Thesis electronic banking

Besides uniquely identifying the sender, the digital signature also ensures that the original message was not tampered with in transit.

Impact of internet banking on financial performance

It would be impossible for anyone but the sender to have created the signature, since he or she is the only person with the access to the private key necessary to create the signature. However, this is indeed a serious matter that needs to be looked into by the relevant authorities in this country. Banking technological developments make it much easier and cheaper for customers to compare and contrast products and to establish multiple banking connections [39], which could alter the purchasing decision making process of the customer [40]. But, software-based protection has many potential hazards. Banks has grown geographically faster in terms of services which they render through e- banking compared to the traditional banking method. The most essential issue for banking sectors which still remains is the negative attitude towards the security of electronic banking. The message encrypted by the private key can only be verified by the public key. But, unlike the traditional viruses, the new viruses will aim to have no visible effects on the system, thus making them more difficult to detect and easy to spread unintentionally. By law, the user ID and password allows us to identify you as the valid owner of the account. Trojan horse as mentioned above.

Appropriate lighting must be available at all times and a mirror may be placed around the ATM to enable the individual using the ATM to determine the locations of persons in their immediate vicinity.

This can be done by a number of ways, such as planting viruses e. Analysis of the security measures on ground and propose a solution which we think would curtail resilient transactions such as fraud in electronic banking to its lowest minimal if not total eradication.

To this end, accounts should be opened only after proper introduction and physical verification of the identity of the customer. Areas of Consideration Analysis of the case The problems of the systems today are inherent within the setup of the communications and also within the computers itself.

impact of electronic banking on bank performance

The Board of Directors and senior management are respectable for ensuring there is clear director and showing visible management support for security initiatives. This action means that consumers will be able to use their bank cards to conduct transactions in cyberspace as securely and easily as they use cards in retail stores today.

The out come of it will be an addition in the interactions of customer with technology interface. The security features are implemented as extension headers that follow the main IP header, which means that there are mandatory security features for IPv6 which are optional to IPv4 [15].

While there is no doubt that Internet banking transaction should have layered protection against security threats, the providers should approach security considerations as part of their service offerings.

Impact of electronic banking on customer satisfaction project

Some advantages of electronic banking has makes many customer in the whole wide world received and turn better side to electronic banking based on this following such as perceived usefulness which means that electronic banking technology has a different services which could start from the ordinary common Automatic Teller Machine ATM services and direct deposit to Automatic Bill Payment ABP , Electronic Transfer of Funds EFT and computer banking popularly known as PC banking. This can be done by a number of ways, such as planting viruses e. Probably, the major phenomenon of the twenty first century has been electronic communication and information technology. Thus, a logical step for the management of banking related organizations may be to fully understand the organizational barriers inherent in e-banking. Furthermore, a number of change management issues usually associated with any new technology implementation are compounded simply because some applications such as e-banking have a greater and more immediate impact on the organization. To this end, accounts should be opened only after proper introduction and physical verification of the identity of the customer. It allows companies to make new business contacts from different global business alliance, test near products and services, and make market research and other enquiries all at a minimal cost both financial and otherwise. Conclusion The providers of Internet banking services must be more responsive security requirements. You should also make sure that your password is hard to guess. It would be impossible for anyone but the sender to have created the signature, since he or she is the only person with the access to the private key necessary to create the signature. The Smartcard would then receive this altered information and send it, which would create a disaster for the user. Nowadays, many forms of attacks like packet sniffing, IP spoofing do take place which can lead to an attacker gaining privileges to read information that is being transmitted like user id and password information [16]. This form of attack would require much time and effort to be invested to break in.

Electronic banking has also brought new challenges for bank management, supervisory and regulatory authorities. You should also make sure that your password is hard to guess. It removes geographical limitations for small and medium size banks, thereby paving ways for international operation without limits.

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Electronic banking