In recent years the structure of banking as been changed to e banking networks.It refers to a system of allowing customers to perform banking activities at off banking sites such as home etc..Internet banking is fast gaining way across the globe for its convenience and ease of conducting transactions at a speed and service levels never dream t of,a decade ago.It has many security risks associated with internet banking in recent years.Internet banking is a cost free but effective delivery channel for the modern world has ever seen in the past years. Internet banking was first developed in the 80s.It made human life for simpler and effective. People all over the world use to begin internet banking over regular banking is in reference to convenience.Everybody like those methods that save time daily and makes task easier, that is what internet banking does. Internet banking has changed the face of old banking methods.Customers doesn’t have to wait for long queues or wait on the phone for basic services. All the people an expect a facility of anywhere, anytime banking which is fulfilled through internet banking.Every citizens in the world uses network connection for different requirements. It depends on them How they are using the Unlimited key to power or knowledge. Sometimes it can be dangerous and useful for many purposes if the people living in the world.Something non living internet can cause dangerous impacts on you and your family, it was also created by Homo sapiens for their own safety purposes.Nowadays the net is connected to all the satellites, military tech and secrets of government, now its not a safety tool it has become a deadliest weapon in the world rather than our military weapons we use in war. It is the next level of future war.so e-banking should be carefully done.
There are many advantages and also many disadvantages in Internet banking.At one side the cost and maintenance of internet banking infrastructure may not be necessarily justify the benefits to online banking and at the same time intangible cost of not providing internet banking can also become a huge loss for banks. ICIC bank was the first bank to introduce internet banking in India in 1996.It has changed the banking industry as well as banking services to its customers.E- banking as names suggested in the form of banking utilizes the internet and the WWW services.It is available 24×7 across all the geographies.In has few years, the number of customers has been increasing rapidly.Increased competition in the field of banking has forced banks to provide their services well.Banks always try to gain competitive advantages in technological atmosphere by adopting new technological software programs as soon as possible.IT has developed the banking sector to gain speed in communication and transactions for clients .Today, the total internet users in the world are estimated 10 billion citizens all over the world.It offers email alerts to warn the customers against an unauthorized activities.Banking services through internet is a become a way to keep the customers and attract them to the bank.Internet banking has been adopted by banks mainly to decrease cost and increase revenue .Internet banking has always been a Internet portal. There are two types of banking websites.There are plenty of perks offered by the banks to customers who adopted inter-banking over the normal visit physically to the nearest branch office.The benefits of online banking are:-
- Convenience- One of the most important benefits of online banking is that making transactions and payments from customers’ homes or office by just clicking on a button.
- Services- Internet technology has made it convenient for the banks and customers to access services by simply logging in. The services include financial budgeting, financial planning etc..
- Transactions can be completed within nanoseconds.
- Accounts can be accessed from any Internet sources in the world.
- It has lower costs.
- Customers can notify the bank of your change of address directly over the computer.
- It has lesser paper work.
- It has more loyal customers.
- It has lower cost for per transactions.
The disadvantages of online banking are:-
- Customers are uncomfortable with web browsing can become difficult when using online banking.
- There are many security risks present on the internet.
- Customers always rely on ISP to conduct their banking business online.
Internet banking has changed the world of the banking industry and it has major effects on banking relationships. E-banking is always easier than traditional banking but it has lots of risks and advantages too for the people in the world. Everyone should be careful while using e-banking.
BY: BIJI
