Group member Tanveer Abbas Taimoor Hasan J.J Khatak Syed Mursaleen Hasan
Tanveer Abbas
Introduction
Internet banking system has become popular in recent years. Internet banking system is very easy for customer to access his account, check his balance and transfer his money within minutes. Currently the account holders of a bank want to easy and quick access and securable way to withdraw his money or other banking products. Online banking is one of the best way to access banking products, you can check your balance, pay your bills at your home just through enter with your email id on your respective bank web portal.
Tanveer Abbas
Introduction (Continued)
Internet
banking services means the services are provided by a bank to their customers through internet. Some examples of internet banking services are as below; Electronic Fund Transfers (EFT) Debit Card Utility Bills Payment Credit Card Bank Account/Balance Statement
Tanveer Abbas
Types of E-Banking
The
terms PC banking, online banking, Internet banking, Telephone banking or mobile banking refer to a number of ways in which customers can access their banks without being physically present at at the bank.
Tanveer Abbas
PC-Banking
Tanveer Abbas
PC-Banking
The
term PC banking is used for banking business transacted from a customers PC.
Using
the PC banking customers can reach their accounts for transactions by subscribing to and dialing into the banks Intranet proprietary software system using password.
Tanveer Abbas
Tele-Banking
Tanveer Abbas
Tele-Banking
Another channel, still popular with a lot of clients and very flexible (available 24 h a day, 7 days a week) is phone banking. There are several options of services. Options included : Checking account balance. Funds transfer between current, savings and credit card accounts. Bill payments . Stock exchange transaction Loan payment information
Tanveer Abbas
Internet Banking
Internet Banking
Internet
banking would free both bankers and customers of the need for proprietary software to carry on with their online banking transactions. Customer behavior is changing rapidly. Internet is now considered to be a strategic weapon for them to satisfy the ever-changing customers demand and innovative business needs.
Tanveer Abbas
Mobile Banking
Tanveer Abbas
Mobile Banking
This new banking channel offers one of the latest developments in financial services. You can pay for your parking with your mobile phone, you can receive your latest bank statement via messaging (SMS), and do some basic transactions like transfers or even receive alerts for orders.
Tanveer Abbas
Alerts for changes in quotes for clients investing on the stock market
Basic bill payments and small standing orders validation
Tanveer Abbas
ATMs
Tanveer Abbas
ATMs
ATMs are also available outside bank branches in supermarkets, in railway stations and airports, post offices or public places in general where a client may need financial services. Although designed merely to retrieve or deposit cash, new ATMs also offer basic banking services like transfers, standing orders, direct debits etc. developing into self service banking. At more advanced ATMs you can also buy tickets for cultural events, reload your mobile telephone card etc.
Oceania / Australia
WORLD TOTAL
34,384,384
6,710,029,070
7,620,480
360,985,492
20,783,419
1,596,270,108
60.4 %
23.8 %
172.7 %
342.2 %
1.3 %
100.0 %
NOTES: (1) Internet Usage and World Population Statistics are for March 31, 2009. (2) Demographic (Population) numbers are based on data from the US Census Bureau . (3) Internet usage information comes from data published by Nielsen Online, by the International Telecommunications Union, by GfK, local Regulators and other reliable sources. (4) For definitions, disclaimer, and navigation help, please refer to the Site Surfing Guide. (5) Information in this site may be cited, giving the due credit to www.internetworldstats.com. Copyright 2001 - 2009, Miniwatts Marketing Group. All rights reserved worldwide.
Tanveer Abbas
to Hertzum et al EBanking refers to the banking operations, which is done over World Wide Web.
Internet banking refers to the deployment over the Internet of retail and wholesale banking services .
E-BANKING IN PAKISTAN
Pakistan
Internet
Half
of the countrys 7,000 commercialbank branches are now computerised. of banks offer mobile-phone banking.
few
Increased relationship with customers, giving rise to greater loyalty and share of wallet
More cost-effective mechanism for communicating with customers Improved banking services Less staff (e.g. tellers and customer service officers] and less office space
Able to reach a wider cross-section of customers. Reach more offshore customers as they would be able to view account information from anywhere in the world.
Provides revenue and increases profitability Provides real-time banking information to customers Reduces the need for branch expansion, more reach and availability without an investment in property Decreases downtime if access workstation is affected
Benefits
Accessibility [Easy Access] Global access to accounts; clients can access account information anywhere and at anytime [24-hours-a-day; 7-daysa-week]. Higher availability of bank data. Increase Competition Give local merchants a chance to compete on international markets.
Increase Profitability and Savings Merchants/corporate clients get funds of varying currencies. deposited to their local accounts. Ordinary citizens can reap similar benefits. Saves Time Less time required for bank business. Quick delivery of products and services. Reduces commute.
More Choices
Can select from many financial institutions and from more products and Services.
Possibility of Cost-saving
TAIMOOR
International Reach Providing a new way for local entities to do business overseas and fulfilling cross-border banking needs. Potential for more investments locally by citizens living outside of Pakistan.
Sophistication of Basic Infrastructure. Increased technology exposure for citizens generally adds to the sophistication of basic infrastructure of the country thereby increasing its appeal to the investment community. Better image for Pakistan, particularly as a technology destination with superior financial services. Increased Competition Gives local merchants a chance to compete on international markets as well as provide a more competitive industry to global clients.
Additional area for Resource Development Generation of new jobs/employment, new job skills, and livelihoods Increased Productivity and Reduced Pollution More production time as less people will need to leave work to go to the bank. Less commuting would reduce the pollution from the motor vehicles, as there will be less traffic on the road. E-commerce Growth Enabling/paving the way for further development of e-commerce and merchant commerce [m-commerce] activity
Provide another [less expensive] alternative for consumers and business to conduct their business
Security Resistance to Technology Cost and Initial Expenses Legislation Lack of Public Education Online Population
CONCLUSION :
Although
online banking is not yet ubiquitous in Pakistani society but it has a very high potential and scope. is time for the Government, banks and consumer to Wakeup.
It
Internet banking as a possible e-commerce solution will create possibilities for local financial institutions by marketing their products and services, thereby attracting new clients and customers. Whilst internet banking is not without its drawbacks and challenges, this research recommends that the Pakistani Financial Sector should move closely towards as e-commerce solutions by conducting its transactional banking services through the internet.
You have no choice but to operate in a world shaped by globalization and the information revolution. There are two options: adapt or die.
THANK YOU!