This document provides an overview of internet banking. It discusses how internet banking allows customers to perform banking transactions electronically via the internet. It describes the common features offered by online banking such as viewing account balances, paying bills, and transferring funds. The document also compares traditional banking to online banking, noting the conveniences of online banking like accessing accounts anywhere at any time, but also the security risks. Finally, the conclusion discusses how online banking may disrupt traditional banks by allowing new entrants to offer lower fees and more choices for customers.
CURRENT TREND IN INTERNET BANKING (SUBJECT -ENGINEERING ECONOMICS AND MANAG...Vraj Patel
1. NAME- VRAJ P. PATEL ,SUBJECT - EEM ,SY-COMP. -2 SVIT ,VASAD
2.Internet banking involves consumers using the Internet to access their bank account and to undertake banking transactions.
At the basic level, Internet banking can mean the setting up of a Web page by a bank to give information about its product and services.
At an advance level, it involves provision of facilities such as
accessing accounts
funds transfer
buying financial products or services online.
This is called ``transactional'' online banking.
3.BANKING SERVICES THROUGH INTERNET
4.Traditional Banking Vs. Internet Banking
5.Advantages of Internet Banking
6.EXAMPLE OF ICICI BANK
7.CASE STUDY RELATED TO CURRENT TREND OF INTERNET BANKING ,REVIEW OF WORLD WIDE INTERNET BANKING SCOPE ,
8. CONCLUSION
Awareness about E banking among indian consumers pptAnurag Singh
This is a power-point presentation of E banking research report
My research is based on Seconday data.
I did a thoroughly research on the awareness of E-banking services amongst indian customers.
The objectives of my research are:
1) To study about the role, need, types, frauds, impact of Internet banking on banks, customers and society, various frauds and ways to overcome them in internet banking, services offered by internet banking and its benefit to the customers and banks.
2) To study about the future perspective and awareness of internet banking among Indian customers and ways to increase awareness among the customers.
Introduction
Technology in the banks is presently catching up with a high level of development around the world. The gaps between the Indian banks and their counterparts in the technologically advanced countries are gradually narrowing down. The world has witnessed an information and technological revolution of late. This revolution has touched every aspect of public life including banking (Siam, 2006). Since two decades, due to an increasingly competitive, saturated and dynamic business environment, retail banks in many countries have adopted customer-driven philosophies to address the rapid and changing needs of their customers (Walker et al., 2008). Technological advances have changed the world radically, altering the manner in which individuals conduct their personal and business affairs. Over the past two decades in particular, the banking industry has invested substantial resources in bringing ICT to customers.
The banking industry is undergoing through the significant technological changes; it has several impacts on customer satisfaction and loyalty. ―It has revolutionised every industry including banking in the world by rendering faster and cost effective delivery of products and services to the customers. According to Chakrabarty, (2007) core banking solution enables banks to extend the full benefits of ATM, tele-banking, mobile banking, internet banking, card banking and other multiple delivery channels to all customers allowing banks to offer a multitude of customer-centric services on a 24x7 basis from a single location, supporting retail as well as corporate banking activities.
Now, Indian banks are investing heavily in the technologies such as branch automation and computerization, core banking, tele-banking, mobile banking (M-banking), internet banking, automated teller machine (ATMs), data warehousing etc. ICT innovations in the previous few years have changed the landscape of banks in India (Mittal and Dhingra, 2007; Kour and Kour, 2011). Today public sector and private sector banks are offering online banking services. Various alternative channels to provide easy and any where banking are properly thought of. The process of bank computerization was started since 1985 in public sector banks in India. However, some private sector banks have started computerization prior to the public sector banks in India. The banks in India are using ICT not only to improve their own internal processes but also to increase facilities and services to their customers.
CURRENT TREND IN INTERNET BANKING (SUBJECT -ENGINEERING ECONOMICS AND MANAG...Vraj Patel
1. NAME- VRAJ P. PATEL ,SUBJECT - EEM ,SY-COMP. -2 SVIT ,VASAD
2.Internet banking involves consumers using the Internet to access their bank account and to undertake banking transactions.
