Online banking

6,781 views 17 slides Apr 18, 2020
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Slide Content

ONLINE BANKING A A SIGHT TO A NEW WORLD MADE BY –RANVIR SINGH MENTOR-MRS.SUMAN MAM

CONTENT History Definition Types Working Advantages Disadvantages Security Conclusion

HISTORY Online services started in New York in 1981 when four of the city’s major banks : Citibank Chase Manhattan Chemical Manufacturers Hanover Offers home banking services using video text system

What Is Online Banking Internet Banking allows you to conduct bank transactions online, instead of finding a bank and interacting with a teller. In a broad sense, it is the use of electronic means to transfer funds directly from one account to another, rather than by cheque or cash.

Definition  A system of banking in which customers can view their account details, pay bills, and transfer money by means of the internet.  The remote delivery of new and traditional banking products and services through electronic delivery channels.

Types PC Banking Digital TV Banking Text Phone Banking Internet Banking

Uses of Types of Banking

How can use Internet Banking Step 1: Access Internet Banking - Obtain your User ID and Passwords. Step 2: Create your Own Unique User ID. Step 3: Link the Account Number to your User ID

Working Branch Ofiice Terminal Bank Back Office System Internet Back ofice system Web Server Security Subsystem Internet User SSL Connection

Application Service Providers First step in the setup process is making a plan. 1. What are the services to be installed? 2. What services bank could implement in-house? 3. What services we could implement through ASPs (out-of-house)? 4. Who are technology partners?

Advantages Cost less Transaction speed Efficiency Speed banking Vast coverage

Issues in Internet Banking Security Learning difficulties Lack of skilled personnel Technical breakdowns Long start up time Inexpensive

Secuirity Risks Increasing number of fraudulent websites Fake emails purporting to be sent from banks Use of trojan horse programs to capture user ids and password

Security Problems Spoofing Eavesdropping Problems Data Alteration “How can I be certain that my personal information is not altered by online eavesdroppers when they enter into a secure transaction on the Web?” How can I be certain that my customers’ account number information is not accessible to online eavesdroppers when they enter into a secure transaction on the Web?”

Security While banking through the internet, make sure that the banking session is secure. In addition, always remember to completely log off, after completing the banking session. Ensuring security while banking online, is to keep your password and pin number a secret. The security of your personal computer is very important for safe internet banking. Therefore, always install antivirus software and software to remove spyware. Checking your bank statements regularly will help you detect any transaction that has taken place without your knowledge. Nowadays, the banking institutions have come up with a number of safety measures for ensuring secure internet banking

Conclusion The strategy of bank is to provide value added services and products to the consumer, utilizing the internet extensively. The main aim of E-banking is to making transactions through online poses and make customer more beneficial