Electronic Banking

Kandel Chhabi lal Basnet Gajendra Robert Sovk Friedrich Kleist

Contents
What is E-Banking Two approaches E-Banking E- banking devices Benefit of E-Banking Drawback of E-Banking Wireless banking Security features Simple safety measures Conclusion References

What is E-Banking?
Electronic banking is defined as: the automated delivery of new and traditional banking products and services directly to customers through electronic, interactive communication channels.

Two approaches E-banking

1 Dial-in Approach: Requires users to have a separate finance software, so that they can do all the process offline and connect to the bank just for transactions. 2 Internet Approach: Users directly log on to their bank website and complete all their work online.

E- Banking devices
Personal computers (PCs), Personal digital assistants (PDAs), Automated teller machines (ATMs), Kiosks, Touch tone telephones, Cellular and smart phones

Benefit of E-Banking
Anytime banking ,and anywhere banking Online Banking is much cheaper for the bank. A survey says that Online Banking costs only 10% of branch services Reduction in cost of transaction Pay bills online there by saving postal services. Easy to make utility payment Online purchases The services are available seven days a week, 24 hours a day.

Drawback of E-banking
Difficult in adoption technology Fear of technology High cost of technology Lack of preparedness Restriction on usage of technology

Wireless banking
Wireless banking is gaining popularity. With a phone number and a special PIN number a customer has access to his account balance from his cellular device. Allows user to pay bills, transfer funds between accounts and check accounts from anywhere. Banks like esk spoitelna, M-bank, CSOB bank offers wireless banking in Czech Republic. Security is an important issue in Wireless Banking. Newsbytes reports that wireless banking users will number over 50 million in the US by 2012 and in Europe almost 70 million.

Wireless banking

Security features
Security is a primary concern in internet banking SSL (Secure Sockets Layer) protocol is used to ensure data security between customers browser and web server. SSL provides data encryption, data integrity and server authentication. 512 bit data encryption. Customer database is protected by double firewalls.

Security features

Simple safety measures

Change Your password periodically. Review your bank accounts frequently. Try to use low limit credit card for internet transactions

Conclusion
The strategy of bank is to provide value added services and products to the customers, Utilizing the internet extensively. The main aim of e-banking is to making transactions through online poses and make costumer more benefical.

References
http://www.unicreditbank.cz/en/individuals/d irect-banking/online-banking.html http://www.bai.org/bankingstrategies/2000july-aug/index.html http://invalid.invalid/

Thank you for you attention.