3. Banking is one of the oldest
professions known to mankind. It has undergone
many a transition and internet banking is the
latest in the list of such transformations.
Internet banking
brought a 360 degree change in the entire banking
industry.
made shopping and bill payment easy
4. Such is the change in scenario that timing is no
longer a constraint and you can finish your day-today
chores and bank leisurely when you have the time.
5. Jeevan (2000) observed that the internet banking
enables banks to offer low cost and high value added
financial services.
Hasan (2002) found that online home banking has
came out as a significant strategy for banks to attract
and retain customers
6. Mishra (2005) in his paper explained the
advantages and the security concerns about internet
banking.
Nyangosi et al. (2009) collected customers'
opinions regarding the importance of e-Banking and
the adoption levels of different e-Banking technologies
in India and Kenya.
7. significance of e-banking in the present scenario
benefits of E-Banking
popular services covered under e-banking
risks involved in internet banking
8. Internet Banking - A Vehicle:-
Internet banking acts
as a vehicle that delivers your banking needs to right
where you are
9. information about account and transactions
facility to give requests and applications to a bank
flexibility of fund transfer 24X7
10. E-banking helps us in overcoming the drawbacks
of manual system
To the Banks
1. increasing profits
2. boundary less network to the banks
3. cost of storage of currency notes and coins is
eliminated.
4. risk of cash overdraw can be eliminated in case of
ATM credit and debit cards.
11. BANKERS’ PERSPECTIVES…
1. Generates revenue through its promotional activities.
2. invest more on building infrastructures is saved
3. Websites that offer financial convergence for the
customer will create a more involved banking
customer who will more frequently utilize the banking
websites.
12. To the Customers
1. 24 hours service
2. Quick and steady access to information.
3. Online purchase of goods , services and payments.
4. The customer can view his account balance and collect
information regarding investments, interest rates etc.
13. To the Merchants, Traders, etc.
1. assures quick payment and settlement
2. variety of services to the businessmen
3. Cost and risk problems involved in handling cashier
avoided.
4. It leads to the growth of global and local clientele
5. improved image, improved customer service,
eliminating paper work, reduced waiting costs and
enhanced flexibility.
14. Functions of internet banking:-
1. data related to their accounts can be accessed from
any point where internet facility is available.
2. transfer of money from a customer’s account to
another person’s account in a different or same bank,
payment of utility bills
15. Security and operation:-
o There are set of regulations laid down by Reserve
Bank of India, that guide banks on the security
aspects of internet banking.
o The banks are bound to maintain certain security
policies related to internet banking that are approved
by the managing directors of the bank.
16. Security and operation:-
Transfer of fund is done through two basic modes.
1.Real Time Gross Settlement
transaction to an account takes place more
spontaneously
this mode of transaction can be used for transactions
above Rs 2 lakh
17. Security and operation:-
2. National Electronic Funds Transfer
transaction takes place in batches in specified regular
intervals of time.
18. Automated teller machines
Credit Cards
Debit Cards
Smart Cards
Electronic Funds Transfer (EFT) System
19. Cheques Transaction Payment System
Mobile Banking
Internet Banking
Telephone Banking etc.
21. The net banking should be availed from personal
computer only
The address of the site of the bank should be typed ,
links should be avoided
It is good to provide relevant details of the user ID
and password only in relevant pages of banking site.
22. From the end-user's perspective, the service quality
will improve.
"Core banking facilitates anytime, anywhere banking.
Customers can check their account balance, pay bills
and make investments throughout the day."
In short, they will have complete control over their
finances and hence, the power to take decisions.
23. 1. Abukhzam M and Lee A (2010), “Factors Affecting
Bank Staff Attitude Towards E-Banking Adoption in
Libya”, EJISDC, Vol. 42, No. 2, pp.1-15.
2. Barnett C. (1998), “Virtual Communities and
Financial Service: On-Line Business Potentials and
Strategies Choice”, International Journal of Bank
Marketing, Vol.16, No. 4, pp.161-169.
3. Chen T (1999), “Critical Success Factors for Various
Strategies in the Banking Industry”, International
Journal of Bank Marketing, Vol. 1, pp. 83-91.
24. 4. Filotto et al. (1997), “Customer Needs and Front-
Office Technology Adoption”, The International
Journal of Bank Marketing, Vo.15, No.1, pp.13-21.
5. Hasan I (2002), “Do Internet Activities Add Value?
The Italian Bank Experience”, Working Paper,
Federal Reserve Bank of Atlanta, New York
University
6. Jeevan M.T. (2000), “Only Banks-
No Bricks, Voice and Data”
25. 7. Joseph et al. (1999), “Service quality in the banking
sector: the impact of technology on service delivery”,
International Journal of Bank Marketing, Vol. 17,
No.4, pp. 182-191.
8. Jun M, Cai S (2001), “The key determinants of
Internet banking service quality: a content analysis”,
International Journal of Bank Marketing, Vol. 19,
No.7, pp.276-91.
9. Kaleem A and Ahmad S (2008), “Bankers’
Perceptions of Electronic Banking in Pakistan”,
Journal of Internet Banking and Commerce, Vol. 13,
No.1.