At the basic level, Internet banking can mean the setting up of a Web page by a bank to give information about its product and services.
At an advance level, it involves provision of facilities such as
accessing accounts
funds transfer
buying financial products or services online.
This is called ``transactional'' online banking.
3.BANKING SERVICES THROUGH INTERNET
4.Traditional Banking Vs. Internet Banking
5.Advantages of Internet Banking
6.EXAMPLE OF ICICI BANK
7.CASE STUDY RELATED TO CURRENT TREND OF INTERNET BANKING ,REVIEW OF WORLD WIDE INTERNET BANKING SCOPE ,
8. CONCLUSION
Awareness about E banking among indian consumers pptAnurag Singh
This is a power-point presentation of E banking research report
My research is based on Seconday data.
I did a thoroughly research on the awareness of E-banking services amongst indian customers.
The objectives of my research are:
1) To study about the role, need, types, frauds, impact of Internet banking on banks, customers and society, various frauds and ways to overcome them in internet banking, services offered by internet banking and its benefit to the customers and banks.
2) To study about the future perspective and awareness of internet banking among Indian customers and ways to increase awareness among the customers.
Introduction
Technology in the banks is presently catching up with a high level of development around the world. The gaps between the Indian banks and their counterparts in the technologically advanced countries are gradually narrowing down. The world has witnessed an information and technological revolution of late. This revolution has touched every aspect of public life including banking (Siam, 2006). Since two decades, due to an increasingly competitive, saturated and dynamic business environment, retail banks in many countries have adopted customer-driven philosophies to address the rapid and changing needs of their customers (Walker et al., 2008). Technological advances have changed the world radically, altering the manner in which individuals conduct their personal and business affairs. Over the past two decades in particular, the banking industry has invested substantial resources in bringing ICT to customers.
The banking industry is undergoing through the significant technological changes; it has several impacts on customer satisfaction and loyalty. ―It has revolutionised every industry including banking in the world by rendering faster and cost effective delivery of products and services to the customers. According to Chakrabarty, (2007) core banking solution enables banks to extend the full benefits of ATM, tele-banking, mobile banking, internet banking, card banking and other multiple delivery channels to all customers allowing banks to offer a multitude of customer-centric services on a 24x7 basis from a single location, supporting retail as well as corporate banking activities.
Now, Indian banks are investing heavily in the technologies such as branch automation and computerization, core banking, tele-banking, mobile banking (M-banking), internet banking, automated teller machine (ATMs), data warehousing etc. ICT innovations in the previous few years have changed the landscape of banks in India (Mittal and Dhingra, 2007; Kour and Kour, 2011). Today public sector and private sector banks are offering online banking services. Various alternative channels to provide easy and any where banking are properly thought of. The process of bank computerization was started since 1985 in public sector banks in India. However, some private sector banks have started computerization prior to the public sector banks in India. The banks in India are using ICT not only to improve their own internal processes but also to increase facilities and services to their customers.
Alternative banking, as the name suggest, is the NEWER METHOD OF CARRYING ON BANKING OPERATIONS
It includes
1. ATM (AUTOMATIC TELLER MACHINE)
2. POS TERMINAL
3. INTERNET BANKING
4. MOBILE BANKING
5. NEFT
6. RTGS
7. ECS
Lecture part of the IAB Digital MasterClass 2015 held under the guidence of New Bulgarian University and IAB Bulgaria. The lecture covers the digital in banking and more specifically in electronic channels in banking. The lecture concerns case study of Alpha Bank Bulgaria and the e-channels used by the bank.
This presentation is about technology internet banking or net banking which is very essential and helpful in our daily life..so in this ppt basic and some advance concepts are highlighted. i am sure this will be very much help full for u
E-Banking is one of the latest approaches to provide
comfort to the client regarding monetary transactions. Through
E-Banking the bank wants to introduce the core concept of IT
based Enabled Services (ITES). The major idea is to provide a
series of services to the customer through the internet, and make
the customer feel flexible in calling out simple tasks faster instead
of making visit to the bank every time. Today, one of the surest
most comfortable and less risk oriented faced by banking sectors
the application of electronic commerce. E-banking is considered
to have a substantial impact on banks’ performance. The main
reason behind this success is the numerous benefits it can
provide, both to the banks and to customers of financial services.
