...Since its introduction to the public in 1986, the Internet has drastically changed the world. Within a short span of time, it has brought about a new evolution in the mode of networking; expanding from its users population from thousands to billions across the world. With the progression in time, the Internet has become a necessity, playing a major role in various human activities. Despite the Internet being an indispensable tool of human living, it can also be a double edge sword. The purpose of this essay is to examine how the internet brings about benefits which at the same time harm us. With endless factors available for discussion, this essay will focus on its impact on banking, politics and society to surface the double-edged nature of the Internet. Physical transaction time and fear of theft are some of the common worries among the users of our traditional banking system. However, by incorporating the Internet with banking, all of these doubts can be removed with just one click of a button. Banking services are accessible in any location with internet connection. One no longer needs to adhere to the bank’s operating hours as it turns twenty-four hours. In addition, users can enjoy higher transaction efficiency through e-banking. On the other hand, these advantages have unintentionally created a perfect landscape for lawlessness. Personal information is being exposed to virtual theft. These cybercriminals can cause various damages with little trace of evidence left....
Words: 850 - Pages: 4
...Case Analysis Bank of America Mobile Banking - College Essays - Yibin2000 Log In | Essays Book Notes Citation Generator More Sign Up Search 850 000 Essays Henkel Business Challenge Create a new product or technology for a sustainable world with Henkel www.henkelchallenge.com/studentgame Savings Account Experience Great Savings with Standard Chartered Savings Account standardchartered.co.in/Savings Equity Market Read Financial News Anytime Online On Economic Times™ Official Site! EconomicTimes.Indiatimes.com Essays » Computers & Internet Case Analysis: Bank of America: Mobile Banking By yibin2000, May 2012 | 5 Pages (1,202 Words) | 677 Views| Report | Sign Up to access full essay This is a Premium essay Case Analysis: Bank of America: Mobile Banking Company Overview: Bank of America is the largest US bank founded in 1904, it has expanded through several acquisitions. By the end of 2009, Bank of America was the market leader serving 82% of the US population and over 53 million customers. They are positioned as number one in online and mobile banking. Their mobile banking services were launched in 2007 and have gained 4 million customers in less than three years. Acquisitions made by Bank of America prior to the financial crisis caused a very strong drop in their stock price. Customers: In 2009, 10 million customers used mobile banking and this is expected to grow to 37 million by 2014. Customers that use mobile banking are not the same as online customers...
Words: 780 - Pages: 4
...withdraws/deposits N1,000,000 in a day, the initial N150,000 will be processed free but you will be charge 10% handling cost for the excess N850,000, this means you will be paying N85,000 as charges. So, under the cashless policy you will be debited for N1, 085,000 if you withdraw N1, 000,000 and credited for N915, 000 if you deposit N1, 000,000. With the policy, a private/individual account can only do a maximum cumulative cash transaction of N150,000 with a service charge of N100 per additional N1,000, while a corporate account can only do a maximum cash transaction of N1 million with a charge of N200 per extra N1,000. Channels of Cash-lite transaction The Cash-lite transaction can be undertaking through the following mediums: Internet Banking/Online Banking: This enables normal...
Words: 1886 - Pages: 8
...Role of Technology In Banking Sector Technology has been a boon to many industries and especially to the banking industry. With the help of technology banks are able to reach out to more customers and provide better services to them. Also, it helps them function in an organized and in a secure way. As for us (the customers) we have ATMs, Cash deposit machines, online banking, mobile banking etc which are all fruits of technological advances which have made our banking experience much easier. The following points prove the importance of technology in banking industry: 1. Mobile banking: Telephone or Mobile banking is a service provided by a banks and financial institution where customer performs their transaction, over the telephone. This technology facilitates to call the bank and give order to a bank computer for carrying out of operation under your account. 2. Automated Teller Machine: An automated teller machine is a computerized device that provides access for financial transaction in a public place. The customer can have access to his bank account to make cash withdrawals and check balances. Apart from these functions ATM facilitates to transfer money from one account to another and can request for a cheque book. 3. Debit cards: A Debit card is a plastic card with a magnetic strip that can be used by a consumer as a means of payment. Unlike a credit card, there is no line of credit; the debit card is linked to the account. Funds charged to a debit...
