Define and Describe on e-Banking - QS Study
QS Study

The growth of Internet and e-commerce is dramatically changing everyday life, with the World Wide Web and e-commerce transforming the world into a digital global village. The latest wave in information technology is Internet banking or e-Banking. It is a part of virtual banking and another delivery channel for customers. In simple terms, Internet banking means any user with a PC and a browser can get connected to the banks website to perform any of the virtual banking functions and avail of any of the bank’s services. There is no human operator to respond to the needs of the customer. The bank has a centralized data base that is web enabled. All the services that the bank has permitted on the Internet are displayed on a menu. Any service can be selected and further interaction is dictated by the nature of service.

e-banking is a service provided by many banks, that allows, a customer to rola-1nd banking transactions. such as managing savings, checking accounts, applying for loans or paying bills over the Internet using a personal computer, mobile telephone or handheld computer (personal digital assistant) The range of services offered by e -banking are: Electronic Funds Transfer (EFT), Automated Teller Machines (ATM) and Point of Sales (PoS), Electronic Data Interchange (EDI) and Credit Cards Electronic or Digital cash.