Introduction of e-banking Essay Example | Topics and Well Written Essays - 4250 words

Introduction of e-banking - Essay Example This scale is regularly used for quantifying the opinions of the respondents (Han and Noh, 1999-2000 and Usoro, 1999). Electronic Banking (e-banking) is an extremely fast growing segment in the banking sector throughout the world. It is an example where information technology is used as an enabler and a facilitator of business activities both inside and amongst the various types of organizations (Applegate et al., 1996). It is estimated by Forrester Research that e-banking transactions will grow in value to $590 billion by 2007. It is with the concurrent reform of banking regulations and technological advances occurring across the world, multiple consumers and businesses are currently able to carry out on-line activities without visiting a store, and companies can carry out transactions and serve clients without the necessity to set up infrastructure in a commercial district. Such a radical change is a direct consequence of the progress of information technology, particularly through mediums like Electronic Data Interchange and the Internet and the internal network of the organization. ... Introduction Electronic Banking (e-banking) is an extremely fast growing segment in the banking sector throughout the world. It is an example where information technology is used as an enabler and a facilitator of business activities both inside and amongst the various types of organizations (Applegate et al., 1996). It is estimated by Forrester Research that e-banking transactions will grow in value to $590 billion by 2007. It is with the concurrent reform of banking regulations and technological advances occurring across the world, multiple consumers and businesses are currently able to carry out on-line activities without visiting a store, and companies can carry out transactions and serve clients without the necessity to set up infrastructure in a commercial district. Such a radical change is a direct consequence of the progress of information technology, particularly through mediums like Electronic Data Interchange and the Internet and the internal network of the organization. Though in the majority of the business areas the execution of ecommerce is a rent development, it has the possibility to radically change economic activities and the social milieu. (Kalakota and Winston,1996). This has significant strategic inferences for organizations, especially in the banking sector. This is so since, as the main business settlement agents, banks are inescapably faced with basic managerial and technological tests created by the advent of e-banking. Areas Impacted By E Banking Solutions Banks, in particular, should reflect on how they can optimally maintain clients who are transacting business by electronic means, and also how the banks can themselves discover new opportunities to endorse their services and product