Online Banking System

Understanding the usage of internet banking might be difficult for a beginner at the first go. Though there are some sites which offer a demo on how to access online accounts, but not all banks offer this facility. So, a person who is new, might face some difficulty.

Internet banking refers to an online facility which provides an alternative channel for delivering banking or financial services and enables individuals to access their accounts anytime and anywhere through a bank’s web site (Z. Liao, Z., and M. T. Cheung, 2012). In other words, online banking named as E-banking, internet banking or virtual banking. Generally, the operation of online banking is connect to the core banking system designed by bank and then contrast to branch banking which refer to traditional way of bank customers accessed to banking services. Nowadays, internet banking is one of the most important businesses in electronic business around the world (Ariff et al, 2012). Most of the conventional banks have to operate and provide the online banking service to their customers as needs by

The popularity of Internet has become ubiquitous and pervasive all over the world. The Internet plays a pivotal role in all walks of human life and has improved the quality of people life and has invaded all sectors like Governmental Organizations, Science and Technology, Business World, Industry and Education. In 1969, the Internet was originated by US Department of Defense (DoD) and Advanced Research Project (ARPANET) using Network Control Program (NCP). Research on packet switching communication methodology resulted in inter-networking of networks in 1981, when the researchers in Great Britain and Norway tried to collaborate with the researchers in US using Internet Protocol (IP). Realizing the importance and advantages of IP, the Internet

As James’s position in the company, he should have the abilities to prepare the financial report and judge for the impact of a contract. However, his report about influence of the contract is inadequate, which may cause the significant financial impact of the company. Instead of doing more research, he made more efforts on making the report looks prefect and make other directors be fond of it. Also, although the financial statement finished

The two authors follow the story from the conception of the idea of "packet switching" in the early 1960s to the creation and development of the Internet. We see how one idea led to another and how the intelligent people around the circumstances influenced the developments.

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

(Federal Financial Institutions Examination Council,2003). The usual E-banking services provided by banks are account management; bill payment and presentment; new account opening; consumer wire transfers; investment/brokerage services; loan application and approval; account aggregation; cash management ; small business loan applications, approvals, or advances; commercial wire transfers; business-to-business payments; employee benefits/pension administration etc. Online banking or E-banking has spread around the world and has become common these days. In general, banking services have changed over the past three decades to meet the consumers’ needs (McKinsey & Company, 2012); at that time, when the consumer needed money for purchases or to make a transaction, he needed to go to the bank by himself during the bank hours and perhaps waited in a long line to meet a human teller to implement his transaction. Nowadays, due to the E-channels that surfaced with the development of technology and the Internet, the processes of banking have changed. The consumer can make a transaction from one account to another while sitting in his couch anytime and anywhere.

Banks that offer financial products and services through the Internet must be able to meet their customers’ expectations. Banks must also ensure they have the right product mix and capacity to deliver accurate, timely, and reliable services to develop a high level of confidence in the customers. Customers who do business over the Internet are likely to have little tolerance for errors or omissions from financial institutions that do not have sophisticated internal controls to manage their Internet banking business. Likewise, customers will expect continuous availability of the product and Web pages that are easy to navigate.

Many consumers today are turning to the ease and convenience of Internet banking to take care of their financial needs. With the new levels of access made possible by the Internet, people can now check the status of their finances with the click of a button.

However, due to the lack of information in the case study, the limitation of the report and its recommendations might be appeared.

They saw a great potential value of Internet in scientific and military field, and sharing the informations. J.C.R. Licklider of MIT was one of the visionary people. He’s the first one who proposed the global network. Then the Defense Advanced Research Projects Agency (DARPA) took over the program of developing global network at late 1962 with MIT and University of California at Los Angeles. At 1965, they connected a Massachusetts’ computer with a California computer which was a big progress. Robert moved to DARPA and started his plan for ARPANET which was the real start of the Internet’s life. At 1969, during the Cold War, the program’s purpose changed to "to aid researchers in the process of sharing information, and not coincidentally to study how communications could be maintained in the event of nuclear attack". Fortunately, with the developed of Internet technique. It’s usage became wider. Like later the emergence of ARPANET include many usages such as file transfer, sent e-mail, and even online discuss. In 1973, APRA continued a program named “Internetting Project” for "to develop communication protocols which would allow networked computers to communicate transparently across multiple, linked packet networks". The development of Internet had never stopped. By 1980s, private could use Internet which we called “TCP/IP”, and it was funded by National

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.

Perhaps one of the greatest inventions of out time is the Internet. Without a doubt, the net has had a profound effect on almost every aspect of our lives. The formation of the Internet has changed the way we do business, communicate, entertain, retrieve information, and even educate ourselves. Nevertheless, the Internet might have never materialized if it had not been for some innovated thinkers from the Advanced Research Project Agency, who created "ARPANET." In collaboration with several educational and research institutions, the agency created the packet-switching technologies that form the basis of the Internet today.

Internet: Global network of networks using universal standards to connect millions of different networks (Kenneth C Laudon and Jane P Laudon., 2010).

ARPANET, a network established by the Defense Advanced Research Projects Agency in 1969 brought into existence the use of e-mail, telnet and ftp. By 1980, a sub-net of ARPANET made MELVYL, the University of Californiaís on-line public access catalog, available on a national level. ARPANET, would become the prototype for other networks such as CSNET, BITNET, and EDUCOM. These networks have almost disappeared with the evolution of ARPANET to NSFNET which has become the present day Internet.