What Is Internet Banking
What is Internet Banking?
“Internet banking” refers to systems that enable bank customers to access accounts and general information on bank products and services through a personal computer (PC) or other intelligent device.
Internet banking products and services can include wholesale products for corporate customers as well as retail and fiduciary products for consumers. Ultimately, the products and services obtained through Internet banking may mirror products and services offered through other bank delivery channels.
Some examples of wholesale products and services include:
[pic] Cash management. [pic] Wire transfer. [pic] Automated Clearinghouse (ACH) Transactions. [pic] Bill presentment and payment.
Examples of retail and fiduciary products and services include:
[pic] Balance inquiry. [pic] Funds transfer. [pic] Downloading transaction information. [pic] Bill presentment and payment. [pic] Loan applications. [pic] Investment activity. [pic] Other value-added services.
Other Internet banking services may include providing Internet access as an Internet Service Provider (ISP). Historically, banks have used information systems technology to process checks (item processing), drive ATM machines (transaction processing), and produce reports (management information systems). In the past, the computer systems that made the information systems operate were rarely noticed by customers. Today, Web sites, electronic mail, and electronic bill presentment and payment systems are an important way for banks to reach their customers.
Numerous factors including competitive cost, customer service, and demographic considerations are motivating banks to evaluate their technology and assess their electronic commerce and Internet banking customers using online strategies. Many researchers expect rapid growth in banking products and services.
Types of Internet Banking
Understanding the
“Internet banking” refers to systems that enable bank customers to access accounts and general information on bank products and services through a personal computer (PC) or other intelligent device.
Internet banking products and services can include wholesale products for corporate customers as well as retail and fiduciary products for consumers. Ultimately, the products and services obtained through Internet banking may mirror products and services offered through other bank delivery channels.
Some examples of wholesale products and services include:
[pic] Cash management. [pic] Wire transfer. [pic] Automated Clearinghouse (ACH) Transactions. [pic] Bill presentment and payment.
Examples of retail and fiduciary products and services include:
[pic] Balance inquiry. [pic] Funds transfer. [pic] Downloading transaction information. [pic] Bill presentment and payment. [pic] Loan applications. [pic] Investment activity. [pic] Other value-added services.
Other Internet banking services may include providing Internet access as an Internet Service Provider (ISP). Historically, banks have used information systems technology to process checks (item processing), drive ATM machines (transaction processing), and produce reports (management information systems). In the past, the computer systems that made the information systems operate were rarely noticed by customers. Today, Web sites, electronic mail, and electronic bill presentment and payment systems are an important way for banks to reach their customers.
Numerous factors including competitive cost, customer service, and demographic considerations are motivating banks to evaluate their technology and assess their electronic commerce and Internet banking customers using online strategies. Many researchers expect rapid growth in banking products and services.
Types of Internet Banking
Understanding the