e banking, internet banking and all services
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eBanking, Internet banking and all servicesTRANSCRIPT
E-BANKIN
G, INTE
RNET
BANKING A
ND ALL
SERVICES
Computers are used in banks for a variety of reasons.
They help bank personnel operate more efficiently and
effectively. Computers are used to track certain
transactions and they help process other customer
information as well. Without computers, it would be very
hard for a bank to offer good customer service day in and
day out. Computers help a bank save time and money,
and can be used as an aid to generate profits.
APPLICATION OF COMPUTER IN BANK:
• Automated Teller Machine (ATM)
• Cash Depositing Machine
• Green channel
• Mobile Banking
• Internet Banking
• Core Banking System
Automated Teller Machine (ATM)
• ATM is an electronic telecommunication device that enables
the customers of a financial institution to perform financial
transactions without the need for a human cashier, or clerk.
• On most modern ATMs, the customer is identified by
inserting a plastic ATM card with a magnetic stripe or a
plastic smart card with a chip that contains a unique card
number and some security information such as an
expiration date or CVV (Card Verification Value)..
ADVANTAGES
• ATM offer the convenience of multiple locations
• You don’t have to carry cash around with you
• You can use it to pay some retail shops
• You can withdraw cash at any time, day or night .The
banks don’t need to be open
• ATMs are faster than going to the bank-no long time
DISADVANTAGES
• ATM may be off-line(system down)
• You may be forget your PIN number
• Training is needed
• Chances of robbery & Virus
Cash Deposit Machine
Cash Deposit Machine (CDM) is self-service terminal that enables you to deposit cash without any manual intervention of the branch officer.
SERVICES
• Cash Deposits
• Balance Enquiry
• Viewing of previous bank transactions
FEATURES & BENEFITS
• Instant credit in your account.
• Immediate receipt
• No need to fill cash deposit slips
• No need to stand in long queues at the cash counter
• No need to sort and arrange cash denomination wise
• To use the CDM, you simply need to have Bank Debit Card or know the Bank’s account number in which you wish to deposit the money
DEPOSIT IN ACCOUNT USING DEBIT CARD:1. Insert debit card and enter PIN for validation
2. Select account type (Saving, Current/ OD)
3. Place the money in the cash deposit slot and click “Continue”
4. Machine will sort the cash and will show denomination-wise amount to be deposited
5. If correct, click “Deposit”
6. Amount will be deposited and will be instantly credited to the account
7. Receipt will be generated
Green Channel CounterGreen Channel Counter is an innovative
step towards paperless ‘Green Banking’
for deposit, withdrawal and funds
transfers within the Bank. The customer
need not fill up any pay-in slip or draw
cheques for depositing or withdrawing
money from their accounts. The
customer should bring his / her ATM
cum Debit Card and remember his / her
PIN (Personal Identification Number).
SERVICES
• Cash deposits
• Cash Withdrawals
• Fund Transfer
FEATURES & BENEFITS• At the Green Channel Counter, there is a Transaction
Processing Device (similar to Point of Sale Machine) available at the Single Window Operator (SWO).
• Paper less work
• There is no need to remember the 11 digit account number or carry passbook. Only the ATM cum Debit Card and PIN are needed.
• Customer can use the Green Channel Counter without standing in queue and without taking the token. He / She may simply walk up to the Counter, Swipe their ATM card and execute the transaction.
• Can transact up to Rs.40,000/- per transaction and no limit on number of transactions.
• Odd amount (in round rupees) transactions are possible.
Mobile Banking Mobile banking is a system that allows customers of a financial
institution to conduct a number of financial transactions through a
mobile device such as a mobile phone or tablet.
The earliest mobile banking services were offered over SMS, a
service known as SMS banking. With the introduction of smart
phones with WAP support enabling the use of the mobile web in
1999, the first European banks started to offer mobile banking on
this platform to their customers.
In one academic model, mobile banking is defined as:
Mobile Banking refers to provision and ailment of
banking- and financial services with the help of
mobile telecommunication devices. The scope of
offered services may include facilities to conduct
bank and stock market transactions, to administer
accounts and to access customized information.“
ADVANTAGES• It utilizes the mobile connectivity of telecom operators
and therefore does not require an internet connection.
• With mobile banking, users of mobile phones can perform several financial functions conveniently and securely from their mobile.
• You can check your account balance, review recent transaction, transfer funds, pay bills, locate ATMs, deposit cheques, manage investments, etc.
