Online Banking

1. Online Banking

2. What is Online Banking? • It’s an electronic finance system • It allows customers to conduct financialtransactions on a secure website operated by their retail or virtual bank, credit unionor building society. • It includes all of ways of using electronic equipment to contact bank for work. • It’s also called internet banking

3. What can you do on it? • Wire transfer • Pay bills • Internet shopping / buying online • Loan • Investment • Funds transfer • EEPP (Electronic bill presentment and payment )

4. Security / Hacking • There is a security risk people worry about and therefore doesn’t trust internet banking that much. • Security matters are solved by having different protections, these include such as : • PinCode • Password

5. Convenient • Fast, efficient and effective • Easily accessible • Operates 24/7 • Quick transfer of money • Able to view all previous transaction Advantage Disadvantage Banks close down therefore employees lose jobs Security issues Requires learning to start Start-up takes time Site may not work. Requires access to computer and internet

6. Stakes holders involved • Account Holder (customer) • Employee • Manager • Creditors • Directors • Government (and its agencies) • Owners (shareholders) • Unions • Community

7. Impact of online banking • Shareholders – as customers doesn’t visit bank as often, shares may reduce in value therefore make less profitbut also may increase in value as more people use banking system through online. • Customers – people can access more easily and effectively.

8. Impact of hacking on SH • Managers – may get fired for it • Account Holder – Lose the deposited money in the account.May get delay on their work. • Employee – Lose jobs + more work • Shareholders – bank lose value and credibility so profit reduces • Other banks – may get more customers due to unreliable-ness in other banks

10. Thank you~