E-Banking Case Study

CHAPTER 01

INTRODUCTION

Introduction

Creates a chapter on the background of the study, the research problem, the study, the objectives of the study, research questions, hypotheses of the research, limitations of the study, in the end, the chapter outline

Background

To cope with the village and the introduction of new technologies has made new programs in the field of e-banking and payment systems for e-commerce banking. One of the programs, pay for the use of Electronic Funds Transfer cover payment obligations between financial institutions and their customers with traditional methods of cash and checks electronic method. Electronic funds transfer method called secure settlement obligations, paying bills, salaries and money mass transfer, etc.

Today the Internet is the best way, was a supply channel and distribution complete and walking in consumer-oriented in the forefront of this development is the electronic applications of financial products and services. Due to the rapid spread of cyber EFT is an alternative channel for the provision of banking services and products. In Sri Lanka, the banks are now online services and ETF as head of the Bank of Ceylon, Sampath Bank Commercial Bank of Sri Lanka, are beginning to appear. Electronics is now considered a strategic weapon and will revolutionize the way banks operate, deliver and compete with each other, especially when the competitive advantages of traditional branch networks is rapidly eroding (Nehmzow, 1997; Seitz,

Banking customers are demanding today. Their convenience and flexibility (Birch and Young, 1997; Lagoutte, 1996) to new levels. Financial management tools and traditional retail banking products and services that do not provide the powerful and easier to use than and ETF, banks and financial institutions have the authority to provide these services through the use of extensive public network infrastructure before can be established electronic banking. EFT is believed to be in the future decline in importance as a strategic program to a competitive need to be approved by the majority, if not all banks and financial institutions. Advances in the field of information and communication, in particular the increased use of EFT for the transaction of business, has had a major impact on the banking sector. Although this is a global phenomenon, creating a truly global impact is EFT market in less developed countries with the developed Western countries. While the poor economy, education and infrastructure are obvious factors in the slow introduction of the technology in a number of developing countries, it is likely that other problems, such as trust play that role. This thesis describes the conclusion of the study is to define EFT in the central province of Sri Lanka division Naula, a country in South Asia, and suggest several factors that may be involved in