E Banking

In: Business and Management

Submitted By mukul1
Words 10366
Pages 42
Chapter 1: - E-Banking

[pic]


➢ 1.1 Introduction of E-Banking


➢ 1.2 Meaning of E-Banking

➢ 1.3 Functions of E-Banking

➢ 1.4 Types of E-Banking

➢ 1.5 Advantages of E-Banking

➢ 1.6 Limitations of E-Banking





1. Introduction of E-Banking: -

The acceleration in technology has produced an extraordinary effect upon our economy in general has had a particularly profound impact in expanding the scope and utility of financial products over the last ten years. Information technology has made possible the creation, valuation, and exchange of complex financial products on a global basis and even that just in recent years. Derivatives are obviously the most evident of the many products that technology has inspired, but the substantial increase in our calculation has permitted a variety of other products and, most beneficially, new ways to unbundled risk.

What is really quite extraordinary is that there is no sign that this process of acceleration in financial technology is approaching an end. We are moving at an exceptionally rapid pace, fueled not only by the enhanced mathematical applications produced by our ever rising computing capabilities but also by our expanding telecommunications capabilities and the associated substantial broadening of our markets.

All the new financial products that have been created in recent years contribute economic value by unbundling risks and reallocating them in a highly calibrated manner. The rising share of finance in the business output of India and other countries is a measure of the economic value added by the ability of these new instruments and techniques to enhance the process of wealth creation. The reason of course, is that information is critical to the evaluation of risk. The…...

Similar Documents

E Banking

... MATERIALS AND METHODS This study contains both qualitative and quantitative research. This paper contain information taken from websites and articles written previously. Secondary data has been used throughout the study of the project. 3 Abstract This preliminary study undertakes to investigate on electronic banking system and current scenario of e-banking in United Arab Emirates (UAE). Nowadays all the companies are trying to advance their technology and increase their output. Similarly Banks are also moving rapidly to an era of technological change. Online versions of nearly all existing payment methods are appearing rapidly bringing about profound changes in the whole system of financial services and intermediation. While many banks especially in Europe and the U.S. have adopted internet banking, this research shows that the majority of banks in U.A.E. are still in the early stages of developing e-banking. Only very few have well-developed e-banking facilities, despite all banks having an internet banking website for the convenience of their customers. This project will focus on discussing what is e-banking? What are the advantage and risk in adopting this banking system? What are the rules or guidelines to implement the system? What services does e-banking provide in the UAE and how e banking has increased the profit and efficiency of banks? 4 TOPICS PAGES 1. What is e banking...

Words: 3896 - Pages: 16

E Banking Products in Bangladesh

...E-banking product available in Bangladesh E-banking product and services can include wholesale products for corporate customers as well as retail and fiduciary products for individual customers. Ultimately the product and services obtained through internet banking may mirror product and services offered through other bank delivery channels. A brief description of e-banking products are described below Automated teller machine: An automated teller machine (ATM) is a computerized telecommunication device that provides a financial institution’s customers with a method of financial transaction in a public space without a need for a human clerk or a bank teller. Debit card: A debit card is a plastic card which provides an alternative payment method to cash. While making purchases. The amount of a transaction is typically displayed on a card reader, after which the customer swipes the card and enters the pin number. There is usually a short delay while the EFTPOS (electronic fund transfer at point of sale) terminal contact the computer network (over a phone line and mobile connection) to verify the authorize the transaction. Credit card: A credit card is a system of payment named after the small plastic card issued to users of the system. A credit card is different from a debit card in that it does not remove money from the user’s account after every transaction. In the case of credit card the issuer lends money to the customer. It is also different from a charge card...

Words: 1146 - Pages: 5

Can E-Banking Services Be Profitable?

...CAN E-BANKING SERVICES BE PROFITABLE? Olga Luštšik[1] Abstract For the last few years European banks have spent billions of euros into new electronic channels. But after some years of excitement banks long-waited sky-rocketing profits from this area didn’t occur. Estonian banks have also invested in expanding and improving the IT systems and a number of new e-banking services have been developed. Until recent time, most of the pricing decisions for e-bank services were made based on a gut feeling as current financial management information systems didn’t support such analysis. In the article author explores the implementation techniques of Activity Based Costing (ABC) in banking sector on example of an Estonian bank in order to analyze the cost structure for traditional and electronic channel transactions. The article shows how it is possible to implement ABC in banking sector and proofs empirically that electronic channels provide cost saving for banks and for bank clients. JEL classification numbers: G21, L11, L86, M40, O31 Keywords: e-banking, profitability, activity based costing 1. INTRODUCTION A few years ago no self-respecting financial consultant would travel without it: the bar chart showing that the marginal cost of Internet banking transactions was a tiny fraction of the cost of branch banking. It was the chart that launched dozens of stand-alone Internet banks. As a result, European banks have poured billions of euros into...

