Internet Banking

The white paper is intended to provide an overview of the teller system used in daily banking operations. It attempts to detail the different

Simply, the banks perform financial intermediation with the deposits of the customers/ business and then lending out that money to earn profits. The banking system concern, it plays a vital role in any country economy by encouraging investment activities as well as money savings. Moreover, online baking, providing debit and credit cards, ATM facilities, providing safe custody of valuable items and lockers are some of the facilities provided by banks to make their relationship with the customers more effective and efficient.

In the old days, people go to bank branches in order to either make a deposit or a withdrawn to their accounts.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

Since the 1980’s, online banking has made the lives of everyday people more convenient. With the new innovations and creations to computers, online banking has grown to become the most used form of banking in the US (5). From the first ATM to mobile banking technology has helped shape One of the first computerized innovations to online banking, the credit card, revolutionized how cash was money was used in society.

Throughout the past 20 years, the focus on the World Wide Web has been a compelling area of social, political, and economical innovation. At one time, the internet was a tool that promoted collaboration in the realm of research as it was used as a means of sharing scholarly documents between universities. However, since that time, the internet has evolved into being a way of life. “Many people use the terms Internet and World Wide Web, or just the Web, interchangeably, but the two terms are not synonymous. The World Wide Web is the primary application that billions of people use on the Internet, and it has changed their lives immeasurably (author unknown, https://en.wikipedia.org/wiki/Internet).” Before there can be an at length discussion

With the advance technology, banking has become a 24 hours a day and seven days a week ability. Not too long ago banks were only open from 9:00am to 3:00pm, workers and businesses rushing to get to the bank before they close. Paychecks were handed out personally not direct deposit, cashing or depositing a paycheck entailed a trip to the bank. Now most companies have direct deposit and the printed paycheck is becoming a thing of the past, this is only one example of how technology in banking has changed in society. The electronic banking (e-banking) can be described as the automated method of new and traditional banking services which reduce cost, and simplify front and backend process satisfying customers.

The web is basically a system of PCs over the world which is connected through worldwide media communications. In spite of the fact that it was initially just utilized by guard faculty in the United States, simple access to PCs and related innovation have made utilizing the web a typical movement in later circumstances. The World Wide Web (www) is an accumulation of interconnected archives which are available utilizing the web. It empowers individuals from anyplace on the planet to get to data on any point from shopping to climate figures; and from

The web has change our lives in many ways we didn’t think were possible we now have access to any type of information we can imagine. The web allows us to keep in touch with friends and relatives hundreds of miles away and actually see them speaking to you, using webcams. It’s the closest thing we can have to actually speaking to them in person and the technology will soon evolve into hologram projectors. Communication and trading knowledge is one the most important aspects in the development of the human race, we need each other so we learn from one another and sometimes we just need a person to keep us company. The web makes our lives easier, its there to serve us as much as it can and the possibilities for what it can do for us are endless. Tim Berners-Lee invented the World Wide Web in 1989 and created the first web browser one year later, The original web, Web 1.0 was only a one-way form of communication (read only web), the web would give information to the viewer but he could not respond back or leave his point of view. The things you could do with the web at this point were very minimal comparing to todays standards, none the less it was still a huge breakthrough in technology and application such as email and search engines open the door to whole new world of communication and information.

Bigger. Faster. And Easier. All of these words showcase the obsession consuming the minds of both entrepreneurs and consumers over the past ten years. Not only have businesses and products been affected by this obsessive mindset, but also the financial industry. Online banking, banking apps, and the increasing popularity of credit cards have all shown how convenience and easy accessibility have been a crucial priority in defining the financial industry. However, these qualities have had benefits as well as drawbacks that can either assist or harm the future financial industry and, in turn, Dupont Community Credit Union.

Tim Bernes-Lee in 1989 created the World Wide Web, and in 1994 he and a few others established the World Wide Consortium. (a) The World Wide Consortium’s mission is “to lead the world wide web to its full potential by developing protocols and guidelines that ensure long-term growth for the web (a).” This is an international organization with a variety of members making up the organization. They all have a common goal which is to make the web standardized with rules and principles, and to date they have made over eighty recommendations.(a)

Furthermore, smartphone-bankingindustry ismature toagreatextentthanearlierperiod.Ithasdevelopedsuperbimageintheirvarious activitiesincludingelectronicbanking.Nowmodernbankingserviceshavelaunched bysomemultinationalsandnewlocalprivatecommercialbanks.Novelty & curiosity regarding the use of mobile banking services was mentioned in the survey as one trigger for adoption. The present results reflect the fact that mobile banking services are at a relatively early stage in the path of diffusion. It is often the case that the first adopters of an innovation are motivated simply by the desire to get their hands on the latest & greatest innovation; the stimulus is curiosity regarding anything that is truly brand new. Mobile banking has not yet gone beyond this phase, indicating clearly that mobile banking services are not yet fully institutionalized; they have not entirely become part of the ongoing practice & way of life of the adopters. Adoptingm-bankingservices,banksin developingcountriesarefacedwithstrategicoptionsbetweenthechoiceof delivery channels andthelevelof sophistication of services providedbythesedelivery channels (Ahmed and Islam, 2008). Banks will reap the benefits of IT truly and totally, if and

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

Information Technology directly affects the way banks operate, mangers decide and plan and products are being offered in banking industry. IT continues to change the variety of innovative devices available to enhance the speed and quality of services delivery. In this competitive environment, banks should be able to modify their traditional practice and be readily acceptable to the new technology in order to remain viable in business.

The present paper is concerned with the various ways of doing banking electronically. This paper has been divided into four sections dealing with four aspects of E-banking i.e. ATM, Internet banking , Mobile banking and Credit cards. Paper is basically concerned with the customer aspect of banking searching for customer satisfaction level. This is a comparative study of Public sector bankis, Private

The country is flooded with foreign banks and their ATM stations. Efforts are being put to give a satisfactory service to customers. Phone banking and net banking is introduced. The entire system became more convenient and swift. Time is given more importance than money.