Words: 378 - Pages: 2
...MODEL ESSAY-IMPORTANCE OF ALTERNATE CHANNELS OF BANKING In the present era of Banking, state-of-the-art technology assumes strategic significance. It is precisely here that Alternate Channels of Banking are in prime focus. The importance of alternate channels arises from the fact that Banks are trying to shift from traditional ‘bricks-and mortar’ banking to ‘clicks and bricks’ banking. It is imperative that footfalls at Bank branches need to be drastically reduced to allow employees to focus on quality customer service, marketing of products, as well as to reduce costs. Banking transactions in a branch costs anything between Rs 35 and Rs 40/-, ATM transactions cost Rs 15/-and Rs 18/-, Internet Banking: Rs 10/- and Rs 12/- while mobile banking : Rs 2/- and Rs Rs 5/-. Recognising the market demand for technology, especially in the retail sector, SBI has very effectively catered to such challenge and has put all the modern channels of banking to optimum use. The various alternative modes of banking adopted by SBI are: ATMs &Debit Cards, Internet Banking Mobile Banking. Kiosk Banking Customer Service Points Banking through Business Correspondents and Business facilitators. The advantages of adopting these new modes of banking are manifold. For the consumer, it ensures Freedom from the standing in the long queues; Working from the comfort of their homes/workplace and Round the clock accessibility. The benefits available to the Bank are: Fast and secure delivery...
Words: 322 - Pages: 2
...functions of a commercial banks are divided into two categories: - Primary functions - Secondary functions including agency functions. - Primary functions: The primary functions of a commercial bank include: - accepting deposits; and - granting loans and advances The role of commercial banks Commercial banks engage in the following activities: * processing of payments by way of telegraphic transfer, EFTPOS, internet banking, or other means * issuing bank drafts and bank cheques * accepting money on term deposit * lending money by overdraft, installment loan, or other means * providing documentary and standby letter of credit, guarantees, performance bonds, securities underwriting commitments and other forms of off balance sheet exposures * safekeeping of documents and other items in safe deposit boxes * sale, distribution or brokerage, with or without advice, of insurance, unit trusts and similar financial products as a “financial supermarket” * cash management and treasury services * merchant banking and private equity financing * traditionally, large commercial banks also underwrite bonds, and make markets in currency, interest rates, and credit-related securities, but today large commercial banks usually have an investment bank arm that is involved in the mentioned activities. Credit creation of commercial bank: One of the important functions of commercial bank is the creation of credit. Credit creation is the...
Words: 444 - Pages: 2
...IBPS clerk interview best successful tips: all questions answered. Tweet Submitted by BeingHuman March 13, 2012 - 40 weeks 8 hours ago IBPS has been one of the most successful organizations in the recent months in giving the Indian job seekers a ray of hope to enter the banks. The public sector banks will be calling up nearly 1 lakh candidates for interview from the list of IBPS clerk passed candidates. The query for IBPS clerk interview pattern and techniques to crack them has been the major concern among the candidates in the recent reports. So, the most effective and best IBPS clerk interview success tips have been bunched up together in this article and presented before the candidates to get most out of the public sector and private sector bank clerical interviews in the coming months. This report has been made up by some of the successful candidates in PO and clerical interviews from the major banks. Lets get into the questions and their definite answers. Query on how should I present myself in front of the judging panel? Ans: You should be correct on time and keep an eye on your documents that they are properly stacked according to preference or not. It shows a disciplined character of the candidate towards the panel. Dress up in formals and keep hairs and nails neat and clean. When you are to enter the room, ask for permission in a calm yet confident tone. And ask if you can seat when you go in front of them, sit when they ask you to sit. Calmly be firm and straight...
Words: 22608 - Pages: 91
...Legal Implications of Electronic Business Content: 1. Introduction 2. Issues surrounding the laws of E Business in Ireland and EU Countries 3. Legal Background 4. Licensing 5. Websites 6. Selling online and Distance Contracts 7. Recommendations Introduction According to research, Internet-based electronic business (e-business or EB) has been predicted to experience significant growth across Ireland and Europe. (Anderson Consulting 1999; Forrester Research 1999). Legal Implications The central issues of E-Business and the law include the development of E-Business, the role of consumers and regulation of E-Business in regards to consumer protection. E-Business is a new way of conducting business that takes place on the Internet, it has become an important way in which consumers purchase goods across the world as well as due to internet technology progressing rapidly in the last few years. Although E-Business has a big effect on the global trade, governments also have a large effect on the growth of E-Business on the internet by regulating is accordingly. As Governments set regulations for E-Business organisations managers are starting to worry if the regulations will be too tight or may reduce the market in the online trade. Regulation of E-Business is very important for the cyberspace market as it can help or stop the organisations working with E-Business, as well as being able to protect the consumers in the online market. Security...