Words: 7435 - Pages: 30

E-Banking: ‘a New Era of Customer Satisfaction Through Sms Banking’

...E-Banking: ‘A new era of customer satisfaction through SMS Banking’ Abdullah Hassan, BBA(Hon’s), Fourth Year, Department of Management Studies, University of Chittagong, abdtek@gmail.com Abstract According to the Euronet mobile Banking Guide, there are currently close to 400 mobile operators in over 133 countries who are signing up 4 to 6 new customers every second. That means people are now much more interested in cell phone than before. Users always seek multi-dimensional use of their cell phones. The main purpose of this paper is to find out customer satisfaction through SMS Banking. Mobile phone operators provide various value added services (VAS) to their users including banking service and other utility services with the legal agreement with respective organizations. As mobile operators are trying heart and soul to retain existing customers and enhance new customers by adding VAS, hence a mobile banking solution called SMS Banking that allows people to bank with their mobile phones and its overview are presented in paper. Introduction There are various types of E-banking that are used in the field of IT and Banking. SMS Banking is one of them. SMS stands for ‘Short Message Service’. SMS Banking allows you to check account balance, transfer amount to other account, payment of utility bills like electricity bill, gas bill and water bill etc. Short Message Service is particularly adapted to 2G networks because they require low capabilities for data...

Words: 3779 - Pages: 16

Business Topics [E-Banking]

... and inspiration Shilpa Senger Contents INTRODUCTION 5 Objective: 6 Project Intention: 6 EMERGENCE OF EBANKING 6 DEFINATION OF E –BANKING: 6 CHARECTERISTIC OF E- BANKING: 7 COMMON E- BANKING SERVICE 7 Potential areas where e-Banking can be used :- 8 E- BANKING DELIVARY CHANNEL 9 ATM: 9 IVR (Interactive Voice Response): 9 CDM (Cash Deposit Machine): 9 POS (Point of Sale): 9 TYPES OF RISK IN E-BANKING: 9 Impact of e-Banking in traditional service: 10 EVOLUTION OF EBANKING 11 WHAT MADE E-BANKING SO HIT?. 11 Real time Banking 11 24/7 Banking 11 Banking from anywhere 12 Safe and secure Banking 12 Easy Loans, Instant Loans 12 High Performance and flexibility 12 ETHICS IN E- BANKING 12 CUSTOMER SAISFATION OF ATM SERVICES: A Case Study of Dena Bank 13 Review of literature 19 Finding 22 Concluding remark 28 References 29 INTRODUCTION In the current age, every application is being ported to web and allows the user to connect with the system and work online. It has allowed removing the barriers of the time and distance. Competition and changes in technology and life style have changed the face of Banking. Banking being the main financial back bone of any economy stays behind. Now a day, Banks are seeking alternative ways to provide and differentiate their services. Online Banking or...

Words: 6403 - Pages: 26

E-Banking

...| 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...

Words: 2243 - Pages: 9

Assignment on E Banking

...Contents Introduction: 2 E-Banking Tools 2 ATM 2 Mobile banking 3 Credit Card 3 Objectives of the Study 3 Methodology of the study 3 Data Source: 3 Sampling Plan: 4 Research Hypotheses: 4 Limitations of the study and further agenda for research 4 Literature Review 5 Findings 6 Using e-banking tools are easy and convenient 6 Using e-banking tools are safe 8 Transaction of money is easy with E- banking tools. 10 Privacy protection provided E-banking tools 12 Regression (ATM) 14 Regression (Internet Banking) 17 Regression (Mobile Banking) 19 Problems in E-Banking in Bangladesh 22 Grievance Settlement in e-banking 22 Increased Customer Expectations in e-banking 22 Security Problems Solving 23 Capacity/Scalability related Problems 23 Commonly Used Procedures of Handling Grievance 23 Internal Machinery to Handle Customer Complaints 24 Recommendations 25 Conclusion 25 Part-A Introduction: This is an era of electronic banking. E-banking refers to systems that enable bank customers to access accounts and general information on bank products or services through a computer or other intelligent device. E-banking offers speedier, quicker and dependable services to the customers for which it may relatively satisfy better than manual banking system. The rationale of this report is to recognize the impact of variables of e-banking on customer pleasure in Bangladesh. Gradually electronic banking is gaining much importance in Bangladesh. Customers‟ liking is...

