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

Internet ***** ***** be utilized for retail as well as business-to-business (B2B) dealings, along ***** e*****ing large-dollar movements. Just as important, internet ***** has *****come a global 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 ***** but do not permit transactions. ***** would not be enclosed under the mean*****g of "Internet banking." On ***** other hand, web ***** that have been transactional have been considered "Internet *****."

Electronic banking and the Internet in most cases are empowering a change in the way banks and other companies manage ***** the ***** they look upon themselves. As DeYoung (2001) reports, "Most banks and thrifts that operate over the Internet use a click and mortar business strategy, maintaining traditional networks of brick and mortar branches along with *****ir ***** websites. Only a small number ***** ***** and thrifts have completely aban*****ned physical branches in favor of a pure play Internet business *****, relying exclusively on transactional websites to deliver banking services. As of mid-year 2000, less than two dozen of these virtual banks ***** 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 *****, 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 and other financial institutions ***** started understanding and strategizing their ***** to provide financial in*****mation to their customers. *****, the Internet ***** made it realistic for both customers as well ***** suppliers to come together to communicate vital business information.

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

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