Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword or section
Like this
19Activity
P. 1
e Banking

e Banking

Ratings: (0)|Views: 2,614 |Likes:
Published by Swati Mann

More info:

Published by: Swati Mann on Oct 20, 2010
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as DOC, PDF, TXT or read online from Scribd
See more
See less

10/03/2014

pdf

text

original

 
EXECUTIVE SUMMARY 
E-banking usage has seen an explosive growth in most of the Asian economies like India, China and Korea. In fact Korea boastsabout a 70% e-banking penetration rate and with its tech-savvy populace has seen one of the most aggressive rollouts of e-bankingservices.Still, the main reason that E-banking scores over InternetBanking is that it enables ‘Anywhere Banking'. Customers now don'tneed access to a computer terminal to access their banks, they cannow do so on the go – when they are waiting for their bus to work, when they are traveling or when they are waiting for their orders tocome through in a restaurant.The scale at which E-banking has the potential to grow can begauged by looking at the pace users are getting e-banking in these big Asian economies. According to the Cellular Operators' Association of India (COAI) the e-banking subscriber base in India hit 40.6 millionin the August 2004. In September 2004 it added about 1.85 millionmore. The explosion as most analysts say, is yet to come as India hasabout one of the biggest untapped markets. China, which alread witnessed the e-banking boom, is expected to have about 300 millione-banking users by the end of 2004. South Korea is targeted to reachabout 42 million e-banking users by the end of 2005. All three of thesecountries have seen gradual roll-out of e-banking services, the most
 
aggressive being Korea which is now witnessing the roll-out of someof the most advanced services like using e-banking to pay bills inshops and restaurants.E-banking nowadays is the common trend here in our country.No more falling in line in banks, no more waiting tons of hours in the bank, no more days and weeks of waiting. All can be done with onecard, one gadget. It’s easy, it works, and most importantly, people likeit. But still, some people are having a hard time using this kind of technology mostly people who are used to do things the old traditional way. With the use of advertising, people are now motivated to use E- banking because again, it eliminates the hassle encountered whenusing the old process of banking.In this paper, the group will cover security issues and differentimpacts regarding the traditional banking method. The group isconcerned about the issues presented because the group thinks thatthese issues are very important and relevant today, a lot of people savemoney and really trust banks with their money. In addition, the group wants this research paper to be read by many students who are in noknowledge about certain issues about banking. Lastly, the group willprovide and recommend different solutions about the issues regardingE-Banking.In order for customers to use their banks online services they need to have a personal computer and Internet connection. Their
2
 
personal computer becomes their virtual banker who will assist themin their banking errands. Attaining information about accounts and loans, Conductingtransfers amongst different accounts, even between external banks,Paying bills, Buying and selling stocks and bonds by depot, Buyingand selling fund shares39 These services that are offered by e-bankingare changing and being improved because of the intense competition between the banks online. Banking industry must adapt to theelectronics age, which in its turn is changing all the time. EFTtransactions require authorization and a method to authenticate thecard and the card holder. Whereas a merchant may manually verify the card holder's signature, EFT transactions require the card holder'sPIN to be sent online in an encrypted form for validation by the cardissuer. Other information may be included in the transaction, some of  which is not visible to the card holder for instance magnetic stripedata and some of which may be requested from the card holder forinstance the card holder's address or the CVV2 security value printedon the card. EFT transactions are activated during e-bankingprocedures. Various methods of e-banking include: Telephone banking Online banking Short Message Service SMS banking Mobile banking Interactive-TV banking. Independent of location or time, youcan execute your payments and stock market orders and you getdetailed information on your accounts and custody accounts.
3

Activity (19)

You've already reviewed this. Edit your review.
RajviGadoya liked this
1 thousand reads
1 hundred reads
Kerun Niesya liked this
tepitspite liked this
Tariq Merghani liked this
simran jeet liked this
Sneha Gupta liked this
Sneha Gupta liked this

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->