SlideShare a Scribd company logo
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
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:
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
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
 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.
 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
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
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)
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.
* 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.
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
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.

More Related Content

What's hot

Technology and the Changing face of Banking Sector
Technology and the Changing face of Banking SectorTechnology and the Changing face of Banking Sector
Technology and the Changing face of Banking Sector
Hirni Mewada
 
E banking
E bankingE banking
E banking
manaspatil28
 
E banking
E bankingE banking
E banking
Nishant Pahad
 
E-banking
E-banking E-banking
online banking
online bankingonline banking
online banking
Rajat Goyal
 
e-banking
e-bankinge-banking
e-banking
Anmol Marya
 
E banking
E bankingE banking
E banking
Apeksha Bhatkar
 
E banking
E bankingE banking
Internet banking
Internet bankingInternet banking
Internet banking
SHIVA MOTURI
 
Internet Banking
Internet BankingInternet Banking
Internet Banking
Aman Singh (असर)
 
PROJECT-Impact of Internet banking services on customer loyalty
PROJECT-Impact of Internet banking services on customer loyaltyPROJECT-Impact of Internet banking services on customer loyalty
PROJECT-Impact of Internet banking services on customer loyalty
Nabarun Paul
 
Mobile banking
Mobile bankingMobile banking
Mobile banking
Sagar Anand
 
Mobile banking
Mobile bankingMobile banking
Mobile banking
Akshay Kumar
 
E banking Services
E banking ServicesE banking Services
E banking Services
Antony Kolanchery
 
E-Banking 2009
E-Banking 2009E-Banking 2009
E-Banking 2009
keerthi123
 
Role of technology in banking
Role of technology in bankingRole of technology in banking
Role of technology in banking
Er Kakkar
 
Digital banking and its benefits
Digital banking and its benefitsDigital banking and its benefits
Digital banking and its benefits
Vijaya Bank
 
Internet banking
Internet bankingInternet banking
Internet banking
ramandeepjrf
 
Mobile banking
Mobile bankingMobile banking
Mobile banking
Manoj Karangoda
 
Internet banking - College Project
Internet banking - College ProjectInternet banking - College Project
Internet banking - College Project
Sheril Daniel
 

What's hot (20)

Technology and the Changing face of Banking Sector
Technology and the Changing face of Banking SectorTechnology and the Changing face of Banking Sector
Technology and the Changing face of Banking Sector
 
E banking
E bankingE banking
E banking
 
E banking
E bankingE banking
E banking
 
E-banking
E-banking E-banking
E-banking
 
online banking
online bankingonline banking
online banking
 
e-banking
e-bankinge-banking
e-banking
 
E banking
E bankingE banking
E banking
 
E banking
E bankingE banking
E banking
 
Internet banking
Internet bankingInternet banking
Internet banking
 
Internet Banking
Internet BankingInternet Banking
Internet Banking
 
PROJECT-Impact of Internet banking services on customer loyalty
PROJECT-Impact of Internet banking services on customer loyaltyPROJECT-Impact of Internet banking services on customer loyalty
PROJECT-Impact of Internet banking services on customer loyalty
 
Mobile banking
Mobile bankingMobile banking
Mobile banking
 
Mobile banking
Mobile bankingMobile banking
Mobile banking
 
E banking Services
E banking ServicesE banking Services
E banking Services
 
E-Banking 2009
E-Banking 2009E-Banking 2009
E-Banking 2009
 
Role of technology in banking
Role of technology in bankingRole of technology in banking
Role of technology in banking
 
Digital banking and its benefits
Digital banking and its benefitsDigital banking and its benefits
Digital banking and its benefits
 
Internet banking
Internet bankingInternet banking
Internet banking
 
Mobile banking
Mobile bankingMobile banking
Mobile banking
 
Internet banking - College Project
Internet banking - College ProjectInternet banking - College Project
Internet banking - College Project
 

Viewers also liked

DIFFERENT CHANNELS OF BANKING
DIFFERENT CHANNELS OF BANKINGDIFFERENT CHANNELS OF BANKING
DIFFERENT CHANNELS OF BANKING
Ravi Arora
 
Electronic and mobile banking
Electronic and mobile bankingElectronic and mobile banking
Electronic and mobile banking
Bilal Malick
 
Alternative channels of banking
Alternative channels of bankingAlternative channels of banking
Alternative channels of banking
Ravi Arora
 
E-channels in banking
E-channels in bankingE-channels in banking
E-channels in banking
Nikolay Spasov
 
