“E- B ANKI NG”

“E- b a n k in g” - Th e e x e c ut io n o f f ina n c i al s e rv ic e s v ia i n te r n et , reduces cost

and increases the convenience for the customer to access the transaction. E-
Banking is an umbrella term for the process by which a customer may perform
banking transactions electronically without visiting a brick-and-mortar institution. The
following terms all refer to one form or another of electronic banking: personal
computer (PC) banking, Internet banking, virtual banking, online banking, home
banking, remote electronic banking, and phone banking. PC banking and Internet or online
banking is the most frequently used designations. It should be noted, however, that the
terms used to describe the various types of electronic banking are often
used interchangeably. The ever increasing speed of internet enabled phones & personal
assistant, made the transformation of banking application to mobile devices,
this creative a new subset of electronic banking i.e. mobile banking. In 1999 &2000
mobile banking as an established channels, still seems to be a distant prospect. The
internet is revolutionizing the way the financial industry conducts business
online, has created new players who offer personalize services t h ro ugh th e
we b p o rt a ls . Th is i n c r e as e to f in d n e w wa ys a n d inc r e a s e customer loyalty to
add the value to this product and services. Banks also enables customer’s lifestyle
needs by changing and increasing preference for speed and convenience are eroding
the traditional affinity between customer and branch offices as a new technology disinter
media test traditional channels, delivering the value proposition hinges on owing
or earning the customer interface and bringing the customer a
complete so lu tio n wh i c h sa ti s fi e s th e i r n e e ds . S ma r t c a r d i s a n e w t r en d
wh i c h p r ov id es th e op po r tu ni t y t o b u il d an in c r e me n t al r e v enu e s t rea m
b y providing an ideal platform for extended application and services. Banks are well
positioned to play central role unit in future M-commerce market. Banks have strong
relationships with corporate and business customers and a wide experience in providing
them with corporate banking services. Bank p r o v i d e s a m u l t i m e d i a o f s m a l l
and large retailers with acquiring functionality in credit card
transactions. Customers have t rusted relationships with banks and a
l o w e r p r o p e n s i t y t o s w i t c h b a n k i n g providers.