Online Banking Evolution Essay examples

755 Words Aug 14th, 2014 4 Pages
System Evaluation Paper
Ariana Garcia
August 05, 2014
Anderson Smith

System Evaluation Paper
Banking has developed and continues to develop as the years go by. Traditionally a customer would walk into a branch if there were any type of transaction to be made. On paydays, a customer would walk into their bank and deposit their check, or cash them. If a customer wanted to send money to their family in Canada or another state they would submit a form to send funds to them, it would then take a few business days for the recipient to have the money in hand. In 1983, the basic and original functions of online banking began via telephone and a television, they were introduced by The Bank of Scotland, and were called “Homelink”
…show more content…
Business owners may also use the convenience of direct deposit for payroll employees, which also save them time and effort. Mobile banking has most of the online tools but much more convenient for someone always on the go. It can be accessed through a phone or a tablet by downloading the application for a particular bank institution or their mobile web browsers. Due to the growth of online banking stores like a local grocery store, coffee shop, drug store, or restaurant now allow one to conveniently load desired amount of money to their application and pay with them as if it was a card itself. Some link directly to one's bank account and they never have to worry about forgetting their card at home. Security is a concern and still always be, but most banks provide their customers with guaranteed security, if someone happens to be a victim of fraudulent transactions on their account and they can prove it was not them, they will return the funds back into their account. Security for online banking continues to improve to decrease the risk of unauthorized access to accounts. These security developments are crucial to banks, they need trust from their customers in order to achieve customer satisfaction and customers do not close their accounts

Related Documents