Online Banking

One then clicks on the Login Online Banking button on the page’s top right hand corner. One then enters their Username and password they had provided when signing up. At this stage one checks their login credentials to ensure they are correct after which one clicks on the purple login button. This takes one into their account from where one can perform transactions or even apply for a loan.

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.

In recent years, banks all-around the world have buckled down to develop digital banking platforms to keep up to date with

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.

In this essay I will be writing about Online Banking, its use, how it evolved, impacts and how it benefited the global businesses. In late 1980s, the term online banking became popular. But in 1990s, the financial institutions implemented the online banking services. Initially it took some time to adopt the customers to do monetary transactions through online banking. Afterwards, with increasing use of computers, internet and World Wide Web, banks introduced new form of banking called Online Banking. It is a service from a bank to perform banking transactions through internet. Transactions like paying bills, transferring funds, applications and payments over loans & mortgages, accounting statements viewing, viewing account’s transaction history, looking for products and services provided by banks, getting answers of queries instantly.

Regardless of the large distribution of customer internet banking in various countries to date, banks look for more develop market. Now, market trends expansion are tentative. For example, customer insist of internet banking services in North America stuck in 2005, probably because of amplified security concerns related to increasing deceit character,

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

There are many reasons why people were influenced by online banking. Firstly, online banking is available during the 24 hour and seven days which people can access their accounts any time easily by their smart phones or on PCs and despite corner banks online sites always open. Individuals can benefit more from online banking than virtual banks because people can make payments and purchases from internet and it is also saves cost of papers to banks. Furthermore, individuals can any kind of product in spite of its price and amount such as vegetables from market or Television from technology store. Another reason why online banking convenient is due to people who have family or friends in another country can send money to their relatives without any difficulties from every point of world to the another point and by getting date of exchange rate.

Traditional banks offer many different services to their customers. These services include accepting customer money deposits, making loans to individuals and companies and providing servicing to the various loans and accounts offered. When compared with traditional channels of offering banking services through physical branches, electronic banking (e-banking) uses the Internet to deliver traditional banking services to their customers, such as opening accounts, transferring funds, and electronic bill payment (Fan, M. 2002).

Eighty-five percent of the survey participants said they would bank only with an institution that offered online banking capabilities. In addition, 82 percent said they would use more online capabilities if offered to them.

Online banking has become popular in this 21st century that online banking safety tips should be considered as a very important aspect of online banking if you don't want to fall victim of online fraudsters who are looking for whom to defraud.

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.

In the recent years, technology has gone through marvelous changes. The developments and innovation in technology and a hard line blend of these with the information technology have resulted in a significant paradigm shift in the banking sector from traditional online banking system. Technological developments have resulted in the creation of a global world which is also one of the motivating forces behind development of internet banking. Internet banking is simply considered as a system by which individuals, businesses or customers have access to their accounts, transact or transfer money, pay bills, obtain information regarding bank accounts and avail other banking related services through internet. The development in internet banking started in the

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.