A strategic issue that affect organization

Topics: Bank, Online banking, Prestel Pages: 2 (586 words) Published: May 8, 2014
In addressing this week’s Discussion Question I’d like to talk about Online Banking The origin of online banking can be traced to The Bank of Scotland which in 1983 offered Nottingham Building Society customers their first internet banking experience called ‘Homelink’. The customers could connect via a television set and a telephone to make transfers and pay bills. Online banking is a process that allows customers of a financial organisation to conduct financial transactions via a secure website without having to leave the comfort of their homes or offices. According to Singer, D.D et al (2012) Banks see online banking as an excellent low-cost channel for both transactions and building relationships The benefits of online banking include convenience, availability of the service 24 hours which in turn helps to extend banking hours even after the bank has closed, the platform is user friendly and it helps for easy account management. The features include transfer of funds, bills payments, access to transaction history etc. The impact online banking has had on my organisation is both positive and negative. Online banking has helped to improve the quality of service rendered to customer as the service extends beyond the normal banking hours, it creates ease of transaction. The customers are in charge of their transactions and are kept abreast of activities in their account. In this e-era, some customers have been susceptible to hacking, fallen prey to phishing mails and the likes. It is the organization’s responsibility to create awareness and educate its customers with regards to cyber-crimes and e-fraud. Some other problems faced are high cost of information technology in Nigeria, inadequate infrastructure facilities like poor telecommunication network etc. In more advanced financial markets, online banking has grown rapidly and global acceptance has reinforced the speed of penetration.  I believe that the ‘Strategic Organisation Module’ will give me a better...
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