The Research On The Internet Banking Essay

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Online banking (or Internet banking) allows customers to conduct financial transactions on a secure website operated by their retail or virtual bank, credit union or building society. Features Online banking solutions have many features and capabilities in common, but traditionally also have some that are application specific. The common features fall broadly into several categories Transactional (e.g., performing a financial transaction such as an account to account transfer, paying a bill, wire transfer... and applications... apply for a loan, new account, etc.) Electronic bill presentment and payment - EBPP Funds transfer between a customer's own checking and savings accounts, or to another customer's account Investment purchase or sale Loan applications and transactions, such as repayments Non-transactional (e.g., online statements, check links, cobrowsing, chat) Bank statements Financial Institution Administration - features allowing the financial institution to manage the online experience of their end users ASP/Hosting Administration - features allowing the hosting company to administer the solution across financial institutions Features commonly unique to business banking include Support of multiple users having varying levels of authority Transaction approval process Wire transfer Features commonly unique to Internet banking include Personal financial management support, such as importing data into a personal finance program such as Quicken, Microsoft Money or TurboTax. Some online banking platforms support account aggregation to allow the customers to monitor all of their accounts in one place whether they are with their main bank or with other institutions... [edit] History The precursor for the modern home online banking services were the distance banking services over electronic media from the early '80s (the term
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