27-06-2012, 05:45 PM
customer response towards E-banking
customer response.doc (Size: 1 MB / Downloads: 41)
GENERAL INTRODUCTION
The word bank is derived from the Italian banca, which is derived from German language and means bench. The terms bankrupt and “broke” are similarly derived from banca rotta, this refers to an out of business bank, having its bench physically broken. Money lenders in Northern Italy originally did business in open areas, or big open rooms, with each lender working from his own bench or table.
Traditionally, a bank generates profits from transaction fees on financial services and from the interest it changes for lending. In recent history, with historically low interest rates limiting banks ‘ability to earn money by lending deposited funds, much of a bank’s income is provided by overdraft fees and riskier investments.
ELECTRONIC BANKING:
It is an electronic banking which includes Internet Banking, Electronic Fund Transfer, and Automated Teller Machine (ATM). The transactions like Cheque book issuing, Bills payments, Fund transfer, Demand Draft, Balance Statement, Online ticket reservations can be carried out by using E-Banking.
Form of banking where funds are transferred through an exchange of electronic signals between financial institutions, rather than an exchange of cash, checks, or other negotiable instruments. The ownership of funds and transfers of funds between financial institutions are recorded on computer systems connected by
telephone lines. Customer identification is by access code, such as a password or Personal Identification Number instead of a signature on a check or other physical document. Electronic banking systems can be low-dollar retail payment systems, such as Automated Teller Machine networks and point-of-sale systems; and large-dollar interbank payment systems, such as the Federal Reserve Fed Wire or the Clearing House Interbank Payments System operated by the New York Clearing House Association Market
Is any place where the sellers of a particular good or service can meet with the buyers of that goods and service where there is a potential for a transaction to take place. The buyers must have something they can offer in exchange for there to be a potential transaction.
Marketing
Is the process by which companies advertise products or services to potential customers? It is an integrated process through which companies create value for customers and build strong customer relationships in order to capture value from customers in return.
Process by which individuals and groups obtain what they need and want through creating and exchanging products exchanging products and value with others. More simply: Marketing is the delivery of customer satisfaction at a profit
“The all-embracing function that links the business with customer needs and wants in order to get the right product to the right place at the right time”
“The achievement of corporate goals through meeting and exceeding customer needs better than the competition”
“The management process that identifies, anticipates and supplies customer requirements efficiently and profitably”
Marketing Management Is a business discipline which is focused on the practical application of marketing techniques and the management of a firm's marketing resources and activities. Rapidly emerging forces of globalization have compelled firms to market beyond the borders of their home country making International Marketing highly significant and an integral part of a firm's marketing strategy.
THEORETICAL BACKGROUND
“E-banking”- The execution of financial services via internet, reducing cost and increase in convenience for the customer to access the transaction. E- Banking is an umbrella term for the process by which a customer may perform banking transactions electronically without visiting a brick-and-mortar institution. The following terms all refer to one form or another of electronic banking: personal computer (PC) banking, Internet banking, virtual banking, online banking, home banking, remote electronic banking, and phone banking.