INTRODUCTION TO E-BANKING

Abstract

Online banking, also known as internet banking,is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website. The online banking system will typically connect to or be part of the core banking system operated by a bank and is in contrast to branch banking which was the traditional way customers accessed banking services. Some banks operate as a "direct bank" (or “virtual bank”), where they rely completely on internet banking.