Technology Solutions for Promoting E-Banking in Bangladesh
Technology solution for promoting e-banking in bangladesh
EXECUTIVE SUMMARY
E-business has been continuously growing as a new industry during the last decade(Van Hoeck, 2001). The banking industry has been leading this trend in recent years,and now all banking transactions completing through internet applications is sometimes called e-banking. Some key issues addressed in the recent literature about the e-bankinginclude: customer acceptance and satisfaction, privacy concerns, profitability, operational risks, and competition from nonbanking institutions.E-banking has revolutionised the way business istransacted by globalising the business enterprise.
E-banking technologies have proliferated in recent years, and the availability of a wide range of products has led to increasing adoption among consumers. These technologies include direct deposit, computer banking, stored value cards, and debit cards.Consumers are attracted to these technologies because of convenience, increasing ease of use, and in some instances cost savings.E-banking, in particular, has grown at impressive rates. Between 1995 and 2003, e-banking increased eightfold.Between late 2002 and early 2005, use of online banking increased 47%, a clear evidence that e-banking is associated with better household financial management.
All businesses, including small and medium scale industries, no matter their geographical locations, are all beneficiaries of e-banking. It encompasses all kinds of commercial transaction that is conducted on an electronic medium, mostly through the internet. E-banking links business to customers no matter their geographical location. It allows companies to make new business contacts from different global business alliances, test new products and services, and make market research and other enquiries all at a minimal cost both financial and otherwise.
Smaller community banks, among others, are more interested in the application of e-banking to gain certain
EXECUTIVE SUMMARY
E-business has been continuously growing as a new industry during the last decade(Van Hoeck, 2001). The banking industry has been leading this trend in recent years,and now all banking transactions completing through internet applications is sometimes called e-banking. Some key issues addressed in the recent literature about the e-bankinginclude: customer acceptance and satisfaction, privacy concerns, profitability, operational risks, and competition from nonbanking institutions.E-banking has revolutionised the way business istransacted by globalising the business enterprise.
E-banking technologies have proliferated in recent years, and the availability of a wide range of products has led to increasing adoption among consumers. These technologies include direct deposit, computer banking, stored value cards, and debit cards.Consumers are attracted to these technologies because of convenience, increasing ease of use, and in some instances cost savings.E-banking, in particular, has grown at impressive rates. Between 1995 and 2003, e-banking increased eightfold.Between late 2002 and early 2005, use of online banking increased 47%, a clear evidence that e-banking is associated with better household financial management.
All businesses, including small and medium scale industries, no matter their geographical locations, are all beneficiaries of e-banking. It encompasses all kinds of commercial transaction that is conducted on an electronic medium, mostly through the internet. E-banking links business to customers no matter their geographical location. It allows companies to make new business contacts from different global business alliances, test new products and services, and make market research and other enquiries all at a minimal cost both financial and otherwise.
Smaller community banks, among others, are more interested in the application of e-banking to gain certain
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