Words: 6931 - Pages: 28

Banking

...What do you mean by Bank? There is no unanimous opinion as to when and how the word “Bank” was derived. But it is assumed that this word derived from the ancient Latin words “Banco”, “Bangk”, “Bancus” and “Banque”. Meaning of these words is long bench. Once a class of people used to sit in the bench particularly in Lombardy street of Italy for taking deposit and lending money as a banking business. Definition of Bank: ➢ Different authors have defined the “Bank” in different ways with a common principle to accept deposit from the public and lending the same to the borrowers. ➢ Some important definitions are: ➢ “A bank is an establishment which trades in money, and establishment for deposit custody and issue of money, and also for granting loan and discounting bills and facilitating transmission of remittances from one place top another” …... from Imperial Dictionary. ➢ “An organization through which funds in the form of money or claim to money are assembled and transferred from those individuals and firms having a surplus of economic goods(as represented by such funds) to other individuals & firm whose needs for funds exceed their existing supply”..... from Rollin G. Thomas. ➢ “Banking" means the accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise, and withdraw able by cheque, draft, order or otherwise. ……………. from The Bank Company Act, 1991. Banker...

Words: 2187 - Pages: 9

Banking

...Standard & Poor’s publishes “Banking Industry Country Risk Assessment” (BICRA) for India What is BICRA? * The BICRA methodology is practised to compare and evaluate banking systems across the globe. A BICRA score is given on the scale from group 1 to group 10, group1 being the least and 10 the most risky. * The assessment involves rated and unrated financial institutions that accept deposits and extend credit or do both of the particular nation. The BICRA score is based on the time span of three to five years. India’s Position * Indian banking sector has been classified as group 5(BBB- / stable / A-3). S&P accepts that the new government is growth centric but expects only gradual recovery. It believes the risk from economic imbalance would alleviate as credit growth could remain moderate and inflation adjusted property prices are likely to decline. “mPassBook” facility launched by SBI * The SBI included “mPassBook” facility in its android application “State Bank Anywhere” for SBI retail banking users. * mPassBook is an electronic application of a physical passbook for savings bank and current accounts. It remembers the transactions made by the user and syncs it into the passbook. The facility is expected to benefit around 1.5 million users. China launches Asian Infrastructure Investment Bank (AIIB) * In order to reduce the influence of west dominated World Bank China launched AIIB with initial corpus of $100 billion. China contains 50%......

Words: 292 - Pages: 2

E Banking

...PROJECT OF E-BANKING DEFINITION OF E-BANKING Electronic banking, also known as electronic funds transfer (EFT), is simply the use of electronic means to transfer funds directly from one account to another, rather than by cheque or cash. You can use electronic funds transfer to: •Have your paycheck deposited directly into your bank or credit union checking account. •Withdraw money from your checking account from an ATM machine with a personal identification number (PIN), at your convenience, day or night. •Instruct your bank or credit union to automatically pay certain monthly bills from your account, such as your auto loan or your mortgage payment. •Have the bank or credit union transfer funds each month from your checking account to your mutual fund account. •Have your government social security benefits check or your tax refund deposited directly into your checking account. •Buy groceries, gasoline and other purchases at the point-of-sale, using a check card rather than cash, credit or a personal check. •Use a smart card with a prepaid amount of money embedded in it for use instead of cash at a pay phone, expressway road toll, or on college campuses at the library's photocopy machine or bookstores. •Use your computer and personal finance software to coordinate your total personal financial management process, integrating data and activities related to your income, spending, saving, investing, recordkeeping, bill-paying and taxes, along with...

Words: 12900 - Pages: 52

The Reason of Using E-Banking

...The reason of using E-banking A well developed city with over 7 million citizens, Hong Kong, currently it has about 38 authorized institutions providing E-banking system among Hong Kong (Press release, 2004). Accordingly, this report is to examine the reason why people choose to use E-banking in Hong Kong rather than using traditional bank services and provide an overview on the advantage and disadvantage of using E-banking. After that, we will provide a recommendation on attracting more customers to use E-banking. Nowadays, more and more technology products are launched into the world, for example, smart devices such as iPhone, iPad, computer, and those technologies are designed to convince people in daily. At the same time, because of the fast development of smart devices, there are a lot of apps, software, internet page and etc., which are designed for those smart device users to use that aim to create a bridge to can allow people communication with the world all the time. X and Y generation are having a better education, therefore, they are easy to be received and accepted more information about new technology and use them. E-banking is an example that recorded the change in the world. E-banking provides 24 hours non-stop service on the Internet; users can manage their financial project all the time wherever they are. (Durisin, 2013) It also helps to reduce the operating cost of bank human resources (Mukherjee, 2013). However, there are people who still worry...

