E-Banking

In: Computers and Technology

Submitted By evansodero
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| E – COMMERCE STRATEGY–CMH520 | GROUP WORK | JENNIFER KIUGUEVANS ODERO 1009983E-Banking"Discuss E-banking". |
Table of Contents 1. INTRODUCTION 2 2. History of E-Banking 3 3. Forms of e-banking 4 i. Automated Teller Machines (ATM): 4 ii. Mobile/SMS Banking: 4 iii. Smart Card/Debit Card: 5 iv. Internet Banking/ Online Banking: 5 v. Self Service PC Banking: 6 4. Why the drive towards e-banking 7 REFERENCES 11

1. INTRODUCTION

E-banking is defined as a fully automatic service for traditionally banking customer’s products based on information technology platforms. E-banking services provide customer access to accounts, the ability to move their money between different accounts or making payments via e-channels. The advantages generated by this services have determined an accelerate developing of this industry over the entire world.
E-banking relies heavily on information and communication technology (ICT) to achieve its promise for 24 hours availability, low error rates and quicker delivery of financial services Initially, e-banking was limited to phone banking operations and remote banking, but the range of services has increased thanks to the technological advances, the spread of online banking has coincided with the spread of high-speed broad and connections and the increasing maturation of the internet user population. 'Electronic Banking is the use of a computer to retrieve and process banking data and to initiate transactions directly with bank via a telecommunications network' Lipis et al, 1986
'Electronic banking is actually a repackaging, delivery and processing of traditional banking financial services such as cash withdrawals, fund transfers, placement of deposits through an electronic online medium as compared to customary paper based, offline system' Tan Min Ching, 1993. 2. History of E-Banking
The…...

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