Online Banking Essays

Subsequently, Internet banking is the remarkable step get by banking system to make it smoother in case of banking activities. In Sri Lanka, majority of the banks provide internet banking facilities to make

The use of technology to keep up to date on the activity of bank accounts is an important step that I use myself. I use a phone application to keep updated on all activity that affects my

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.

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.

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 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

ONLINE BANKING Online banking also referred to as internet banking, uses the internet as the delivery channel by which one uses to conduct banking activities. Online banking will allow an individual to manage his accounts by doing the following activities; make payments, view accounts and inquire about the balances, apply for credit cards and loans electronically. In order to access accounts online, one should have browser software installed in their computers. This software will run the online banking programs stored on the banks world wide web server. Therefore, as per my understanding, I would define an online bank as one that provides transaction services to clients over the World Wide Web. Due to the minimal expenses online banks have,

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

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.

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.

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.

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.

Internet Banking is one of the cutting-edge internet technology applications, which promises multiple benefits both for the financial institution and for customers. In last few years a large number of banks have launched websites, offering online Banking services. While the functioning of these digital systems seem to be relatively smooth in the United States and some other technology oriented countries, but the situation may be different in European countries.

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.

Internet banking is still at infancy stage in the world. Many studies focused on usage of internet banking but many factors on non-usage were overlooked. This research was carried out to validate the conceptual model of internet banking. The causes were identified and researched through correcting the causative factors so that internet banking can be used by more people. This will help the banking operations to be more cost effective.