E-Banking System Benefits and Issues

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E-Banking System Benefits and Issues

June 7, 2021 Economics and Management 0

E-banking has become a critical component of the banking industry’s future growth. Electronic banking, often known as online banking, is a service offered by many banks that allows customers to conduct all types of banking transactions over the internet, largely through the use of information technology and communication. E-banking is particularly important in many industrialised countries because it is the most cost-effective way of providing banking services. It also made it easier to shift money around the country and across borders. It is a borderless entity that allows consumers to bank whenever, wherever, and however they want. E-banking is one of the most successful on-line enterprises, saving customers and businesses time and money. It can be accessed from any computer, PDA, or mobile device with an internet connection. It also allows customers to make financial transactions through the institution’s website, such as a virtual bank, a retail bank, or a credit union. Despite the many advantages of E-Banking, there are a few elements that influence its use. This research paper will provide an overview of e-banking, including its definition, functions, types, benefits, and drawbacks. In a nutshell, e-banking is banking that can be done at any time and from any location.

Author (s) Details

Hajera Fatima Khan
Accounting Department, College of Business Administration, University of Hail, Hail, Kingdom of Saudi Arabia.

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