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Information about VIRTUAL BANKING

Published on September 12, 2008

Author: umanand


Welcome to all IOBIANS : Welcome to all IOBIANS VIRTUAL BANKING : VIRTUAL BANKING A VIRTUE OR CURSE Virtual Banking : Virtual Banking Bank with a very small or nonexistent branch network services through the Internet or other electronic channels Origin : Origin Security First Network Bank (SFNB) – Oct 18,1995 - Atlanta,Georgia,USA. Asia’s first virtual bank was FinatiQ – a division of the Bank of Singapore - April 2000 Features of Virtual Banking : Features of Virtual Banking Online Banking E-Mail Banking Phone Banking Mobile Banking Automatic Teller Machine Online Banking ? : Online Banking ? Customer to conduct financial transactions on a secure website operated by their virtual bank. Features of Online Banking : Features of Online Banking Any Time 24*7*365 Any where Bill payments Investment (Online Trading) Fund Transfers (Inter & Intra bank) Request for Demand draft, Pay Order etc... Email Banking ? : Email Banking ? The service which can be done for specific transaction though Registerd Email ID. Features of E-Mail Banking : Features of E-Mail Banking Receive daily, monthly statements through registered email id. Cheque book request. PIN request. Phone Banking ? : Phone Banking ? Customers to perform transactions over the telephone Most telephone banking use an automated phone answering system with phone keypad response or voice recognition capability Features of Phone Banking : Features of Phone Banking Balance Inquiry Account Statement (For the day or any specific period on Fax) Transaction Details Cheque Related Information Mobile Banking ? : Mobile Banking ? The service which can be done for specific transaction through Registerd Mobile Number. Features of Mobile Banking : Features of Mobile Banking Automatic Alerts SMS Requests ATM ? : ATM ? An Automated Teller Machine is a computerised telecommunications device that provides the customers to access financial transactions in a public space without the need for a human clerk or bank teller. Features of ATM : Features of ATM Withdraw cash instantly. Withdraw cash across the world through international cards. View mini statement. Cheque Book Request. Deposit cash and cheque for collection. Card to Card Transfer Advantages of Virtual Banking : Advantages of Virtual Banking Convenience Ubiquity Transaction speed Efficiency Effectiveness Disadvantages of Virtual Banking : Disadvantages of Virtual Banking Fraud Start-up may take time Learning curve Bank site changes The trust thing How best IOB can implement : How best IOB can implement Paying routine bills, fees and taxes Printing Bank Statements Updating passbooks Reaching the Remote Hassle Free Service Purchasing Postage Stamps Train Tickets How Best IOB can implement : How Best IOB can implement Transaction between the banks Deposit - ATM Using the Mobiles Biometrics Concepts Biometrics Technology : Biometrics Technology Bio Metric Finger Card Slide 21: Biometrics Technology Slide 22: FINGER CARD Conclusion : Conclusion Virtual Banking is Virtue ? : ? THANK YOU UmaSumithaAnandhiSenthil kumarAswath RamanAjarangi kumar : THANK YOU UmaSumithaAnandhiSenthil kumarAswath RamanAjarangi kumar

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