Question

Explain any four new trends of banking services under the e-Banking mode.

Answer 1

Answer:

Electronic banking has many names like e banking, virtual banking, online banking, or internet banking. It is simply the use of electronic and telecommunications network for delivering various banking products and services. Through e-banking, a customer can access his account and conduct many transactions using his computer or mobile phone. In this article, we will look at the importance and types of e-banking services.

Answer 2

E-Banking generally refers to the banking and financial activities and transactions that conducted through internet on any electronic devise such as laptop,mobile,tablet PCs etc.

Explanation:

New emerging trends in e-banking:-

1. Providing better customer experience:One of the fundamental objectives of e-banking is to consistently improve customer service and experience in banking and financial services.In this regard,many banks are encouraging app-based banking transaction which can be conducted and accessed from anywhere and anytime through a secured internet connection.It even does not require any large electronic device such as a laptop or tablet PCs.A smartphone is enough to serve the purpose.
2. Increased use of data analytics:These days many banks are implementing advanced technological mechanism such as artificial intelligence and data mining to enhance customer experience,reduce operational expenses and strengthen process automation.
3. Constant automation of business operation: Many of the commercial banks are constantly upgrading their technological tools and processes to improve the digital banking procedures for customers as well as employee.Incorporating latest technological resources within the offices have evidently accelerated work productivity,efficiency and enhanced the employee performance as well.
4. Home banking for customers:This is one of the features that is gaining prominence mostly among several private banks.With the help of the banking apps,customers can either conduct most of the banking services at home from depositing and transferring funds to opening a mutual fund or investment account or request for any service from the bank directly.Requesting for bank service also can be processed through the bank apps(website access is also not necessary) and in many cases the customers do not need to the bank.Hence,home banking saves valuable time and effort of the customers and helps improving customer experience.