...confirmed that FIR customers were generally typical of internet banking customers. Most had high speed internet connections, were men, and were in medium to high socioeconomic categories and many were in technical occupations. In general the open ended questions support three main points, The potential users still have a need for traditional banking services. One of them being mail deposits, another is access to a local ATM. Security is a concern even among sophisticated users. (Respondents 3 and 137) The big concern is the lack of security with the customers receiving phishing-type emails from hackers which can lead to identity theft. There is also a concern to small businesses that they do not have a big enough protection policy when it comes to identity theft/hackers. The existing user base is happy with the convenience and the quality of service. Based on the surveys, the respondents believe FIR is simple and easy to use when viewing and paying bills. 2. What customer segments are targeted by FIR? On what issues should FIR focus in order to build relationships with its varied customer segments? The customer segments that are targeted by FIR are customers who are innovation-minded, busy and technologically advanced. This assessment is generally supported by the survey date and their success. Additionally a 2004 survey found that customers were generally more experienced in using the internet, male and higher socioeconomic status. The case gives...
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...www.ResearchPaperWriter.net The Internet and availability of information Introduction Information technology has changed the very face of organizations from their traditional time-consuming internal and external settings to robust applications of Information Systems. In fact, the structure of an organization is represented in any industry through its Information Systems, be it retailing companies, military establishments or b2b solutions. For example, in medium and big retailing companies, there are multi-tier structures, which include industrial production, wholesalers, retailers and consumers as well along with intermediate stores, which require an integrated information system. Information is one of the assets of an organization. Raw data until processed has no value in a business structure to be used in the best interests of the organization. With the advent of information technologies that raw data is gathered, stored, processed and disseminated to become an integral part of the organizations’ processes. An information system links together data inputs, processes, and information outputs in a systematic, structured way. With the use of technology, information processes are used to further the operations and management of an organization (Ward 1995). With the help of internet and usage of technology, information can be accessed and made available with the click of the mouse. By using the electronic means like the Internet, the email and other electronic means of communication...
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...Applications (g) applications in banking (including Electronic Funds Transfer (EFT), ATMs for cash withdrawals and bill paying, credit/debit cards, cheque clearing, phone banking, internet banking) Discuss the advantages and disadvantages to your choice of application. Generate a conclusion from your discussion that makes use of the learning objectives (as seen in the Moodle). With technology nowadays, banking online has been made possible. It has become a much more quicker and efficient way to exchange payments and handle bills through networks. There are many different examples of electric banking applications, such as ATMS, for cash withdrawals and bill paying. There is also the use of credit cards, debit cards to pay without using cash. Cheques can also be used; it is an easier way. There is a code at the bottom, which can be scanned. Phone banking is where people manage their financial payments by talking to a banker through a phone, telling them their credit card information to purchase what they want. ATM stands for an ‘automated teller machine’. It is an electrical device that allows normal people to do financial transactions without interacting with a cashier. It is very convenient for people as they are able to withdraw funds or deposit funds from anywhere without traveling all the way to a bank. Customers using ATMS need to insert their personal identification number to access their account. This is a safe and secure way of withdrawing and depositing payments. Credit...
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...Negative Impacts of Technology in Banking Sector The term “banking technology” refers to the use of sophisticated information and communicationtechnologies together with computer science to enable banks to offer better services to itscustomers in a secure, reliable, and affordable manner, and sustain competitive advantage over other banks. In the five decades since independence, banking in India has evolved through four distinct phases. During Fourth phase, also called as Reform Phase, Recommendations of the Narasimham Committee (1991) paved the way for the reform phase in the banking. Importantinitiatives with regard to the reform of the banking system were taken in this phase. Importantamong these have been introduction of new accounting and prudential norms relating to incomerecognition, provisioning and capital adequacy, deregulation of interest rates & easing of normsfor entry in the field of banking.Entry of new banks resulted in a paradigm shift in the ways of banking in India. The growingcompetition, growing expectations led to increased awareness amongst banks on the role andimportance of technology in banking. The arrival of foreign and private banks with their superior state-of-the-art technology-based services pushed Indian Banks also to follow suit by going infor the latest technologies so as to meet the threat of competition and retain their customer base.Indian banking industry, today is in the midst of an IT revolution. A combination of regulatoryand competitive...
