The activities clients are able to carry out are can be classified to as transactional and non transactional. Better productivity — Electronic banking improves productivity.
Details of payments to be made were input into the NBS system by the account holder via Prestel. When it was introduced for the first time, Internet Banking was used mainly as an information presentation medium in which banks marketed their products and services on their web sites with the development of asynchronous technologies; however more banks have come forward to use internet banking both as a transactional as well as an informational medium.
Customer should never share personal information like PIN number, passwords etc. Emerging Challenges 6. Most traditional banks offer e-banking services as an additional method of providing service.
It is acknowledged that the internet has already had a profound effect on delivery of financial services and this likely to bring more radical changes.
There are two ways to offer Internet Banking. It includes internet installation cost, cost of advanced hardware and software, modem, computers and cost of maintenance of all computers. Through this service, the bank offers information about its products and services to customers.
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Irrespective of that attempts have been made by the RBI and the banking authorities for promoting safety and soundness of online and e-banking facilities in the country by issuing necessary guidelines.
Similarly the reputational risks to banks themselves are important. April Online banking facilities typically have many features and capabilities in common, but also have some that are application specific.