Internet Banking: Multi-Dimensional Perspectives

Ever since the advent of Internet technologies, banking institutions started exploiting them for providing value-added services to their customers. Internet banking not only made the banks build a single and unified platform for their wide range of services but also gave the customer various benefits in terms of cost and convenience. Technology development and penetration across the globe facilitated the spread of Internet banking among the sophisticated and unsophisticated customer segments. The emergence of new technologies paved the way for streamlining their Internet banking strategies by bankers across the globe, thereby redefining the objectives and methods pertaining to the implementation of Internet banking and identification of its importance and providing sophisticated services to their customers. As Internet is a publicly accessible network, concerns about the privacy and security issues of Internet banking rose in the minds of many customers who hesitated to adopt this service. Recognizing these concerns, both banks and regulatory agencies across the globe had taken up incremental measures to establish the robustness of Internet banking as a standard banking platform. Communications revolution had made the Internet penetrate into the remotest regions of the globe and this made the Internet banking accessible to rural and unsophisticated population. In this context, the role of technology in making Internet banking operations user-friendly and cost-effective is worth noting. Years to come will see more and more advances in Internet banking not only in terms of usage but also with respect to user awareness and transaction security in this regime. This book "Internet Banking: Multi-Dimensional Perspectives" provides an overview of the concepts and contemporary issues related to Internet banking from a Global perspective. It also focuses on the emergence of Internet banking in India, its present status and future prospects in the Indian banking sector.