Internet Banking

One of the most prominent industries to be affected by the Internet is banking, also called online banking, electronic banking, or mobile banking. Internet banking is an electronic payment system that allows banks’ customers to undertake financial transactions from their computer or mobile devices through their bank’s secured website.

Internet banking can be classified based on the types of services it renders to customers, including informational, communicational, and transactional. Internet banking is informational when a bank presents information about its products on its website. The bank controls the contents of the website, which are secured from outside manipulations. Communicational Internet banking denotes a two-way interface between the customers and the bank; this is a platform where customers are able to relay their banking needs, such as ...