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 and that it will soon take over or complement numerous means of deliverance ***** 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 of 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 ***** can be utilized for retail as well as business-to-business (B2B) dealings, along with e*****ing large-dollar movements. Just as important, internet ***** h***** become 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 *****ir ***** but do not permit transactions. These would not be enclosed under the mean*****g of "Internet banking." On the other hand, web ***** that have ***** transactional ***** been considered "Internet banking."

***** banking and the Internet 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 ***** use a click and mortar business strategy, maintaining traditional networks of brick and ***** branches along with *****ir transactional websites. Only a small number of banks and thrifts have completely abandoned physical branches 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 *****ir market penetrati***** rates were in the low s*****gle digits. Various surveys report that Internet -only ***** ***** captured less ***** 5 percent of the U.S. online banking market, and ***** than 1 percent of all Internet banking customers consider an Internet ***** 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 ***** ***** in*****mation to their customers. *****, the ***** has made it realistic for both customers as well as suppliers to come ********** to communicate vital business information.

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

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