...STRATEGY–CMH520 | GROUP WORK | JENNIFER KIUGUEVANS ODERO 1009983E-Banking"Discuss E-banking". | Table of Contents 1. INTRODUCTION 2 2. History of E-Banking 3 3. Forms of e-banking 4 i. Automated Teller Machines (ATM): 4 ii. Mobile/SMS Banking: 4 iii. Smart Card/Debit Card: 5 iv. Internet Banking/ Online Banking: 5 v. Self Service PC Banking: 6 4. Why the drive towards e-banking 7 REFERENCES 11 1. INTRODUCTION E-banking is defined as a fully automatic service for traditionally banking customer’s products based on information technology platforms. E-banking services provide customer access to accounts, the ability to move their money between different accounts or making payments via e-channels. The advantages generated by this services have determined an accelerate developing of this industry over the entire world. E-banking relies heavily on information and communication technology (ICT) to achieve its promise for 24 hours availability, low error rates and quicker delivery of financial services Initially, e-banking was limited to phone banking operations and remote banking, but the range of services has increased thanks to the technological advances, the spread of online banking has coincided with the spread of high-speed broad and connections and the increasing maturation of the internet user population. 'Electronic Banking is the use of a computer to retrieve and process banking data and to initiate transactions directly with bank via a telecommunications...
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...Awareness of Electronic Banking in Pakistan 1 AWARENESS OF ELECTRONIC BANKING IN PAKISTAN Awareness of Electronic Banking in Pakistan Nouman Anwar Dar MCB Bank Limited Proceedings of 2nd International Conference on Business Management (ISBN: 978-969-9368-06-6) Awareness of Electronic Banking in Pakistan 2 Abstract Electronic Banking is an essential sector of banking industry. E-banking services are gaining the attention of conventional banking’s customers rapidly. It has brought the revolutionary changes in the Pakistan banking industry in terms of customer and business perspectives. Electronic banking has got popularity in the developed as well as developing countries because it saves people time, reduces costs and people have access to all banking services on the click of a button. More often, the new innovated system allows the customers to touch their accounts at home using a mobile device or electronic terminals. This research paper focuses on growth and awareness of electronic banking in Pakistan. Electronic banking is today’s need as it provides easy way to monitor an account. Most of the commercial banks in the country switched to the convenience ways in accessing the accounts of the customers and giving them the freedom for the easy access. “The volume of e-banking transactions reached 125.9 million while the value of these transactions aggregated to Rs 12 trillion showing an increase of 15.5 percent and 19.0 percent respectively as compared to the...
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...a great pleasure for me to put on records my appreciation and gratitude towards Mrs. Vandana Bharti (A.H.O.D. of M.B.A. Department) for his encouragement towards preparation of this report. I would like to express my deep sense of gratitude to prof. Preeti singh for giving me valuable suggestion and encouragement. I offer heart felt thank to my Parents, Brothers and all my friends for their moral support and inspiration Shilpa Senger Contents INTRODUCTION 5 Objective: 6 Project Intention: 6 EMERGENCE OF EBANKING 6 DEFINATION OF E –BANKING: 6 CHARECTERISTIC OF E- BANKING: 7 COMMON E- BANKING SERVICE 7 Potential areas where e-Banking can be used :- 8 E- BANKING...
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...you do not want to go out. Furthermore, the widespread use of the Internet has opened new areas of jobs in all countries and expanded the availabilities of working from home. Last, the Internet is one of the most valuable tools in educations since it provides an enormous amount of information and is the greatest source of reference for educators and students. The electronic libraries are of utmost importance for University students looking for scientific information for their courses. Another major benefit of the internet is its ability to minimize distances and provide communication services efficiently and without any cost. In general, the Internet is a multi-tool with applications on every aspect of someone’s life.THE INTERNET (R) EVOLUTION The available material, programs, websites and other services of the internet are multiplied every day, revolutionizing the technology being used. Its applications grow exponentially and it would be impossible to outline everything in this booklet. The most important aspect of...