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...with their privacy more than ever. With the advancement of technology privacy is the biggest concern of many users. The internet is used daily by billion of users nationwide. For that reason, the internet has challenged many business owners for the responsibility of making sure their sites are secured for users to make purchases or share information. Data is the information transferred between a site and a user. The information may be personal and sometimes require a login. Most sites are secured so users feel much more secured with giving information such as date of birth, address, and social security number at times. Data security is the information that is personal that people usually only feel comfortable sharing with a reliable source. This information is usually stored in a database that requires that a company is responsible for information saved or shared. Earlier times personal information was usually stored in a fireproof box possibly somewhere in the house or a safe location. However, with the advancement of technology many have shared information through different application downloads and even through the ability to make a purchase or access a site. The information is unique and many people don’t feel comfortable sharing unless it’s a reliable source. So often, it is common that people go through identity theft. In the earlier stages of Internet, most information was hacked through email spams. The hackers used to send information through either an attachment or...
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...and the Other Departments within Banks DIH and Edward B. Beharry. Name of Candidate: Khajal Parasnath Candidate Number: Centre Name: Queen’s College Centre Number: 090041 Territory: Guyana Name of Teacher: Mr. Bernard Table of Contents Content Page Number Criteria One (1) - Presentation * Title of Project 4 * Aims of Project 5 * Functions of the Departments in both Banks DIH and Edward B. Beharry 6 Criteria Two (2) - Gathering of Data * Methodology 9 * Five Questions Asked of Personnel from the Firms 14 * Schedule of Activities 15 * Regulations and Policies Governing the Firms 17 Criteria Three (3) – Presentation * Report 19 * Impact of Office Equipment 22 Bibliography 23 CRITERIA ONE (1) - PRESENTATION TITLE OF PROJECT: Communication between the Operations Office and the Other Departments within Banks DIH and Edward B. Beharry AIMS OF PROJECT Based on the topic of “Communications and Operations, Despatch and Transport Services”, an investigation was carried out in two (2) firms; namely Banks DIH and Edward B. Beharry. The intentions of the project were to: * Identify the types of communication used between the Operations Office and Other Departments within Banks DIH and Edward B. Beharry. * Investigate the barriers to communication between the Operations Office and Other Departments within Banks DIH and Edward B. Beharry. * Determine...
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...balance. To today where accountants need to know their technology, companies are increasingly moving away from paper documentation to keeping everything on the computer. Technology has changed in the way companies compute and file taxes. Companies can purchase tax software to compute the total or the accounting software they use has add on packs that will take what information that has been entered the general ledger and compute the amounts that are owed. Using a tax program allows the preparer to either print out a return or file it electronically. Tax preparers have changed over time from filling out paper documents to entering everything online. To paying the IRS through online banking or receiving a return electronically into a bank account. The IRS introduced electronic filing in 1986. Electron filing has help cut costs from handling paper returns, and save time to inputting the tax returns into the system and preventing mistakes. Tax preparers have the IRS web site to look up new laws from year to year to help clients use the new law s to benefit them. The can use the search function to find answers quickly. Payroll has also been change by technology. Instead of a paper a time card you log into a computer and with a user’s name and a click of a button you can clock in, and then again clock out at the end of the day. This information can go directly to payroll without having to collect time cards. Computer programs can calculate the hours take the information...
