Online Banking Management System ALOK RANJAN VIT University (13MCA0094)

INTRODUCTION

“Web Banking” or “Internet Banking” or “virtual banking “is a term used to describe banking transactions that are performed via a secured Internet application.

A bank customer can perform Viewing account balances Viewing recent transactions Downloading bank statements in PDF format Viewing images of paid cheques Ordering cheque books Download periodic account statements Downloading applications for M-banking, E-banking etc.

Bank customers can transact banking tasks through online banking, including - Funds transfers between the customer's linked

accounts Paying third parties, including bill payments and

third party fund transfers. Investment purchase or sale Loan applications and transactions, such as

repayments of enrolments. Credit card applications.

Contd…

“Web-Banking.org” provides an overview of Internet Banking.

It discusses Conventional and Virtual banks e-banking services Internet security Cost and benefits considerations.

  Whether you are a complete novice to e-banking or an experienced web banking user wising to expand your knowledge.

This site will provide new insights.

HISTORY

It started on early 80’s. Online services started in New York in 1981. Banks who implemented it first. City Bank Chase Manhattan Chemical, and, Manufacturers Hanover.

They used videotex system.

The system (Homelink) allowed on-line viewing of statement, bank transfers and bill payments.

Contd …

In Jan,1994 online banking built into Microsoft personal finance software .

Stanford Credit Union creates first online banking website.

ADVANTAGES

Online account is simple to open and easy to operate.

It is quite convenient, as pay our bills can transfer funds

It is available all the time, i.e. 24x7. It is fast and efficient. Can keep an eye on your transactions and

account balance all the time. Great medium for the banks to endorse their

products and services.

 Can access your account from virtually anywhere.

Better rates.

Mobility: can manage a/c while on move.

It is good for the environment also.

DISADVANTAGES.

Security concern Learning difficulties Must be a “computer literate” Site Disruption

What we will do???

Two views Customer view Administrator view

Customer view

FACTS…

Some banks like USAA does not have physical location like other banks.

First bank to introduce net-banking in India. Corporation Bank (Public Sector) ICICI Bank (Private Sector) 3-out-of- 4 people do not realize that their

bank have mobile banking. Of those who are aware half use the service.

87% of online banking user access their bank website more than once in a week.

THANK YOU.

ALOK RANJAN

VIT University, Vellore

13MCA0094