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...relationships through marketing efforts and free mobile banking. While mobile banking provides a convenience for consumers, it can be expensive for the organization. Thus, Bank of America must decide whether or not it would like to advance with technology or keep their progress to a minimum. It would be wise for the organization to keep up with technology and provide services to the consumer that they may be able to find elsewhere. Bank of America must prove that they are a dependable organization and worthy of the consumers business in order to remain a top organization in their industry. Identification of the strategic issues and problems: Bank of America has been a top financial organization for some time with services such as retail banking, investment banking, and opportunities for small businesses. With the evolution of the smartphone and consumers constantly on the go the demand for mobile banking has increased excessively. Consumers would like the convenience of checking their balance while being able to transfer funds on quick notice. The underlying issues and problems that Bank of America faces are two fold. First, the organization needs to decide whether to continue advancing with technology to provide mobile banking to their consumers. This means large added costs and dependence on consumer usage. Next, Bank of America must earn the trust of the consumers and then convert them from on-site or online bankers, to mobile bankers with the use of banks...
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...payment service provider in Bangladesh! CONFIDENTIAL Aiaze Mitha, Neu-Anspach, 20 November 2013 Bangladesh Demographics Population 160 m Financial Access Banking Penetration ONLY 14% Telco Penetration 60% ( 96 m ) Banglalink(45m), Grameenphone(40m), Robi(31m), Airtel(17m) etc Need for Mobile Money • Agro based economy , need to Improve access to financial services • Significant domestic and international remittances • A service that can be linked to microfinance CONFIDENTIAL 2 Overview Description Partners A Joint Venture of BRAC Bank and Money in Motion of the USA was launched in July, 2011, dedicated to serve the unbanked. BRAC (Bank) Money In Motion(Technology) Seg1 – 60 millions do not have banking access but have mobile phones . 83% population lives on less than $2 a day. Target Consumer Segments Seg2 - Transfer Money – $ 64 b (Domestic ) , $ 14 b Incoming International Remittances Seg3 – 300 MFIs, 24million borrowers ( 6million active ) CONFIDENTIAL 3 bKash – A Subsidiary of BRAC Bank BRAC Bank started its journey in 2001, Bangladesh fastest growing bank which has 86 Branches, 21 SME Service Centers, 48 SME/Krishi Branches, over 300 ATMs and 400 SME Unit offices across the country. It has disbursed over BDT 220,139 million of SME loan and has over 1,200,000 individual customers who access online banking facilities. Its services cuts across all strata of clientele, be it corporate, retail or SME. bKash Limited (a subsidiary of BRAC Bank) is a joint venture...
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...An Analysis of Internet Banking Adoption and Usage by Users in the Developing World Nishali Prasadika Ranasinghe BSB10183-3-Project Submitted to the Business School in partial fulfillment for the degree of Bachelor of Arts (Hons) in Business Management Supervised By: Fathima Nazeefa Fawzer Word Count: Table of Contents Abstract 3 Acknowledgement 4 1 Working Title 5 2 Introduction 5 2.1 Problem Statement 6 2.2 Problem Justification 6 2.3 Objectives 7 3 Literature Review 8 3.1 Determinants of internet banking usage 8 3.2 Barriers for internet banking adoption and usage 10 5 Conclusion 13 6 References 14 Abstract Similar to the adoption of automatic teller machines, banks around the world are looking at online banking services as the next technology to reduce costs while maintaining or enhancing services to the customer. In developing countries, the low cost of online banking may enable banks to reach new customers, much like the cell phone offered new possibilities in telephony. Banks must understand, however, that the mediating use of technology increases interpersonal distance between banks and their customers, which can build barriers for adoption of this technology. Hence, this critical literature review seeks to explore the internet banking adoption and usage by users in the developing world and to discover the barriers affecting internet-banking adoption within the geographic scope examined. Four factors namely, perceived usefulness and security and...
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...Impact of E-Banking on Capital Bank and local area banking industry in India Coursework- Technology in Business and Society Shahbaz Singh Samra - B022337 Executive Summary The task commissioned was to assess the application of a technology to support organizational change. This report concentrates on how electronic banking (e-banking) has contributed to Capital Local Area Bank (CLAB) and the local area banking industry in India. Focus lies upon CLAB’s operations and how the bank incorporated e-banking to revolutionize and set standards for transparent and efficient banking in the state of Punjab. E-Banking gives strategic value to the organization and the industry because it adds a new dimension to the bank to offer its products and services. It gives the organization a comparative advantage over its rivals. However, local area banks might have to suffer loss of business done through their physical branches especially in urban and more developed areas. This, however, would be a positive for CLAB as the overall business generated would be higher and it gives its customers a facility that is yet to be provided by its competitors. E-Banking t is very cost effective for the bank. A bank, in order to expand efficiently, would be better off investing in e-banking rather than expanding its customer outreach through increasing the number of physical branches. Inevitably, e-banking does have some issues and challenges than an organization would have to overcome to...
