Introduc

tio
n to E-
Banking
:
What’s
E-
banking
Introduc
tio
n to E-
Banking
:
What’s
E-
banking
%!


&'



''

(
#

"
#
"
#





#


"'
)*
'
+

,
Introduc
tio
n to E-
Banking
:
What’s
E-
banking
?
•
%!


&'



''

(
#

"
#
"
#





#


"'
)*
'
+

,-
•
%
!





#"
,

#


"

#


#
'
"


#./

#'
)01*2-


"

#


"

#
The strategy of bank is to provide value added services and products to the consumer, utilizing the
internet extensively.

Banking system occupies an important place in nation’s economy.

As usual the traditional banking business assumes:

 Customer desk at bank building

 Office hours from 8:00 am to 7:00 pm
 Family or other activities after the job
 Their job during the day

E- Banking history dates back to 1980s

The term online become popular in the late 80s and referred to the use of a terminal, keyboard and TV
(or monitor) to access the banking system using a phone line

Stanford federal credit union was the first who offer online internet services to all of its members in
1994

Later on snapped up by other banks like Well Fargo , Chase Manhattan and Security First Bank
 E-Banking or Electronic Banking is a major innovation / globalization in the field of banking
Online banking has opened doors for all customers to operate beyond the boundaries.

Information revolution led to the evolution of internet, which leads to E-Commerce continued
by evolution of (E-Finance, E- Money)…… E-Banking and other financial services and products
like insurance, online brokering, etc.

E banking (modern banking) is virtual banking that means customer cannot see the bank but
with the help of technology he can conduct.

The banking activities anywhere in the world:

 Smart cards
 Phone banking
 ATM (Automated Teller Machine)
 Home banking
 Internet banking

(Benefits)

E banking is a product designed for the purpose of online banking that enables you :

Have easy and safe access to your bank account instead of finding bank and interacting with a teller.

Also fast and efficient electronic services that enables you to carrying out online banking services 24
hours a day and 7 days a week.

Accurate statements, current accounts, credits, overdrafts and your deposits .

Execution of national and International transfers in various currencies .

Execution of all types of utility bill payments (electricity, water, supply, telephone bill , etc)

Carrying out custom payments

Electronic confirmation for all transaction executed by E-Banking

Management of your credit card

Shopping

Ticket booking

Insurance
(How to access online Banking)

1. The customer would go to the financial institution website

2. Enter an online banking facility using the user Id and password
3. Link the account number to your user id

Types

 Pc banking ( laptop / desktop) 87%

 Digital TV banking(mobile phone / tablet) 28%
 Text phone banking (calling phone )21%
 Internet banking

Advantages:

1. Cost less
2. Transaction speed
3. Efficiency (quality banking)
4. Speed banking
5. Vast coverage
6. User friendly
7. Round the clock banking

Disadvantages:

1. A need for customer skill to deal with computers and browsers

2. Many people who are not comfortable with computers and internet and beginners find
it difficult to use it and time consuming.
3. A simple mistake, like clicking a wrong button may create a big problem.

Online frauds

While online banking has been around for any years, but no cases of fraud have been reported until
recently . Since the beginning of year2004, reports of fraud causes nearly explode

(Phishing) scheme involves using fake emails and/ or fake websites.

Spyware is generally considered to be software that is secretly installed on a computer and take things
from it without permission or knowledge of the users

Trojan horse is based on embedding a computer virus type software program on the computers pc
Skimming is a more advanced version of an identity theft fraud illegally copies the information from the
magnetic strip on the back of your plastics without interfering with legitimate payment transaction.