Internet Banking


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Internet Banking

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