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Internet Banking PDF

Internet banking allows individuals to perform banking activities from home via the internet. It began developing in the 1980s and Stanford Federal Credit Union was the first to offer online banking services in 1994. ICICI Bank was the first in India to offer internet banking in 1997. Online banking provides benefits like convenience, lower costs, and accessibility but also poses security and fraud risks that need to be addressed. It has now become widespread with many traditional banks and online-only banks offering these services.

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300 views19 pages

Internet Banking PDF

Internet banking allows individuals to perform banking activities from home via the internet. It began developing in the 1980s and Stanford Federal Credit Union was the first to offer online banking services in 1994. ICICI Bank was the first in India to offer internet banking in 1997. Online banking provides benefits like convenience, lower costs, and accessibility but also poses security and fraud risks that need to be addressed. It has now become widespread with many traditional banks and online-only banks offering these services.

Uploaded by

Jadhav Nikita
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Internet Banking

{
Index
 Introduction
 History of E-Banking
 E-Banking in India
 Development of E-Banking
 What is an E-Banking?
 What is an E-Bank?
 Services provided under E-
Banking
 Advantages of E-Banking
 Disadvantages of E-Banking
 Security Risk of E-Banking
 Limitation
 Online Banking Frauds
 E-Banking Examples
 Conclusion
Introduction
 E-Banking or Electronic Banking is a major
innovation in the field of Banking.

 A system allowing individuals to perform


banking activities at home, via the internet.

 Earlier Banking was conducted in a very


traditional manner, there were no such
innovations.

 Information revolution led to the evolution of


internet ,which lead to E-Commerce continued
by evolution of E-Banking.

 The automated delivery of new and traditional


banking products and services directly to
customers through electronic, interactive
communication channels.

 Some online banks are traditional banks which


also offer online banking, while others are
online only and have no physical presence.
History of E-Banking
 E-Banking History dates back to 1980s.

 The term online became popular in the late '80s and


referred to the use of a terminal, keyboard and TV (or
monitor) to access the banking system using a phone
Line

 Stanford federal credit union was the first who offer


online internet banking services to all of its members in
1994.

 Later on snapped up by other banks like


Well Fargo, Chase Manhattan and Security First Bank.
E-Banking in India

 ICICI was the first bank to initiate the Internet


banking revolution in India as early as 1997under the
brand name 'Infinity‘.

 ICICI Bank kicked off online banking way


back in 1996 .

 But even for the Internet as a whole, 1996 to 1998


marked the adoption phase

 while usage increased only in 1999-due to lower ISP


online charges, increased PC penetration and a
tech-friendly atmosphere
Development of E-Banking

 The service was developed by Stanford Federal Credit


union, which is a financial institution

 The concept of Internet banking has been simultaneously


evolving with the development of the world wide web.

 Programmers working on banking data bases came up with


ideas for online banking transactions, some time during the
1980's.

 The online shopping promoted the use of credit cards


through Internet.

 The first online banking service in United States was


introduced, in October 1994.
Services provided under E-Banking
Advantages of E-Banking

 Round the clock banking.

User friendly

Low cost

Portable banking

Quality banking

Speed banking

Benefits for Banks

Benefits for Small to Medium Businesses

Benefits for Customers


Disadvantages of E-Banking
Security and Risk of E-Banking
Limitations
Online banking frauds
Example of E-Banking
Internet Banking in SBI
Internet Banking In ICICI
Internet Banking in AXIS
Conclusion

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