A Study on Impact of Internet Banking Services on Functioning of Banks and Customers

Abstract

There is a paradigm change in 21st century in all the arenas such as Economy, Finance, newlineMedical, Engineering, Law, Agriculture, Education, etc. due to the Information newlineCommunication Technology (ICT) era. Application of Internet banking was introduced newlinein 1996 in India by ICICI bank. It was emphases the online banking services in branches newlinewhere customers can perform their financial transactions through the internet. Now, newlinecustomers able to execute their transactions with internet banking services such as newlinepaying utility bills, funds transfer, order of cheques, online investments, checking online newlineaccount balance and statements of the account, etc. through Internet banking. Internet newlineBanking Services is the structure and it paved the common interfaces path between the newlineconsumers and the banking institutes. e-banking i.e. electronic banking which has the newlineprovision of banking products and services where banks rely upon Information newlineCommunication Technologies for their functioning. newlineThe financial institutions are offering comprehensive banking products and services to newlinetheir customers to fulfill their expectations. The internet and mobile machineries applied newlinewith ICT in order to sustain the competitive surroundings to reduce costs and increase newlinecustomer convenience. Internet users aware about technological band and they can newlineaccess the required banking services through various alternative channels; i.e. ATMs, newlineinternet or web banking and mobile banking. Connectivity from desktop computers to newlinemobile devices has reformed from wired connectivity to wireless connectivity. Also, newlineservices of banks are available on mobile phones it s called as mobile banking. Mobile newlinebanking has wide-ranging potential to develop nation, where many customers can be newlineconnect to the Internet primarily through their mobile phones. newline