The advent of internet has initiated an electronic revolution in the global banking sector. The dynamic and flexible nature of this communication channel as well as its ubiquitous reach has helped in leveraging a variety of banking activities. New banking intermediaries offering entirely new types of banking services have emerged as a result of innovative e-banking models. The internet has emerged as one of the major distribution channels of banking products and services, for the banks in the US and the European countries. Initially, banks promoted their core capabilities i.e., products, services and advice through the internet, then, they entered the e-commerce market where they were the providers\distributors of their own products and services. More recently, due to advance in internet security and the advent of relevant protocols, bank have discovered that they can play their primary role as financial intermediaries and facilitators of complete commercial transactions via electronic networks especially through the internet. Some banks have chosen a route of establishing a direct web Presence while others opted for either an owner of financial services centric electronic marketplace or being participants of a non-financial services centric electronic marketplace.
The trend towards electronic delivery of banking products and services occurs partly as a result of consumer demand and partly because of the increasingly competitive environment in the global banking industry. The internet has changed the customer's behaviors who are demanding more customized products\services at a lower price. Moreover, new competition from pure online bank has put the profitability of, even established brick and mortar, banks under pressure. However, very few banks have been successful in developing effective methods by using the internet and exploiting the opportunities offered by the internet. For traditional banks to define what niche markets to serve and decide what products\services to offer there is a need for a clear and concise internet commerce strategy.
[...] This may be particularly true for bank that engages in a variety of banking activities, as compared to banks or bank subsidiaries that specialize in e-banking ADVANTAGES OF MOBILE NETWORKS ALWAYS-ON 24X7 ACCESS;- Mobile networks will provide the ability for consumers to be transaction ready, much in the way cable access has facilitate online PC access and reduced consumer dial-up delays. ADVANCED PENETRATION OF MOBILE NETWORKS:- 2G (second generation) networks already cover more than 90 Percent OG the population in the western world, this number is growing steadily. [...]
[...] Such as your online banking site, to view and transfer funds between every financial account you own Choose a different password and change it frequently. Do not use the word PASSWORD as your password or your become one of such victims for hackers Ensure that the bank site is encrypted before you enter any personal details. A reputable anti-virus program, on the computer is a must to protect yourself against viruses that record the keys you press. Upload the latest version of your browser. [...]
[...] In the last three years bank have expanded their mass market\retail operation by launching sophisticated online transaction portals. The web is now an important channel for the conduct of banking and financial operation. Large investment houses are co-operating in creating new internet based orders and settlement platform and research services. New revenue generating products and services have also been launched. Bank are now offering technology consultancy services for B2B operation flow automation process for goods and services diser. In the near future internet users will probably handle their financial needs through non-financial internet, wireless. [...]
[...] The most basic online banking sites let you see account balances, transfer money between accounts, view transaction statements, and pay bills electronically. Some online banking sites let you apply for new accounts and loans, order new checks and stop payments, and many other services. Some online banking services are free; other, like online bill payments, usually requires a free. You'll have to check with your bank to see what charges for various online banking services. At this time, most sites only let you see information on the accounts you have with their institution; however, it's expected that in the near future you'll be able to use a single financial Web site, you wan to compare loan rates at a variety of banks, we can visit a dozen online banking sites in the time it would take us to drive to one bank and visit with a loan officer. [...]
[...] BENEFITS & RISKS OF INTERNET BANKING OCBC internet Banking offers you an alternate electronic channel where you can manage your bank accounts and perform banking transactions over the internet Banking is available to all OCBC Bank customers. With OCBC internet banking you will be able to enquire on your account balances, transfer funds, pay your bills and shares application history and even obtain an instant online approval for home loan, prestige credit and renovation loan. You can view our full range of internet Banking services. [...]
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