Internet Banking PPT
Internet Banking PPTInternet Banking PPT
Internet Banking PPT
ayush goyal
 
Online banking ppt
Online banking pptOnline banking ppt
Online banking ppt
Vishnu V S
 
E banking
E bankingE banking
E banking
Abhishek Tanna
 

Viewers also liked (7)

DIFFERENT CHANNELS OF BANKING
DIFFERENT CHANNELS OF BANKINGDIFFERENT CHANNELS OF BANKING
DIFFERENT CHANNELS OF BANKING
 
Electronic and mobile banking
Electronic and mobile bankingElectronic and mobile banking
Electronic and mobile banking
 
Alternative channels of banking
Alternative channels of bankingAlternative channels of banking
Alternative channels of banking
 
E-channels in banking
E-channels in bankingE-channels in banking
E-channels in banking
 
Internet Banking PPT
Internet Banking PPTInternet Banking PPT
Internet Banking PPT
 
Online banking ppt
Online banking pptOnline banking ppt
Online banking ppt
 
E banking
E bankingE banking
E banking
 

Similar to Internet banking

Internet banking PPT PRESENTATION
Internet banking PPT PRESENTATION   Internet banking PPT PRESENTATION
Internet banking PPT PRESENTATION
jaldumanohar manohar
 
E banking by sanjeev kumar chaswal [compatibility mode]
E banking by sanjeev kumar chaswal [compatibility mode]E banking by sanjeev kumar chaswal [compatibility mode]
E banking by sanjeev kumar chaswal [compatibility mode]
sanjeev kumar chaswal
 
43394328 e-banking
43394328 e-banking43394328 e-banking
43394328 e-banking
gurpreet3131
 
Banking and insurance chapters
Banking and insurance chaptersBanking and insurance chapters
Banking and insurance chapters
SidharthanSD
 
E-banking.pptx
E-banking.pptxE-banking.pptx
E-banking.pptx
YimerMeshesha2
 
ROLE OF E- BANKING IN CURRENT SCENARIO
ROLE OF E- BANKING IN CURRENT SCENARIOROLE OF E- BANKING IN CURRENT SCENARIO
ROLE OF E- BANKING IN CURRENT SCENARIO
International Journal of Technical Research & Application
 
Banking services offered by indian banks online
Banking services offered by indian banks onlineBanking services offered by indian banks online
Banking services offered by indian banks online
eSAT Journals
 
The internet banking journey in india
The internet banking journey in indiaThe internet banking journey in india
The internet banking journey in india
Mohit Negi
 
online banking
online bankingonline banking
online banking
Rajat Goyal
 
Banking theory law and practice ppt
Banking theory law and practice pptBanking theory law and practice ppt
Banking theory law and practice ppt
sakthidevi86
 
Popularity of internet banking
Popularity of internet bankingPopularity of internet banking
Popularity of internet banking
Boris Naorem
 
EBanking.pptx
EBanking.pptxEBanking.pptx
EBanking.pptx
ansal p
 
PPT18 Banking.pptx
PPT18 Banking.pptxPPT18 Banking.pptx
PPT18 Banking.pptx
ansal p
 
Nisha
NishaNisha
E banking in india
E banking in indiaE banking in india
E banking in india
harpreet030303
 
Online banking & finance in Bangladesh
Online banking & finance in BangladeshOnline banking & finance in Bangladesh
Online banking & finance in Bangladesh
Mohin Ibn Mohammad
 
Use of technologies in the banking sector of Bangladesh
Use of technologies in the banking sector of BangladeshUse of technologies in the banking sector of Bangladesh
Use of technologies in the banking sector of Bangladesh
Masum Hussain
 
Introductiontoebanking 1234532813570145-1
Introductiontoebanking 1234532813570145-1Introductiontoebanking 1234532813570145-1
Introductiontoebanking 1234532813570145-1
Rama Chandaran
 
Financial_Management.pptx
Financial_Management.pptxFinancial_Management.pptx
Financial_Management.pptx
JubairAhmed45
 
Fcb 2
Fcb 2Fcb 2

Similar to Internet banking (20)

Internet banking PPT PRESENTATION
Internet banking PPT PRESENTATION   Internet banking PPT PRESENTATION
Internet banking PPT PRESENTATION
 
E banking by sanjeev kumar chaswal [compatibility mode]
E banking by sanjeev kumar chaswal [compatibility mode]E banking by sanjeev kumar chaswal [compatibility mode]
E banking by sanjeev kumar chaswal [compatibility mode]
 
