E-BANKING

Unveiling E-Banking: An
In-depth Analysis of its
Purpose, Features,
Advantages, and
Limitations
 Group-2

Group Members
Roll Number
1. Aliyi Irbo
7
2. Ansar Mohammed
8
3. Dagmawi Teweldebrhan 9
4. Diriba Abdissa
10
5. Dita Alemayehu
11
Introductio
n

Welcome to the presentation on

Unveiling E-Banking. This presentation
provides an in-depth analysis of the
purpose, features, advantages, and
limitations of e-banking. E-banking has
revolutionized the way we manage our
finances, offering convenience and
accessibility. However, it also comes
with its own set of challenges. Let's
explore this fascinating topic together.
 D e fi n i t i o n o f E -
Banking

E-Banking, also known as electronic

banking, refers to the use of electronic
channels to conduct various banking
activities. It allows customers to
perform transactions, access account
information, and avail banking services
through the internet or mobile
applications. E-Banking has gained
immense popularity due to its
convenience and time-saving benefits.
 Purpose of E-Banking

1. Convenience: It allows customers to access and manage their accounts at

any time and from anywhere with only an internet connection.
2. Accessibility: It makes banking services accessible to individuals who may
have difficulty visiting physical branches.
3. Time Saving: By allowing customers to perform banking transactions online
it reduces time for paper works.
4. Cost-Effective: reduces costs for both customers and banks
 CONTINUED

5. Enhanced Services: E-Banking offers additional features like real time

account balances, transaction history, personalized financial insights and
alert for account activities.
6. Security: E-Banking employs advanced security measures like
• Encryption
• Two factor authentication
• Secure connection
 Types of E-Banking

There are two main types of e-banking:

Internet Banking and Mobile Banking.
Internet banking involves accessing banking
services through a secure website using a
computer, whereas mobile banking allows
customers to perform transactions and
access banking services using mobile
devices such as
smartphones and tablets.
 Features of E-
Banking
E-Banking offers a range of
features including 24/7 accessibility,
fund transfers, bill payments,
account balance inquiries,
transaction history, and online loan
applications. These features provide
customers with the convenience of
managing their finances anytime,
anywhere. E-Banking also offers
enhanced security measures to
protect customer information and
transactions.
Benefits of E-Banking

1. Flexibility: E-banking allows customers to

perform wide range of banking activities.
2. Global Access: allows customers to access
their accounts wherever they are
3. Automatic Bill Payments: E-banking
allows customers to set up automatic bill
payment.
Benefits of E-Banking

5. Fraud protection: E-banking platforms are used for

monitoring for suspicious activity and providing
alerts.
6. Easy Money Transfer: E-Banking makes it easy to
transfer funds between accounts, within the same
or different bank.
7. Integration with other services
Disadvantages of E-
Banking

While e-banking offers numerous benefits, it

also has some limitations. Technical issues,
cybersecurity risks, lack of personal interaction,
and dependency on technology are some key
limitations. Technical glitches can disrupt
banking services, and cybersecurity threats
pose a risk to customer data. Additionally, e-
banking lacks the personal touch of face-to-face
interactions and requires a reliable internet
connection.
Security Measures in E-
Banking
E-Banking employs robust security measures
to protect customer information and
transactions. These measures include
encryption, two-factor authentication,
firewalls, and regular security updates.
Encryption ensures that sensitive data is
transmitted securely, while two-factor
authentication adds an extra layer of
protection. Firewalls and regular security
updates help prevent unauthorized access
and keep the system secure.
E-Banking and Future
Trends

The future of e-banking looks promising with the

emergence of fintech innovations, AI- powered
chatbots, and blockchain technology. Fintech
innovations enhance the user experience and offer
personalized financial solutions. AI-powered chatbots
provide instant customer support, while blockchain
technology ensures secure and transparent
transactions. These advancements will shape the
future of e-banking, making it more efficient and
customer-centric.
E-Banking and Financial
Inclusion
E-Banking plays a crucial role in financial
inclusion, providing access to banking services
for individuals who are geographically or
economically disadvantaged. It enables the
unbanked and underbanked population to avail
financial services, such as microloans and
remittances, through digital channels. E-Banking
contributes to reducing the financial gap and
empowering individuals with financial
independence.
 E-Banking and Sustainable
Development

E-Banking aligns with the principles of sustainable

development by promoting paperless transactions
and reducing carbon footprints. It minimizes the
need for physical infrastructure, such as bank
branches, and encourages digital financial services. E-
Banking also facilitates remote work and reduces
commuting, contributing to a greener environment.
By embracing e-banking, we can contribute to a
more sustainable future.
 E-Banking and Customer
Empowerment

E-Banking empowers customers by

providing them with control, convenience, and
access to financial information. Customers have
control over their finances, with the ability to
monitor transactions and set personalized alerts.
The convenience of e-banking allows customers
to manage their finances on their own terms.
Access to real - time financial information
enables informed decision-making and financial
planning.
E-Banking and Global
Connectivity
E-Banking fosters global connectivity by
enabling cross-border transactions and
international financial services. It facilitates
seamless money transfers, foreign currency
exchange, and international trade. E- Banking
breaks down geographical barriers and connects
individuals and businesses worldwide. Global
connectivity through e- banking promotes
economic growth, trade, and cultural exchange on
a global scale.
 E-Banking and Data
Analysis
E-Banking leverages data analytics to gain
valuable insights into customer behavior,
preferences, and financial trends. By
analyzing customer data, banks can offer
personalized financial products and services.
D ata analytics also helps in detecting
fraudulent activities and improving risk
management. E-Banking combined with data
analytics enhances customer experience and
enables banks to
make data-driven decisions.
E-Banking and Cybersecurity

Cybersecurity is a critical aspect of e-banking.

Banks employ advanced security measures
to protect against cyber threats such as
phishing, malware, and identity theft.
Customer awareness and education are also
essential to prevent falling victim to
cybercrimes. Regular security updates,
employee training, and collaboration with
cybersecurity experts are crucial to maintaining
a secure e-banking environment.
 Cha l l e ng e s o f E - B a n k i n g

E-Banking faces several challenges,

including technological barriers, customer
resistance, and regulatory compliance.
Technological barriers arise due to the digital
divide and limited access to internet
infrastructure. Some customers may resist
adopting e-banking due to concerns about
security and privacy. Regulatory compliance
ensures that e-banking practices adhere to
legal and ethical standards.
 Conclusio
n
In conclusion, e-banking has transformed the
banking landscape, offering convenience,
accessibility, and a wide range of financial
services. While it comes with its limitations and
challenges, e-banking continues to evolve with
technological advancements. By embracing e-
banking, we can empower customers, promote
financial inclusion, and contribute to a more
sustainable and connected world.
 T hanks!
Do you have any
question?
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