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

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

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

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

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