Description
Internet Banking presentation explains on Bank’s Perspective, Customer’s Perspective, services provided, facts and figures, critical issues
Internet Banking
What is Internet Banking?
?
Internet banking involves usage of Internet for secured delivery of banking products & services. Banks offer its customers online access to account information and payment and fund transfer facilities. It falls into categories, from Level 1 - minimum functionality sites that offer only access to deposit account data - to Level 4 sites highly sophisticated offerings enabling integrated sales of additional products and access to other financial services- (such as investment and insurance.)
?
?
Why Internet Banking?
? Bank’s Perspective
? ? ? ? ?
No geographical barriers Reach out to a much wider customer base Local banks to operate in the global scenario Efficient and cost effective technique of banking Investments of negligible value as compared to the expenditure on physical infrastructure of these banks and their operations
? Customer’s Perspective
?
?
?
24 hour access to services ranging from account queries to real time transactions Flexibility of banking from any part of the world has narrowed the physical gap between the banks and their customers Immediate and secured transaction within minutes (e.g. trading)
Range Of Services
? Transactional
? ? ? ? ?
?
Electronic bill payment Electronic Funds transfer Electronic clearing System Investment purchase or sale Loan applications and transactions, such as repayments of enrolments Cash Management , Demat holdings, NEFT and RTGS Bank statements Account Summary/Inquiry
? Non-transactional
? ?
Facts & Figures
?
52 million active internet users in India according the yearly report – I-Cube released jointly by Internet & Mobile Association of India(IAMAI) -23% use internet banking
?
ICICI Bank kicked off internet banking in 1996.Currently 78% registered for its internet banking with an increase of 117% in transactional volume since 2005 fiscal year
Around 40 % of transactions on the net take place between non banking hours i.e. 6 pm to 8 am.
40%
?
Non Banking Hours
60%
Banking hours
Internet Banking Related Laws
Internet banking governed by:
?
?
Information Technology (IT) Act, 2000
Internet Banking guidelines of the Reserve Bank Of India
India is the 2nd country in Asia to initiate technology related act Internet banking encouraged through:
? ?
Focussed legislation
Access to IT skills, computers and incentives to ISPs
Critical Issues
?
Authentication & Password Encryption issues
?
Internet or PC user base in India is extremely low compared to global standards. Lack of infrastructure to advanced technology based banking services.
Need for a firm regulatory framework for Internet banking transactions in India. The mindset of the Indian consumer, who prefers personal interactions and is not very comfortable, doing transactions through the Internet.
?
?
Thank You
doc_194522463.ppt
Internet Banking presentation explains on Bank’s Perspective, Customer’s Perspective, services provided, facts and figures, critical issues
Internet Banking
What is Internet Banking?
?
Internet banking involves usage of Internet for secured delivery of banking products & services. Banks offer its customers online access to account information and payment and fund transfer facilities. It falls into categories, from Level 1 - minimum functionality sites that offer only access to deposit account data - to Level 4 sites highly sophisticated offerings enabling integrated sales of additional products and access to other financial services- (such as investment and insurance.)
?
?
Why Internet Banking?
? Bank’s Perspective
? ? ? ? ?
No geographical barriers Reach out to a much wider customer base Local banks to operate in the global scenario Efficient and cost effective technique of banking Investments of negligible value as compared to the expenditure on physical infrastructure of these banks and their operations
? Customer’s Perspective
?
?
?
24 hour access to services ranging from account queries to real time transactions Flexibility of banking from any part of the world has narrowed the physical gap between the banks and their customers Immediate and secured transaction within minutes (e.g. trading)
Range Of Services
? Transactional
? ? ? ? ?
?
Electronic bill payment Electronic Funds transfer Electronic clearing System Investment purchase or sale Loan applications and transactions, such as repayments of enrolments Cash Management , Demat holdings, NEFT and RTGS Bank statements Account Summary/Inquiry
? Non-transactional
? ?
Facts & Figures
?
52 million active internet users in India according the yearly report – I-Cube released jointly by Internet & Mobile Association of India(IAMAI) -23% use internet banking
?
ICICI Bank kicked off internet banking in 1996.Currently 78% registered for its internet banking with an increase of 117% in transactional volume since 2005 fiscal year
Around 40 % of transactions on the net take place between non banking hours i.e. 6 pm to 8 am.
40%
?
Non Banking Hours
60%
Banking hours
Internet Banking Related Laws
Internet banking governed by:
?
?
Information Technology (IT) Act, 2000
Internet Banking guidelines of the Reserve Bank Of India
India is the 2nd country in Asia to initiate technology related act Internet banking encouraged through:
? ?
Focussed legislation
Access to IT skills, computers and incentives to ISPs
Critical Issues
?
Authentication & Password Encryption issues
?
Internet or PC user base in India is extremely low compared to global standards. Lack of infrastructure to advanced technology based banking services.
Need for a firm regulatory framework for Internet banking transactions in India. The mindset of the Indian consumer, who prefers personal interactions and is not very comfortable, doing transactions through the Internet.
?
?
Thank You
doc_194522463.ppt