Full Answer Using a telephone to check a bank account balance, transfer money or review account history is considered to be safe and convenient by some patrons. The provision of telebanking allows customers to carry out all of these transactions without accessing a mobile application, finding a computer or visiting a branch location. Telephone banking therefore appeals to people who want immediate, spoken feedback on their bank accounts and who are concerned about the security associated with other remote banking options. Telephone banking makes customer service and bank account information available to a patron 24 hours a day, 7 days a week with no interruptions due to holidays or weekends.
It has brought changes in economy, politics, culture, society and the people themselves. In the finance and banking sector, this change is more tremendous. Because, the use of computer in banking ensured the mathematical accuracy and promptness.
It has made banking transactions more speedy, easy and comfortable. Today, the client need not to carry a cheque book or cash money rather it is enough for him just to carry a plastic card.
But the spread of electronic banking in our country is very limited. In other words, E-banking means that kind of banking in which the bank uses electronic or satellite based computerized devices for ensuring promptness and accuracy in banking transactions.
The objectives of Electronic Banking have to be discussed rrom two perspecnves. Objectives from the perspectives of bank; B.
Objectives from the perspectives of clients However, the objectives of may be presented in diagram also. From bank From the clients From the clients 1. Reducing administrative costs through reducing 3. Increasing income through fees. Acquiring data and information in time.
Lessening time and cost in transactions.Tele Banking.
Do your Banking on the go with Tele-Banking facility from Federal Bank offering a host of services that you can avail via your telephone.
Electronic banking, also known as electronic fund transfer (EFT), uses computer and electronic technology in place of checks and other paper transactions. EFTs are initiated through devices like cards or codes that let you, or those you authorize, access your account.
Using electronic delivery channels for banking services and products has become increasingly popular in recent years. Electronic banking makes it possible to offer banking services around the world 24 . For many people, electronic banking means hour access to cash through an automated teller machine (ATM) or Direct Deposit of paychecks into checking or savings accounts.
But electronic banking involves many different types of transactions, rights, responsibilities — and sometimes, fees. Electronic Banking—Overview Objective.
Assess the adequacy of the bank’s systems to manage the risks associated with electronic banking (e-banking) customers, including Remote Deposit Capture (RDC) activity, and management’s ability to implement effective monitoring and reporting systems.
Tele-Banking. Greenville Federal’s Tele-Banking uses state of the art technology to provide you a hour information service that is close as the nearest touch tone telephone.