Research
CHAPTER I INTRODUCTION
Electronic banking is sometimes defined as the provision of retail and small value banking products and services through electronic channels. It is also often used to describe processes in which customers can perform banking transactions without visiting a brick and mortar institution. Other innovations have taken place such as phone and internet banking which again provide customers the ability to access banking services from various locations and at a 24-hour by 7-days basis. At end-June 2004, 57 banks (41 domestic banks and 16 foreign banks) provided electronic banking services. Out of the 57 banks, 36 were universal and commercial banks (85.7 percent of the 42 operating universal and commercial banks) and 21 were thrift banks (23.6 percent of the 89 operating thrift banks). With these developments, customers are able to enjoy the many conveniences and lower costs that are offered by the said innovations. However, it can be seen that the poor and low-income segment is still underserved or do not fully enjoy the benefits of such innovations. Another example is internet banking services, which has significantly increased convenience for clients, as they are able to perform certain transactions without leaving their home or workplace. However, this service is available only to those who have internet connection or are, at the very least, computer literate. (Jimenez and Roman, 2007) East West Bank is a subsidiary of the Filinvest Development Corporation (FDC), the publicly listed holding company of the Filinvest Group that evolved from a consumer business founded by Andrew L. Gotianun, Sr. in 1955. FDC is one of the country 's premier conglomerates, with business interests in real estate development, financial and banking services and the sugar business. Through the years, East West Bank has successfully capitalized on the financial strength and synergy from the business organizations under the Filinvest Group.
Electronic banking is sometimes defined as the provision of retail and small value banking products and services through electronic channels. It is also often used to describe processes in which customers can perform banking transactions without visiting a brick and mortar institution. Other innovations have taken place such as phone and internet banking which again provide customers the ability to access banking services from various locations and at a 24-hour by 7-days basis. At end-June 2004, 57 banks (41 domestic banks and 16 foreign banks) provided electronic banking services. Out of the 57 banks, 36 were universal and commercial banks (85.7 percent of the 42 operating universal and commercial banks) and 21 were thrift banks (23.6 percent of the 89 operating thrift banks). With these developments, customers are able to enjoy the many conveniences and lower costs that are offered by the said innovations. However, it can be seen that the poor and low-income segment is still underserved or do not fully enjoy the benefits of such innovations. Another example is internet banking services, which has significantly increased convenience for clients, as they are able to perform certain transactions without leaving their home or workplace. However, this service is available only to those who have internet connection or are, at the very least, computer literate. (Jimenez and Roman, 2007) East West Bank is a subsidiary of the Filinvest Development Corporation (FDC), the publicly listed holding company of the Filinvest Group that evolved from a consumer business founded by Andrew L. Gotianun, Sr. in 1955. FDC is one of the country 's premier conglomerates, with business interests in real estate development, financial and banking services and the sugar business. Through the years, East West Bank has successfully capitalized on the financial strength and synergy from the business organizations under the Filinvest Group.
References: http://www.eastwestbanker.com https://bankard.com.ph http://www.citibank.com.ph www.ehow.com http://www.fsa.gov.uk/library/communication/speeches/2000/sp46.shtml http://bankingtopia.com/issues-in-e-banking/