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...4. September 2010. Pp. 145 - 156 E-Banking and Customers’ Satisfaction in Bangladesh: An Analysis Jannatul Mawa Nupur* E-banking can provide speedier, faster and reliable services to the customers for which they are relatively happy. E-banking services not only can create new competitive advantages, it can improve its relationships with customers. The purpose of this research is to understand the impact of variables of e-banking on customer satisfaction in Bangladesh. The study period is from 2006 to November, 2009 because customers enjoyed the e-banking services newly during this period. Five service quality dimensions namely reliability, responsiveness, assurance, empathy, and tangibles have been established based on the SERVQUAL model and the literature review. These variables have been tested in e-banking to explore the relationship between service quality and the customer satisfaction. The data were gathered through survey interview by a structured questionnaire with 250 customers. The study shows that these factors are the core service quality dimensions for customer satisfaction in e-banking. The study also explores that reliability, responsiveness and assurance have more contribution to satisfy the customers of e-banking in Bangladesh. Key words: E-banking, Customer satisfaction, SERVQUAL Model. 1.0 Introduction Growth of Electronic banking in a country depends on many factors, such as success of internet access, new online banking features, household growth of internet...
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...ABSTRACT This report deals with “internet banking” Its scope, advantages and background ACKNOWLEDGEMENT First of all we owe dear Almighty Allah who gave us strength, knowledge and tenacity to undertake and successfully complete the report. For help in preparation of this report we also extend our gratitude to, Sir Khalid Jamil Ansari who was very cooperative, benevolent and relent throughout. In the absence of his guide lines which were very help full without it we won’t be able to prepare such a report which now is shaped as an ostensible report. Initially this report writing assignment was appeared as an arduous hindrance but the confidence he showed and the way he motivate us develop perk in us and we are finally able to complete this initially abstruse looking assignment. 1. INTRODUCTION Web Banking or Internet Banking is a term used to describe banking transactions that are performed via a secured Internet application. Web Banking transactions include such things as paying bills, transferring funds, viewing account statements and paying down loans and mortgages. Although Web Banking has been popular among young Internet-savvy people for many years, its popularity is expected to grow rapidly as Internet usage grows internationally and people discover the many advantages that it provides. Web-Banking.org provides an overview of Internet Banking. It discusses conventional and virtual banks, e-banking services, Internet security and the cost/benefit considerations...
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...Applications ISSN 2224-5758 (print) ISSN 2224-896X (online) Vol 1, No.6, 2011 www.iiste.org Problems and prospects of mobile banking in Bangladesh S.M. Sohel Ahmed (Corresponding author) Lalmatia Mohila College Lalmatia, Dhaka-1207, Bangladesh. E-mail: smsohelahmed@gmail.com Shah Johir Rayhan Sher-e-Bangla Agricultural University Sher-e-Bangla Nagar, Dhaka-1207, Bangladesh. E-mail: johir_rayhan2006@yahoo.com Md. Ariful Islam Regional Statistical Officer Dinajpur, Bangladesh. Samina Mahjabin Department of Management & Finance Sher-e-Bangla Agricultural University Sher-e-Bangla Nagar, Dhaka-1207, Bangladesh Abstract The main objective of the study is to find out the problem and prospect of mobile banking in Bangladesh. For this research primary data were used. This study adopts with descriptive in nature. Total respondents were 120 within that 61 % respondents think it saves time than traditional banking, the highest number of respondents use mobile banking for ‘Air-time top-up’ service, that is 21%, out of 120 respondents 56% replied it is less costlier than traditional banking, 100% respondents did agree that it is speedy, and 38% respondents are upper class. Although this concept is new in Bangladesh but its potentiality is high. From this research, other researchers and policy makers will get an insight about the problems and prospects of mobile banking in Bangladesh. Key words: Problem, prospect, Mobile banking. 1. INTRODUCTION E-business has been continuously growing...
