Online Banking is a system that allows customers and banks to carry out financial transactions through internet. A big advantage of online banking is that it enables reaching online devices in far flung areas, especially rural locations. This allows
Online business banking is a kind of banking service catered for clients with online or Internet enterprise. Usually, people with online stores such as those transacting in Ebay, Craiglist or other online stores have this type of banking amenity. There are many benefits a client can get from having an Internet business banking. Despite you're miles from your bank or out of the homeland, you can still use this kind of banking account as far as you have Internet access. The top common benefits of having this type of banking account can be seen below.
Hence, it can be further implied that there is a powerful urge for banking institutions to re-orient their existing marketing strategies towards internet banking services in order to empower customers on the various benefits of internet banking. Far from having reached its pinnacle, internet banking has still a long road to travel in both research and practice in both developed and developing countries. The present study has highlighted the importance of internet banking services among banking customers in Mauritius. There is equally strong empirical evidence in the study concerning the adoption of internet banking services for a developing country like Mauritius. It is highly recommended that banking professionals emphasize on trust and security aspects when communicating the benefits of internet banking services to customers.
(2007) adds that internet offers faster delivery of information from the customer and service provider, this adding to the importance of internet banking. Internet banking has therefore become an important channel to sell banks products and services according to Christopher et al. (2006) and Singhal and Padhmanabhan, (2008). This has affected marketing practices of banks in most countries, resulting in high performance in the banking
Online payment is very important. Customers and businesses can use the credit card account to implement the payment. The overhead of a lot of people can be omitted in the Internet by using the electronic payment method. Online payment will require more reliable transmission of information security controls to prevent fraud, hacking, fraudulent and other illegal acts. Online payment will need to have the electronic finance to support, that is, the bank or credit card companies and insurance companies and other financial institutions to provide financial services to provide online services.
Through internet banking consumers can have easy access to their account wherever they are. The introduction of e-banking has brought the concept of “Anytime Anywhere Banking”. For example if a client is out of country and has a problem of money, the client is able to access his or her account from anywhere given that there is internet access. 2.10.4 Improved image Internet banking is considered as a norm for almost all banks since it is and may be a useful competition tool for bank to attract new customer and retained existing one. The bank makes use of the internet as means to increase business status for innovation (Yakhlef, 2001).
1 Introduction Internet banking is the platform to do business or provide services to the customers over internet or World Wide Web via electronic medium and gadgets (Abu, 2004). Many persons in various contexts define internet-banking concept. Customer retention is the process of continuing the business process with one customer. It refers to the activity that an organization undertakes to lessen the customer defection. Satisfied customers are intended to stick with the organization, which represents the long-term relationship between customer and organization (Hennig-Thurau, 2000).
This has led to the innovation of internet banking that has revolutionized the banking industry worldwide (Malhotra and Singh, 2010). In general, Internet banking refers to "the use of Internet as a delivery channel for the banking services, including traditional services, such as opening an account or transferring funds among different accounts, as
The Internet opened many doors of challenges to the banking sectors to deliver the best services and quality to their customers. The main challenge today, is how to utilise this technology to create an innovative way of processing the information and servicing the customer over the Internet. Using recent empirical evidence and cases studies, this papers illustrates, how some leading banks have managed to enhance their internal and external processes, by innovating and exploiting the capability of Internet 2. There are lots of advantages from implementing a web-based strategy (Internet), thus we will concentrate from the perspective of processes and services. This kind of strategy changes the game’s rules and its focus on “pursuing a business strategy that is quit different from the traditional retail banking model” 3.
INTRODUCTION Internet banking or online banking has been defined as “the service that allows consumers to perform banking transactions using a computer with an internet connection”. Pikkarainen et al. (2004) while defining Internet banking based on its utility defined it as “an Internet portal through which customers can use different kinds of services ranging from bill payment to making investments". Shih and Fang et al (2000) discussed how it is advantageous for the banks to go online, as it results in potential savings in the cost of maintaining a traditional branch network.. Giannakoudi (1999) states Internet banking system allows banks to expand their business geographically without investing in the establishment of new branches