e-banking applications on different banks

8/7/2019 E-Banking Applications on Different Banks

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By:Sadia Ashraf

Salman Mohammad HasanUmer Farooq


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y Introductiony Traditional Bankingy Internet Bankingy Services of E-Banksy Analysis of Bank

y Meezan Banky Axis Banky Bank of Scotland

y 7C sy Functions of Banksy E-Banking Applications on Banksy Conclusion


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y E-Banking is a vast field which includes ATM, mobilebanking, online account opening, account

information, online transactions and many otherfeatures.

y Banks chosen in report:y Meezan Bank - Pakistany Axis Bank - Indiay Bank of Scotland - Great Britain


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y Online applicationsy Account Accessy Account transfersy Bill Paymenty 24/7 Customer servicey Loan status and credit card account informationy

Online forms for ordering checks, stop payment, etc.


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y Meezan Bank deployed the T24 treasury module inNovember 2005.

y It realized that it needed to replace the locally-developed

Islamic Banker system which it had been using since 1996.y The T24 model helps to reduce the implementationtime and costs , minimize customization and lower theproject risk.

y Clients using T24 for Islamic banking benefit fromadopting one core system to cover all aspects of conventional and Islamic banking. This ensures that a bankcan maintain a tight control over its operational costsand can remain focused on serving its customers in the

most appropriate and effective manner


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y Shariah Compliancey Professionalismy Service Excellencey Social Responsibility


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y More and more people are coming towards IslamicBanking System

y Introduction of Innovative Productsy New Market Segments for Ijara i.e. Home Appliance

Productsy Open new branches in Faisalabad and other small

areas


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y Axis Bank, formerly UT I Bank, is a financial services firmthat had begun operations in 1994, after the Governmentof India allowed new private banks to be established.

y The Bank was promoted jointly by the Administrator of the Specified Undertaking of the Unit Trust of India(UTI-I), Life Insurance Corporation of India (L IC),General Insurance Corporation Ltd., National InsuranceCompany Ltd., and The New India Assurance Company,The Oriental Insurance Corporation.

y The bank changed its name to Axis Bank in April 2007 toavoid confusion with other unrelated entities withsimilar name


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y Personal Bankingy Corporate Bankingy NR I y Priority Banking


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y The Bank of Scotland is a commercial and clearingbank based in Edinburgh, Scotland.

y With a history dating to the 17th century, it is the

second oldest surviving bank (the Bank of Englandhaving been established one year before ) in what isnow the United Kingdom, It was also the first bank inEurope to print its own banknotes.

y

The Bank of Scotland continues to print its ownsterling banknotes under legal arrangements whichallow some UK banks to issue currency.


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y Bank Accountsy Loansy Mortgagesy Savings Accountsy Investmentsy Travel Money


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PR IMARY Bank 1 YES/NO

Bank 2 YES/NO

Bank 3 YES/NO

SECONDARY Bank 1 YES/NO

Bank 2 YES/NO

Bank 3 YES/NO

Acceptance of Deposits

YES YES YES Acting agents No YES YES

Lending Money YES YES YES Contracting andNegotiating Loans

No YES YES

Investing Funds YES YES YES Managing issue of shares/debenture

No No YES

Rendering variousservices tocustomers

YES YES YES Carrying on business No YES YES

Credit creation YES YES YES Dealing with property inpossession

No YES YES

Remittance of Funds

YES YES YES Dealing with security No No YES

Dealing inForeign Exchange

YES YES YES Undertaking and executingtrusts

No YES YES

Dealing inSecurities

YES YES As a executor, trustee of estate

No No YES

Locker YES YES YES Managing building/worknecessary of bank

No YES YES

Promotion of banking

business

No YES YES

Bank 1 (Meezan Bank)Bank 2 (Axis Bank)

Bank 3 (Bank of Scotland)


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Features Bank 1 YES/NO

Bank 2 YES/NO

Bank 3 YES/NO

Automated Teller Machines (ATM s ) Yes Yes Yes

Electronic Funds Transfer Yes Yes Yes

Telephone Banking Yes Yes Yes

Personal Computer Banking Yes Yes Yes

Internet Banking Yes Yes Yes

Home Banking Services Yes Yes

Tele Banking Services Yes Yes Yes

Society for worldwide interbanking fasttransfers (SW IFT)

Yes Yes Yes

Electronic Data Interchange Yes Yes Yes

Digital Payment System Yes Yes YesCyber cash Yes Yes Yes

DigiCASH Yes Yes Yes

Smart Cards Yes Yes Yes

Credit Cards Yes Yes Yes


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y The internet banking web designers should developsecure and well designed websites that provide conciseand clear information about the products and services

to the online visitorsy Internet banks should regularly monitor customer scomplaints and query for enhancing customer services

y Internet banks must offer all conventional services on

the internet for attracting more customers.y The internet banks should have efficient and effective

feedback complaint management services.


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e-banking applications on different banks

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