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...JOURNAL OF COMPUTER SCIENCE AND ENGINEERING, VOLUME 7, ISSUE 2, JUNE 2011 63 The Impact of Information Technology in Nigeria’s Banking Industry 1 Oluwagbemi Oluwatolani 2Abah Joshua and 3Achimugu Philip Abstract-Today, information technology (IT) has become a key element in economic development and a backbone of knowledgebased economies in terms of operations, quality delivery of services and productivity of services. Therefore, taking advantage of information technologies (IT) is an increasing challenge for developing countries. There is now growing evidence that Knowledgedriven innovation is a decisive factor in the competitiveness of nations, industries, organizations and firms. Organizations like the banking sector have benefited substantially from e-banking, which is one among the IT applications for strengthening the competitiveness. This paper presents the current trend in the application of IT in the banking industries in Nigeria and gives an insight into how quality banking has been enhanced via IT. The paper further reveals that the deployment of IT facilities in the Nigerian Banking industry has brought about fundamental changes in the content and quality of banking business in the country. This analysis and clarification of how Nigerian Banks have used IT to reengineer their operations is detailed through literature review and observation. Three categories of variables that relate to the use and implementation of information technology devices were considered...
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...Evolution of electronic banking started with the use of automatic teller machines (ATMs) and has included telephone banking, direct bill payments, electronic fund transfer and online banking. Many forecast that online banking will continue to be the most popular method for future electronic financial transactions. On the other hand, Mobile Banking refers to provision and availability of banking and financial services with the help of mobile telecommunication devices. The scope of offered services may include banking transactions, administering of accounts and access to customized information. Fast expanding mobile telephony in Bangladesh has opened up windows of opportunity for creative partnerships of banks and mobile telephone companies in devising cost effective arrangements for delivery of financial services. Bangladesh Bank (BB) has been encouraging such bank-led partnerships which will bring win-win cases for all concerned. A number of such BB approved partnerships are already active and you know that BB has already issued guidelines for mobile financial services to facilitate mobile banking in Bangladesh. Ours is a bank led model where only banks are allowed to lead the mobile financial services. This model is offering an alternative to conventional branch-based banking to the customers through appointed agents being facilitated by the MNOs/Solution Providers instead of bank branches or through bank employees. Agent banking with bio-metric security measures and the...
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...Statement BofA launched mobile banking in May2007, to allow customer to access the bank through mobile application and through mobile web on their phone browser. In less than three years BofA had around 4 million mobile banking customers at an adoption rates five to eight times that of the online banking. Because of this success, the line-of-business managers like mortgages and credit cards were asking for more upgrades to leverage the mobile platform. This request created a dilemma for the BofA management as adding more feature to the existing app will make the bank’s mobile app more complex. This complexity could slow down the performance of the app and negatively affect user experience. The management also noted that this kind complexity has led to some high-profile failures in the marketplace. Also, it was unclear if the users were ready to sign up and use these added features like mortgage service or credit card on their mobile phones. The other option the management was considering is, create multiple apps to target different target groups. But to follow this option the management has to reprioritize critical bank technical resources from other important business areas, such as online and ATM. These were the factors that the management needs to take into consideration while coming up with a solution. Strategic Situation Facing Management The U.S financial industry was fragmented, with thousands of banks offering retail and wholesale banking services. BofA is the largest...
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...Answers: Cash Receipt. Answers: Cash Receipt. 1. Samantha is the acting business manager executive officer – accountant of the school. 2. Main function is to report to the ball of trustees and auditor etc... 3. 3 Business is done by internet banking = Liz and Mii, and over the counter and by EFTPOS. 4. Electronic – EFTPOS/Direct credit – internet banking/Cash Register 5. Electronic is safer and people can’t take it easily – Proof – Direct Credit. 6. Electronic it’s safer/credit cards aren’t safe. 7. Every day the till will recode everything. EFTPOS machine, both equals the cash received. 8. Received a receipt = Ticket etc…Cash is very easy to abuse. 9. Till tape = EFTPOS report we do cash accountant = banking and print out every day. 10. Separate the job of banking, one person entering system; two people count the money and one person entering. 11. Access is very limited, stored in a lock box inside the safe. Two people can access and one person has to key the box. Cash payment Cash payment 1. Twenty month creditor/manual payments = Tracy. 2. We must have a purchase order. Tax invoice – special stamp = area budget holder must have an invoice = glued = verified by principal. 3. They don’t do cash payment, electronic payments and Petty cash is under $40.Incorrect source documents do not received payment and verifying process = into system: cheque done again = a lot of stage it must pass through. 4. Cash is...
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