Online Banking In China
Internet banking has revolutionized the banking industry all around the world. The technological advancements have helped to elevate the banking sector to a different dimension. “The banking sector at the beginning of the 21st century in Europe can be characterized by enormous structural changes” (Salmen and Muir, 2003, p. 133). This has also proved to be the case for many Asian countries as well with a closer look on china were the changes because of internet banking have been most significant This has brought about many changes and also impacting the customers (users), businesses and banks only to name a few. His paper aims to investigate the impact that internet banking has had on the customers in china, one of the world’s fast growing …show more content…
The e-banking is also known as Internet banking or online banking. The banks now represent a part of the wide world Web and have managed to stay competitive in the rapid changing business world and also have benefited so much from it. This innovation (achieved by globalization and technology growth) has “obliged” the business entities to remodel and redefine their operations. Electronic banking is the future wave. It offers tremendous advantages to consumers in terms of the cost and ease of …show more content…
Into this scenario arrived the Internet – another radical technological innovation with the potential to change the structure and nature of banking. Many banks have adopted the Internet as a delivery channel. 4.1The Advantages of Internet Banking Some banks have started to provide customers the alternative of online-internet banking, a practice that has benefits for both all parties included. The convenience of being capable to access accounts at any time as well as the capability to do transactions without visiting a local branch, draw several people to be included. Some benefits of internet banking but are not restricted to, involve: Customer’s convenience: Real-time account information and balances are present at the touch of a few buttons hence, building banking easier, faster and more effective. Additionally, updating and managing a direct account is simple however it takes only a few min to change the mailing address, order extra checks and be reported for market interest
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