WHAT IS DIGITAL BANKING? INCORPORATION FEATURES CHANNELS ADVANTAGES DISADVANTAGES

1. DIGITAL BANKING

2. content
 Introduction
 Incorporation
 Features
 Channels
 Advantages
 disadvantages

3. Introduction
Digital banking, also known as internet
banking, e-banking or virtual banking, is
an electronic payment system that enables
customers of a bank or other financial
institution to conduct a range of financial
transactions through the financial institution's
website.

4. Incorporation
It was first incorporated in United States.
Regulations
Online banking has been federally governed by
the Electronic Funds Transfer Act of 1978.

5. Features
A bank customer can perform non-
transactional tasks through online banking,
including –Viewing account balances
 Recent transactions
 Downloading bank statements
 Viewing images of paid cheques
 Ordering cheque books

6.  Download periodic account statements
 Downloading applications for M-banking, E-
banking etc.
Bank customers can transact banking tasks through
online banking, including –
 Funds transfers between the customer's linked
accounts

7.  Paying third parties, including bill payments and
third party fund transfers
 Investment purchase or sale
 Loan applications and transactions, such as
repayments of enrollments
 Credit card applications
 Register utility billers and make bill payments

8. Channels of Digital Banking
 ATM
 CHEQUE DEPOSIT MACHINE
 CASH DEPOSIT MACHINE
 INFORMATION CENTRE
 E-LOUNGE
 NET BANKING

9.  MOBILE BANKING
 POS (POINT OF SALE)
 DEBIT CARD/PREPAID CARD
 E-COMMERCE

10. Advantages
• 24*7 access to your account
• Transaction made easy
• Settlement of transaction in no time
• Complete access to your own account
• Eco-friendly
• Saving time

11. Disadvantages
 Personal relationship with the Bank is not established
 Issues with transactions
 Security issues
 Site Disruption
 Site Navigation
 Cross Selling

13. Bibiolography
 https://en.wikipedia.org/wiki/Online_banking
 http://businesswolf.org/rise-digital-banking-
benefits-drawbacks/
 http://smallbusiness.chron.com/online-banking-
disadvantages-2248.html