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...commercial banks in coordination with wireless technology providers particularly SMART Communications, Inc. MBS allows subscribers to manage their enrolled accounts using the Smart Mobile Banking Menu. In partnerships with banks and bank networks, MBS is offered as an alternative delivery channel to enable both SMART and BANK customers to perform financial transactions and card management using a mobile phone. Through this service, subscribers are allowed to access and manage their enrolled accounts. Banking Services via Landline Telephones Built into the services provided by the three major networks providing online services to their members is the use of standard telephones for those without internet and wireless system access. Telephone banking times are usually longer than branch opening times, and some financial institutions offer the service on a 24-hour basis. The types of financial transactions which a customer may transact through telephone banking include obtaining account balances and list of latest transactions, electronic bill payments, and funds transfers between a customer's or another's accounts. From the bank's point of view, telephone banking minimizes the cost of handling transactions by reducing the need for customers to visit a bank branch for non-cash withdrawal and deposit transactions. Web Content Index among Commercial Banks To have a notion about the level of digital consciousness among commercial banks, websites of commercial banks were...
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...with their privacy more than ever. With the advancement of technology privacy is the biggest concern of many users. The internet is used daily by billion of users nationwide. For that reason, the internet has challenged many business owners for the responsibility of making sure their sites are secured for users to make purchases or share information. Data is the information transferred between a site and a user. The information may be personal and sometimes require a login. Most sites are secured so users feel much more secured with giving information such as date of birth, address, and social security number at times. Data security is the information that is personal that people usually only feel comfortable sharing with a reliable source. This information is usually stored in a database that requires that a company is responsible for information saved or shared. Earlier times personal information was usually stored in a fireproof box possibly somewhere in the house or a safe location. However, with the advancement of technology many have shared information through different application downloads and even through the ability to make a purchase or access a site. The information is unique and many people don’t feel comfortable sharing unless it’s a reliable source. So often, it is common that people go through identity theft. In the earlier stages of Internet, most information was hacked through email spams. The hackers used to send information through either an attachment...
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...Recruiting Employees Georgette Hodson Small Business Management – 3 Entrepreneurial businesses are attractive employers for workers for many reasons. With this in mind, consider how you could recruit and choose employees. First, imagine that you are a small business owner. Next, describe three sources you could use for recruiting employees. The reason I enrolled in school is because I plan to open my own business. The business I plan on is a hotel with a possible entertainment venue attached. Some of the resources I would use to recruit reliable employees are Current employees Advancing somebody from inside the organization keeps representative resolve high, yet little entrepreneurs ought to take this methodology just if the individual meets the occupation particulars. Keeping in mind the end goal to encourage procuring from inside, numerous organizations keep up an abilities bank on current representatives, post sees about employment opportunities and urge workers to apply, and join apprenticeship programs into worker preparing. Employing from inside might be troublesome when there is a squeezing need to fill a position and the required ability does not exist in-house. Besides, it is a smart thought for organizations to fill no less than 20 percent of employment opportunities from outside, on the grounds that untouchables have a tendency to bring new thoughts. (RECRUITING , 2016) Public Employment Agencies The U.S. Division of Labor offers work position...
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...Respondent 3 has concerns of safety and security, especially PHISHING scams. I would recommend stricter internet policies that are currently being utilized right now. Secured log in sites, the distinctive character and picture recognition applications, and the alert emails to notify you of attempted access to your account if/when it is trying to be accessed from an unknown device. Respondent 137 concerns of protection if their card is stolen and used. I would suggest the online organization offers a similar assurance benefits as a "block and concrete" bank would offer. They should remain aggressive to hold the client base. Today, online banks offer extra securities for the wellbeing of their customers naturally. I have actually needed to utilize this administration myself for an organization attempting to charge yearly for a membership that I didn't approve. After contact with the bank, I was credited back, and another card was issued...
