Amity Business School

Amity Business School

If transaction of data is possible then why not in terms of money. If sending of information is possible between two email acc. Then why not money in banking acc. This is where e-Banking comes in the picture BANK ONLINE

PRESENT SENARIO

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A non-resident Indian (NRI) in Paris has an easy way to access money in this fashion capital of the world.

His Citibank account in India can be accessed through an ATM in Paris, which in turn transmits information to Citibanks central hub in the US. The Indian rupees are converted to US dollars, which are in turn converted into French Francs at the current exchange rate, the Indian account is debited and the Francs made available to the NRI.
Welcome to the era of technology banking!

Definition

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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."

What is E-banking? Amity Business School

Online banking or Internet banking In simple terms it does not involve any physical exchange of money, but its all done electronically, from one account to another, using the Internet. From a personal computer, you can access your bank account information, and perform many banking functions, like transferring money, making a loan payment

Advantages

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Eliminates the use of paper and replaces it with computer screens No need to stand in line at the bank, because all you have to do is log onto the internet & access your account Its safe, hassle free, saves hours of time a month

BENIFITS

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It comes with a world of other benefits: Interest earning checking accounts Automatic bill payment ATM/Debit cards Credit Cards Direct Deposit Online Statements Loans Money market accounts

Transaction costs

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ADVANTAGE OF CUSTOMER
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As an online bank customer, you have a website that is at your disposal 24/7 You can get your online statement for the month, week, day, or year You can send e-mails with questions or concerns You can pay bills

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E- Banking Setup

Elements of an E- Banking System

Hardware
o Servers o Storage device and database o Communication channels and lines o Gateways and remotely located devices (e.g., thin clients or Internet appliances) serving as interfaces between users and computers

Amity Business School

Amity Business School

Software oOperating systems oFirewalls oDatabase management systems oSecurity application programs.

E- Banking Setup

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Areas Of Security
Authentication

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o Verifying your identity using passwords/pass phrases and certificates

Confidentiality Non Repudiation

o Method by which the sender of data is provided with proof of delivery and the recipient is assured of the senders identity

Contd..
Integrity Access Control

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o Mechanisms and policies that restrict access to computer resources

Availability

Access Control

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Access control restricts the flow of data traffic Internet Banking uses firewalls in the area of access control. Internet Banking two firewalls are used
o One before the Internet Banking server o Before the SQL database

Authentication

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Digital Certificate o A digital certificate is an electronic ID, which is verified by a third party, a certification authority (CA) o The CA controls the Public Key Infrastructure (PKI). o A security certificate ,associates an identity with a public key. Only the owner knows the corresponding private key that allows the owner to "decrypt" or make a digital signature. o Eg Barclays UKs Digital certificate

E-banking Trends Worldwide

Amity Business School

Concept of E-banking is more prevalent in the technologically developed parts of the world such as Europe and the US The number of online banks in Western Europe has mushroomed. As per Bluesky International Marketing, a US based research agency, the number is quoted at 1,845 in mid 1999. The scene is similar in the US where a recent Dataquest survey forecasts that the number of US households banking online will reach 24.2 million by 2004.

Scenario Changed

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Jurassic banking is pass. The Internet is slowly converting retail banking into a commodity where the days of loyalty to bricks and mortar banking are obsolete. Retention of customers Survival in competitive markets Reduction of transaction costs

IT enabled RelationshipBusiness School Amity Banking

Emphasis on Human Capital Customer oriented. IT enabled Customer relationship management for banking services. Maximisation of profitability through the use of detailed Customer information. Financial portfolios tailormade to Customers individual needs.

Tools used in Relationship

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Banking
Networking Techniques. Parallel Systems. Data Warehousing Data Mining

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22

Amity Business School

Infinity - Internet Banking Service It was launched in December 97 and has 15,000 customers. It offers you convenient remote banking facility. It provides you an easy and secure access to your accounts with us. With just a PC connected to the Internet, you can have your account information at your fingertips, from anywhere in the world, anytime. So, if you don't want brick and mortar bank timings to hassle you. ICICI Internet banking is just the service for you.

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ICICI Bank is today the second largest bank in India and among the top150 in the world. It currently has assets of over USD 79 billion. It provides services through a network of about - 950 branches 3300 ATMs - 3200-seat call centre (as of 2007) - currently having more than 10mn users.

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Online Services Offered

Account information
Summary of all your Accounts by giving details of each account,

snapshot of balances, available credit lines, record of payments and transfers. Allows transaction tracking (retrieval of transaction details based on cheque number, transaction amount etc) Provides account statement and transaction reports based on user defined criteria. Displays account balance message and also a warning when the Account balance limit has been crossed. Allows you to view details of fixed deposits and loan installments due.

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Funds transfer
-Transfer money between your accounts across any of the branches - Third party funds transfer which means you can transfer money to any other ICICI bank holder.

Requests and intimations

-electronically submit a request for : -Cheque-book -Stop Payment Instruction -Opening a Fixed Deposit -Opening a Recurring Deposit

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Communication with your account manager

-Mail-box facility enables you to send secure mail to your account manager to find out the status of a request or for any clarifications.

Personalized Content - ICICI provides customized content exclusively for its users.
- Personal Finance containing views of experts

- Select articles on electronic commerce, information technology - Lifestyle articles on various places of tourist attraction - News updates

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Online investments Online real time e-shopping payments

-Online shopping payments at rediff.com, fabmart.com, malamall.com, magiccart.com, indiainfoline.com, eindia.com, indbazaar.com, shoppersstop.com, sify.com

Utility bill payments

-ICICI Bank has now tied-up with Life Insurance Corporation to accept the payment of life insurance premium over Internet -Payment of Bills of the cellular operators

Homepage

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Latest Features of

Amity Business School

BFB: Branch free banking is a new concept developed by ICICI

bank to encourage the online banking where there is no need to go to the bank one you are registered and there is no need to change the account all across the globe.

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THANK YOU