How technology has changed banking over the years

E-banking, online banking, net banking, etc. have completely changed the way banking is done today

 

 

Internet banking refers to the use of the internet as a delivery channel for banking services, which includes all traditional services such as balance enquiry, printing statement, fund transfer to other accounts, bills payment and new banking services such as electronic bill presentment and payment , According to a survey , The rapid growth and popularity of the internet has created great opportunities as well as threats to companies in various business sectors, to endorse and deliver their products and services using internet as a distribution channel.

       What can be done by online banking :

 

• Money transfer from one account to another account of same bank
• Money transfer from one account of a bank to another account of other bank. This is also known as NEFT or RTGS .

E-banking- Internet banking refers to the use of the internet as a delivery channel for banking services, which includes all traditional services such as balance enquiry, printing statement, fund transfer to other accounts, bills payment and new banking services such as electronic bill presentment and payment without visiting a bank. Commercial banks- This is a type of bank that provides services such as accepting deposits and loans from corporations or large businesses as opposed to individual members of the public(retail banking) Adoption- To take and follow (a course of action, for example) by choice or assent for instance to a adopt a new technique.