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 or 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), ***** call centers, digital currency, Internet banking, screen phones, etc. These means ***** deliverance can be utilized f***** presenting and payment of bills, buying as well ***** selling securities, moving funds, along with offering additional financial services and products.

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

Electronic banking and the ***** in most cases are empowering a ch*****nge in the way banks ***** 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 their transactional websites. Only a small number of banks ***** ***** have completely abandoned physical ***** in favor ***** a pure play Internet business *****, relying exclusively on transacti*****al websites to 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 *****ir market penetration rates were in the low single digits. Various surveys report that Internet -only ***** have captured less ***** 5 percent of the U.S. online banking *****, ***** less than 1 percent ***** all Internet banking customers consider an Internet -only bank or thrift to be their primary bank." Furthermore, a change is happening from perpendicular incorporation to virtual incorporation. Banks and other financial institutions have started underst*****ing and strategizing their business to ***** financial information to their customers. *****, the ***** ***** made it realistic for both customers as well ***** suppliers to come together to communicate vital ***** *****.

Despite the fact ***** Internet banking can offer an extensive variety of financial *****, they ***** several drawbacks ***** comp*****d with traditional banks when it comes to clients making depos*****s as well as taking c*****h—which provokes the subject of expediency. Nonetheless, supporters ***** Internet banking maintain that it is quicker, **********, as well as cheaper ***** traditional banking. Quicker/better/***** has turned out to be the tune of "Internet Banking," while anything, anytime, anywhere has ***** out to be ***** song ***** the clients. Many analysts

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