1: CONVENIENCE:
Unlike the normal bank that used paper based financial records that may be closed sometime, online banking sites never close. They are available all time ie 24 hours a day, seven days a week, 365 days a year and they are just a mouse click away from you.
2: UBLIQUITY:
for example we are going somewhere and, when you are facing a money problem. then you can just log on to the internet and transfer money to the other accounts whom you need to pay the money. This helps you to make some shopping or other aggrement without having cash with you.
3: TRANSACTION SPEED:
Obviously the online banking helps you to have faster transactions
4:EFFICIENCY:
Feel free to access, manage and control all your bank accounts, including Individual Retirement Accounts, CDs, even securities, from one secure site. This is what you want to have in your life.
5: EFFECTIVENESS:
you can manage all your banking operations even without going to the bank. you get alert of transactions via mail.you can make bill payments online and transfer funds, all for free of cost.
Monday, March 30, 2009
SECURITY SYSTEM IN ONLINE BANKING:
Now a day’s most of the financial instutions uses the two famous strategy for online banking:
1: The PIN/TAN System: Here the PIN represents the Password and the TAN represents the one time password to authenticate the transactions. These TANs can be distributed in different ways to the different users.one of the method is to send a list of TANs to the customer by postal letter. Another secure way of using TANs is to generate the TANS by need using a security token. These token generated TANs depend on the time and a unique secret, stored in the security token.This is called two-factor authentication or 2FA. Generally PIN/TAN is done via a web browser by using SSL secured connections.
2: Signature Based System: In signature based system all transactions are signed and encrypted digitally. The Keys for the signature generation and encryption can be stored on any memory medium, on the basis of concrete implementation.
1: The PIN/TAN System: Here the PIN represents the Password and the TAN represents the one time password to authenticate the transactions. These TANs can be distributed in different ways to the different users.one of the method is to send a list of TANs to the customer by postal letter. Another secure way of using TANs is to generate the TANS by need using a security token. These token generated TANs depend on the time and a unique secret, stored in the security token.This is called two-factor authentication or 2FA. Generally PIN/TAN is done via a web browser by using SSL secured connections.
2: Signature Based System: In signature based system all transactions are signed and encrypted digitally. The Keys for the signature generation and encryption can be stored on any memory medium, on the basis of concrete implementation.
WORKING OF ONLINE BANK
Customer log on to the respective web sites provided by the banking instutions or financial instutions. Then they can view their account status. They can make transactions of their money to other account in online. For example I want buy a good from a production company, log on to the corresponding site, select the good that I want to purchase. Then I specify the payment to that company via my account. Then the good will be sent by the company to my address.
Similarly we can perform other operations corresponding to the online system such as transfering the money to other accounts, checking the bankin strategy, interests checkout, and so on.
Online banking is banking at your convenience. All banks today are encouraging customers to bank online rather than going to the bank and making transactions. This helps the customers to save money and time.
Similarly we can perform other operations corresponding to the online system such as transfering the money to other accounts, checking the bankin strategy, interests checkout, and so on.
Online banking is banking at your convenience. All banks today are encouraging customers to bank online rather than going to the bank and making transactions. This helps the customers to save money and time.
WORKING OF ONLINE BANK
Customer log on to the respective web sites provided by the banking instutions or financial instutions. Then they can view their account status. They can make transactions of their money to other account in online. For example I want buy a good from a production company, log on to the corresponding site, select the good that I want to purchase. Then I specify the payment to that company via my account. Then the good will be sent by the company to my address.
Similarly we can perform other operations corresponding to the online system such as transfering the money to other accounts, checking the bankin strategy, interests checkout, and so on.
Online banking is banking at your convenience. All banks today are encouraging customers to bank online rather than going to the bank and making transactions. This helps the customers to save money and time.
Similarly we can perform other operations corresponding to the online system such as transfering the money to other accounts, checking the bankin strategy, interests checkout, and so on.
Online banking is banking at your convenience. All banks today are encouraging customers to bank online rather than going to the bank and making transactions. This helps the customers to save money and time.
DEFINITION
DEFINITION
Want to control of your business by your own? Then you have the solution. Online banking also called internet banking is the banking strategy that allows the customers to make their transactions and account access via the secure website provided by the respective financial institutions. This is the most popular technology in the modern world of science and technology. So this allows us to control our own business ourselves.
Now a day’s online banking is gaining popularity all over the world. Most of the financial institutions of the world use this technology. The use of online banking in today's computer technology gives you the option of bypassing the time-consuming, paper-based aspects of traditional banking to manage your finances more quickly and efficiently.
Online banking is banking at your convenience. Now a day’s all banks are encouraging their customers to use online bank rather than going to the bank and making transactions. This will be very powerful to the customers to save money and time.
Want to control of your business by your own? Then you have the solution. Online banking also called internet banking is the banking strategy that allows the customers to make their transactions and account access via the secure website provided by the respective financial institutions. This is the most popular technology in the modern world of science and technology. So this allows us to control our own business ourselves.
Now a day’s online banking is gaining popularity all over the world. Most of the financial institutions of the world use this technology. The use of online banking in today's computer technology gives you the option of bypassing the time-consuming, paper-based aspects of traditional banking to manage your finances more quickly and efficiently.
Online banking is banking at your convenience. Now a day’s all banks are encouraging their customers to use online bank rather than going to the bank and making transactions. This will be very powerful to the customers to save money and time.
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