E-Banking: Status, Implementation, Challenges,Opportunities

Increased competition, changing business environments, globalization and the advancement of Information and Communications Technology are the important factors that have forced Banking and Financial services to change. Demand for financial services is changing rapidly and customer behavior regarding these services is also adapting rapidly.Electronic banking is the wave of the future. It provides enormous benefits to consumers in terms of the ease and cost of transactions. But it also poses new challenges for country authorities in regulating and supervising the financial system and in designing and implementing macroeconomic policy.The major challenges that Electronic banking is facing is the security variability, lack of knowledge of end users, failure of bank transitions, user interface etc. In this paper we also conclude that what factors should be enhanced to improve Electronic banking.