Hsbc-Internet Banking.

Only available on StudyMode
  • Topic: Bank, Online banking, Commercial bank
  • Pages : 27 (7034 words )
  • Download(s) : 337
  • Published : October 8, 2012
Open Document
Text Preview
HSBC-internet banking

Introduction

Purpose

The purposes of this report were to gather practical knowledge about corporate online banking as well as personal online banking system. It also gave us an opportunity to know about the experts who are leading and making strategic decisions to enhance the expansion of online banking in our country. With the set guidelines and proposal by our faculty and with the friendly cooperation of the staffs of HSBC, this report comprise of an organization and project part.

Scope

The scope of this report is limited to the overall description of the company, its services and its organizational setup, technology, technical support. The report will mainly focus on the overview of Online Banking of HSBC Bangladesh and its strategies.

Methodology

Both the primary as well as the secondary form of information was used to prepare the report. The details of these sources are highlighted below.

Primary Sources

➢ Major sources of primary information were interviews with members of the staff of HSBC.

Secondary Sources

➢ Internal Sources
• HSBC Bank's Annual Report
• Online Banking Manual
➢ External Sources
• Website information
• Journal Published in newspaper

Limitations

One of the main barriers in writing this report was the confidentiality of data.

Executive Summary
Online banking is a new dimension in this era of revolution of information technology and the Internet technology has added a new ripple in the wave of automation of the service delivery system. Banking is a service-oriented industry and all the banks are endeavoring to bring qualitative change in their service delivery system by adopting the most up-to-date version of technology to keep sharpen the competitive edge with other competitors in the banking industry. The challenge for the banking industry has been to design this new service channel in such a way that its customers will readily learn to use and trust it. After all, banks have spent generations earning our trust; they aren't about to risk that on a Web site that is frustrating, confusing or less than secure. HSBC (Hong Kong and Shanghai Banking Corporation) is surely using their Internet banking facility as a sheer strength for their business to become the world’s leading financial services company. There Internet banking is also taking part in the advance ways of banking in our country.

Internet Banking
The number of customers who choose Internet banking as their preferred method of dealing with their finances is growing rapidly. Online banking (or Internet banking) is a term used for performing transactions, payments etc. over the Internet through a bank's secure website. First-ever online Banking system was introduced in the American Bank namely Wells Fargo Bank of California back in the year 1990 and within a few years of launching, this banking system got momentum worldwide. Now almost all the big-size banks in Europe, America and in other parts of the world introduced on-line banking to provide 24-hour automated services to their constituents. In Bangladesh Standard Chattered (2000) first introduced online banking service. This can be very useful, especially for banking outside bank hours (which tend to be very short) and banking from anywhere where Internet access is available. Online banking isn't out to change the usual money habits. Instead, it uses today's computer technology to give the option of bypassing the time-consuming, paper-based aspects of traditional banking in order to manage our finances more quickly and efficiently. The advent of the Internet and the popularity of personal computers presented both an opportunity and a challenge for the banking industry. For years, financial institutions have used powerful computer networks to automate millions of daily transactions. Today, often the...
tracking img