Challenges Faced By Large And Small Enterprises

Internet banking renders location and time irrelevant, and empowers customers with greater control of their accounts. Banks achieve cost and efficiency gains in a large number of operational areas. This paper addresses the aspects of reliability and accessibility from a banking enterprise point of view and puts forth present day solutions to problems involving these issues. An Indian perspective of Internet banking is also looked at in order to gaining a better perspective regarding the situation.

In the old days, people go to bank branches in order to either make a deposit or a withdrawn to their accounts. From 14th century in Venice, Italy to 1970s in New York, United States, banking seems to the same as it never changes. There is no other options if you don’t want to have your own house full of cash open for thieves and robbers. But with digital currency and online banking system, those days have long gone for younger generations only with pictures shown on the history books. Starting from 1990s, growing with the boom of IT technology in Silicon Valley, digital banking has given itself a key role of shaking up the entire banking industry as

It is important to realize how the security aspects in a banking system can influence such

The bank industry is a pioneer in handling security and confidential information of customers. By protecting their customers they protect themselves as well. Bank of America, Wachovia and Wells Fargo banks are very careful with the information and security management protecting it is their main goal and commitment as they all express it in their websites and in the face to face banks. The banks try to provide the best service in every aspect and they assure customers their responsibility toward the protection of the customer accounts going beyond their face to face business, it is maintained over the phone and online as well.

As we talk about security breaches, let’s look into what protects businesses from getting hacked. Network security is to help protected information, to create the possibilities that various information is not being breached or hacked by other users. The network security is to be concerned about employee information, visitors and customer information, as well as vouchers and data. The consequences of security being breached can be significant in

The reality is that true security programs are difficult to achieve. It is usually necessary to choose a schema that has a certain amount of “cost” and an understood amount of security coverage. (This is almost always less than “comprehensive and end to end”.) The point here is to make educated decisions for each aspect of an overall system and to consciously employ more or less in a calculated fashion. If one knows the areas that are less protected, one can at least monitor such areas to determine problems or breaches.

Cybersecurity is one of the most important topics in business today; It is something that must be accounted for by all businesses, large or small, due to its ability to disrupt or even paralyze all business functions. With the increasing reliance of computer systems into enterprises today, it is no wonder why the most dangerous threats are in cyberspace. The dangers of these threats are scary to small and medium-sized business owners, and they are left wondering how to protect themselves. Preventative measures are the major thing a business can do to shield their services or products. The ‘bad actor’ hindrance of unauthorized entry into an infrastructure is a normal trouble in cybersecurity; The businesses of today are not immune to cybercrime, however they may be able to make themselves a difficult target that almost all hackers would disregard. Cyber-criminals can infect computer techniques making use of multiple tools to infiltrate and acquire data illegally. A part of this discussion deals with the necessary funding for confronting developing treats. Cybersecurity should be a priority to all businesses, due to the crippling effects an attack can have on an enterprise.

Financial technologies play a significant role in modern banking system. Most of us are familiar with internet banking and mobile banking. These technologies allow us to access our accounts, transfer funds, pay for our purchases, and even apply for a loan without leaving a house or an office. In addition, most of us prefer to pay for our purchases with a quick swipe of a credit or a debit card. No doubt, it is more convenient than caring and counting cash every time we go to a store. But, unfortunately all these technologies come at a cost. Time to time, we hear news about another security breach in the banking system or retail business, when customers’ personal information is

Both large and small companies require a certain amount of protection from fraudulent acts. To be naive in thinking that fraud would never occur within a company would be reckless. There are three key objectives when operating a business, whether large or small. These objectives include prevention, detection, and response, and should be implemented into every company’s operations. When exploring preventative techniques, there are seven recommendations made by professionals to reduce the most often seen attacks of small business fraud and cybercrime.

Security is one of the major challenges that is being faced by the world today, as seen by continuous revelations about breaches and incidents. On this note of insecurity and unpredictability, banking industry is keen to redefine its approach to security thereby making an attempt to balance three critical factors i.e. cost, innovation and risk. On parallel grounds, the domain of internal security is undergoing drastic changes that mandates banking institutions to embrace new set of skills and practices. Fraud can be categorized as a business risk – it is like a sword of Damocles over a bank’s future. This must change for the good. The rapid pace with which the technology is changing, like the recent explosion of cellular customers, is

Abstract - A bank plays a vital role in peoples life.A bank connects customers with deficit assets to customers with surplus assets.Net banking refers to the system that enables bank customers to access accounts and general information on bank products and services through personal computer(PC) or other intelligent devices and it also performs virtual banking functions. Bank’s first aim is to achieve the trust of customers then customers report their personal details ,Security of the customers is the prime concern of the banks and it has its own measures to secure client details and transactions i.e; both online and offline.The major security measures are confidentiality integrity ,availability and accuracy. Apart from all the security

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Online banking and financial services have revolutionised the consumer and corporate banking industry in the last few decades or so by giving customers the power to conduct their banking anytime, anywhere and without all kinds of paperwork and branch visits. This has been possible with the help of massive investments in information technology, systems and communication infrastructure linking the banking industry network with their universe of customers. This empowerment has also given the financial services industry a platform to create financial products with which to woo the marketplace to grow market share, revenue and profits at rates not seen before. However, this win-win situation has come at a cost for the banks. Financial crime or fraud in the last few decades was largely restricted to cheque or loan fraud by individual fraudsters. The perpetrators seem to have kept pace with the evolution in banking services. The threat landscape today is such that every time the banking industry presents innovative financial products and a convenient way to do business with its customers, it also attracts a whole new category of fraud risk and new opportunities for the fraudsters. The financial fraud fraternity today is well equipped with Information Technology (IT) tools, both in terms of hardware and software, alongside trained staff, both internal and external to the banking industry. They work as a well oiled organisation and are decentralised sufficiently to cover

E- marketing is popular nowadays worldwide. Through the help of Internet companies interested in selling goods and services can easily penetrate into the homes and offices of prospective buyers. Companies can measure their marketing related statistics easily and relatively inexpensively. Certain drawbacks such as information security related issues are of prime concern. Online banking is on constant rise

Today banks operate in an extremely globalized, liberalized, privatized and a competitive environment. Indian banking industry has witnessed an incredible growths due to extensive changes that are taking place in the information technology. The development and the increasing progress that is being experienced in the Information and Communication Technology have brought lot of changes in almost all facets of life. In the Banking Industry, it has been in the form of online or e-banking, which is now replacing the traditional banking practice. The e-banking constitutes an electronic alternative network of payments and benefit of services. E-banking has the potential to transform the banking business as it significantly lowers transaction and delivery costs. Today e-banking has experienced phenomenal growth and has become one of the main avenues for banks to deliver their products and services. Online banking has a lot of benefits which add value to customers’ satisfaction in terms of better quality of service offerings and at the same time enable banks gain more competitive advantage over other competitors. There are some associated challenges identified in the study that seem to hinder the success of e-banking services and thus constitute major concern to both financial institutions and customers. This