This document discusses internet banking and its advantages. It provides details on the features of internet banking such as viewing bank statements, paying bills electronically, and transferring funds between accounts. It lists benefits for both banks and consumers, including lower costs, increased convenience and flexibility. The document also outlines security risks and recommends controls for authentication, access, encryption, firewalls, and intrusion detection to mitigate threats.

1. Internet Banking RITU AND JASDEEP SINGH

2. Bank statement ,with the possibility to import data in a personal finance program such as Quickenor Microsoft Money Electronic bill payment Fund transfer between a customer’s own checking and saving accounts , or to another customer account FEATURES OF INTERNET BANKING

3. Investment purchases or sale Loan application and transactions, such as repayment Account aggregation to allow the customers to monitor all of their accounts in one place whether they are with their main bank or with other institutions.

4. Round –the –Clock Banking Convenient Banking Low –Cost Banking Profitable Banking Quality Banking Speed Banking Service Banking ADVANTANGES OF INTERNET BANKING

6. Extends to new markets

7. Flexibility

9. Flexible

10. Can log on from almost anywhere

11. Convenient

12. Transaction SpeedBenefits of Online Banking

13. Start-Up Cost a)connection cost to the internet or any other mode of electronic communi- cation. b)cost of sophisticated hardware ,soft- ware c)cost of maintenance of all equipment, websites ,skill level of employees d)setting up organizational activities. CONSTRAINTS IN INTERNET BANKING

14. Training and Maintenance Lack of Skilled Personnel Security Legal Issues Restricted Clientele and Technical Problems

15. Malicious threats could include: hackers attempting to penetrate a system to read or alter sensitive data burglars stealing a server or laptop that has unprotected sensitive data on its disk imposters posing as legitimate users and even creating a website similar to yours authorized users downloading a web page or receiving an email with hidden active content that attacks your systems or sends sensitive information to unauthorized people COMMON MODES OF ATTACK

16. Authentication A user name and password combination, where the password can vary in length and include numbers and characters. Remember to include a system that prompts employees to change their passwords at regular intervals. "Two-factor" authentication requiring something the user has (eg an authentication token) and something the user knows (eg a personal identification number). A digital certificate that enables authentication through the use of an individual's unique signing key. A person's unique physical attribute, referred to as a biometric. This can range from a fingerprint or iris scan, through to retina or facial-feature recognition. SECURITY CONTROLS

17. 2. Access control Network restrictions to prevent access to other computer systems and networks Application controls to ensure individuals are limited in the data or service they can access Restrictions on what can be copied from the system and stored on pen drives, memory sticks or CDs/DVDs Limits on the sending and receiving of certain types of email attachments

18. 3.Encryption This technique scrambles data, and is used to protect information that is being either held on a computer or transmitted over a network. It uses technologies such as virtual private networks (VPNs) and secure socket layers.

19. 4.Firewall This is a hardware or software security device that filters information passing between internal and external networks. It controls access to the Internet by internal users, preventing outside parties from gaining access to systems and information on the internal network. A firewall can be applied at the network level, to provide protection for multiple workstations or internal networks, or at the personal level where it is installed on an individual PC

20. 5.Intrusion detection These products monitor system and network activity to spot any attempt being made to gain access. If a detection system suspects an attack, it can generate an alarm, such as an email alert, based upon the type of activity it has identified.

22. Make sure that you choose a password that will not easily be decoded

23. Check monthly checking and credit card statements carefully each month

24. Report errors or problems promptly

25. Be sure to “Log Out” of website when finishedSecurity Tips for Consumers

27. Have other browsers open while you are banking online

28. Download or open files that were sent from strangers because this could infect your computer and capture sensitive information without you even knowingSecurity Tips for Consumer

29. Improve customer access Facilitate the offering of more service Increase customer loyalty Attract new customers Provide services offered by competitor Reduce customer attrition Drivers of Internet Banking