For dealing with institutions financial ,and expand the base of financial transactions on the Internet like buying and selling Various products appeared electronic bankingElectronic banks is a virtual banks make a Web site equipped with the best means of protection for the regulation of financial transactions of deposit and withdraw and transfer funds from financial institutions to personal accounts and vice versa.
The concept of
electronic banking has been defined in many ways.
Let' take some:
·
Pikkarainen
(2004) define internet banking as an "internet portal, through which customers
can use different kinds of banking services ranging from bill payment to making
investments".
·
De
Young (2001) With the exception of cash withdrawals, electronic banking gives
customers access to almost any type of banking transaction at the click of a mouse.
Indeed the use of the internet as a new alternative channel for the distribution
of financial services has become a competitive necessity instead of just a way
to achieve competitive advantage with the advent of globalization and fiercer
competition
·
Flavin
et al (2004) Banks use electronic banking as it is one of the cheapest delivery
channels for banking products, also electronic banking saves the time and money
of the bank with an added benefit of minimizing the likelihood of committing
errors by bank tellers.
·
Jayawardhena
and Foley Robinson (2000) believes that the supply of electronic banking services
enables banks to establish and extend their relationship with the customers.
There are other numerous advantages to banks offered by online banking such as
mass customization to suit the likes of each user, innovation of new products
and services, more effective marketing and communication at lower costs.