43394328 e-banking
43394328 e-banking43394328 e-banking
43394328 e-banking
 
Banking and insurance chapters
Banking and insurance chaptersBanking and insurance chapters
Banking and insurance chapters
 
E-banking.pptx
E-banking.pptxE-banking.pptx
E-banking.pptx
 
ROLE OF E- BANKING IN CURRENT SCENARIO
ROLE OF E- BANKING IN CURRENT SCENARIOROLE OF E- BANKING IN CURRENT SCENARIO
ROLE OF E- BANKING IN CURRENT SCENARIO
 
Banking services offered by indian banks online
Banking services offered by indian banks onlineBanking services offered by indian banks online
Banking services offered by indian banks online
 
The internet banking journey in india
The internet banking journey in indiaThe internet banking journey in india
The internet banking journey in india
 
online banking
online bankingonline banking
online banking
 
Banking theory law and practice ppt
Banking theory law and practice pptBanking theory law and practice ppt
Banking theory law and practice ppt
 
Popularity of internet banking
Popularity of internet bankingPopularity of internet banking
Popularity of internet banking
 
EBanking.pptx
EBanking.pptxEBanking.pptx
EBanking.pptx
 
PPT18 Banking.pptx
PPT18 Banking.pptxPPT18 Banking.pptx
PPT18 Banking.pptx
 
Nisha
NishaNisha
Nisha
 
E banking in india
E banking in indiaE banking in india
E banking in india
 
Online banking & finance in Bangladesh
Online banking & finance in BangladeshOnline banking & finance in Bangladesh
Online banking & finance in Bangladesh
 
Use of technologies in the banking sector of Bangladesh
Use of technologies in the banking sector of BangladeshUse of technologies in the banking sector of Bangladesh
Use of technologies in the banking sector of Bangladesh
 
Introductiontoebanking 1234532813570145-1
Introductiontoebanking 1234532813570145-1Introductiontoebanking 1234532813570145-1
Introductiontoebanking 1234532813570145-1
 
Financial_Management.pptx
Financial_Management.pptxFinancial_Management.pptx
Financial_Management.pptx
 
Fcb 2
Fcb 2Fcb 2
Fcb 2
 

More from Sunil Chichra

Theory of growth
Theory of growthTheory of growth
Theory of growth
Sunil Chichra
 
Women labour
Women labourWomen labour
Women labour
Sunil Chichra
 
Publicity
PublicityPublicity
Publicity
Sunil Chichra
 
Asian tigers
Asian tigersAsian tigers
Asian tigers
Sunil Chichra
 
Values and attitudes
Values and attitudesValues and attitudes
Values and attitudes
Sunil Chichra
 
Perception
PerceptionPerception
Perception
Sunil Chichra
 
market information system
market information systemmarket information system
market information system
Sunil Chichra
 
consumer behavior
consumer behaviorconsumer behavior
consumer behavior
Sunil Chichra
 
brand management
brand    managementbrand    management
brand management
Sunil Chichra
 
segemntation , targeting, positioning and product management
segemntation , targeting, positioning and product managementsegemntation , targeting, positioning and product management
segemntation , targeting, positioning and product management
Sunil Chichra
 
Marketing
Marketing Marketing
Marketing
Sunil Chichra
 
Students buying behaviour for electronic products
Students buying behaviour for electronic productsStudents buying behaviour for electronic products
Students buying behaviour for electronic products
Sunil Chichra
 
sales territories and quotas
sales territories and quotassales territories and quotas
sales territories and quotas
Sunil Chichra
 
planning , sales forecasting and budgeting
planning , sales forecasting and budgetingplanning , sales forecasting and budgeting
planning , sales forecasting and budgeting
Sunil Chichra
 
personal selling
personal sellingpersonal selling
personal selling
Sunil Chichra
 
sales and distribution
sales  and distributionsales  and distribution
sales and distribution
Sunil Chichra
 
Ge matrix
Ge matrixGe matrix
Ge matrix
Sunil Chichra
 
An comparative study on E-business models
An comparative study on E-business modelsAn comparative study on E-business models
An comparative study on E-business models
Sunil Chichra
 
Purchasing power parity
Purchasing power parityPurchasing power parity
Purchasing power parity
Sunil Chichra
 
volkswagen internship presentation
volkswagen internship presentationvolkswagen internship presentation
volkswagen internship presentation
Sunil Chichra
 

More from Sunil Chichra (20)

