Recommend:

Index > > Advantages Disadvantages for Ebanking

Advantages Disadvantages for Ebanking

[Summary]The History of E-Banking While financial institutions took steps to implement e-banking services in the mid-1990s, many consumers were hesitant to conduct monetary transactions over the web. It took widespread adoption of electronic commerce, based o

Advertisement

The History of E-Banking

While financial institutions took steps to implement e-banking services in the mid-1990s, many consumers were hesitant to conduct monetary transactions over the web. It took widespread adoption of electronic commerce, based on trailblazing companies such as America Online, Amazon.com and eBay, to make the idea of paying for items online widespread. By 2000, 80 percent of U.S. banks offered e-banking. Customer use grew slowly. At Bank of America, for example, it took 10 years to acquire 2 million e-banking customers. However, a significant cultural change took place after the Y2K scare ended.
In 2001, Bank of America became the first bank to top 3 million online banking customers, more than 20 percent of its customer base. In comparison, larger national institutions, such as Citigroup claimed 2.2 million online relationships globally, while J.P. Morgan Chase estimated it had more than 750,000 online banking customers. Wells Fargo had 2.5 million online banking customers, including small businesses. Online customers proved more loyal and profitable than regular customers. In October 2001, Bank of America customers executed a record 3.1 million electronic bill payments, totaling more than $1 billion. In 2009, a report by Gartner Group estimated that 47 percent of U.S. adults and 30 percent in the United Kingdom bank online.

Online Banking

The World Wide Web has permeated virtually every aspect of modern life. If you have access to a computer with an Internet connection, an almost limitless amount of goods, services and entertainment choices are at your fingertips. You can do just about anything online, including your banking and financial transactions. But is this wise? Just how comfortable are you conducting your banking business in cyberspace? After all, online banking has both advantages and disadvantages, namely:

Personal Finance

1999-2016 Demand Media, Inc.

IMPACT OF INFORMATION TECHNOLOGY ON PROFITABILITY IN BANKING SECTOR

Chapter One: Hypothesis

The hypothesis section of any thesis or dissertation generally sets up the "problem" to ...
more on Hypothesis

Chapter Two: Literature Review

Chapter 2, known as the Literature Review, is where most of a dissertation's sources ...
more on Literature Review

tradeleads manufacturers

Send your export offer to BizEurope members now!

Register your offer here (free of charge)

Archived offers 2002 - 2011 (click here)

Members > click here for export offers of this month plus full contact details

Category: Computers
Country: India
Description: IndSoft.net offers web infrastructure and Managed Dedicated Server
to consumers and corporate worldwide. Serving more than 25000+ Customers World
Wide, IndSoft has achieved 15 consecutive years of sustained profitability and
scalability.

[Editor: Admin]
Related for Advantages Disadvantages for Ebanking
  • Advantages Disadvantages for E85November 20

    What are the Advantages and Disadvantages of Ethanol Fuel? Hydrogen: Again, it is just plain stupid to take a base fuel like natural gas, convert it to hydrogen, and try to build an infrastructure all over America to fuel cars (why not just use the n

  • Advantages Disadvantages for E MarketingDecember 26

    Advantages and disadvantages of online marketing It's obvious that social networks affect our lives in all the possible aspects (they serve to spread ideas, personal photographs and personal data in general, voluntary organization actions, ideas towa

  • Advantages Disadvantages for Internet BankingOctober 17

    The Pros And Cons Of Internet Banks Learn how internet banking services stack up against those of their brick-and-mortar peers. What are the advantages and disadvantages of Internet banking ? Online banking The internet Banking refers to the banking

  • Advantage Disadvantages Types of GovernmentAugust 24

    Government Advantages/Disadvantages Government Advantages/Disadvantages In truth, Anarchy is the lack of government due to either a revolution or the collapse of the previous government due to discontented citizens. While no government is in existenc

  • Why Is an Economic Advantage for a Developed Nation Often a Disadvantage for a Developing Nation?March 16

    eNotes Sorry, your browser is not supported. eNotes requires Internet Explorer 9 or greater. Please upgrade your browser to use eNotes. We apologize for any inconvenience, and thank you for your visiting. eNotes Support A Lesson on Comparative Advant

  • Advantages Disadvantages of Group WorkSeptember 29

    Top 16 Advantages and Disadvantages of Working in a Group Every person at one time or the other may have had to work in groups, be it while the person is in college or while at work . There are many instances in life that may have called for teamwork

  • Advantage Disadvantage GeothermalOctober 15

    advantages-disadvantages-geothermal-energy|Official Website of Doug Rye "Geothermal Energy and Geothermal Heat Pumps" advantages-disadvantages-geothermal-energy What Are the Advantages and Disadvantages of Geothermal Energy? Geothermal energy of

  • Advantages Disadvantages of Computer SystemsOctober 15

    Advantages And Disadvantages Of Computer With the advent of technology, computers can now make many well-informed decisions that managers or office workers may deem unnecessary for a human to make. These decisions may include crunching profit numbers

  • Advantages Disadvantages of MS-DOSOctober 21

    What are the advantages and disadvantages of DOS? What are the differences between the branded computer machine and assembled computer? And what are those differences and advantages/disadvantages? Answers (6) Posted by: Aylwin Rex Francisco Roxas 15-

Copyright Asdnyi All rights reserved.