For customers it can provide a greater choice in terms of the
channels they can use to conduct their business, and convenience
in terms of when and where they can use E-banking. More and
more people are adapting to this technique and the banking
industry is bound to grow. The evolution of electronic banking
started with the use of automatic teller machines and has
included telephone banking, direct bill payment, electronic fund
transfer and online banking. This research shows that the
application of e-banking can help their local banks reduce
operating costs and provide a better and fast service to their
customer. It provides an insight into various aspect of E-banking.
Banking services offered by indian banks onlineeSAT Journals
Abstract Internet has revolutionized the world. It has changed the mindset of people from staying in touch with their friends, family, distant relatives or acquaintances to do online shopping, studying, searching things online, banking online. Internet has made the lives so easy and comfortable. It has actually groomed the lives in almost all domains. Today, a researcher does not have to actually sit in the library searching the data, reading it rather the user can search anything online very conveniently. Banking sector has also grown tremendously from the brick and mortar model to online banking not offering services to access the bank accounts only but now the banks are emphasizing on Electronic Fund Transfer. The paper highlights the various levels of services being offered by the banks online, when the banks have actually initiated e-banking in India and what kind of security measures have been taken by the banks to secure the data. Keywords: 3D Pin, EFT, Internet banking, Token, OTP, Virtual Keyboard
THIS EXPLAINS THE INTERNET BANKING AND ITS JOURNEY IN INDIA, BENEFITS OF INTERNET BANKING, OBJECTIVES OF INTERNET BANKING IN INDIA, INTERNET BANKING BOOM, PROCESS OF INTERNET BANKING
Use of technologies in the banking sector of BangladeshMasum Hussain
Among the financial service industry, the banking sector was one of the first to embrace rapid globalization and benefits significantly from technology development. The technological revolution in banking started in the 1950s, with the installation of the first automated bookkeeping machines at banks. This was well before the other industries became tech savvy. The first Automated Teller Machine (ATM) is reported to have been introduced in the USA in 1968 with only a cash dispenser. Automation in banking have become widespread over the past few decades as banks quickly realized that much of their labor intensive information-handling processes could be automated the use of computers. Against this background the paper examines the technology driven banking services reference to the present and future of Technology driven banking in Bangladesh.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
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Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
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Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
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what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.
Internet banking
1. D.A.V.V.
School Of Economics
3rd Internal Assignment
“IT FOR MANAGERS”
On
“Internet Banking”
Submitted By:
Ashutosh Kaurav
Dhiresh Chawla
Sunil Chichra
Vivek Pandey
2. Internet Banking
Introduction
Internet banking mixes with 2 words i.e. Electronic technology and
Banking. It is Process by which a customer performs banking
transactions electronically via internet.
The automated delivery of new and traditional banking products
and services directly to customers through electronic, interactive
communication channels.
It’s also known as online banking or E-banking.This new and
convenient way of banking has set a boom in our day to day life
The concept of Internet banking has been simultaneously evolving
with the development of the World Wide Web (www). The online
shopping promoted the use of credit cards through Internet.
The automated delivery of new and traditional banking products
and services directly to customers through electronic, interactive
communication channels.
Internet Banking offers consumers and business alike the ease of
managing banking and financial tasks from home. Online banking
has become a lifeline for those who cannot leave the house, or live
in rural areas where access to banks can be limited.
Online banking facilities offered by various financial institutions
have many features and capabilities in common.
The remote delivery of new and traditional banking products and
services through electronic delivery channels.
The common features fall broadly into several categories:
3. A bank customer can perform non-transactional tasks through
online banking, including Viewing account balances
Viewing recent transactions
Downloading bank statements
Viewing images of paid cheques
New Cheque Book ordering
Download periodic account statements
Depositing Taxes
Downloading applications for M-banking, E-banking
•
•
•
•
•
•
•
•
etc.
