use of the Internet in the banking industry
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The use of the Internet in the banking industry.
1. Executive summary
Banks and other financial service providers to gain competitive advantages, operational efficiencies and direct marketing opportunities increasingly use online banking. No queues, no waiting at cash machines to check your balance and no worries about whether standing orders or bills are processed on time. Internet Banking gives you the ability amongst other things to: check balances, view transactions, view, amend, create and cancel standing orders/direct debits, view and cancel direct debits, pay bills, make payments to family and friends, transfer money between your account, 24 hours a day 365 days a year. You may view your accounts when it suits you to do so not when the bank is open. You have direct control over when payments are to be made from your account and you may transfer funds to and from savings accounts into your current account. Internet transactions are secure, as of January 2002; there has not been a single case of an online saver losing money through cyber-fraud.
2. Introduction
This is a report on the use of the Internet within the banking industry...