Lesson 2: E-Banking - An Introduction

What does e-banking mean in its very basic form?

• The provision of information about a bank and its services via a home page on the World Wide Web (WWW).

• The use of physical branches for all banking transactions.

• The exchange of cash through ATMs only.

• The use of paper-based forms for all banking activities.

E-banking services can benefit customers in which of the following ways?

• By providing convenient access to banking services anytime and anywhere

• By increasing paperwork and manual processes

• By limiting customer access to their accounts

• By making banking services slower and less efficient

In the context of e-banking, electronic delivery of services means a customer conducting transactions using online electronic channels such as the Internet.

• True

• False

Which of the following are two benefits for banks and organizations to use e-banking channels for delivering their services?

• Reduced operational costs and wider customer reach

• Increased paperwork and slower transactions

• Higher physical branch maintenance and limited access

• Decreased customer convenience and security

What is the future of banking channels likely to be?

• Only e-banking

• Only physical branches

• A mixture of clicks (e-banking) and mortar (branches)

• No banking channels

Which of the following is NOT mentioned as a channel for banking services delivery?

• Branch networks

• Telephone banking

• Automated Teller Machines (ATMs)

• Mobile Apps

What is a critical approach for success in e-banking according to the passage?

• Customer first

• Technology first

• Cost reduction

• Staff training

Fill in the blank: E-banking can be made available 24 hours a day throughout the year, and a widespread availability of the ________, even on mobile phones, means that customers can conduct many of their financial tasks virtually anywhere and anytime.

• Internet

• Television

• Radio

• Newspaper

E-banking often attracts which type of customers, according to the passage?

• Tech-savvy customers

• Elderly customers

• Customers who prefer face-to-face banking

• Customers with limited internet access

E-banking customers are likely to have a lower demand for banking products.

• True

• False