E-banking & M-Banking:- Introduction technology advantages securities

1. E-Banking And M-Banking
Prepared By:-
Kishan D. Dholakiya

2. What is E-Banking:-
 Internet banking (or E-banking) means any user with a personal
computer and a browser can get connected to his bank’s website to
perform any of the virtual banking functions.
 The term "electronic banking" or "e-banking" covers computer,
telephone or mobile banking.
 In other words it is said that it is updated 'on-line, real time'. The
system is updated immediately after every transaction automatically.

3. What is M-Banking:-
 Mobile banking is a service provided by a bank that allows its
customers to conduct financial transactions remotely using a mobile
device such as a mobile phone or Tablets.
 It uses software, usually called an app, provided by the financial
institution for the purpose.
 The earliest mobile banking services used SMS, a service known
as SMS banking.
 Mobile banking before 2010 was most often performed via SMS.
 After 2010 Apple and Google Promoted internet services for m-
banking.

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5. Usages Of E-Banking:-
 Viewing account balances, recent transactions, Bank statement,
Downloading applications for m-banking.
 Fund Transfer between the customer's linked accounts
 Paying third parties
 Investment purchase or sale
 Loan applications and transactions
 Credit card applications
 Personal financial management support, etc….

6. Technology Used in E-Banking :-
 The Electronic Fund Transfer (EFT)
 Automated Teller Machines
 Credit and Debit Card
 Charge Cards
 Smart Cards
 Mobile Applications
 WEB Services

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8. Advantages Of E-banking
 Permanent access to the bank
 Lower transaction costs / general cost reductions
 Access anytime and anywhere
 Less time consuming
 Very safe and secure method
 Fast, Accurate
 No need to visit bank frequently
 Increase cashless transections

9. Risks/Threats of E-Banking :-
 India comes second and fourth on the list of cyber attacks directed
towards mobile users and Computer users respectively.
 Most of these are phishing attacks aimed at users’ banking
information
 53% Indians worry over security in mobile financial services
 A 2014 there were 536 cases of computer intrusion, with an average
loss per cases of Rs.30,000.
(source: indiaexpress.com)

10. The most common types of E-banking threats :-
 Fake Banking Apps And Websites
 Unsecured Wi-Fi
 Phishing Attacks
 Malwares and Viruses
 Inferior Security
 Fake Promotional Offers
 Lack Of Awareness

11. Steps that should taken for Safe Banking :-
 Always use original websites mentioned by banks.
 Install banking apps (any app, for that matter) only from official
stores such as Google Play/App. Store
 Avoid using banking activity on free, unsecured Wi-Fi networks
available in cafés, airports, hotels, etc
 Avoid clicking on links or downloading attachments that come with
unexpected/unknown emails or SMSs
 Once done, always Log Out. Avoid clicking on options like
‘Remember Me’ or ‘Keep me logged in’

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 Never store banking information like login ID/Passwords,
credit/debit card number, its CVV number, etc., on your phone
 Secure your phone with a Password or PIN
 When in doubt, don't respond

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