16-01-2013, 12:09 PM
Go Green with Online Banking
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ABSTRACT
Banks like any other business directly interact with the environment as consumers of natural resources. Green banking can benefit the environment either by reducing the carbon footprint of consumers or banks. Online banking is an example of this. When a bank’s customers go online, the environmental benefits work both ways. This paper tries to find out the various services of online banking to the consumer, as well as to the banks, provides ways to Go Green through ‘Online Banking'.
Introduction
Banks like any other business directly interact with the environment as consumers of natural resources.
Banks heavily contributes towards the carbon emission in terms of use of paper, electricity, stationary, lighting, air conditioning, electronic equipment etc.
Banks should try and reduce the increase in carbon footprint caused by them either directly and indirectly and should play a vital role in ensuring sustainable and environment friendly development.
Definition of Green Banking
Green Banking means promoting environmental – friendly practices and reducing your carbon footprint from your banking activities.
Green banking can benefit the environment either by reducing the carbon footprint of consumers or banks. Either works. Same with paper. Either a bank or a consumer can conserve paper and benefit the environment.
Online Banking Services
Some online banks are traditional banks which also offer online banking, while others are online only and have no physical presence. Online banking through traditional banks enable customers to perform all routine transactions, such as account transfers, balance inquiries, bill payments, and stop-payment requests, and some even offer online loan and credit card applications. Account information can be accessed anytime, day or night and can be done from anywhere.
Conclusion
The Green banking, on one hand it provides challenges to the banks and on the other hand it provide many opportunities as well. It is strongly believed that within the foreseeable future carbon will have a price tag attached to it. And it gives banks a role to play in transition to a low carbon economy.
Green banking benefits the environment either by reducing the carbon footprint of consumers or banks. When a bank’s customers go online, the environmental benefits work both ways.