the changing needs of customers-internet banking

Advantages of internet banking to customers and financial organizations

Internet banking is the new revolution in banking . Since commercialization of internet in 1980s , there has been a great revolution in e-commerce and e-banking has become an important aspect of service provision by financial organizations . Millions of customers are today making transactions online and they don 't have to go to their branches for banking services . All over the world , there is a growing trend on e-banking based on increased penetration and adoption of internet services (Peterson , 2010 . The drive towards increased

e-banking has been orchestrated by different factors which are advantageous to both consumers and financial organizations . This looks into advantages of e-banking from the perspective of consumers and financial organizations

One advantage of e-banking is that it has provided opportunity for all day round banking services . With most world economies now operating on 24 hour bases , most banks find it necessary to provide financial service for 24 hours . However , they don 't have to keep their branches open for 24 hours . Internet banking makes it possible to customers to carry out their transactions online , which means branches don 't have to be opened for 24 hours . This aspect is advantageous to both consumers and the financial organizations as well . For customers , they have that convenience since they can access their money any time of the day without having to go to their branches . For financial organizations this is an advantage because it cuts on their operating cost . If...