Internet Banking Case Study Example | Topics and Well Written Essays - 4250 words

Internet Banking - Case Study ExampleThe report also has certain recommendations before the concluding words.In the enclose era of globalisation and privatisation, the only word that is presumed to be constant is the word change itself. With the effects of globalisation reaching all nook and corners of the human along with the unprecedented development and innovation in the field of communication and technology, the tricks of the trade are changing very fast. The development of communication and technology has definitely make the instauration much smaller and brought it within the periphery of our living room. The satellite television and the electronic media check kept the world on its toes by their commendable coverage. further the most beneficial has been the evolution of internet. Internet and its allied services have really done wonders in almost every aspect of life. The commercial world has been one of the most beneficial sectors from the upsurge of internet. The interne t covers almost all the aspects of life. The online aspects have really made the financial world much better position to be it. Most importantly it has brought in the transparency and promptness that was long due. Among the various financial sub-sectors, it is the commercial banks that are the most important. And the introduction of internet in the daily operation of such financial banks have made the consummateion all the most beneficial for all the concerned parties be it the valued guests, be it the commercial bank, be it the government or the monetary authority be it the media. Online BankingIn simple words, online banking is referred as the internet banking where the customer can operate and transact from every computer or terminal through internet and need not be present at the bank showtime. The online banking is basically operated from a secured website (https) and the customer of the bank is provided with a specified login and secret password, through which he can initi ate almost all the operations that is done at the bank branch kindred that of cypher statement, fund transfers and bill payments, etc. With in the purview of the online banking also fall the debit and the credit cards. Debit card deals with withdrawing money from ones account from any counter of the banks or other banks anywhere in the world (the card has to be supported by the withdrawing bank). The credit card assists the holder to have a certain specified sum of money from the bank even if he does not have the money in his account, in lieu of a loan, again any where in the world (where the card is supported). The debit and the credit cards are also used to pay bills at the major brands like that for travelling, shopping and dinning. The cards, an important aspect of online banking have made life easier for billions as one does not have to carry cash while travelling any more. With the advent of mobile technology and increasing use of internet through the GPRS and WAP enabled mo bile handsets, the facilities of banking is with in ones