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    Akkul E Banking

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    Akkul Dhand
    Online banking, also known as internet banking, allows customers to conduct financial transactions through a secure website operated by their financial institution. It allows both non-transactional tasks like viewing account balances and transactional tasks like funds transfers and bill payments. The first country to implement e-banking was Finland in the 1990s, and it was introduced in India by ICICI Bank in 1997 under their "infinity" brand. Online banking provides benefits of convenience, lower costs, and faster transactions for both customers and banks.

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    Akkul E Banking

    Uploaded by

    Akkul Dhand
    92 views21 pages
    Online banking, also known as internet banking, allows customers to conduct financial transactions through a secure website operated by their financial institution. It allows both non-transactional tasks like viewing account balances and transactional tasks like funds transfers and bill payments. The first country to implement e-banking was Finland in the 1990s, and it was introduced in India by ICICI Bank in 1997 under their "infinity" brand. Online banking provides benefits of convenience, lower costs, and faster transactions for both customers and banks.

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    Online banking, also known as internet banking, allows customers to conduct financial transactions through a secure website operated by their financial institution. It allows both non-transactional tasks like viewing account balances and transactional tasks like funds transfers and bill payments. The first country to implement e-banking was Finland in the 1990s, and it was introduced in India by ICICI Bank in 1997 under their "infinity" brand. Online banking provides benefits of convenience, lower costs, and faster transactions for both customers and banks.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    92 views21 pages

    Akkul E Banking

    Uploaded by

    Akkul Dhand
    Online banking, also known as internet banking, allows customers to conduct financial transactions through a secure website operated by their financial institution. It allows both non-transactional tasks like viewing account balances and transactional tasks like funds transfers and bill payments. The first country to implement e-banking was Finland in the 1990s, and it was introduced in India by ICICI Bank in 1997 under their "infinity" brand. Online banking provides benefits of convenience, lower costs, and faster transactions for both customers and banks.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 21

    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. It is a part of e-commerce and comes under the category of retail services of the e-commerce.

    Non transactional tasks: viewing account balances viewing recent transactions

    downloading bank statements, for example

    in PDF format viewing images of paid cheques ordering cheque books

    Transactional tasks Funds transfers between the customer's linked

    accounts Paying third parties, including bill payments (see, eg., BPAY) and telegraphic/wire transfers Investment purchase or sale Loan applications and transactions, such as repayments of enrollments

    Electronic fund transfer

    Automated teller machines


    Electronic data interchange Credit cards/debit cards

    Smart cards
    Digital cash

    First electronic channel

    introduced to HK
    Accepting deposits and

    dispenses cash
    Convenient in handling accounts

    A Demonstration of Paying Tax Online of HSBC


    Step 1

    - Click Add New Merchant

    - Choose the category, merchant and bill type - Insert the bill payee account number

    Step 2

    Choose the account that you want to transfer from Insert the amount of fund that you would like to transfer Choosing the date of transfer

    Benefits to the bank

    Benefits to the customers

    Competitive advantage

    Unlimited network
    Lesser workload Lesser chances of fraud

    Better profitability
    Increases customer relationship

    Convenience - 24 hours a day, seven days a week Cost - Reducing transfer fees Speed - Faster circulation of assets

    Competitiveness - Fostering competition in financial market

    A need for customer skill to deal with computers

    and browsers. Security Risk:


    Increasing number of fraudulent bank websites Fake emails purporting to be sent from banks Use of Trojan Horse programs to capture user IDs and

    passwords

    Constituted by the RBI, a working group divided the

    internet banking products in India into 3 types based on the levels of access granted.
    Information Only System Electronic Information transfer system Fully Electronic Transactional System

    Finland was the first country in the world to have e-banking. In India, it was first introduces in 1997 by the ICICI bank Under the brand name infinity

    ICICIs registered a profit of 21% to its equity

    shareholders in the year 2001.


    Suvidha the initiative started by the Citibank in 1998

    claims to encourage customers to interact with electronically using telephones, the internet and ATMs.

    The vice president of the global trust bank P.C.

    Narayan says, An electronic transaction costs as much as 65% less than a physical one. ATMs have emerged as a knew business model for the banks and the banking has been conducted. I think it is one of the remarkable things that has happened to the Indian banking industry.

    A Reserve Bank of India (RBI) committee has come out

    with the road map for electronic banking and has sought legislation on EFT systems to facilitate multiple payment systems for banks and financial institutions. The RBI has been gearing up to upgrading itself as a regulator and supervisor of the technologically dominated financial system

    Several initiatives taken by the Government of India as

    well as the RBI have facilitated the development of Ebanking in India. The Govt. of India enacted the IT Act, 2000 with effect from Oct.17,2000, which provides recognition to electronic transactions and other means of electronic commerce.

    The potential of E-banking is huge. With the

    increase in connectivity, the number of users will explode, says K.V. Kamat, the CEO of ICICI Bank.
    Web based banking service or E-Banking the latest

    generation of banking transactions, has opened up new window of opportunity to the banks and existing financial institutions. Since its evolution in 90th decade, it is having unprecedented growth.

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