Traditional banking involved customers visiting physical bank branches during limited hours, requiring many bank staff. Now, customers can bank remotely using ATMs, call centers, and online banking. While this reduces costs for banks and improves convenience for customers, it also introduces new risks like fraud and security issues that banks must address. Both banks and customers experience advantages and disadvantages to digital and online banking.

1. ICT in Banking

3. The branches were only open 9am-3pm Monday to Friday, which was very inconvenient for people who worked full time.

5. This save the customers time,

7. Withdraw money,

8. Print statements

9. Transfer funds between accounts,

10. Pay utility billsCustomers are able to use almost any ATM in any bank, supermarket or garage and it is normally a free service.

11. Call Centers Call Centers is a facility where large numbers of workers spend the day (or/and night) answering telephone calls from customers. The staff deals with customers from any branch around the country. Call centers save banks a lot of money because they could deal with a large number of calls from customers quickly and efficiently. Call centers could be set up in countries where there are plenty of people who speak fluent English and are willing to work for a much lower wage.

12. Online banking Now the customers can open accounts, check their balances online, move money, pay bills and print statements from the comfort of their own homes. Most major banks now offer online banking and some are offering Internet only banking. Without the overheads of running and staffing high street branches they can offer higher rates of interest to customers.

13. Drawbacks With Online banking, bank fraud - on an industrial scale - could be done from outside, without having to rely on bank employees to pull it off. Phishing sites are fake banking websites used by hackers to get the logon details of customers. Trojans - bits of rogue software downloaded to people's computers without their knowledge –can be used to "sniff" keystrokes; this can be avoided to some extent using onscreen keyboards that work with mouse instead of physical keyboard. But then the Trojans can take screen shots!!!

15. It allows customers to access their accounts 24 hours a day without having to have branches open.

16. The customers do all of the work themselves so staff numbers can be reduced.

17. No need of having high street branches, thus saving rental costs

18. Less staff are needed so staff costs, insurance, heating and lighting costs are saved.

19. Banks can attract new customers to their online business for a fraction of the cost it takes to get one through the door of a high street branch.

21. You can do almost everything from the comfort of your own home

22. You can bank at a time convenient to you, 24 hours a day, 7 days a week

23. You don't need to queue up in a branch to be served.

24. You don't need transport or have to waste time driving to the bank and trying to find a parking place

25. You can get instant statements for your account(s).

26. The savings rate offered are often better than the High Street as online Banks pass on their cost savings.

27. It is easy to compare deals between banks and special offers

29. There is a need to be always one step ahead of criminals so investment must be made in coming up with new ways to keep customer accounts secure.

30. Less Customer contact and so it is harder to build personal relationships with their customers

31. It is difficult to convince a customer to buy an offer through website than meeting him in person.

32. Banks have to employ specialist web developers and expensive computers to run the site.

34. Can’t get to see who they are dealing with.

35. If there are problems to sort out, then it is much easier to explain the problem face to face rather than having to use email or telephone.

36. You can't deposit cheques or cash. You will need to visit the branch or send by post.