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Online banking essay pdf

online banking essay pdf

responding in and of themselves for the continued growth of demand for banking online due to customer preferences and needs. The term 'online' became popular in the late 1980s and referred to the use of a terminal, keyboard and TV (or monitor) to access the banking system using a phone line. However, financial service providers argue that the cost of restricting the use of consumer information and the costs of extensively securing this information will reduce the services that can be offered to customers, such as slower responses to loan applications. The expansion of banking thus can be seen as a process of developing financial systems which were closely linked to trade and in particular free trade. One of the straight farward way to make the banking site accessible to the hearing impaired people is to make the language simple particularly for BSL users for whom English is second it si necessary to use a simple language and the inclusion. Introduction, in recent years the various forces that are shaping the global economy, in particular processes of globalization, innovation and technological development, international money forms have had a critical bearing and role in the development of capital and securities market that have expanded rapidly. The emergence of models of banking familiar to us is associated with the rise of Italian merchant banks during the Renaissance. Therefore in order to maintain competitive advantage in financial markets banks have to keep pace with the changing nature of what constitutes the roles and functions of being such an intermediary (Bryan, 1991). Since its inception in the United States, online banking has been federally governed by the Electronic Funds Transfer Act of 1978. In 2000, using West Union as an example again, which is now owned by First Data Corporation started to offer its services over the Internet (Ridgway, 2000). This is not surprising when it is considered that technology has enabled the banking industry to innovate in terms of new ranges of financial products, distribution channels for these services and better customer relationship management systems. Hearing impaired: People with hearing impairments require visual representation of the auditory information that is in the banking website.

As a reaction to advanced security processes allowing the user to cross-check the transaction data on a secure device there are also combined attacks using malware and social engineering to persuade the user himself to transfer money to the fraudsters on the ground of false. However the emergence of a globalised economy has led to a significant re-conceptualisation of this factor, (Spong, 2002). "Importance of and Benefits of E-Banking." All Answers Ltd. Although it is assumed that the banks leading role in the home mortgage market will be reduced over time due to increased competition from non-banking institutions some insurance products however such as term insurance and long-term care insurance are expected to do well online and. Such a structure is also efficient, according to Williamson (1981 it is argued to those who are able to economise on the costs of banking services. (2000) Banking Regulation: Its Purposes, Implementation, and Effects 5th ed, Federal Reserve Bank of Kansa City. (1995) Capital Mobility, Trade and the Domestic Politics of Economic Policy, International Organisation, Vol 49 No 4 Gugler,. (1998) Risk Management in Banking, John Wiley Sons Ltd, London UK Bryan,. Details of payments to be made were input into the NBS system by the account holder via Prestel. This trend of reducing a banks physical presence can be seen in the ever increasing exhortation towards internet and online banking which occurred.

The system allowed on-line viewing of statements, bank transfers and bill payments. (1977 money and Power: Banks and the World Monetary System, Sage Publications, Inc, London. Vref1 titleImportance of and Benefits of E-Banking m dateNovember 2013 accessdate locationNottingham, UK Reference Copied to Clipboard. The facility may also enable the customer to order a cheque book, statements, report loss of credit cards, stop payment on a cheque, advise change of address and other routine actions.