•
•
•
•
•
•
•
•
•
•
Funds transfers between the customer's linked accounts
Paying third parties, including bill payments
Investment purchase or sale i.e. investment services
Loan applications and transactions, such as repayments
of enrollments
Shopping
Ticket Booking
Prepaid Mobile Recharge
LIC & other insurance premium payments
Donations to NGO’s
Self-account funds transfer across India
Internet/Online banking is easy, reliable and convenient way to
fulfil our banking needs. This robust banking facility connects us
with our bank at our convenience, we don’t have to plan our day
according to bank hours, no more waiting in queue and even you
can check your balance whenever and wherever you want. Most of
the time online banking and internet banking are often used
interchangeably.
In this method, customer gets his bank account ID and password
and he can check his account, pay his bill and print his receipt
4. through his home personal computer which is connected with
Internet. E-banking is development of today banking system.
It refers to the provisions of electronic banking services via
internet through personal computer (PC) or other access devices
with internet capabilities.
From an economic perspective, information technology and
computer networks have enhanced the automation, speed and
standardization in communications and internal administration,
increasing customer convenience and functionally and reducing
costs in back-office and front desk banking functions.
Internet banking gives customers the ability to access virtually any
type of banking services in any place and at any time.
Many depository institutions contract with third party firms for
internet banking support services they choose not to provide
themselves.
ICICI was the first bank to initiate the Internet banking revolution
in India as early as 1997 under the brand name 'Infinity‘
ICICI Bank kicked off online banking way back in 1996. But even
for the Internet as a whole, 1996 to 1998 marked the adoption
phase, while usage increased only in 1999- due to lower ISP online
charges, increased PC penetration and a tech-friendly atmosphere
The Reserve Bank of India constituted a working group on Internet
Banking. The group divided the internet banking products in India
into 3 types based on the levels of access granted.
They are:- i) Information Only System ii) Electronic Information
Transfer System iii) Fully Electronic Transactional System
Information Only System
5. General purpose information like interest rates, branch
location, bank products and their features, loan and deposit
calculations are provided in the banks website.
There exist facilities for downloading various types of
application forms.
The communication is normally done through e-mail.
There is no interaction between the customer and bank's
application system.
No identification of the customer is done. In this system,
there is no possibility of any unauthorized person getting into
production systems of the bank through internet
Electronic Information Transfer System
The system provides customer- specific information in the
form of account balances, transaction details, and statement
of accounts.
The information is still largely of the 'read only' format.
Identification and authentication of the customer is through
password.
The information is fetched from the bank's application
system either in batch mode or off-line.
The application systems cannot directly access through the
internet.
Fully Electronic Transactional System
This system allows bi-directional capabilities.
Transactions can be submitted by the customer for online
update.
6. This system requires high degree of security and control. In
this environment, web server and application systems are
linked over secure infrastructure.
It comprises technology covering computerization,
networking and security, inter-bank payment gateway and
legal infrastructure.
Automatic Teller Machine (ATM)
ATM is designed to perform the most important
function of bank.
It is operated by plastic card with its special features.
The plastic card is replacing cheque, personal
attendance of the customer, banking hours restrictions
and paper based verification
HISTORY
Online services started in New York in 1981 when four of the city’s
major banks (Citibank, Chase
Manhattan, Chemical and Manufacturers Hanover) offered home
banking services
First internet banking service start in the UK 1983,Bank of Scotland
offers Nottingham Building Society (NBS) known as “home link”
connecting via a telephone and television to send transfers and pay
bills.
The first online banking service in United States was introduced, in
October 1994. The first online website was Stanford Federal
Credit Union, which is a financial institution.
In 2001, 19 million users start accessing bank accounts online
7. In 2005, Debit and credit was launched
In 2007, Apple launches I-phone and shifting of banking services via
personal computer or Smartphone begins
Technology has enabled numerous advantages and overcome the
traditional banking, offering the best of banking experience on
your fingertips.
