Internet banking, also known as online banking or e-banking or Net Banking is a facility offered by banks and financial institutions that allow customers to use banking services over the internet. Customers need not visit their bank’s branch office to avail each and every small service. Not all account holders get access to internet banking. If you would like to use internet banking services, you must register for the facility while opening the account or later. You have to use the registered customer ID and password to log into your internet banking account. Internet banking service is available to any non-individual entity is called Corporate Internet Banking. Corporate Internet Banking comes with a host of benefits like: Visibility & access to accounts, Single Page view of accounts, deposits, loans, cards, etc. Visibility to average and projected balances of accounts Facility to download account statements in multiple formats Security and safe online banking - All transactions are protected by 2-factor- authentication which ensures that only authorised user can complete a transaction. Digitization is still in the early stages in corporate banking. As it matures, more fundamental changes will ensue, enabled by the free flow of data between banks, their clients, and third parties. According to the excerpt use of emerging technologies like artificial intelligence, blockchain and robotics for data analytics will be the key features. Discuss how this can transform Corporate Banking in India also, explain the challenges.
Internet banking, also known as online banking or e-banking or Net Banking is a facility offered by banks and financial institutions that allow customers to use banking services over the internet. Customers need not visit their bank’s branch office to avail each and every small service. Not all account holders get access to internet banking. If you would like to use internet banking services, you must register for the facility while opening the account or later. You have to use the registered customer ID and password to log into your internet banking account.
Internet banking service is available to any non-individual entity is called Corporate Internet Banking. Corporate Internet Banking comes with a host of benefits like: Visibility & access to accounts, Single Page view of accounts, deposits, loans, cards, etc. Visibility to average and projected balances of accounts Facility to download account statements in multiple formats Security and safe online banking - All transactions are protected by 2-factor- authentication which ensures that only authorised user can complete a transaction. Digitization is still in the early stages in corporate banking. As it matures, more fundamental changes will ensue, enabled by the free flow of data between banks, their clients, and third parties.
According to the excerpt use of emerging technologies like artificial intelligence, blockchain and robotics for data analytics will be the key features. Discuss how this can transform Corporate Banking in India also, explain the challenges.
Step by step
Solved in 2 steps
