Online Banking

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Topics: Bank
BUSINESS STATISTICS AND MATHEMATICS-II
“ONLINE BANKING”

The summary of a survey conducted in order to find the awareness and usage of Online banking.

INDEX
SR.NO.
CONTENTS
PAGE
1)
Index
1
2)
Introduction to Online Banking
2
3)
Sources of Data
3
4)
Application of Mean
8
5)
Merits of Online Banking
8
6)
Demerits of Online Banking
9
7)
Internet Banking Risks
9
8)
Conclusion
10

INTRODUCTION TO ONLINE BANKING:
Online banking (or Internet banking or E-banking) allows customers of a financial institution to conduct financial transactions on a secure website operated by the institution, which can be a retail or virtual bank, credit union or building society.
To access online banking, the customer would go to the financial institution's website, and enter the online banking facility using the customer number and password.
Online banking facilities offered by various financial institutions have many features and capabilities in common, but also have some that are application specific.
The common features fall broadly into several categories
A bank customer can perform some non-transactional tasks through online banking, including - viewing account balances viewing recent transactions downloading bank statements, for example in PDF format viewing images of paid cheques ordering cheque books download periodic account statements
Downloading applications for M-banking, E-banking etc.
Bank customers can transact banking tasks through online banking, including -
Funds transfers between the customer's linked accounts
Paying third parties, including bill payments (see e.g., BPAY) and telegraphic/wire transfers
Investment purchase or sale
Loan applications and transactions, such as repayments of enrollments
Register utility billers and make bill payments Financial institution administration Management of multiple users having varying levels of authority Transaction approval process

Sources of Data
An Online survey was conducted on 51 people from different

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