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 that electronic banking has been a relatively new concept ***** ***** it will soon take over or complement numerous means of deliverance of retail *****. ***** 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 ***** f***** presenting and payment of bills, buying as well as selling securities, moving funds, along with offering additional financial services and products.

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

***** 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. *****s 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 along with their ***** websites. Only a small number of ***** and thrifts have completely ab*****oned physical branches in favor ***** a pure pl*****y Internet business strategy, relying exclusively on transactional websites ***** deliver banking *****. 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 s*****gle digits. Various surveys report that Internet -only banks ***** captured less ***** 5 percent of the U.S. online banking *****, and less than 1 percent of 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 business ***** provide financial in*****mation to their customers. Furthermore, the ***** has made it realistic for both customers as well ***** suppliers to come together to communicate vital business information.

***** the fact that Internet banking can offer an extensive variety of fin*****cial services, they have several drawbacks ***** compared ***** traditional banks when 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, *****tter, as well as cheaper ***** traditional banking. Quicker/better/***** has turned out to be the tune of "Internet Banking," while anything, anytime, anyw***** has turned out to be the song of the clients. Many analysts

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