Internet banking is the provision of bank services via the Internet

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Internet banking is a system that can allow the management of various financial transactions in any place accessible to the client, at any convenient time and on any computer tool capable of accessing the Internet.

General view

Internet banking is a system in which a bank client must register, after which he can transfer funds from one account to another, as well as pay for selected purchases and services provided, and carry out other banking operations, while this being at home.

In order to carry out operations through the system under study, it is enough to have a personal computer or laptop with Internet access and any browser installed on the computer.

List of services

Internet banking is a system that makes it possible to carry out the following types of services forcustomer:

• account statements;
• receiving information on banking products;
• formation of applications for opening accounts, deposits;
• internal transfers;
• transfers to other banks;
• payment for services;
• repayment of loans.

Positive aspects of the system

Let's consider the main positive aspects of using Internet banking:

• reducing the need for a 24/7 bank to serve customers;
• reducing administrative work;
• growth in the number of online transactions;
• the ability to always access your bank accounts;
• no queues;
• saving money and time on the way to the bank;
• safety.

System flaws

The main disadvantages of Internet banking are those negative trends that hinder its development:

• weak degree of development among the retail sector;
• difficulty in predicting the payback period;
• lack of qualified staff to keep it running;
• low public awareness of these services;
• difficulties of a psychological nature;
• underdevelopment of issues related to EDS.

The system user has the ability to see their accounts in a special individual account, view account history, pay for cellular communications, utility services, television, online purchases, set up some automatic payments.

Trends in Russia

In recent years, there has been an increase in the number of Internet payments in Russia. Payments in Internet banking are transactions carried out within the system on the accounts of an individual without visiting a bank office. Thus, at the beginning of the current year, the penetration rate of the system in Russia was determined at the level of 16.7%. It is at the initial stage, since, for example, in Canada this figure is 60%.

Analyzing the use of Internet banking for individuals in our country, it should be said that the volume of payments and transactions within the system is constantly increasing every year, which indicates its advantages.

Thus, the share of payments by individuals through banking in terms of the number of transactions increased by 18% by 2017 and amounted to 26% against 8% in 2011.

In our country, in the use of Internet banking services, the share of payments from mobile operators is the leader and amounts to 48%. This is followed by payment for Internet services and utilities, payments for details, making online purchases.

Possibilities of the system of JSC "JSSB Belarusbank"

Let's consider the possibilities of using Internet banking of Belarusbank.

The system in JSC "JSSB Belarusbank" is a specialized developed information complex that ensures the functioning and the possibility of providing services via the Internet for customers.

To be able to use banking services, an individual needs to register in two ways: through the online-registration or at the office of this financial institution. Each customer can only have one account.

Entering the bank's Internet banking system is carried out through an account (login and password) in your personal account.

The process of registering a client in an individual account of the system is carried out as follows:

1. When contacting a bank office:

   you must submit to the bank office documents for identification and an existing bank card; fill in a special application form in the form of a bank with the possibility of servicing through this system; purchase a unique name and receive a password to enter the system, as well as a special session key card; activate the key card.

2. When applying through the bank's website, the following steps must be taken:

   apply online; pay for the provision of services; wait for the session key card to be delivered to the house.

To start using the system, do the following:

• click on the "My Account" icon;
• enter your login and password in the appropriate fields;
• set session code.

Possibilities of Internet banking in your account:

• view balance;
• deposit operations;
• loan operations;
• payments to ISPs;
• money transfers;
• view payment history.

The Future of Online Banking

There are two possible directions for the development of Internet banking services in the near future:

• improvement of existing systems, focus on attracting new customers;
• orientation towards an advanced user and, as a result, a qualitative improvement in the work of Internet banking by developing and detailing services, adding new ones.

Conclusion

In today's conditions of high market dynamism and competition for their customers, banks are trying to come up with more and more new ways to attract additional financial flows. To this end, various means of improving customer service are used. One of which is the introduction of Internet banking services. The experience of recent years in a number of banks has shown that the introduction of this system allows not only to improve the quality of service for existing bank customers, but also to increase the number of new ones, which, in turn, ensures the growth of profits and profitability of the bank. Thus, Internet banking is a service whose growth prospects in the coming years are very bright and significant.