Topic: internet banking

Made by: Sarthak gupta

history

Online services started in New York in 1981 when four of the city’s major banks : Citibank Chase Manhattan Chemical Manufacturers Hanover offered home banking services using the videotext system.

What is internet banking

o Internet Banking allows you to conduct bank transactions online, instead of finding a bank and interacting with a teller.

o In a broad sense, it is the use of electronic means to transfer funds directly from one account to another, rather than by cheque or cash.

definition

A system of banking in which customers can view their account details, pay bills, and transfer money by means of the internet.

The remote delivery of new and traditional banking products and services through electronic delivery channels.

TYPES

PC Banking Digital TV Banking Text Phone Banking Internet Banking

Uses of types of banking

SERVICES

Bill PaymentCredit CardInsuranceCustomer servicesRecharging your prepaid phoneShopping

Step 1: Access Internet Banking - Obtain your User ID and Passwords.Step 2: Create your Own Unique User ID.Step 3: Link the Account Number to your User ID

Who can use internet banking

working

Web server

Internet front officesystem

Bank back officesystem

Internet

Security subsystem

Branch office terminals

User

SSL connection

First step in the setup process is making a plan.

1. What are the services to be installed?

2. What services bank could implement in-house?

3. What services we could implement through ASPs (out-of-house)?

4. Who are technology partners?

Application Service Providers

advantages

Cost less Transaction speed Efficiency Speed banking Vast coverage

Issues in internet banking

Security Learning difficulties Lack of skilled personnel Technical breakdowns Long start up time inexpensive

Security risks

Increasing number of fraudulent websites

Fake emails purporting to be sent from banks

Use of trojan horse programs to capture user ids and password

PROBLEMS

Spoofing

“How can I reassure customers who come to my

site that they are doing business with me, not with a fake set up to steal their

credit card numbers?”

EavesdroppingData Alteration

“How can I be certain that my personal information is not altered by online eavesdroppers when

they enter into a secure transaction on the Web?”

“How can I be certain that my customers’ account

number information is not accessible to online

eavesdroppers when they enter into a secure

transaction on the Web?”

Security Problems

security

• Ensuring security while banking online, is to keep your password and pin number a secret.

• The security of your personal computer is very important for safe internet banking. Therefore, always install antivirus software and software to remove spyware.

• Checking your bank statements regularly will help you detect any transaction that has taken place without your knowledge.