Electronic Banking

Kandel Chhabi lal

Basnet Gajendra
Robert Sovk
Friedrich Kleist
Contents
What is E-Banking
Two approaches E-Banking
E- banking devices
Benefit of E-Banking
Drawback of E-Banking
Wireless banking
Security features
Simple safety measures
Conclusion
References






What is E-Banking?

Electronic banking is defined as:
the automated delivery of new and
traditional banking products and services
directly to customers through electronic,
interactive communication channels.

Two approaches E-banking

1 Dial-in Approach:
Requires users to have a
separate finance software, so
that they can do all the process
offline and connect to the bank
just for transactions.

2 Internet Approach:
Users directly log on to their
bank website and complete all
their work online.

E- Banking devices

Personal computers (PCs),
Personal digital assistants (PDAs),
Automated teller machines (ATMs), Kiosks,
Touch tone telephones,
Cellular and smart phones
Benefit of E-Banking
Anytime banking ,and anywhere banking
Online Banking is much cheaper for the bank. A
survey says that Online Banking costs only 10% of
branch services
Reduction in cost of transaction
Pay bills online there by saving postal services.
Easy to make utility payment
Online purchases
The services are available seven days a week, 24
hours a day.

Drawback of E-banking

Difficult in adoption technology
Fear of technology
High cost of technology
Lack of preparedness
Restriction on usage of technology

Wireless banking

Wireless banking is gaining popularity.
With a phone number and a special PIN number a
customer has access to his account balance from his
cellular device.
Allows user to pay bills, transfer funds between
accounts and check accounts from anywhere.
Banks like esk spoitelna, M-bank, CSOB bank
offers wireless banking in Czech Republic.
Security is an important issue in Wireless Banking.
Newsbytes reports that wireless banking users will
number over 50 million in the US by 2012 and in
Europe almost 70 million.

Wireless banking
Security features
Security is a primary concern in internet banking

SSL (Secure Sockets Layer) protocol is used to
ensure data security between customers
browser and web server.
SSL provides data encryption, data integrity and
server authentication.
512 bit data encryption.
Customer database is protected by double
firewalls.

Security features
Simple safety measures

Change Your password
periodically.
Review your bank accounts
frequently.
Try to use low limit credit
card for internet
transactions
Conclusion
The strategy of bank is to provide value added
services and products to the customers,
Utilizing the internet extensively.
The main aim of e-banking is to making
transactions through online poses and make
costumer more benefical.
References
http://www.unicreditbank.cz/en/individuals/d
irect-banking/online-banking.html
http://www.bai.org/bankingstrategies/2000-
july-aug/index.html
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Thank you for you attention.