Advantages Of Internet Banking
1. Convenience
2. No lines
3. Availability
4. Innovation
5. Easy to Operate
6. Friendlier Rates
7. Transfer Service
8. Ease of Transactions
9. Less Time Consumption (Speed)
10. Multiple Operations In Single Shot
11. Performance
12. Shop & Payment
13. Banking from anywhere in the world
14. Inexpensive
8. Disadvantages Of Internet Banking
1. Legal Issues
2. Setting up an account may take time
3. Site changes and Updates
4. Customer Services
5. Ease Internet Access
6. Security Concerns (Risks, Hacking)
7. Technical Breakdowns
8. Switching Banks
9. Money Usage (req. ATM)
10. Learning Difficulties
11. Computer Skills and Internet Knowledge Required
12. Required Hardware’s to operate (PC, handsets)
13. Banks himself don’t trust their own security systems
14. Relevant Operating system required (98, 2000, vista)
9. Online Banking versus Traditional Banking: – A Comparison
Traditional Banking
* Traditional banking is great because you can develop relationships
with your bank representatives. This is helpful when you’re
borrowing money, looking for sound advice or just like to know the
people who are managing your money.
* In traditional banking transactions you do not need any type of
security.
* Traditional banking also offers the convenience of easy deposits
and withdrawals. You know that your deposit will be in your account
the same day or the next day. And you can withdraw money during
regular banking hours.
* Traditional banks offer a number of features like money orders,
wire transfers and travelers checks, often without a fee. You can still
get these from banks where you don’t have an account but there is
usually a high fee involved to process.
* The only matters that you have to keep your bank papers of
bankbook safe.
* Traditional banks have security in the form of surveillance cameras
and occasionally they employ security guards.
* If you are having any problem related to the bank, you can
immediately go to the bank and solve your doubts.
* You can get any information related to bank and still have any
doubts you can immediately ask.
The downside to traditional banks is that you have to stick to their
business hours, which aren’t always convenient. You cannot access
your bank account when you’re out of town, and every time you need
to process a transaction you have to go to the bank.
* If the papers of bank are lost you may also lose the right of your
bank properties.
10. * In traditional banking sometimes your work may remain
uncompleted which is wasted of time.
*If employees are busy with their bank it is not possible that they
may give you the proper answer.
*Your bank papers are not secured through traditional banking
Online Banking
* Online banking means you can access your account from anywhere
at any time. You can get into your account, transfer money, pay a bill,
and make withdrawals and deposits from other accounts.
* Online banking is fast. You don’t have to leave your couch to
process a transaction.
* Online banking is often cheaper. In addition to being able to offer
competitive rates, many online banks don’t charge hefty fees and you
don’t have to pay for the gas to get there. And you save money on
postage if you’re paying bills electronically.
* Most online banks also send notices and statements via email,
which saves paper and notifies you immediately if there is any funny
business with your account.
However, the downside to online banking is that you need an internet
connection to interact with your account. You also have to be
comfortable using the computer. Finally, online banking poses some
security and identity theft risks. Most online bank accounts offer
advice, assistance and protections to keep your information and your
money safe.
* In online banking services one needs to count with an internet
service provider.
*Hackers may access your bank account
Switching banks can be more cumbersome online than one person.
11. CONCLUSION
E-banking transactions are much cheaper than branch or even
phone transactions. This could turn yesterday’s competitive
advantage – a large branch network –into a comparative
disadvantage, allowing e-banks to undercut bricks and mortar
12. banks. This is commonly known as the “Beached Dinosaur”
theory.
E-banks are easy to setup, so lots of new entrants will arrive . Old
world’ systems, cultures and structures will not encumber these
new entrants. Instead, they will be adaptable and responsive. Ebanking gives customers much more choice. Consumers will be
less inclined to remain loyal. Portal providers are likely to attract
the most significant share of banking profits. Indeed banks could
become glorified marriage brokers. They would simply bring two
parties together e.g. buyer and seller, payer and payee.
The products will be provided by monoclines, experts in their field.
Traditional banks may simply be left payment and settlement
business even this could be cast into doubt.
Traditional banks will find it difficult to evolve, not only will they
be unable to make acquisitions for cash as opposed to being able to
offer shares, they will be unable to obtain additional capital from
the stock market. This is in contrast to the situation for internet
firms for whom it seems relatively easy to attract investment.