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Internet Banking (E-Banking)
Finance & Accounting
Pages 5 (1255 words)
Internet Banking Author Institution Internet Banking This paper will analyze the concept of E-banking. More specifically, it will try to provide answers to the following questions in relation to E-banking. What is E-banking? What are the advantages and Disadvantages of E-banking?
The deployment of whole sale or retail banking services can also be referred to as E-banking. It involves individuals, and corporate customers. E-banking involves payments and settlements, bank transfer, household lending, documentary collection and credits and card businesses. E-banking services and products are accessed by customers who own accounts with E-banks. Customers make a request for information and conduct most of their retail banking transactions through computer, television and cell phones (Sarlak and Asghar, 2010). E-banking also describes the electronic connection between customers and bank so as to help in preparing, managing and controlling financial transactions. From a broader perspective, electronic banking is the provision of banking services through other means rather than the physical bank branches. E-Banking provides financial services to customers through various means. These means include home banking, telephone banking, Internet banking, mobile banking and Automated teller machines (Sarlak and Asghar, 2010). The driving force behind the adoption of E-banking by banks is to provide high interest rates and reduce service charges on the customers’ saving accounts. E-banks help to eliminate costs associated with virtual banks branches. This increases competitive advantage of e-banking with other banks (Sarlak and Asghar, 2010). ...
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