Online Banking Services: An Overview

Technological development and developing challenge for compelling administration conveyance has required the execution of self administration at various levels. Such requests have not saved the budgetary part which is required to do support conveyance with least delay and at lower cost. Naturally, this has prompted the usage of electronic framework called online banking. According Tan and Teo, electronic banking has as of late turned into the route for the improvement of banking framework, and the role of electronic banking is expanding in numerous nations.

It offers chances to make administrations forms that request few of interior assets, and thusly, lower cost and gives more extensive accessibility and probability to arrive at more clients. From the customers perspective, electronic banking permits clients simpler access to money related administrations and efficient in dealing with their account.

The other saw positive characteristic of online banking incorporate the 24 hours and 7 days accessibility. The new innovation anyway isn't without difficulties. According to Lee, the apparent dangers as far as security or protection hazard is the best snag to online banking appropriation.

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The other further cons of online banking incorporate dangers and intricacy.

D, H N. Ramesh(2018),in their research study ” E-banking and its growth in India – A synoptic view”, has analysed now a day’s contribution of Electronic banking towards economic development plays a crucial role in developing countries like India. Banks are no longer restricted to traditional banking rather it is shifted to the virtual banking system. Customers are experiences more feasible in banking operations because of Information technology.

The banks are adopting IT-enabled tools and techniques for banking operations which improve in offering quality service to the customers. In traditional banking customers has to visit bank branches to avail banking services. Now with the ATMs, Internet banking, Mobile banking and Information Technology-enabled services are replacing the traditional method of service. In the recent days banks are concentrating on value-based service through E-banking.

The present study throws a light on the growth of Electronic banking and its product which are used in the banking sector. Dr.G.Nedumaran (2018), in their research study “Online Banking Services – An Overview ”, has analysed the Online Banking Services is expanding step by step in the Banking area in India. In this paper intends to look at the Online Banking Services in the Banking segment in India. In this investigation used to gathered information from essential and optional sources which are gathered from Banking Customers, Online, Website and different sources. Web based Banking Services, for example, Computers, Mobile Phones, Televisions, Internet, E-Mail and so on. The specialist presumes that through successful control, making consciousness of the Online Banking Systems.Rabiu, I. D., Ladan, S., Usman, H. A., & Garba, M. (2019),in their research study ” Impact of E-banking on the Operational Efficiency of Banks in Nigeria” , has analysed the impact of E-banking on the operational efficiency of Banks in Nigeria, A case of Diamond Bank Plc, Bauchi branch, Nigeria.

The objective of the study is to determine the impact of e-banking on the operational efficiency of banks in Nigeria. The research is a quantitative research which used primary sources of data collection. Questionnaires were used to obtained data. 138 questionnaire were distributed among customers of the Bank and the data collected where analysed using regression analysis. It is clear from the findings that, the use of E-banking (Internet and Mobile banking) by the banks has improved the efficiency of these Banks, in terms of providing efficient services to customers electronically, reduces time taken to serve customers, allows new customers to open an account online, customers have easy access to their account at all the time 24/7.

Furthermore, E-banking provides access to customer’s information from the data base and cost of cheque and postage was eliminated using E- banking. It is recommendation; the Banks should try to update and improve their internet banking platform, as it has significant positive impact on the operational efficiency of banks. Also, Biometric ATMs should be introduced to reduce fraud using ATM Cards, as it is use in other countries like USA among others.