Mar 272024

Emergence of eBanking:-

Computer has eased human life. Every day new dimensions of its utility are emerging.
eBanking is one of the gifts to human beings by computer technology.Use of computers have automated banking process and thus has given birth to eBanking.
eBanking is a fast spreading service that allows customers to use computer to access account-specific information and possibly conduct transactions from a remote location – such as at home or at the workplace.
Use of internet has made every thing available at your finger tip. Lot of websites are ready to serve you, just at your mouse click.
ATM cards, credit cards ,debit cards, smart cards ,all these have eased human life up to such a extent that today life without these seems to be hard, full of misery.

Evolution of eBanking:-

Electronic banking started after Second World War with the use of proprietary software and private networks.
But the whole credit of making eBanking big hit goes to Internet.
Internet made eBanking trustworthy and useful. International trade has increased significantly in post world war period and with it monetary transactions between different countries have increased.
eBanking has facilitated trading between distant corners of the world without worrying about monetary transactions.
E-commerce has grown exponentially over last 30 years.
Electronic Data Interchange (EDI) and Electronic Funds Transfer (EFT) were introduced in the late 1970s, to send commercial documents like purchase orders or invoices electronically.
In 1980’s eBanking got a new dimension by the use of credit cards, Automated Teller Machines (ATM) and telephone banking.
This was the revolutionary period in eBanking. Now whole Commerce seems to be shouldering on these electronic systems.

What made eBanking so hit?
eBanking has certain features which give it edge over traditional banking system.
Features which make it so popular are –
Real time banking-
Unlike traditional banking which suffers from time consuming procedures, eBanking provides real time banking to the customers.
You get all the relevant information about your account instantly.
You can access all the details about your account sitting at home or at any distant location. eBanking has turned whole world into a small village.

24/7 banking-
eBanking has removed the time constraint from banking. Now you can withdraw cash or get any banking facility anytime. You are not required to ask bank employees for it. Electronic system will do all of this for you instantly.

Banking from anywhere-
Don’t worry if you are sitting in Middle East country and want to check you account in New York. eBanking certainly leaves no room for blaming the distances. Smart banking is ready to serve you anywhere, anytime.

Safe and secure Banking-
Electronically enabled banking is more immune to security and safety related problems. Password Based Encryption (PBE), Secure Socket Layer (SSL), electronic signatures and electronic tokens gives a high level of security.
Any malfunctioning or any inconsistency in your account can be traced easily. This makes eBanking more reliable.

Easy Loans, Instant Loans-
Use of smart cards, debit cards, credit cards has eased you from hatred, time consuming loaning procedures.
Your banks provide you instant loans. No need to keep cash with you at all, a small chip card has replaced piles of cash.
Certain web sites provide facility of online loaning. You can get instant loan there, just by filling a small form.
You can use these free websites for payday loans. You may try for payday loans.

High Performance and flexibility-
eBanking is a high performance system satisfying it’s customers for their every banking related queries and desires.
What makes it more interesting is its flexibility.
eBanking is using everyday advancements in technology, which makes it smart and banking system of today and tomorrow. You may login to to see what eBanking can offer you.

Bank customers across the world are now more willing to bank online as they are more comfortable with internet. They also want to avoid teller lines and telephone queues.
Their faith in security of internet banking has encouraged banks to turn from traditional methods to advance electronic enabled banking.
eBanking is about to replace traditional banking system completely. In near future you will have all services in your pocket embedded on a small chip. These smart cards will provide you facilities and services beyond you imagination.

If you have something to discuss over on eBanking or have some query, feel free to contact me.

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