E-Services Rendered by Banking Industry

Abstract

The banking industry has emerged as an integral sub-system of the financial sector which caters to banking needs of both public and private sector. Infact, banking is an institution that deals in money and provides other financial services. Banking has modernized itself in a big way in the recent past by way of introducing vital reforms, an E-banking in its fold. E-banking not only offers supply and deliver banking products and services through various electronic delivery channels via electronic devices but also provide efficient services. The penetration of internet in the E-banking has further taken the banking services to the new heights as the electronic devices get connected globally to share the information such as text, graphics, voice video and computer programme. Online banking or web banking allows the banking transactions that are performed by a secured internet application. Through online banking services, one can pay bills, transfer funds and check transactions any time of the day 24×7. Online banking has caught the imagination of the banking industry and the people world over. An attempt has been made in this paper to explain the e-services rendered by the banks and its benefits and challenges.