How technology has changed banking over the years
E-banking , online banking , net banking ,etc.have completely changed the way banking is done today.
Online banking, also known as internet banking or
web banking, it is an electronic payment system Electronic banking has many names like e banking, virtual banking,
online banking, or internet banking. It is simply the use of electronic
and telecommunications network for delivering various banking products
and services.In which permits customers of a
bank or other financial organization to conduct a variety of monetary
transactions through the financial institution's website. the web
banking industry will typically hook up with or be a part of the core
banking industry operated by a bank and is in contrast to branch banking
which was the normal way customers accessed banking services.
-- This is the basic step of
service that banks offer through their websites. Through this service,
the bank offers information about its product and services to customers. some banks may receive there reply and queries through e-mail ..
-- In this banks allow their
customers to submit instructions or applications for different services,
check their account balance, etc.
--In the third step banks allow their customers to generate their accounts for funds transfer, bill payments, etc.
Internet
banking provides personal and company banking services
offering features like viewing account balances, obtaining statements,
checking recent transactions, transferring money between accounts, and
making payments etc..
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