The need for eBanking has arisen out of growth in organizations, technological complexities, diversification and fast expansion of business. This led to an extensive use of computers and information technology, which has a remarkable influence on our economy, society and business. More specifically, the service sectors like banking, insurance, medical, entertainment, etc., make an extensive use of computer technology. Thus, the use of this technology has resulted in an increase in speed, accuracy and efficiency of operations, giving rise to productivity in the existing industry and also in the designing of new products and services in the new industries.
The commercial banks have drastically changed from the traditional business to innovative banking with an aim to uplift the socioeconomic condition of the masses. According to the traditional method of banking operations, the customer has to visit the bank in person to withdraw the cash and fund transfer, whereas in the innovative banking system, the customer need not go to the bank. These transactions are based on Internet and the customer can access the bank at any time from his office or home through PC or LAPTOP by eliminating paper-based transactions. The modern banking is tending to be more information speedy as an impact of e-revolution. Thus, the eBanking is use of technology in day-to-day transactions, by the customers to access their banking services electronically, whether it is for payment of bills, transfer of funds, retrieve information and provide services. The electronic services that are made available to the customers are through phone, personal computer, television and Internet. There are four important elements, which are collectively considered as eBanking. They are: Transforming core business, i.e., offering services, building flexible and expandable eBanking applications, running scalable, available, safe environment by providing security and leveraging knowledge and information through eBanking.
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