Internet Banking

3249 Words Nov 29th, 2010 13 Pages
Internet Banking
(with examples from Developed vs Developing Countries)

Presented to: Bert Lind Presented by: Group No.1 • S101417 Shahid Javed • S104503 Mumtaz Ali • S104451 Asif Iqbal • S101291 Mm Mudassar • S101659 Muhammad Shahzad
Abstract
We have discussed internet banking and security issues. Then we have given comparison of internet banking in developed countries and developing countries on the basis of security and infrastructure issues. Examples of banks are given from Pakistan (HSBC) and Sweden (Nordea). And services of both banks are compared on the basis of infrastructure and security issues.

Introduction
Internet banking enables users to make financial transactions on a secure website operated by their bank. Banking some
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First page of web must be designed in a way that it conveys important messages as well as it opens in less time.

Bank increasingly switch to website system or e-banking side to catch the customers not only to inquire about the account balance, interest and exchange rates but also to made several online transaction activities. This up gradation of every bank systems come up in a race of to be ahead from other bank by which the bank look for new challenges in bank management, rules and supervision authorities to check the e-banking service is working smoothly and properly and customer can’t be affect by this new rules and catch more and more customers to promote the Bank.

Security issues
Security is main issue of internet banking because a lot of money is involved during transactions. A costumer will not satisfied untill he has clear views about security of his money. At the beginning of ebanking only informational stuff was available on websites. And there are not so much security issues. But with advancement now almost all type of transactions are done via web. So, there are many threats available to ebanking. Protection through single password authentication is not secure in Internet shopping sites. Basically there exist two different security methods for online banking.


The PIN and TAN system where the PIN is a password, used for the login and TANs are one-time passwords to authenticate transactions. TANs can be