The Internet And Other Electronic Media

The threats and opportunities in the e-banking line are increased due to the introduction of internet. The threat of e-banks and the point of equality concept are very highly used by the current competitors. There are rivals such as CIMB clicks, Hong Leong online banking and many more which cause Maybank2u.com unable to monopolize the market. As a consequence, the customers can exchange brands easily. Moreover, the customer of Maybank are likely to concern with the safety matter of online banking. They prefers to do transaction in the classic ways more than online banking due to their lacking of confidence toward security and safety matter of online banking. They are scared of hacker that might intercept their information. But other than that, the bank may significantly affected by the present macroeconomic situation across the global and adjustment in economic policies in South East Asian countries. This happened because Maybank’s goal is to widen Islamic business in markets such as Singapore and Indonesia as part of their target on the ASEAN

In the old days, people go to bank branches in order to either make a deposit or a withdrawn to their accounts. From 14th century in Venice, Italy to 1970s in New York, United States, banking seems to the same as it never changes. There is no other options if you don’t want to have your own house full of cash open for thieves and robbers. But with digital currency and online banking system, those days have long gone for younger generations only with pictures shown on the history books. Starting from 1990s, growing with the boom of IT technology in Silicon Valley, digital banking has given itself a key role of shaking up the entire banking industry as

Irene Siaw The Open University of Hong Kong, Hong Kong AlecYu Cisco Systems (HK) Ltd, Hong Kong The emergence of the Intemet has created both threats and opportunities for banking executives. Those who are able to leverage competitive benefits from the Intemet are confronted with significant business potential. The Internet has fundamentally changed traditional relationships and services within the banking industry. It shifts the overall competitive landscape, the technical and standards infrastructure, and the requirements of individuals and business

The concept of online banking as we know it today dates back to the early 1980s, when it was first envisioned and experimented with. However, it was only in 1995 (on October 6, to be exact) that Presidential Savings Bank first announced the facility for regular client

When individuals all over the world are facing money related complications, consumers are looking for those products and institutions that can simplify our lives. With the evolution of technology, it is important to create platforms that are customer friendly and easy to access. Online marketing has proved to be an excellent tool in trying to solve this menace. It, therefore, needs to be implemented by all sectors including the retail banking industry (Ryan, Jones 2009).

Technological Innovations and Future of Banking Industry – A study of technological drivers of change

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.”

In the phase of increasing competition and technology, companies has to implement changes and provide customers with evolving technology to keep up with their customers. In the last decade, banking

According to King, McKay, Marshall, Lee and Viehland (2008) online banking or electronic banking (e-banking) includes various banking activities conducted via the Internet from home, business, or on the road opposed to at a physical bank location. This paper shall compare and contrast both the online and offline retail environment for banking services.

The way we live today is so much influenced by computing technologies. Computers control the economy, transportation, banking and many other functions. Internet and mobile technologies are increasingly being adopted and utilized in the banking industry; this has reshaped the consumption of financial services. Electronic banking is considered a way of delivering banking services through the internet to the consumer at a reduced cost to the banking industry and improved convenience to the customer . However there exists a low internet connectivity in the developing countries given the costs of connection especially in rural areas and yet banking services need to be brought closer to the population to enhance development . A viable solution here is mobile banking. Mobile banking is considered as a service that enables users to receive information regarding the status of their accounts, transfer among bank accounts, to facilitate stock trading and direct payment confirmation using mobile devices.

The study found out that most of the respondents have banked with their respective banks for at least three years but only a proportionate few uses e-banking products. The most used e-banking product is the ATM card and SMS banking. Again respondents were more satisfied with ATM card than their internet banking. The study also revealed that most respondents were dissatisfied with the effectiveness of e-banking but also admitted that the e-banking product have had a positive impact on their lives. In terms of the reliability of e-banking products, the results were mixed. Whiles some saw it as being reliable others strongly posited that the

The primary objective of the term paper is to find out a feasible solution for the banking

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.

Now it is not easy to operate the banking practices like traditional approaches of 1800 or 1900 A.D. Today’s banks need to recognize that they are no longer geographically bound, and that the introduction of electronic autobahn represents a whole new delivery channel for customer services.

The banking system is facing the challenges with stiff competition and advancement of technology, the services provided by banks have become more easy and convenient. The competitive character has been promoted by facilitating the entry of foreign banks. The country is flooded with foreign banks and their ATM stations. Efforts are being put to give a satisfactory service to customers. Phone banking and net banking are introduced. The entire system has become more convenient ad swift. Time is given more importance than money.