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USHA PRAVIN GANDHI COLLEGE OF MANAGEMENT

A VIRTUE OR CURSE

GROUP MEMBERS:
MALIKA. BAJPAI – (5)  NAMRATA. BHAGAT – (10)  ZAINAB. DAMANI – (19)  PUMMY. JAISWAL – (48)  FORAM. KAPADIA – (56)

MAIL BANKING PHONE BANKING MOBILE BANKING ATM ADVANTAGES AND DISADVANTAGES OF VIRTUAL BANKING .INDEX: WHAT IS VIRTUAL BANKING ONLINE BANKING E.

a powerful "value added" tool -.Virtual Banking: Bank with a very small or nonexistent branch network  Services through the Internet or other electronic channels  Virtual banking -.has become the focal point for banks to attract and retain customers.  .

Georgia.1995 Atlanta. Asia’s first virtual bank was FinatiQ – a division of the Bank of Singapore .April 2000 .USA.Origin: Security First Network Bank (SFNB) – Oct 18.

Features of Virtual Banking” Online Banking Mobile Banking Features of Virtual Banking E-Mail Banking Phone Banking Automati c Teller Machine .

Online Banking:  Variously known as:  PC banking  Home banking.  Electronic banking  Internet banking. .

Customer to conduct financial transactions on a secure website operated by their virtual bank. .

 paper-based aspects of traditional banking in order to manage your finances more quickly and efficiently . It uses today's computer technology to give you the option of bypassing the  time-consuming.

Also known as "3A bank. Anytime Anywhere Anyway .

 ICICI Net Banking  HDFC Net Banking  SBI Cards  LIC India  CitiBank Login .LIST OF BANKS:  The following are the list of banks and their online website address.

..Features of Online Banking Any Time 24*7*365  Any where  Bill payments  Investment (Online Trading)  Fund Transfers (Inter & Intra bank)  Request for Demand draft. Pay Order etc.  .

The six primary drivers of online banking : Improve costumer retention Reduces costumer attrition Facilitate the offering of more services Drivers Provides services offered by competitors Increase costumer loyalty Attract new costumers .

Email Banking:  The service which can be done for specific transaction though Registered Email ID. .

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PIN request Cheque book request . monthly statements through registered email id.Features of E-Mail Banking: Receive daily.

Phone Banking: Customers to perform transactions over the telephone .

Most telephone banking use an automated phone answering system with phone keypad response or voice recognition capability .

Features of Phone Banking Balance Inquiry Cheque Related Information Account Statement (For the day or any specific period on Fax) Transaction Details .

.Mobile Banking:  Also known as  M-Banking (m banking)  Wireless Application Protocol (WAP)  The service which can be done for specific transaction through Registered Mobile Number.

 payments etc. via a mobile device such as a mobile phone. . Mobile banking is a term used for performing  balance checks  account transactions.

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Features of Mobile Banking: SMS requests Automatic alerts .

 .Automated Teller Machine(ATM): Computerised telecommunications device  Provides the customers to access financial transactions in a public space  No need for a human clerk or bank teller.

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Identification of the costumer:  The customer is identified by inserting a  plastic ATM card with a magnetic stripe  plastic smart card with a chip.  Contains a unique card number and some security information such as an expiration date or CVVC (CVV). .

 Authentication is provided by the customer entering a personal identification number (PIN). .

Card to Card Transfer Withdraw cash across the world through international cards. View mini statement. . Deposit cash and cheque for collection.Features of ATM Withdraw cash instantly. Cheque Book Request.

: Withdrawing Japanese Yen from a bank account containing US Dollars). ATMs often provide the best possible exchange rate for foreign travellers and are heavily used for this purpose as well. Thus. the money will be converted at a wholesale exchange rate.Incase of Withdrawal of cash across the world through international cards:   If the currency being withdrawn from the ATM is different from that which the bank account is denominated in (e. .g.

Advantages of Virtual Banking: .

Convenience Ubiquity Transaction speed .

Efficiency Effectiveness .

Disadvantages of Virtual Banking:   Fraud Start-up may take time .

Learning curve Bank site changes .

The trust thing Unemployme nt .

 Blind  Hearing disability Problems encountered by disabled people and the ageing population .

Physically impaired Ageing population .

Cognitive or learning impairments .

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BIBLIOGRAPHY: WWW.GOOGLE.COM  WIKIPEDIA  .