Online Banking

Powerful Essays
Topics: Online banking, Bank
Chapter I

Introduction and It’s Background

Online Banking is a system allowing individuals to perform banking activities at home, via the internet. First of all, internet banking is an innovation in financial field nowadays. Then the scale of internet banking has been enlarging rapidly all over the world. Finally, internet banking increasingly closes to people's lives. This research is to inform the reader about the increasing importance of Online Banking Services. This includes the risks and benefits of Online Banking, its reliability and accessibility to make transactions and other banking activities. The main purpose that banks have been serving since their inception is keeping our money safe for us. While keeping our money safe, they also let us earn a certain amount of interest on the money deposited to them. Traditional banks have been doing this and online banks continue the same function the only difference is in the way the transactions are made. Some online banks are traditional banks which also offer online banking, while others are online only and have no physical presence. Online banking through traditional banks enable customers to perform all routine transactions, such as account transfers, balance inquiries, bill payments, and stop-payment requests, and some even offer online loan and credit card applications. Account information can be accessed anytime, day or night, and can be done from anywhere. Today’s world is one with increasing online access to services. One part of this which is growing rapidly is online banking. Combined with online retailers there is a lot of money changing hands, directed only by communication over the Internet. This technology offers institutions alternative or non-traditional delivery channels through which banking products and services can be delivered to customers more conveniently and economically without diminishing the existing services level. Online banking is the practice of making bank transactions or

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