THE EVOLUTION OF eBANKING
This study looks at: ◗ The positive impact of technology on the banking sector in Ireland ◗ Recent developments in eBanking ◗ How eBanking results in time and cost savings for businesses and customers The Irish banking industry has been at the forefront in the pioneering of e-related activities. Evidence of this is everywhere from the ATMs in our streets to the increase in use of the Internet. We can now transfer money anywhere in the world with the press of a button.
eBanking Facts & Figures
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There are more than 2,000 ATMs in the Republic of Ireland (ROI). Almost 120 Laser transactions are performed every minute in Ireland. More than one-in-three Irish consumers own a credit or charge card. In 2003, 1.7m accounts registered for access to telephone banking and 1.1m registered for online access. Mobile phone penetration levels have now surpassed fixed line phone levels for the first time - mobile penetration in Ireland is at 88% with more than 3.5m mobile subscribers. In 2004, Internet penetration levels increased to 46%. An increasing number of Internet users are making online purchases.
The banking industry is facing an increasingly demanding environment as many consumers and businesses become more sophisticated. AIB has been innovative and successful in meeting these needs. AIB has improved customer services by taking advantage of the latest technologies. AIB has taken into consideration the changing needs of its customers and is offering greater access and online facilities. These measures have increased profits for the bank and passed on savings to the customer. There are four main elements of business that can be influenced by technology: production, personnel, costs and opportunities. Technology can entirely change the nature of a business. It can result in more efficient production and cost savings. While employees may need specialised training and managers will need to be more effective, new types of...