“Collection of globally distributed text and multimedia documents and files and other network services linked in such a way as to create an immense electronic library from which information can be retrieved quickly by intuitive searches” (Columbia Encyclopaedia, 2004).
“The banking industry of the 21st century is being shaped by an unprecedented combination of pressures.
Brief histories of banking and the Internet are presented, first, as a foundation for discussing the convergence of the two in the mid-1990sinto what became known as Internet banking.
From there, Internet banking is shown to have expanded geographically and, within the industry, to banks of all sizes.
Expansion has also occurred in terms of available Internet banking features supported by new technologies that opened new opportunities.
Benefits from Internet banking are shown to be available to banking customers as well as banking institutions, and risks, such as those posed by security breaches, challenge customers and banks.It’s the new technologies that are being applied in banking that this dissertation explores with a focus on Internet banking.The dissertation will show that Internet banking, despite its relatively brief existence and despite some disadvantages, offers abroad suite of features and resulting benefits to banking customers as well as banking institutions, features and benefits that promise to expand in the future.Most references will beta Internet banking in the United States as this form of banking is most popular in that country in terms of sheer numbers (United Press International, 2001) and, thus, has benefited from the most study of its usage.The approach to presenting reviews of existing knowledge represents a logical progression from establishing a historical foundation followed by building a framework of the features, technology, benefits, and risks associated with Internet banking.Internet banking, despite its relatively brief existence and despite several disadvantages, offers a broad suite of features and resulting benefits to banking customers as well as banking institutions, features and benefits that promise to expand in the future.Evidence from a broad spectrum of research sources—professional journals, magazines, newspapers, reference material, legislative testimony, results of previous research, and commercial web sites—serve to support this thesis.A foundation will be established through a review of existing knowledge on the history of Internet banking (Chapter 2).Then, existing knowledge on the features of and technology applied in Internet banking (Chapter 3), benefits and risks of Internet banking(Chapter 4), and the future of Internet banking (Chapter 5) will then be explored.You can view samples of our professional work here.Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UK Essays.