PRESENTED BY

SURESH KUMAR

ASST. PROFESSOR

PAPER PRESENTATION ON INTERNET BANKING

INTERNET BANKINGINTRODUCTION

Internet banking refers to the banking services provided by the banks over the internet

E-Banking includes:Paying of billsFund TransferViewing Account Statement

etc…

FEATURES OF INTERNET-BANKING

Removes traditional geographical barriers

Security of banking transaction

Efficient and cost effective delivery

mechanism

Enable to perform non-transactional tasks

Enable to transact banking task

TO ACCESS ON-LINE BANKING

Go to the financial institution’s website

enter the online banking facility and use

the customer number and password…

EXPERIENCE OF VARIOUS COUNTRIES AS FOR AS INTERNET BANKING IS CONCERN…

UK

Offers transactional services(through wider

range of channels)

USA

Number of financial institution with

transactional web-sites is 1275

EXPERIENCE OF VARIOUS COUNTRIES AS FOR AS INTERNET BANKING IS CONCERN…

SWEDENSwedbank was the first bank to introduce EBPP(Handles 2million bill payment a month)AUSTRALIA

Web based and through the provision of proprietary software

INDIA7% of the account holders are using E-bankingSource: Report by global management consultancy Mckinsey & company

TYPE OF RISK ASSOCIATED WITH INTERNET BANKING

OPERATIONAL RISK

SECURITY RISK

REPUTATIONAL RISK

LEGAL RISK

ADVANTAGES OF E-BANKING

CONVENIENCE

AVAILABILITY

EFFICIENT

KEEPS ACCOUNT SAFE

SERVICES

MOBILITY

DISADVANTAGES OF E-BANKINGUsage difficult for beginnerWithout internet e-banking may not usefulSecurity of transaction is big issuePassword security is a mustIncase of

loss of internet connectivityslow connectionbank server down- internet banking cannot

be useful

TIPS FOR SAFE BANKING OVER THE INTERNET Confirm that an online bank is

legitimate Read key information about the bank

posted on its Web site and protect yourself

Verify the bank’s insurance status To verify a bank’s insurance status, look for the

familiar FDIC logo

You can search for an institution by going to the FDIC’s home page at www.fdic.gov and selecting “Is My Bank Insured?”

TIPS FOR SAFE BANKING OVER THE INTERNET Learn how to safeguard your banking

information, credit card numbers, debit card pin numbers, Social Security Number and other personal data.

Where to file a complaint If you are not certain where to file your

complaint, you may contact any of the agencies listed below

Federal Deposit Insurance Corporation:www.fdic.gov/starsmailOffice of the Comptroller of the Currency (e-

mail):customer.assistance@occ.treas.gov

CONCLUSION

Internet Banking is definitely a significant

more in right direction as for as the

convenience of customer and banker are

concerned, but it must be applied with

adequate precaution to avoid falling pray to

unscrupulous elements poaching the Internet

THANK YOUHAVE A PLEASANT DAY