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E Banking Essay

1650 Words7 Pages

Modern Technology has transformed the conventional methods of banking operations; the term E-banking emerged and became a competitive tool for banking industry in Bangladesh. E-banking is an expansion over conventional banking system because it has shortened the cost of transaction processing and thereby improving the payment efficiency and also improving the banker-customer relationship. It plays an essential role in providing satisfaction not only to the customer but also to the banker. The bank management should discover innovative ways of making electronic services more accessible and by allowing the customer to verify the accuracy of the E-banking transactions with secured process.

Literature review

Risk: E-banking improves a bank’s performance and competitiveness so that existing customers can be benefited from greater degree of convenience in effecting transactions. However, the banks are facing with different levels of risks and expectations arising from E-banking as compared to traditional banking services. There are various kinds of risks are involved with E-banking. It has sole distinctiveness that may enlarge an institution's overall danger profile and the level of risk associated with usual financial services, strategic, operational, reputation and legal risks. Due to the starter of E-banking technology, operational risks are on the rise and should be maintained in a proper way. The bank needs to manage these risks in the areas of security, data confidentiality, data system integrity, system availability and outsourcing. These risks are closely linked …show more content…

Investment in technology involves significant start-up costs. Adequate opinion of experts is needed. Supervisors must ensure that management of banks are aware of these risks involved in E-banking and carefully access their strategic options so that the added uncertainties may be compensated by additional

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