Presentation by

ABOUT E-BANKING
RANGE OF SERVICES OFFER BENEFIT TO BANK

DRAWBACKS
E-BANKING IN INDIA ICICI BANK CONCLUSION

 A non-resident Indian (NRI) in Paris has

an easy way to access money in this world . His Citibank account in India can be accessed through an ATM in Paris, which in turn transmits information to Citibank central hub in the US The Indian rupees are converted to US dollars, which are in turn converted into French Francs at the current exchange rate, the Indian account is debited and the Francs made available to the NRI.

 Banking done electronically is electronic

banking. In other words, it is the products and services provided by the banks by using the electronic media or internet.

Computer systems with web servers,

database management systems, and web applications programs.

 Electronic Funds Transfer (EFT)

Automated Teller Machines (ATM) Point of Sales (P o S)

Electronic Data Interchange (EDI)

Credit Cards Debit Cards Smart Cards Digital Cash

 Competitive advantage
Unlimited network Lesser work load

Marketing tool
Lesser chances of fraud &

misappropriation Better profitability Better customer relationship

 Difficult in the adoption of technology

Fear of technology High cost of technology Security risk

Finland was the first country in the world who adopted E-banking. In India, it was ICICI Bank which adopted E-banking as early as 1997 under the brand name Infinity

Launched in December 97 and has 15,000 customers. It offers us convenient remote banking facility. It provides us an easy and secure access to our accounts. With just a PC connected to the Internet, it can have our account information at fingertips, from any where in the world, anytime. So, if we don't want brick and mortar bank timings to hassle us, Infinity Internet banking is just the service for you.

Account information
Summary of all your Accounts by giving details of each account,

snapshot of balances, available credit lines, record of payments and transfers. Allows transaction tracking (retrieval of transaction details based on cheque number, transaction amount etc) Provides account statement and transaction reports based on user defined criteria. Displays account balance message and also a warning when the Account balance limit has been crossed . Allows you to view details of fixed deposits and loan installments due.

 Funds transfer

-Transfer money between your accounts across any of the branches -Third party funds transfer which means you can transfer money to any the ICICI bank holder. Requests and intimations electronically submit a request for : -Cheque-book -Stop Payment Instruction -Opening a Fixed Deposit -Opening a Recurring Deposit

 Communication with your account manager

-Mail-box facility enables you to send secure mail to your account manager to find out the status of a request or for any clarifications.
Personalised Content -Infinity provides customised content

exclusively for its users

- Personal Finance containing views of experts - Select articles on electronic commerce, information technology - Lifestyle articles on various places of tourist attractionNews updates

Online investments
Online real time e-shopping payments
- Online shopping payments at rediff.com fabmart.com,

malamall.com, magiccart.com, indiainfoline.com, eindi a.com , indbazaar.com , shoppersstop.com, sify.com

Utility bill payments

-ICICI Bank has now tied-up with Life Insurance Corporation to accept the payment of life insurance premium over Internet -Payment of Bills of the cellular operator

If you have a PC connected to the Internet, you will be able to use Infinity. For optimal performance and security, the recommended browsers are :

Microsoft Internet Explorer 4.x or later Netscape Navigator 4.x or later

 ICICI Bank launched a web banking service

for non-resident Indians (NRIs).

NRIs can now open an account with the

bank on-line by visiting its NRI services section on the web-site.

The bank presently has over 15,000 NRI

customers, a majority of whom are in the United States, Middle East and Europe

Pakistan ranks 63 out of 65 countries ranked for ecommerce readiness in 2004 The no of online branches in Pakistan were 400 in 1999 & now they are up to 2000. E-enabled plastic cards have increased from 3 lacs to 1.6millon . Percentage of e-banking transactions is close to 5 %. . With the help of state bank the progress of e-banking will continue at a high pace.

The strategy for banks is to provide value-added services to products to customers utilizing the Internet extensively. Web based banking service or E-Banking, the latest generation of banking transactions, has opened up new window of opportunity to the banks and existing financial institutions.

THANK YOU