Evolution of Internet Banking: e-marketingclass

Since 2004, there has been a rapid growth in consumer internet users, and business internet users. We learned communication and information are the primary reasons why consumers use the internet. Because of these two reasons, and many others, banking has took a turn to the "internet bandwagon". For years, security has been the major issue of online banking; but recently in technology advancements, even small banks can rest easy.

For many banks, as stated in the article, as online banking rises, corresponding to it is the increasing fees to pay their outsourcers. Another downfall banks believed to be true in the past was the problem of no customer service. Customer service gains revolving customers, therefore they were scared of putting their bank at risk. "Better, faster, cheaper"; what every bank wants to achieve. Although the article focuses on many drawbacks of internet banking, the slogan defines what online banking is. Cost, control, flexibility, security, and performance are key components to many bank business models, therefor moving their plan to internet related selling must still include these components.

On a personal note, I use internet banking weekly, and I am not handy with technology. Within 3 clicks I have my account balance, and my transactions. I check my bank information online tripple the times I actually drive to the bank, waste gas, and stand in line for a transaction. I would not choose a bank that presently didn't have online banking. I would consider them to be out of date, and not providing me with customer service by not knowing what I want. Online banking is now a commonplace, and provides banking in the liesure of ones home. Convenience is such a key as to why banks decided online banking would in fact rise their revenue, and help their customers. Instead of banks being open on so called business hours, they are now open 24/7; this is huge in terms of customer service. Banks also include help buttons, and phone numbers to call to extend their service online. The revolution of internet banking has skyrocketed recently, and done wonders for banks and their customers
Ashley Giannini
http://findarticles.com/p/articles/mi_qa3947/is_200112/ai_n9473568 _