Essay - Internet Banking Research Context Electronic or Internet Banking Has Become...

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Internet Banking

Research context

Electronic or Internet banking has become one of the fundamental phenomenon that come to mind when one ponders on the present and future of banking. The general assumptions is that electronic banking has been a relatively new concept and ***** it will soon take over ***** complement numerous means of deliverance of retail banking. The phrase electronic banking as employed here indicates any ***** interest utilized by electronic channels. It comprises automatic teller machines (ATMs), automatic call centers, digital currency, Internet banking, screen phones, etc. These means ***** deliverance can be utilized for presenting and payment of bills, buying as well as selling securities, moving funds, along with offering additional financial services and products.

Internet ***** ***** be ***** for retail as well ***** business-to-business (B2B) dealings, along with easing large-dollar movements. Just as important, internet banking has ***** a glob*****l trend. As the expression is utilized here, it compr*****es transactions. A number of institutions provide web sites that offer data in relation to their services but do not permit transactions. These would not be enclosed under the mean*****g of "Internet banking." On ***** other hand, web sites that have ***** transactional ***** been considered "Internet *****."

***** banking and the ***** in most cases are empowering a change in the way banks and other companies manage and the way they look upon themselves. As DeYoung (2001) reports, "Most banks and thrifts that operate over the Internet use a click and mortar bus*****ess strategy, maintaining traditional networks ***** brick and ***** branches ***** with *****ir transactional web*****. Only a small number of banks and ***** have completely abandoned physical ***** in favor of a pure pl*****y Internet business strategy, relying exclusively on ***** websites ***** deliver banking services. As of mid-year 2000, less than two dozen of these virtual banks and thrifts were operating in the U.S., and their market penetrati***** rates were in the low single digits. Various surveys report that Internet -only ***** ***** captured less ***** 5 percent of the U.S. online banking market, and ***** than 1 percent ***** all Internet banking customers consider an Internet -only bank or thrift to be their primary *****." Furthermore, a change is happening from perpendicular incorporation to virtual incorporation. Banks ***** other financial institutions have started understanding and strategizing their ***** to provide financial information to their customers. Furthermore, the ***** has made it realistic for both customers as well ***** suppliers to come together to communicate vital business *****.

***** the fact ***** Internet banking can offer an extensive variety of financial services, they ***** several drawbacks when comp*****d with traditional banks ***** it comes to clients making deposits as well ***** taking cash—which provokes the subject of expediency. None*****less, supporters of Internet banking maintain that it is quicker, **********, as well as cheaper than traditional banking. Quicker/better/***** has turned out ***** be the tune ***** "Internet Banking," while anything, anytime, anywhere has turned out to be the song of ***** clients. Many analysts


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