Theory of growth
Theory of growthTheory of growth
Theory of growth
 
Women labour
Women labourWomen labour
Women labour
 
Publicity
PublicityPublicity
Publicity
 
Asian tigers
Asian tigersAsian tigers
Asian tigers
 
Values and attitudes
Values and attitudesValues and attitudes
Values and attitudes
 
Perception
PerceptionPerception
Perception
 
market information system
market information systemmarket information system
market information system
 
consumer behavior
consumer behaviorconsumer behavior
consumer behavior
 
brand management
brand    managementbrand    management
brand management
 
segemntation , targeting, positioning and product management
segemntation , targeting, positioning and product managementsegemntation , targeting, positioning and product management
segemntation , targeting, positioning and product management
 
Marketing
Marketing Marketing
Marketing
 
Students buying behaviour for electronic products
Students buying behaviour for electronic productsStudents buying behaviour for electronic products
Students buying behaviour for electronic products
 
sales territories and quotas
sales territories and quotassales territories and quotas
sales territories and quotas
 
planning , sales forecasting and budgeting
planning , sales forecasting and budgetingplanning , sales forecasting and budgeting
planning , sales forecasting and budgeting
 
personal selling
personal sellingpersonal selling
personal selling
 
sales and distribution
sales  and distributionsales  and distribution
sales and distribution
 
Ge matrix
Ge matrixGe matrix
Ge matrix
 
An comparative study on E-business models
An comparative study on E-business modelsAn comparative study on E-business models
An comparative study on E-business models
 
Purchasing power parity
Purchasing power parityPurchasing power parity
Purchasing power parity
 
volkswagen internship presentation
volkswagen internship presentationvolkswagen internship presentation
volkswagen internship presentation
 

Recently uploaded

Money20/20 and EU Networking Event of 20/24!
Money20/20 and EU Networking Event of 20/24!Money20/20 and EU Networking Event of 20/24!
Money20/20 and EU Networking Event of 20/24!
FinTech Belgium
 
The Impact of GST Payments on Loan Approvals
The Impact of GST Payments on Loan ApprovalsThe Impact of GST Payments on Loan Approvals
The Impact of GST Payments on Loan Approvals
Vighnesh Shashtri
 
falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...
falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...
falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...
Falcon Invoice Discounting
 
在线办理(TAMU毕业证书)美国德州农工大学毕业证PDF成绩单一模一样
在线办理(TAMU毕业证书)美国德州农工大学毕业证PDF成绩单一模一样在线办理(TAMU毕业证书)美国德州农工大学毕业证PDF成绩单一模一样
在线办理(TAMU毕业证书)美国德州农工大学毕业证PDF成绩单一模一样
5spllj1l
 
What's a worker’s market? Job quality and labour market tightness
What's a worker’s market? Job quality and labour market tightnessWhat's a worker’s market? Job quality and labour market tightness
What's a worker’s market? Job quality and labour market tightness
Labour Market Information Council | Conseil de l’information sur le marché du travail
 
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...
mayaclinic18
 
Using Online job postings and survey data to understand labour market trends
Using Online job postings and survey data to understand labour market trendsUsing Online job postings and survey data to understand labour market trends
Using Online job postings and survey data to understand labour market trends
Labour Market Information Council | Conseil de l’information sur le marché du travail
 
2. Elemental Economics - Mineral demand.pdf
2. Elemental Economics - Mineral demand.pdf2. Elemental Economics - Mineral demand.pdf
2. Elemental Economics - Mineral demand.pdf
Neal Brewster
 
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
nimaruinazawa258
 
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...
sameer shah
 
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
AntoniaOwensDetwiler
 
An Overview of the Prosocial dHEDGE Vault works
An Overview of the Prosocial dHEDGE Vault worksAn Overview of the Prosocial dHEDGE Vault works
An Overview of the Prosocial dHEDGE Vault works
Colin R. Turner
 
How Does CRISIL Evaluate Lenders in India for Credit Ratings
How Does CRISIL Evaluate Lenders in India for Credit RatingsHow Does CRISIL Evaluate Lenders in India for Credit Ratings
How Does CRISIL Evaluate Lenders in India for Credit Ratings
Shaheen Kumar
 
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
taqyea
 
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdf
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfOptimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdf
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdf
shruti1menon2
 
快速办理(SMU毕业证书)南卫理公会大学毕业证毕业完成信一模一样
快速办理(SMU毕业证书)南卫理公会大学毕业证毕业完成信一模一样快速办理(SMU毕业证书)南卫理公会大学毕业证毕业完成信一模一样
快速办理(SMU毕业证书)南卫理公会大学毕业证毕业完成信一模一样
5spllj1l
 