Words: 714 - Pages: 3

Banking

...Will Reforms Enable Outreach? M-CRIL Review of Rural Banking in India: Working Paper 1 Micro-Credit Ratings International Limited 602 Pacific Square, 32nd Milestone NH8, Gurgaon 122 001 INDIA Telephone: +91 124 230 9497, 230 9707, 405 0739, 426 8707; Fax: +91 124 230 9520 e-mail: contact@m-cril.com ; website: www.m-cril.com Study Sponsored by Swiss Agency for Development and Cooperation Micro-Credit Ratings International Limited Table of Contents Section Background Executive Summary 1 2 3 4 Introduction The Importance of Rural Banks Recent Performance of the Rural Banking System Reforms and the Rural Banks 4.1 A huge effort to reform the cooperative system 4.2 Sensible proposals for reorienting the Regional Rural Banks but… 5 Will Reforms Enable Inclusion? 5.1 Cooperative reform – is it good money after bad? 5.2 RRB reform – has the inclusion objective been sidelined? 6 Conclusion Page v vii 1 3 7 8 8 12 15 15 17 18 M-CRIL Review of Rural Banking in India Background This study follows from the discussion of issues in the performance of Regional Rural Banks (RRBs) written by Sanjay Sinha, Managing Director, M-CRIL and published in The Economic Times (newspaper) on 17 March 2007. In relation to financial inclusion, many of the issues raised there affect the performance of cooperative banks as well as the RRBs. These issues include • The effect of government ownership of RRBs on their ability to operate efficiently and effectively to fulfil the financial...

Words: 5545 - Pages: 23

E Banking

...Chapter 1: - E-Banking [pic] ➢ 1.1 Introduction of E-Banking ➢ 1.2 Meaning of E-Banking ➢ 1.3 Functions of E-Banking ➢ 1.4 Types of E-Banking ➢ 1.5 Advantages of E-Banking ➢ 1.6 Limitations of E-Banking 1. Introduction of E-Banking: - The acceleration in technology has produced an extraordinary effect upon our economy in general has had a particularly profound impact in expanding the scope and utility of financial products over the last ten years. Information technology has made possible the creation, valuation, and exchange of complex financial products on a global basis and even that just in recent years. Derivatives are obviously the most evident of the many products that technology has inspired, but the substantial increase in our calculation has permitted a variety of other products and, most beneficially, new ways to unbundled risk. What is really quite extraordinary is that there is no sign that this process of acceleration in financial technology is approaching an end. We are moving at an exceptionally rapid pace, fueled not only by the enhanced mathematical applications produced by our ever rising computing capabilities but also by our expanding telecommunications capabilities and the associated substantial broadening of our markets. All the new financial products that have been created in recent years...

Words: 10366 - Pages: 42

Banking

...The article presents a study which aims to analyze the role of information technology (IT) in the Indian banking industry. Indian banks are investing heavily in the technologies such as automated teller machine (ATMs), net banking, mobile banking, tele -banking, credit cards, debit cards, smart cards, call centers, CRM, data warehousing etc. It is essential to evaluate the impact of information technology on the performance of Indian banks in terms of extended value added services and customer satisfaction thereby. Foreign banks and Private sector banks which took more IT initiative, were found to be more efficient and more competent force than public sector banks in India. Based on the article, technological innovations have enabled the industry to open up efficient delivery channels. It is said that IT has helped the banking industry to deal with the challenges the new economy poses. The study examines the views of banking customers on the implementation of IT in banks. According to the author, private and foreign banks use more IT-related banking services than public sector banks. Keywords and Abbreviations: Awareness level, Banking sector, Customer Satisfaction, ITeS, Security ATM – Automated Teller Machines / Any Time Money CBS – Core Banking Solution IAM – Investment and Assets Management CRM – Customer Relationship Management GRC – Governance Risk and Compliance IDRBT - Institute for Development and Research in Banking...

Words: 318 - Pages: 2

E-Banking in Bangladesh: an Exploratory Study on How the Banks Are Adopting with E-Banking

...E-banking in Bangladesh: An exploratory study on how the banks are adopting with e-banking E-banking in Bangladesh: An exploratory study on how the banks are adopting with e-banking Prepared for: Mr. Shubhankar Shil Assistant Professor School of Business Administration University of Liberal Arts Bangladesh Course Teacher Insurance and Leasing Prepared by: Muntasir Rashid Khan Student ID. 1268 BBA Program (1st Batch) Department of Finance & Banking JahangirnagarUniversity Savar, Dhaka-1342 March 08, 2012 Letter of Transmittal March 08, 2012 Mr. Shubhankar Shil Assistant Professor School of Business Administration University of Liberal Arts Bangladesh Subject: Submission of Term Paper Dear Sir: I have great pleasure to submit my required term paper on E-banking in Bangladesh: An exploratory study on how the banks are adopting with e-banking. I have provided my best effort to conduct this report. Now I am presenting my report for kind assessment and hope that it will fulfill your satisfaction. Any kind of suggestion or recommendation from your side will be highly appreciated. Thank you. Sincerely yours, |..................... | | | |Muntasir Rashid Khan | |Student ID. 1268 | BBA Program (1st Batch) Department...

Words: 6509 - Pages: 27