The Level of Awareness of the Selected CBEAM Students on the Extent of E-Banking Security Technology plays an important role in the society nowadays and is already used in the different aspects of business like banking. According to Acevedo (2015), businesses rely on the access to bank information to perform the accounting tasks for the monitoring of the status of a business. In addition, E-Banking offers easy access, secured transactions and 24-hour banking. Moreover, as said by Titrade, Ciolacu, and Pavel (2008), the evolution of E-Banking started through automatic teller machines (ATMs), electronic funds transfer, and online payment. Based on the history presented by the article The History Of Internet Banking (2012), the innovations in online banking started in the early 1980’s and were giving easier job for the people who have access to it.
RECENT TRENDS IN RETAIL BANKING Due to the emergence of customer centric growth trend, today retail banks have understood the importance of meeting customer needs by which earning customer loyalty for long term growth. Due to the dynamic nature of evolving technology and competition within the sector, today we can see all the banks are coming up with new and innovative ideas to keep the customer happy. When banks try to create and manage customer relationship, several emerging trends affect the growth of bank. Due to these merging trends one can observe fundamental change by which bank communicate and retain their customer base. Targeting Organic Growth In recent past banks have grown mainly by way of acquiring weaker banks, taking over
Kumar (2006) studied the bank nationalization in india marked a paradigm shift in the focus of banking as it was intended to shift the focus from class banking to mass banking. Internationally also efforts are being to study causes of financial inclusion of low income group treating it both a business opportunity as well as a corporate social responsibility . Financial inclusion can emerge as commercial profitable business. Laxman, deen and Badiger (2008) examined that Banking Industry is undergoing paradigm shift in scope, content, structure, functions and governance. The information and communication technology revolution is radically perceptible changing the operational environment of the
Executive Summary This report is written to describe the potential threat of digital disruption that Deutsche Bank is facing in 2016: new ventures and incumbents in the European market are building seamless digital platforms that are attracting a growing number of customers and challenge the traditional Retail Banking model and value proposition. In the “Introduction”, an analysis of the evolution of the Retail Banking industry and new incumbents is provided. In the report is included a comparison between the theory of disruptive and big-bang innovation and the case of Number26, together with an inquiry about the technologies underlying such platform. In the “Conclusions” and “Recommendations” sections, the report identifies possible improvement
These are the bank codes that banks will use when sending or transferring money. SWIFT codes and BIC codes are used in many bank transfers. These are the options you need. It is one of the things that is important so that the money is transferred into the right account. Financial institutions can make sure that they are using the correct options in a wire transfer.
1.11 CUSTOMERS RELATIONSHIPS A SOURCE OF VALUE Prior to the global economic crisis of 2008-2009, the banking industry has achieved value for shareholders through financial gain. Today's growing systems and competitive challenges force banks to scale down and identify alternative sources of value. To engage in digital banking new digital models guide banks in the direction of customer relationships that offer new sources of value. The focus is on engaging customers and building confidence in the key activities of digital banking: marketing and sales; customers on the rise; account opening and maintenance. Banks have a business cut them.
He wrote: “Banks face three key challenges to become an agile bank: existing application complexity, changing customer behavior, and increasing amounts of data. To address these challenges and better serve customers, banks need to create a strategy to improve their core banking systems.” On his point of view, modern banking should become more agile in the marketplace. Customers like to have high quality and fast responses, and the first principle of Agile Manifesto is: “Our highest priority is to satisfy the customer through early and continuous delivery of valuable software.” (Beck,
With the global banking going through the period of transition, effective banking system is soon becoming a global issue. The various reforms in the financial sector covering the banking, insurance, trade, taxation, etc., have acted as major catalyst in
Banks play a vital role in not just purveying credit to the productive sectors of the economy but also as facilitators of financial inclusion. For public sector banks, which account for the largest share in the Indian banking sector but as the deteriorating capital positions of public sector banks is a matter of concern given the fiscal implications of capital infusion in these banks. Both the quantity and quality of capital will need to be improved while meeting the growing credit needs of the economy and maintaining the floor of the public ownership. And in India the acute problem of banking lies in having a comfortable balance between the conservative banking behaviour in extending credits and the enormous demand on bank funds for the success of development programmes. The social control of bank in India paves the way to a new consciousness in commercial banks behaviour.
CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY Computerized Accounting Information System has been widely used by many organizations to automate and integrate their business operations. The usage of Computerized Accounting Information System has been a tremendous growth in service industries in recent past. The most obvious example is perhaps the Banking Industry (Kabiru I. Dandago and Abdullahi Sani Rufai, 2014). The Banking Industry plays a key role in an economy and has indeed broadened its scope. The availability of internet facility has added a new dimension to the Banking Industry-Online Banking Services.