What Are The Advantages And Disadvantages Of Electronic Banking

We can do our banking at home through the internet. For example we can set up and cancel standing orders through our online banking account. Transfer funds to other people, not just on a computer but now on our smartphones too. This technology has replaced the need for us to visit our bank and deal with a teller.

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

Customer always have twenty-four-hour and seven days access to the bank website. They can easily access to the account to make payment, to transfer fund, to check their account balance when the bank is not in the operation hour.

In the cutting edge world the utilizing of web can be elevate business method, items and administrations is mandatory for business. Electronic keeping money is a most effortless and speedier approach to execute with the banks staff. The primary reason for this proposed examination is resolved the points of interest and inconveniences of E-keeping money. This

PURPOSE – The purpose of this paper is to know the perception of the customers’ towards dimensions of E-banking between public and private banks across Accuracy, Cost Effectiveness, Efficiency, Accessibility and Easy to use.

Current technology is evolving fast, which brings new dimensions to people’s daily life. Moreover, network technological innovation not only brings huge economic benefits to the bank, but also has brought new needs for the requirements of online banking. The interaction between user and bank has been substantially enhanced by deploying computer operations, which not only reduce the cost of bank service, improving the efficiency of service, but also achieve a new kind of operation without using paper .However, Online banking transactions can be a double-edged sword. These conveniences give also rise to a series of safety problems such as phishing sites and cyber crime. Thus customer’s behavior has been limited on account of the unsafe e-commerce environments. This essay will argue that there exist risks in online banking which can lead to criminal behavior, and a number of reasonable solutions have been developed to reduce the risk for customers such as improving online banking system, raise citizens’ internet knowledge and workers’ professionalism to a new and higher level.

electronically. Although clients have enjoyed great convenience of ebanking and bankers have improved cost efficiency of banks (Lin and Lin,

Web saving money is slightly advancement in innovation and moves the managing an account industry into new universe of engineering. Internet managing an account that empowers budgetary establishment client, people or business to get to record, transaction, gets monetary data, pay bills & impose through the web.

The good news is that almost all the popular banking products are also available online. You can pay bills, view your account balances, and locate ATMs, transfer funds and even deposit cheques, all at any time to your convenience. In short, it is fast, safe, flexible, convenient and secure.

Online banking facilities so that the applicant can do all their transactions from the comfort of their home.

The banking sector is thus one of the most critical areas in business engagements, since it directly handles private customer information, account transactions, payments, loans, account transfers and balances, images of checks and statements, and much more. All these information is stored in computers and files where they can be easily viewed unless a well-authored and detailed security system is in place. While banking business is expected to ensure efficiency and safety for customer information, it is also supposed to provide a simple and user-friendly system of information sharing. According to (Ballad,

Our Internet Banking Solutions make it easier to control your payables and receivables. For instance, you can arrange to receive alerts when payments are due or pending your approval.

Internet/Computer Experience: 4.7% of Internet bank account holders had less than 6 months of experience using the Internet; 12.5% had 6 to 12 months experience; 39.1% had used the Internet for 1 to 3 years; 28.1% for 4 to 6 years and 15.6% used the Internet for at least 7 years. Therefore, of those with Internet bank accounts, nearly 83% had used the Internet for at least one year. However, of the respondents without Internet bank accounts, 75.8% had used the Internet for at least one year.

Electronic banking technologies greatly expanded in recent years. E- Banking service is based on the use of new technologies to provide various banking services directly to customers around the clock. Banks offer a wide range of these services

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.”