cost of handling for instant, if you use bill pay to send money to the a friend, of check and reading the envelope. In addition the bank pay for the postage to mail the envelope, so there’s a cost savings involved. Finally, you don’t have to remember to mail the payment, as the bank takes care of that.  Security concerns Advantage of E-banking, E-banking which includes any transaction you perform using the internet or a mobile device, is becoming more common. making electronic payments, paying bills and transferring money between accounts all elements of E-banking, which can be done from your cell phone or computer.
  12. 12.  Added convenience One of the major advantage of online banking is its convenience. Customers can make transaction and access data 24 hours a day, seven days a week from most devices with internet access. Mobile banking makes the process even more convenient thanks to applications that allow you to make deposits from your phone no matter where you are. The internet tends to speed the pace of translations.  Loss of human touch Some people still value taking and interacting with bank tellers. managers and other bank tellers, managers and other bank clients. electronic banking takes the majority of these ’’human interactions’ ’away, leaving the banking experience as a very hands-off, impersonal process.
  13. 13. Disadvantageofelectronicbanking  banking without walls more banks are closing branches due to increased use of online banking, according to the Harvard business review. while this helps financial institutions cut costs, it represents a disadvantage for consumers who prefer to make some banking transaction face-to- face security and trust can be critical in deciding where to open a new account or how to handle a complex transaction. when people can't get the personal service they need online, they may go to another institution that offers both traditional branches and electronic banking service.  security issue while electronic banking generally is secure, the potential for a data branch is one of its biggest disadvantage. financial institutions must have valid security certificates and a customer authentication process. if hackers do break into a system, the problems resulting from identity the following can wreak havoc with your credit. in addition, scammers spoof banking website to lure customers into giving personal information to criminals. if you enter your login information into a scammer's page, he can access your funds and siphon them off into his own accounts.

Editor's Notes

  • to access a financial institution's online banking facility, a customer with internet access will need to register with the institution for the service, and set up a password and other credentials for customer verification. the credentials for online banking is normally not the same as for telephone or mobile banking.
    financial institutions now routinely allocated customer numbers, whether or not customer have indicated an intention to access their online banking facility. customer numbers are normally not the same as account number. because a number of customer accounts can be linked to the one customer number. technically, the customer number can be linked to any account with the financial institution that the customer controls. through the financial institution may limit the range of accounts that may be accessed to say, cheque, saving, loan, credit card & similar accounts.
    the use of computer to carry out banking transactions such as withdrawals through cash dispensers or transfer of funds at point of sale.

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