WELCOME TO ONLINE BANKING SOLUTION

 

 

 

Introduction

 

Now a days Online Banking get popular all around the world.Telephone Banking is one of them. Telephone banking appeared in Spain in mid-1995 by the hand of Spanish Credit Bank (Banesto) and Banco Central Hispano (BCH). Although initially only served as a means of inquiry, now incorporates virtually all parts of the financial system (Users, 2002; Leiva Muñoz, 2008: 42). The scientific literature also cites 1995 (specifically October) as the time of the outbreak of full-fledged online banking in the U.S., with the help of Security First National Bank (SFNB) (Gandy, 1995; Teo and Tan , 200) ...

In the struggle to assign an appropriate name to this technological innovation are terms like virtual banking, online banking, e-banking or e-banking generally, although it should clarify what is meant by each of them (electronic banking Classification Leiva Muñoz , 2008: 43):

    Electronic banking refers to the type of banking that is done by electronic means such as ATMs, telephone and other communication networks. Traditionally, this term has been attributed to Internet banking or online banking, but it should clarify its meaning. Some authors consider it as a superordinate construct representing several channels that also include telephone banking, mobile phone banking (technology based Wireless Application Protocol-WAP-Intenet that moves the mobile phone) and based on interactive TV ( iNet-TV).

    Internet banking 'or line includes tools that provide an entity for your customers to do their banking through the computer using a network connection to the Internet. For other researchers Internet banking is a new type of information system that uses innovative resources of the Internet and World Wide Web (WWW) to allow consumers to make financial transactions in the virtual space.

    The virtual banking or without physical presence. It is considered as a virtual bank without a bank office and commonly associated with the concept of virtual banking to electronic banking. Overall, this market should not be called virtual, being more appropriate designation or online banking, since the organizations participating in the exchange are completely real and exist physically.

In this consumer movement from traditional banking offices based on an autonomous banking, retail investors have undergone a profound change in their relationship with financial institutions. In the type of exchange relationship appears B2C called virtual bank 'or bank intended for home users, which could be included in any of the three types of banking as defined above. Also, it has spread in the business of Brockers and insurance companies.

Benefits and Barriers

From the point of view of the consumer, online banking offers a number of advantages that create value (Leiva Muñoz, 2008: 57):

    Comfort and convenience services, 24 hours a day, 7 days a week. Operations from home.

    Global Access.

    Save time.

    Cost savings for the bank that can or should affect the client. It may be cheaper than the telephone, especially if you have a flat rate or telephone information line is 902.

    Information transparency.

    Choice of customers.

    Offer customized products and services.

However it has detected a set of obstacles or difficulties that inhibit optimal online banking adoption (Leiva Muñoz, 2008: 59):

    Security concerns (viruses, hackers, ...) and for the personal and confidential information.

    Own intangibility and physical separation between client and agency.

    Bureaucracy service limit and outside line (solved with the passage of time).

    No information on the use and services and technological skills among users.

    Low Internet penetration in some rural areas or developing countries.

Procedure and security measures

Usually operates registering with customer data and password or a digital certificate. Other security measures include:

    Using strong encryption encrypted connection to the event that may have a sniffer. See SSL and TLS.

    Save the password in a safe place or, much better, memorize it and destroy it.

        Usually there is some method to retrieve if you forget: you can ask the cashier, telephone or on the same site can request shipment home.

        After sending it home, and be forced to request its activation by other means, such as telephone. This minimizes the dangers they intercept the mail.

            If the key is intercepted and used without the user's knowledge, is the bank over who is responsible.

        For activation can apply some safety data, to further reduce the risks.

    Browsers can store data entry form on the website of online banking. If there is a risk that you can see this information (for example, if there is a home computer) must prevent the browser store this data, especially the key.

        Also you may want to not store cookies bank, because if the server recognizes, can fill some form data automatically. This is the case of Wikipedia, which the cookie filled with the user name.

    Also key is often used another key called signature which is necessary to move money. The security measures on the signature should be even higher.

    If you do not use a trusted computer, you may have installed a program that captures the keys pressed on the keyboard. As an additional security measure, you can enter the password by pressing a button with the mouse. It is more difficult to ascertain the number down from the mouse position and more so if the buttons change position each time authentication is requested

References

    Gandy, T. (1995): "Banking in e-space", The Banker, 145 (838), p. 74-76.

    Leiva Muñoz, Francisco (2008): The adoption of a web-based innovation. Analysis and modeling of the mechanisms that generate trust, PhD, Department of Marketing and Market Research, University of Granada. Available online at: [1].

    Tan, M., Teo, T. S. (2000): "Factors Influencing the Adoption of Internet banking", Journal of the Association for Information Systems, 1 (5), pp. 1-42.

    Users (2002): "Evolution of electronic banking," Users, Nov.-Dec., Pp. 17-26

List of entities == online (virtual) ==

    Banks

        ActivoBank online bank owned by Banco Sabadell
        bancopopular-e, online bank owned by Banco Popular
        Uno-e, online bank owned by BBVA
        Openbank, online bank owned by Grupo Santander
        iBanesto, owned online bank Banesto (Grupo Santander)
        oficinadirecta.com, online bank owned by Banco Pastor
        Self Bank, part of the "la Caixa" and Société Générale
        ING Direct, online bank owned by ING Group
        Cathedral bank
        Inversis Bank, specializing in financial services.
        IWBank
        Cortal Consors, online bank owned by BNP Paribas
        BankiaLink, online bank owned by Bankia
        EVO Bank Novagalicia trademark BancoBAN

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