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Monday 23 April 2012

E-Banking



Online banking (or Internet banking or E-banking) allows customers of a financial institution to conduct financial transactions on a secure  website operated by the institution, which can be a retail or virtual bank, credit union or building society.


 The common features:









SECURITY (ONLINE TRANSACTION)


DEFINITION

§  Exchanging sensitive information without the appropriate encryption technology or security measures can make a computer user or identity particularly vulnerable. 

ADVANTAGES 

§  Online transactions take place at record speed, oftentimes faster than a standard credit card transaction or check processing.
§   Online transactions can be monitored, recorded, and key logged by a variety of hackers and third parties without the knowledge or consent of the user. 

There are several ways to help ensure safe transactions on the Internet:

  •  Stored-value cards (cards that you can buy with specified, loaded dollar amounts)
  • Smart cards (cards that can act as credit cards, debit cards and/or stored-value cards)
  •   Point-of-sale (POS) devices (PDA or mobile phone)
  • Digital cash
  •  E-wallets
  • Online payment services like PayPal




IMPORTANT!!!!

TIPS TO MAKE SURE THE TRANSACTIONS IS DECURE

1.    Use the latest Internet browser
2.    Look for digital certificates
3.    Read the privacy policy
4.    Only use one credit card
5.     Never give out passwords or user ID information
6.    Keep records of all of your Internet transactions
7.    After you've made purchases online, check your e-mail
8.    Not sharing passwords



ENTERPRISE WIDE TECHNOLOGIES AND METHODOLOGIES