Podcast
Questions and Answers
What is the primary function of internet banking?
What is the primary function of internet banking?
- To access banking services online through a secure portal (correct)
- To limit banking operations to in-person visits
- To deposit physical cash into accounts
- To conduct transactions only via mobile applications
Which of the following best defines mobile banking?
Which of the following best defines mobile banking?
- Conducting banking transactions exclusively through ATMs
- Using computers to access banking services
- Managing finances via smartphones and tablets (correct)
- Only available for business clients
What is one key feature of ATM banking?
What is one key feature of ATM banking?
- Direct support from bank tellers at all times
- Ability to apply for loans directly through the ATM
- Restrictions on account inquiries after business hours
- 24/7 access for basic banking services (correct)
Which statement accurately describes computerized banking?
Which statement accurately describes computerized banking?
What type of e-banking service is primarily aimed at individual consumers?
What type of e-banking service is primarily aimed at individual consumers?
What is a primary benefit of e-cheque authentication?
What is a primary benefit of e-cheque authentication?
How does e-banking enhance the banking experience?
How does e-banking enhance the banking experience?
What future trend is predicted for e-banking as technology advances?
What future trend is predicted for e-banking as technology advances?
Flashcards
E-banking definition
E-banking definition
Using digital platforms for banking transactions.
Internet Banking
Internet Banking
Online banking, accessing services via a secure website.
Mobile Banking
Mobile Banking
Banking on smartphones and tablets.
ATM Banking
ATM Banking
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Retail E-Banking
Retail E-Banking
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Wholesale E-Banking
Wholesale E-Banking
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E-Cheque Authentication
E-Cheque Authentication
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Computerized Banking
Computerized Banking
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Study Notes
E-Banking Overview
- E-banking (electronic banking) revolutionizes how banks operate and customers interact with financial institutions.
- It provides accessible, efficient, and user-friendly financial services via digital platforms.
- E-banking allows electronic financial transactions via the internet or mobile apps.
- It covers a wide range of services from balance checks to fund transfers and loan applications.
Types of E-Banking
- Internet Banking: Allows secure online access to banking services. Users can check balances, make payments, and transfer funds without visiting branches.
- Mobile Banking: Provides convenient financial management through smartphones and tablets. Features include fund transfers, bill payments, and transaction notifications.
- ATM Banking: Automated Teller Machines (ATMs) enable cash withdrawals, deposits, and account inquiries 24/7 without human interaction.
- Computerized Banking: Uses computer systems for account management, transaction processing, and customer relationship management.
E-Banking Services
- Retail Services: Targeted at individuals, including online savings accounts, personal loans, and credit facilities.
- Wholesale Services: Focuses on businesses, offering services like corporate accounts, cash management, and international trade financing.
Security in E-Banking
- E-Cheque Authentication: Digital cheques are electronic versions of traditional cheques for faster payments. They use digital signatures and encryption for security and fraud prevention.
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