ONLINE BANKING AND THE BANKING SECTOR Instructor Institution Submission Date Content list 1.0 INTRODUCTION 1.1 Background information 2.0 DISCUSSION 2.1 Evaluation 2.2 Advantages 2.3 Shortcomings 3.0 Conclusion 1.0 INTRODUCTION 1.1 Background information Banking experience, just as is the case with all other aspects of business, has had great evolution in the past…
On a broad analysis, the effect of e-commerce in people’s life has not been only in one dimension but through a wide spectrum of use, internet has been widely adopted for use in matters of shopping and transacting almost all bank procedures. Online shopping for various goods as well as services have not left consumer goods and services unattended to and according to the ‘Nielsen Global Consumer Report June 2010’ shopping for goods and services have had great evolution in the onset of online shopping (The Nielsen Company, 2010, p. 2). The advent of online stores through which sellers displays their goods and services and through which consumers shop for their consumer goods characterizes today’s commerce industry. Debates have however shaped the discussions about the topic of e banking; why the modern day banking institutions are adopting the e-commerce practices through adoption of such technologies as the internet for performing the transactions as against the traditional physical banking practices. Supporters of the practice of physical/manual banking procedures (who often are the older generation (Madden, 2010, p. 2), and who are opposed to the electronic banking practices, reasons that banking physically is easy and entails little logistics. It only gives one opportunities to conduct the banking procedures physically/manually where one-one interactions are preferred to the electronic practices. On the other hand, the supporters of the online banking practices affirm that the practice is more convenient than the physical banking in that one would have access to banking services such as withdrawals, transfers as well as transacting other complex banking transactions without physically visiting a banking facility (Hazel and Raphael, 2001, p. 4). The decisions to offer the online banking services by banking institutions may therefore stem from various reasons such as the convenience to customers, the good returns in use of internet for the procedures (which reduces the human labor costs incurred) and the general advancement of technology as is widely acknowledged in the current era. However, the evaluation of the advantages as well as associated factors that influence the adoption of online banking methods by different banking institutions takes to cognition that these services adopted vary from one region to another and from one country to another (Diniz, Porto and Adachi, 2004, p. 41-42). Institutional frameworks and culture within countries and the governments may have influence on the choice of methods of banking practices such as the internet banking. For instance, among some cultures, technological advancement is not appreciated and hence the effect to adoption of online practices such as banking would be unfavorable (Tan and Teo, 2000, p. 1-4). 2.0 DISCUSSION There has been noted evolution within the practice as necessitated by the ...
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The paper is structured in developing the understanding about e-business and how organisations are applying it in their business to take advantages from it. E-business forces organisations to find new ways for enlarging the market, enticing the customers and maintaining good relationship with them by customising the products and the services according to their requirements.
E-Business is not a new technology anymore and if some businesses are avoiding it they are already late. The economic cost of implementing an e-business solution is far less than the benefit it brings to the business. Return on Investment (ROI) is major concern for all businesses and boutique business is no exception.
The process of establishing an e-business is risky and requires many changes in business process and strategy to be successful. The intent of an e-business is to generate income, strengthen service and limit price by expanding using the internet. The prospects of online trading have substantial revenue and its realized when the services perform for the business.
Improved processes remain fundamental in achievement of significant gain within the business environment. The implementation of management system would enhance information sharing between different stakeholders, consequently improving efficiency of the communication channels utilised.
It provides an analysis of the current advancements of information technology in general and for the financial industry in particular; and details the strategic IT systems that are planned for the ABC bank in years to come.
ABC Bank is a new small bank with a network of 50 branches.
Detailed Analysis: An E-Commerce application is implemented in three tiers - the front end tier that connects to the users (web server), the middle tier that serves as the application server and the rear tier which is database server (DBMS). The three tier architecture is preferred for high volume transactions - otherwise a two tier architecture comprising of web server and database server is sufficient to run E-Commerce applications.
The next diagram depicts a finer detail description of the system in which they are trusted to show the finer detail for making the right amount of impact to understand and discover the micro details of the system and the interaction.
The next stage is
According to the author of the essay, e-business has various of benefits. Reportedly, it provides timely and accurate information - offers existing and potential customers and suppliers easier access to product/service information. Besides, it allows more effective management of existing and potential customers and suppliers within a single system of reduced complexity.
here every company competes with several other to gain customer loyalty, it has become imperative for businesses to implement systems that contribute towards doing so, use of the internet and intranets to connect to intermediaries, inter business departments and with the outside
ncluding the tools that businesses and organisations in the UK banking sector might use for evaluating their respective e-business systems and the underlying benefits. Emphasis has also been delivered to the challenges arising from enterprise systems for observing the
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