Online Banking Essays

Online bank: Since this process is done by the internet, then various of threats can be caused.

The article starts by giving the example of Wells Fargo recent problems of protecting client information. In the case of Wells Fargo, employees where using private client information to open credit card and savings accounts without their clients knowing about the accounts. The article explains things that an individual can do to help prevent this type of activity in the future. “Use technology to your advantage” (White). How checking of your credit report and recognizing what abnormal activity on your bank accounts help protect your personal information.

Many people don’t know what's the best bank for them in the future, so I am writing this to show what bank will be best for me in the future. I am going to talk about 4 banks that would be good for me. The 4 banks are 4Front credit union, Charlevoix State bank, Huntington, and 5/3rd bank. 4Front credit union will be open Monday through Friday 9:00A.M.-5:00. They are open on Saturday from 9:00A.M. to 1:00P.M. Some of the locations for 4Front are East Jordan, Boyne City, Petoskey, and Charlevoix. The next bank's hours that I’m talking about is Charlevoix State bank. The Charlevoix State bank will be open Monday through Thursday 9:00A.M, to 4:00P.M. Friday they are open at 9:00A.M. to 6:00P.M. Saturday they open at 9:00A.M. and close at noon.

The use, acceptance, adoption and application of internet technology to businesses to boast their performances are not something new. Saffu et al., (2008), states that there has been a significant increase in the use and application of e-commerce in businesses in the past decade. E-commerce has benefits such as reduction in costs, increased business opportunities, reduced lead time and providing more personalized service to the customers (Turban et al., 2008). Internet banking or e-banking is one of the many tools of e-commerce adopted by the banking industry. Tools of information technology such as internet banking have significantly improved the quality of services offered by the banking

Banking online is a recently developed convenience. How often do you forget to pay your bills? With online banking your bills are paid on time. You also have immediate access to your bank statements updated by the minute.

The math teacher was babbling on about how this specific formula worked and halfway through her example I noticed that she had made a mistake. I hesitated a hundred times before raising my hand. It felt almost wrong because usually no one spoke up unless they had to go to the bathroom or get a drink which we all know that was just an excuse so we didn’t have to hear the teacher talk about something we weren’t interested in at that moment. According to Freire, we were taught within the banking system of education to accept our ignorance as justifying the teacher’s existence (319). In other words, students were “trained” in a way to keep

The remaining questions were developed keeping in mind the qualitative aspects of the research. Questions 4 & 11, address exploration of types and categories of online fraud risks including where it is committed. The majority of the remaining questions 5, 6, 7, 8 as well as 11 were developed to elicit information on processes and practices used by banks to detect, prevent and respond to acts of fraud in online banking transactions resulting in unauthorised payments. The identification of whether Anti-Money Laundering processes are separate from general fraud risk management processes is covered in question 9. Question 10 addresses how the correlation of advancement in fraud risk management technology has impacted the increase or reduction in referral rates for unauthorised payments. The banks’ operate in a very competitive environment and whereas safety and security in online banking is a major area of concern to the customers they also want convenience and speed from their banks in conducting these transactions. Question 12 & 13 were developed to address the overall satisfaction of the customer in this area.

Note three types of sensitive information involved with each situation. Then, note three ways each information item could be misused or harmed. For each of these, note at least one likely finding that you would include in a risk analysis report of the organization. Finally, answer the questions at the end of the table.

Moreover, bank would able to enhance the usage of internet banking by adding more services as customers required. Other actors concerns, among banks, their customers will be delighted by improving their services to their own customers. Then, actors like supermarket, shopping complex also able to gain from the internet bank usage of customers since it reduce the cost of transaction, unnecessary rush in the counters and it will help them to provide better service to the

In the mid-1990s came Internet banking which enabled consumers to access their financial accounts using a home computer with an Internet connection. Despite its promise of ultimate convenience, online banking saw slow and tentative growth as banks worked out technology issues and built consumer trust. Today, Internet banking has reached a critical mass, with about 35 percent of U.S. households conducting bank transactions online.

The security and privacy issue, where it is hard to ensure the privacy or security over the online payments.

I would believe that two measures I’ve mentioned are not the only ones used by the banks, but I would like to think that different banks have their own security measures that they use to keep the information protected from outsiders. All together any new technology has its advantages and disadvantages. I am therefore going to outline some things that I feel affect our use of the online banking system positively and negatively. Advantages • The availability to inquire and carry out transactions twenty-four hours seven days a week. Therefore one does not have to worry about reaching the bank at a specific time to get some information. • Connection to your online bank is available worldwide. It doesn’t matter where you are as long as you have internet connection you can access your bank account. • One is able to view all transactions carried out whether recent or old and be able to evaluate himself financially. • It saves time because you do not have to go and make long queues at the physical bank’s site to carry out your

Is online banking a good thing or a bad thing? Online banking is now a part of almost all the banks in the developed world, and even banks in developing countries, and in tax haven countries, are getting online. They are reacting to market demand, and since demand is so high, it is fair to say that online banking is currently a good thing and that it is probably here to stay unless there is a large security breach that shatters people’s confidence in online banking. Here are the pros and cons of online banking.

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.

Online banking is an important example of efforts that grow banking industry. In US, online banking was introduced widely when four of the city 's major banks (Citibank, Chase Manhattan, Chemical and Manufacturers Hanover) started to offer home banking services, using the videotex system. “When the clicks-and-bricks euphoria hit in the late 1990s, many banks began to view Web-based banking as a strategic imperative. The attraction of banks to online banking are fairly obvious: diminished transaction costs, easier integration of services, interactive marketing capabilities, and other benefits that boost customer lists and profit margins. Additionally, Web banking services allow institutions to bundle more services into single packages, thereby luring customers and minimizing overhead.”