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...starting a new business venture burns brightly in many people’s minds. The advantages of having a small online business range from lower start-up costs than brick-and-mortar operations to more streamlined administration. But successfully running an online business is far from easy. The moment a business decides to enter the online world, the very first challenge is creating a reliable website. A good designer can accomplish this, but a high-quality website is more than just visual attraction; it should also function smoothly and be designed for carrying out business. So the first issue that we faced is lack of computer expertise. We needs to possess more than a basic knowledge of the Internet to do business online. Necessary skills include knowing how to set up a website for business purposes and how to market our business online. Instead of this, we had do observation or google searching and read for relevant article or teaching materials either technology resources or visitor engagement resources. Another issue is limitations of business types. Some types of businesses may not be suited for the Internet, particularly those products involve the use of the senses. For example, if the unique selling point of our product is its pleasant aroma. After we decides to selling snacks online we just realise that we are facing this problem. So we decide to sell those famous and top selling Japanese snack for example our main products - Kit Kat, although it is not Japanese. However, Kit Kat...
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...ICICI-A Comparative Study in Pune City Dr. Priya Anand Irabatti Professor, Bharati Vidyapeeth Deemed University, Pune Abstract Online banking (or Internet banking) allows customers to conduct financial transactions on a secure website operated by their retail or virtual bank, credit union or building society. In today's demanding world, everybody needs instant banking solutions for a better lifestyle. In the current scenario, almost every bank in India has the internet banking facility. Online banking or internet banking made things much easier for the people and saves lot of time. Researches show that impact of Internet banking on cost savings, revenue growth and increased customer satisfaction on Industry is tremendous and can be a potential tool for building a sound strategy. However, it has raised many public policy issues before the banking regulators and government agencies. Interestingly, reliable and systematic information on the scope of Internet banking in Indian context is still not sufficient, particularly what it means to the consumers and the bankers. This study aims at evaluating services quality of online banking in Pune city, one of the fast growing cities of Western India. This paper mainly compares, online banking services of SBI Bank one the leading public sector bank and ICICI bank, a leading private sector bank. A structured questionnaire is administered to various target groups. Researcher mainly wants to investigate the 4 important elements of online banking...
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...1 Johannesburg OBJECTIVES The objective of the Diaspora team is as follows: · · · To provide Nigerians in Diaspora an opportunity to maintain operative accounts in FirstBank Nigeria To provide Nigerians in Diaspora with facilities to finance investments in real estate in Nigeria Provide Nigerians in Diaspora an interface for operating their accounts in First Bank and thereby bridging the geographical barriers to the delivery of banking services to Nigerians abroad. Each Diaspora customer will have an RM he/she can talk to at all times. · · · · · · To provide non-resident Nigerians with facilities for effecting domestic and international funds transfer. Offer Nigerians abroad the opportunity to build and grow their individual net worth in Nigeria through provision of investment advisory services. Grow the bank s retail customer base thereby generating a large pool of stable deposits for the bank. Grow the bank s fee income from banking transactions initiated by Nigerians in Diaspora. To prevent loss of potential Diaspora customers to competition. To give opportunity for Nigerians in the Diaspora to open Nigerian Bank accounts without being in the country. PRODUCTS BOUQUET PROFILE A. DISPORA LIABILITY PRODUCTS First Diaspora Current Account Individual (Naira) This is a...
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...Citibank's Cash and Trade Group division transformed itself into an e-business, with the strategic intent of converting traditional money management business into an e-business framework. This case discusses how Citibank is using its traditional assets and integrating Internet initiatives into its e-business strategy to create sustainable competitive advantages. Competition in the cash and trade business is becoming intense and a new breed of competent and aggressive competitors is vying for the market, including technology companies interested in B2B e-payment. Citibank is responding to the competition by continually evolving its e-business strategy--connect, transform, extend. Also looks into the challenges that Citibank e-Business Group is facing in developing a single global web platform for the corporate market. The focus is on how Citibank is developing an e-business product that would serve the highly segmented market and how to encourage these markets to use a global single platform online. At one end of the spectrum are multinationals and top-level domestic corporates that operate sophisticated treasuries, and at the other end are companies and small- and medium-size businesses that are not yet ready to upgrade and transform their systems. Question 1 Economic * At the time of the global current crisis that we still see relevance of today, it put significant downward pressure on interest rates as treasuries around the globe adjusted their rates. * Citibank revenues...
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