Types of Electronic Banking

Presented by : Kirti Verma

Exam Roll No : 21326503076
Subject : Banking Present by : Kirti Verma
& Insurance
Introduction to Electronic Banking

Electronic banking refers to the process of conducting financial transactions

electronically, typically via the internet, mobile devices, ATMs, or other
electronic channels.

 Key Points:

• Evolution of banking towards digital platforms.

• Increased convenience and accessibility for customers.
• Shift from traditional brick-and-mortar banking to virtual banking
services.
Online Banking

Online banking, also known as internet banking, allows customers to perform

various banking activities over the internet.

 Key Points:

• Features: Account balance inquiries, fund transfers, bill payments,

online statements, etc.
• Advantages: 24/7 access, convenience, reduced paperwork, cost-
effectiveness.
• Examples: Chase Online, Bank of America Online Banking, etc.
Mobile Banking

Mobile banking enables customers to perform banking activities using their smartphones or tablets through dedicated
mobile banking applications.

 Key Points:

• Features: Account management, mobile deposits, transaction history, ATM locator, etc.
• Advantages: Portability, real-time updates, secure authentication methods.
• Examples: Wells Fargo Mobile, Citibank Mobile Banking, etc.
ATM Banking

ATM (Automated Teller Machine) banking allows customers to conduct various banking
transactions using self-service machines.

 Key Points:

• Features: Cash withdrawals, deposits, balance inquiries, fund transfers, bill

payments, etc.
• Advantages: Accessibility, convenience, availability outside banking hours.
• Evolution: Introduction of advanced ATMs with additional functionalities.
Telephone Banking

Telephone banking involves performing banking transactions over the phone with the help of automated systems or
bank representatives.

 Key Points:

• Features: Balance inquiries, fund transfers, bill payments, card activation, etc.
• Advantages: Accessibility for those without internet access, personalized assistance.
• Examples: Interactive Voice Response (IVR) systems, customer service hotlines
POS (Point of Sale) Banking

POS banking refers to conducting financial transactions directly at the point of sale, typically using debit or credit
cards.

 Key Points:

• Features: Card payments, contactless transactions, loyalty program integration.

• Advantages: Convenience, faster transactions, reduced need for cash handling.
• Examples: Card readers at retail stores, NFC-enabled payment terminals.
Cryptocurrency and Digital Wallets

Cryptocurrency and digital wallets enable users to store, send, and

receive digital currencies securely.

 Key Points:

• Features: Decentralization, blockchain technology, secure

transactions.
• Advantages: Global accessibility, lower transaction fees,
potential for anonymity.
• Examples: Bitcoin, Ethereum, digital wallet providers like
Coinbase, Trust Wallet, etc.
Security Measures in Electronic Banking

Security measures in electronic banking encompass various protocols and technologies implemented to protect
customers' financial data and transactions from unauthorized access and fraud.

 Key Points:

• Encryption: Secure transmission of data over networks.

• Two-Factor Authentication (2FA): Additional layer of security for account access.
• Fraud detection systems: Monitoring and identifying suspicious activities.
• Customer education: Promoting awareness about phishing scams and safe online practices.
Conclusion

 Emphasize the importance of electronic banking in modern finance.

 Future trends and advancements in electronic banking.