E-Banking

With the emergence of e-banking, the customers are able to get more value for money, with goods customised to their exact needs, at less cost, and as quickly as possible. E-banking activities can range from simply providing information about a bank and its services via a home page on the World Wide Web, to more sophisticated e-banking services like providing customer access to accounts, the ability to move their money between different accounts, and making payments or applying for loans. The rapid advances in technology along with other factors have changed the banking industry. E-banking has benefitted the banks and its customers, both. There are certain risks also associated with electronic banking like security, privacy, cybercrimes like virus and hacking, etc. However, there exist several countermeasures which try to avoid such attacks.