BBM IO6 SEMINAR
ONLINE BANKING
Submitted by-Ravi MouryaRohit yadav
Topic covered.Online bankingFeaturesBenefitsDrawbacksSecurity
featuresConclusion
ONLINE BANKINGOnline banking(Internet banking) allows customers
to conduct financial transactions on a secure website operated by
the institution. It may include of any transactions related to
online usageTo access a financial institution's online banking
facility, a customer having Internet must register with the
institution andset up some password for customer verification.
FEATURESA bank customer can perform some non-transactional tasks
through online banking, including viewing account balancesviewing
recent transactionsdownloadingbank statementsviewing images of
paidchequesordering cheque books
FEATURES (contd)Bank customers can transact banking tasks
through online banking, including-Funds transfersbetween the
customer's linked accountsPaying third parties, includingbill
paymentsInvestmentpurchase or saleLoanapplications and
transactions, such as repayments of enrollments
ONLINE BANKING GRAPH
BENEFIT OF ONLINE BANKINGAnytime banking and anywhere
bankingReduction in cost of transactionPay bills online there by
saving postal serviceEasy to make utility paymentOnline
purchaseService is available 24x7 Online banking is much cheaper
for the bank. A survey says that Online Banking costs only 10% of
branch services
DRAWBACKS OF ONLINE BANKINGDifficult in adoption of
technologyBank site changesNeed an account with an Internet Service
providerSecurity concern, like hackers accessing your bank
accountHigh cost of technologyMust have basic computer skills and
internet knowledge
SECURITY FEATURESSecurity is a primary concern in internet
bankingSSL(secure sockets layer) protocol is used to ensure data
security between customer browser and web serverCustomer database
is protected by double firewallsUser name and pinsAnti-virus
SAMPLE SAFETY MEASURESChange your password periodically Review
your bank accounts frequently Try to use low limit credit card for
internet transaction
CONCLUSIONThe strategy of bank is to provide value added service
and product to the customer, utilizing the internet extensively The
main aim is to making transactions through online possess and make
customer more beneficial
Thank You