Words: 744 - Pages: 3
...Technology and Banking Services The introduction of Information Technology services by the banks has positively impacted on the customers and has brought revolution in the operation of the banks. Technological facilities like ATMs, Mobile Money, Branch Network, Telephone Banking, Internet Banking etc have introduced by banks for the customers. The explosion of technology is changing the banking industry from paper to Internet and branch banks to digitized and networked banking services. It has already changed the internal accounting and management systems of banks. It is now fundamentally changing the delivery systems banks use to interact with their customers. All over the world, banks are still struggling to find a technological solution to meet the challenges of a rapidly-changing environment. It is clear that this new technology is changing the banking industry forever. Banks with the ability to invest and integrate information technology will become dominate in the highly competitive global market. Bankers are convinced that investing in IT is critical. Its potential and consequences on the banking industry future is enormous. Computers are getting more sophisticated. So Computers have given banks a potential they could only dream about and have given bank customers high expectations. The changes that new...
Words: 1584 - Pages: 7
...markets emerging within the UAE economy. the banking system developed my emirates is a relationship based system of banking with the monetary policy and system capable enough to fulfill funding supplies of a later stage that may be equity leasing or loans (John, 2010). ECONOMIC: Out of three million population of UAE 60% of them are in the workforce. In the UAE economy the level of FDI is very high. Globalization has helped improve the UAE economy greatly by bringing in thousands of workers, services and products from throughout the world. UAE has been a member of World Bank, WTO and IMF for seven years. The country has huge wealth and has experienced trade surplus of approximately over 100 billion dirham in the past year (Tomlinson, 2010). SOCIAL: All of UAE citizens have high living standard, a western lifestyle and continues rising financial positions. The society remains free and open to all types of restaurants, tourism, sport and recreational activities. The multicultural nature of society and economy existing in UAE allows fir many of the foreigners to work there in well paid positions (Cateora and Graham, 2007). TECHNOLOGICAL: The UAE population comprise of young and extremely technologically knowledgeable professionals. The IT industry aids tourism, hotel and IT service sector. The IT software industries and internet usage in the gulf region is double the rate of Europe. The UAE population has the largest users of internet, satellite and mobile phone within the...
Words: 492 - Pages: 2
...Customer is the kingpin for the development of trade, industry and services sector particularly in financial services. So, the significance of customer services in the banking sector came to force to compete in a market driven environment. Banks these days provide a variety of services ranging from opening a savings account to internet banking, granting loans to selling insurance, providing locker facilities to transferring money abroad. Their customers come from all classes of society from a salaried group to a Multi National Corporation having its business activities all around the world. The banks have to satisfy all the customers belonging to different social groups. Measuring services quality in the services sector particularly in the banking sector is more difficult than measuring the quality of manufactured goods. The banking has therefore become more complex and requires specialized skills. People working in banks act as a bridge between the bank and the customers. They are the people who face customers directly and are the first ones to know what customer actually needs. The concept of customer satisfaction and services quality is interrelated with each other. Moreover satisfaction of customer depends upon services quality and service quality is increasingly offered as a strategy by marketers to position themselves more effectively in the market place. As survival of the fittest has become the order of today, every bank is trying woe the best customer who is common for...
Words: 2258 - Pages: 10
...[pic] [pic] [pic] TABLE OF CONTENTS |S.NO |PARTICULARS |PAGE NO | |1 |Introduction to customer perception and banking industry |3 | |2 |Literature review |4-6 | |3 |Objectives and hypothesis |7 | |4 |Research methodology |8 | |5 |Limitations |9 | |6 |Data analysis |10-24 | |7 |findings |25 | |8 |Suggestions |26 | |9 |Conclusions |26 ...
