Internet Banking

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ABSTRACT There have been major changes which are witnessed in the world and at the centre is the ever changing phase of technology, like advances in the way people communicate, do businesses, exchange of information. At the heart of all this lies the World Wide Web and the same has revolutionised the way people are communicating and transferring the data and information. The best part about being that there exists no single entity or person who owns the World Wide Web some organizations and other companies are handling the management of the system and the administration of the World Wide Web. There has been contrasting views with respect to electronic commerce, however it needs to be noted that Electronic commerce is a structured…show more content…
The banking industry also involves the practice of offering varied products which are necessary to ensure that they are able to maintain the advantage in a highly competitive field and the globalization has brought in different players who are vying for the same number of customers and this forces the banks and financial institutions to look for various avenues to meet the customer needs. However, it needs to be understood that the Automatic Teller Machines (ATMs) had the most penetration in the environment in comparison to other measures like phone banking, mobile banking, and internet banking. There has been an exodus of offers with which the banks have penetrated in the economy and this sea change has been made possible by the availability of technology. However, there is a still a percentage of customers who would believe in the concept of conventional banking in comparison to the modern banking methods which are confusing and at times intrusive for the conventional customer who would still rely on the bricks and mortar banking system which works on hard physical currency being transacted over the counter. (Yaha and Laura, 1990) There are many reasons for the deep distrust towards the advancement that has been witnessed in the technology front, like the old age people who are not adept at the system feel that it has nothing new to offer to them. However, the

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