Online Banking - 42019 Words

Internet Banking Table of Contents Chapter–1– Introduction 0 Chapter–2– Internet Banking a new medium 7 Chapter--3 - International experience 19 Chapter -4 -The Indian Scenario 33 Chapter- 5- Types of risks associated with Internet banking 41 Chapter- 6- Technology And Security Standards For Internet - Banking 49 Chapter -7 - Legal Issues involved in Internet Banking 74 Chapter- 8- Regulatory and supervisory concerns 84 Chapter–9 - Recommendations 98 Annexure 1 111 Annexure 2 112 Annexure 3 113 Annexure 4 115 Chapter–1– Introduction 1.1 Background 1.1.1 Banks have traditionally been in the forefront of harnessing technology to improve their products, services and efficiency. They have, over a long time, been†¦show more content†¦A new form of competition has emerged both from the existing players and new players of the market who are not strictly banks. 1.1.4 The Regulatory and Supervisory concerns in i-banking arise mainly out of the distinctive features outlined above. These concerns can be broadly addressed under three broad categories, viz, (i) Legal and regulatory issues, (ii) Security issues and (iii) Supervisory and operational issues. Legal issues cover issues relating to the jurisdiction of law, validity of electronic contract including the question of repudiation, legal / regulatory environment and gaps between the existing and electronic trade etc. On the question of jurisdiction the issue is whether to apply the law of the area where access to Internet has been made or where the transaction has finally taken place. Allied too is the issue where the income has been generated and who should tax such income. There are still no definite answers to these issues. 1.1.5 Security of i-banking transactions is one of the most important areas of concerns to the regulators. Security Issues include questions of adopting internationally accepted state-of-the art minimum technology standards for access control, encryption, firewalls, certification of digital signature, Public/Private Key Infrastructure (PKI) infrastructure etc. The regulator is equally concernedShow MoreRelatedOnline Banking1281 Words   |  6 PagesONLINE BANKING is the banking service that allows the customers to conduct financial transactions on the computerized networks such as internet through secure website with a particular bank. Online banking has no physical presence so the customer can perform banking activities at any place which has got the internet network. Online banking comprises of two things that is internet banking and sim banking. Online banking through traditional banks enable customers to perform all routine transactionsRead MoreOnline Banking1507 Words   |  7 PagesTABLE OF CONTENTS 1. INTRODUCTION 3 1.1. Background Information 3 1.2. Research Problem 3 1.3. Objectives 4 1.3.1 Project Objectives 4 1.3.2 System Objectives 4 1.4. Significance of the Study 5 2. LITERATURE REVIEW 6 2.1. Online Banking 6 2.2. History of Online Banking 6 2.3. General Statistics 7 1. INTRODUCTION 1.1. Background Information Jumuia Bank is a renowned bank in Kenya which has over 46 branches nationwide in Kenya. Its headquarters is located in Nairobi in Hurlingham, LenanaRead MoreOnline Banking2072 Words   |  9 PagesOnline Banking: How Technology has Affected the Bank Industry Aluscine Kabia Diana Mickle Jennifer Ross Betty Tekeste University of Phoenix COM525: Managerial Communication and Ethics Edward L. Dempsey March 14, 2005 Modern technology has set the stage for today s industries to adopt faster, more effective and efficient tools to improve their business and productivity. 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Dempsey March 14, 2005 Modern technology has set the stage for today’s industries to adopt faster, more effective and efficient tools to improve their business and productivity. A vast majority of organizations within various industries are using new technology to introduceRead MoreOnline Banking in Bangladesh6399 Words   |  26 PagesChapter 1 1.1 Introduction Internet Banking is growing popular day by day in Bangladesh. A number of private as well as local banks are going online now considering the demand and necessity of fast banking. Internet banking not only provides banking facility round the clock but also helps a country to get attached to the international economy as well as business. People throughout the world are now getting engaged with more activity and business and hence need the fast and anytime access to his/herRead MoreOnline Banking Project3550 Words   |  15 Pageshave been doing this, and internet banks continue the same function. The only difference is in the way the transactions are made. We all know about internet banking and most of us use it quite often as well, but few of us actually understand about the history of internet banking and how it all came out. Knowing the history of internet banking can be incredibly useful, especially since it will allow us to have more respect for the little things that we take for granted. Computers themselves have reallyRead MoreMaybank Online Banking2132 Words   |  9 PagesOnline Banking Time is a precious commodity. Traffic jams, parking woes and a busy schedule can be a hassle to your banking needs. Maybank2u.com is an instant online banking service that our valued customers can access from the desktop or laptop - anytime, anywhere - at your leisure and convenience. Cash Management BEING IN FULL CONTROL OF YOUR BUSINESS MEANS THE CHANCE TO DO MORE Online banking has become an important facet in everyday living. The fusion of internet technology