• Mobile banking is available round the clock 24/7/365, it is easy and convenient and an ideal choice for accessing financial services for most mobile phone owners in the rural areas.
• Mobile banking is said to be even more secure than online/internet banking
DISADVANTAGES
• Mobile banking users are at risk of receiving fake SMS messages and scams.
• The loss of a person’s mobile device often means that criminals can gain access to your mobile banking PIN and other sensitive information.
• Modern mobile devices like Smartphone and tablets are better suited for mobile banking than old models of mobile phones and devices.
• Regular users of mobile banking over time can accumulate significant charges from their banks
FUTURE FUNCTIONALITIES IN MOBILE BANKING
Based on the 'International Review of Business Research Papers' from World business Institute, Australia, following are the key functional trends possible in world of Mobile Banking; With the advent of technology and increasing use of smartphone and
tablet based devices, the use of Mobile Banking functionality would enable customer connect across entire customer life cycle .
current mobile banking objectives of say building relationships, reducing cost, achieving new revenue stream will transform to enable new objectives targeting higher level goals such as building brand of the banking organization.
Emerging technology and functionalities would enable to create new ways of lead generation, prospecting as well as developing deep customer relationship and mobile banking world would achieve superior customer experience with bi-directional communications.
Internet banking is a term used to describe the process where a
client executes banking transactions by electronic means. This
kind of banking eradicates the necessity of physical movement
to financial positions. This type of banking uses the internet as
the chief medium of delivery by which banking activities are
executed.
Internet Banking
CLASSIFICATION OF THE ACTIVITIES
Non-transactional• Account balance viewing
• Viewing of previous bank transactions
• Bank statement downloading
• Viewing of images of paid cheques
• M banking and E banking applications downloading
• Provision of account/ bank statements
Transactional• Electronic funds transfer
• Bill payments and wire transfers
• Loan application and repayments
• Buying investment products
ADVANTAGES
• Convenience – Banks that offer internet banking are open for business transactions anywhere. services are available 24 hours a day and 365 days round the year.
• At the touch of a button, actual time account balances and information are availed.
• Online banking allows for easier updating and maintaining of direct accounts.
• Transfer services – Online banking allows automatic funding of accounts from long established bank accounts via electronic funds transfers.
• Ease of monitoring – A client can monitor his/her spending via a virtual wallet through certain banks and applications and enable payments.
• Ease of transaction – the speed of transaction is faster relative to use of ATM’s or customary banking.
• Through Internet banking, you can keep an eye on your transactions and account balance all the time.
• It also acts as a great medium for the banks to endorse their products and services. The services include loans, investment options, and many others.
DISADVANTAGES• Complex encryption software is used to protect account
information. However, there are no perfect systems. Accounts are prone to hacking attacks, malware and illegal activities.
• Learning – Banks with complicated sites can be difficult to navigate and may require one to read through tutorials to navigate them.
• Transaction problems – face to face meeting is better in handling complex transactions and problems.
• Understanding the usage of internet banking might be difficult for a beginner at the first go. Though there are some sites which offer a demo on how to access online accounts, but not all banks offer this facility. So, a person who is new, might face some difficulty.
• You cannot have access to online banking if you don’t have an internet connection; thus without the availability of internet access, it may not be useful.
• Password security is a must. After receiving your password, do change it and memorize it otherwise your account may be misused by someone who gets to know your password inadvertently.
• You cannot use it, in case, the bank’s server is down.
• Another issue is that sometimes it becomes difficult to note whether your transaction was successful or not.
Core BankingCore Banking is a banking
service provided by a group of
networked bank branches
where a customer may access
their bank account and
perform basic transactions
from any of the member
branch office.
CENTRALIZED ONLINE REAL-TIME ELECTRONIC BANKING
Computer software is developed to perform various core
operations of banking like recording transactions, passbook
maintenance interest calculations on loans and deposits,
customer records, balance of payments and withdrawals.
ADVANTAGES
o Reduction in Transaction time
o Minimum Chance of Mistake
o Customer can have anywhere, more convenient and easier banking.
o Can reduce the manpower, and that can be utilize in marketing etc.
o Instant Information availability for decision support
o Quick and Efficient implementation of information.
o ATM, Mobile Banking, Internet Banking etc.
DISADVANTAGES
o Excessive reliance on Technology.
o Any Failure in computer system can cause entire network to go down.
o If data is not protected properly and if proper care is not taken, hackers can gain access to the sensitive data.
THANK YO
U.