Words: 3002 - Pages: 13
...tation Compensation Policy Bd Telecommunication Rukana.Ppt Course No: EHRM-521 Course Title: Compensation Management Prepared for Abu Sayef Md. Muntaquimul Bari Chowdhuri Lecturer, Department of Management Studies Faculty of Business Studies Jahagirnagor University Prepared By: Md. Abu Rukana (Std. ID: 2011 3 122 ) Md. Hemayetul Islam (Std. ID: 2011 3 022) Mohammad Khalilur Rahman(Std. ID: 20122394) Ziasmin Akter (Std. ID: 20113286) Content…….. 1. 2. 3. 4. 5. 6. 7. Synopsis of mobile operator in BD Robi Banglalink Citycell Findings Recommendation Q/A Mobile Phone Subscribers in Bangladesh Operators Grameen Phone Ltd. (GP) Active Subscribers(Million) 39.293 Orascom Telecom Bangladesh Limited (Banglalink) 25.490 Robi Axiata Limited (Robi) Airtel Bangladesh Limited (Airtel) Pacific Bangladesh Telecom Limited (Citycell) Teletalk Bangladesh Ltd. (Teletalk) Total 19.211 6.734 1.699 1.358 93.788 Source: BRTA Website Company Overview ROBI… Axiata (Bangladesh) Limited is a dynamic and leading countrywide GSM communication solution provider It is a joint venture company between Axiata Group Berhad, Malaysia and NTT DOCOMO INC, Japan. Company Overview ROBI Cont. On 28th March, 2010 the company started its new journey with the brand name Robi. It has the widest International Roaming coverage in Bangladesh connecting 553 operators across 207 countries. Compensation plan of ROBI Salary & Benefit Monthly salary is transferred...
Words: 484 - Pages: 2
...Acknowledgment This assignment based on “General Banking Practices- A Case Study Of Dutch-Bangla Bank Limited” has been prepared for the requirement of the Bachelor of Business Administration, under the supervision and coordination of Mr. Mohammed Abu Rayhan, Department of Finance, Faculty of Business, ASA University Bangladesh. I would like to start my acknowledgment by thanking Mr. Mohammed Abu Rayhan for assigning me the topic and for his cooperation and guidance to conduct this case study. Special recognition goes to “ASA University Bangladesh” for allowing me to conduct this study and accomplish this assignment. Finally, I would like to give thanks to the Almighty Allah. Table of Contents An Introduction to Bank Dutch-Bangla Bank Limited (DBBL) started their journey by M Sahabuddin Ahmed (Founder & chairman) and the Dutch company FMO in 1995. It is the largest bank in Bangladesh by under the Bank Companies Act 1991 and incorporated as a public limited company under the Companies Act 1994 in Bangladesh with the primary objective to carry on all kinds of banking business in Bangladesh. Dutch Bangla Bank is noted to be the first and only local bank in Bangladesh to have an automated banking system. The bank has spent over Tk. 1 Billion in automation upgrades (first bank in Bangladesh to do so). This automation took place in 2003 whereby services of the bank were available uniformly though any branch, ATM and internet. Banking was a paper based until DBBL, with its...
Words: 1648 - Pages: 7
...Argumentative Essay: Advantages and Disadvantages of Using the Internet Essay topic: Argumentative Essay: Advantages and Disadvantages of Using the Internet Nowadays, the Internet is growing rapidly. Many people open Internet because it assists a lot of benefits for them. However, many people become victims after accessing the internet. In this essay, I will discuss the benefits and dangers of the internet. The internet has many benefits. One of these benefits of Internet is it is the medium of communication. There are many facilities on the internet helps us to communicate each other such as E-mail, Facebook, Twitter and others. All these facilities enable people to communicate with other people from different countries around the world so that it can explore other cultures of different ethnicity. Also, Internet is a medium of information. Today, a lot of people need the information from the internet. Because every second on the internet, updates the information required by humans. For instance, Google and Yahoo are search engine information on the internet that provide all kinds of topics the information we need. Furthermore, Internet is a medium of entertainment. Internet becomes successful because it provides a lot of entertainment that humans need. For example, today many people are watching or downloading free entertainment on the internet, and many people are playing on-line games. In contrary, the internet has a lot of disadvantages. The fact of the matter is that...
Words: 2298 - Pages: 10