在线办理(GU毕业证书)美国贡萨加大学毕业证学历证书一模一样
在线办理(GU毕业证书)美国贡萨加大学毕业证学历证书一模一样在线办理(GU毕业证书)美国贡萨加大学毕业证学历证书一模一样
在线办理(GU毕业证书)美国贡萨加大学毕业证学历证书一模一样
5spllj1l
 
Detailed power point presentation on compound interest and how it is calculated
Detailed power point presentation on compound interest  and how it is calculatedDetailed power point presentation on compound interest  and how it is calculated
Detailed power point presentation on compound interest and how it is calculated
KishanChaudhary23
 
Discover the Future of Dogecoin with Our Comprehensive Guidance
Discover the Future of Dogecoin with Our Comprehensive GuidanceDiscover the Future of Dogecoin with Our Comprehensive Guidance
Discover the Future of Dogecoin with Our Comprehensive Guidance
36 Crypto
 
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
bresciafarid233
 

Recently uploaded (20)

Money20/20 and EU Networking Event of 20/24!
Money20/20 and EU Networking Event of 20/24!Money20/20 and EU Networking Event of 20/24!
Money20/20 and EU Networking Event of 20/24!
 
The Impact of GST Payments on Loan Approvals
The Impact of GST Payments on Loan ApprovalsThe Impact of GST Payments on Loan Approvals
The Impact of GST Payments on Loan Approvals
 
falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...
falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...
falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...
 
在线办理(TAMU毕业证书)美国德州农工大学毕业证PDF成绩单一模一样
在线办理(TAMU毕业证书)美国德州农工大学毕业证PDF成绩单一模一样在线办理(TAMU毕业证书)美国德州农工大学毕业证PDF成绩单一模一样
在线办理(TAMU毕业证书)美国德州农工大学毕业证PDF成绩单一模一样
 
What's a worker’s market? Job quality and labour market tightness
What's a worker’s market? Job quality and labour market tightnessWhat's a worker’s market? Job quality and labour market tightness
What's a worker’s market? Job quality and labour market tightness
 
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...
 
Using Online job postings and survey data to understand labour market trends
Using Online job postings and survey data to understand labour market trendsUsing Online job postings and survey data to understand labour market trends
Using Online job postings and survey data to understand labour market trends
 
2. Elemental Economics - Mineral demand.pdf
2. Elemental Economics - Mineral demand.pdf2. Elemental Economics - Mineral demand.pdf
2. Elemental Economics - Mineral demand.pdf
 
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
 
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...
 
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
 
An Overview of the Prosocial dHEDGE Vault works
An Overview of the Prosocial dHEDGE Vault worksAn Overview of the Prosocial dHEDGE Vault works
An Overview of the Prosocial dHEDGE Vault works
 
How Does CRISIL Evaluate Lenders in India for Credit Ratings
How Does CRISIL Evaluate Lenders in India for Credit RatingsHow Does CRISIL Evaluate Lenders in India for Credit Ratings
How Does CRISIL Evaluate Lenders in India for Credit Ratings
 
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
 
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdf
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfOptimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdf
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdf
 
快速办理(SMU毕业证书)南卫理公会大学毕业证毕业完成信一模一样
快速办理(SMU毕业证书)南卫理公会大学毕业证毕业完成信一模一样快速办理(SMU毕业证书)南卫理公会大学毕业证毕业完成信一模一样
快速办理(SMU毕业证书)南卫理公会大学毕业证毕业完成信一模一样
 
在线办理(GU毕业证书)美国贡萨加大学毕业证学历证书一模一样
在线办理(GU毕业证书)美国贡萨加大学毕业证学历证书一模一样在线办理(GU毕业证书)美国贡萨加大学毕业证学历证书一模一样
在线办理(GU毕业证书)美国贡萨加大学毕业证学历证书一模一样
 
Detailed power point presentation on compound interest and how it is calculated
Detailed power point presentation on compound interest  and how it is calculatedDetailed power point presentation on compound interest  and how it is calculated
Detailed power point presentation on compound interest and how it is calculated
 
Discover the Future of Dogecoin with Our Comprehensive Guidance
Discover the Future of Dogecoin with Our Comprehensive GuidanceDiscover the Future of Dogecoin with Our Comprehensive Guidance
Discover the Future of Dogecoin with Our Comprehensive Guidance
 
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
 

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.