The main objective of the proposed Project is to be automated the various functions and activities of the bank through Internet. The Project will facilitate to the bank employee and the account holders with the different modules. This is very much necessary for the private sector banks and the corporate sector. The banking industry will take a new shape and explore like never before. Using the project the bankers and account holders can generate various kinds of reports.
E-banking is the wave of the future. It provides enormous benefits to consumers in terms of ease and cost of transactions, either through the Internet, telephone or other electronic delivery. Electronic finance has become one of the essential technological changes in the financial industry. Electronic finance as the provision of financial services and markets using electronic communication and computation. In practice, e-finance includes e-payments, e-trading, and e-banking.
According to the definitions from the Bank for International Settlement (BIS-EBG, 2003b), e-payment creates considerable efficiencies and is superior to the traditional paper-based solution. E-trading is referred to as a wide variety of systems that provide electronic order routing, automated trade execution, and electronic dissemination of pre-trade and post-trade information. With the help of the e-trading systems, the transactions can be executed at a remote server and information can be conveyed to a remote location.
And e-banking means the provision of retail and small value banking products and services through electronic channels and large value electronic payments and other wholesale banking services delivered electronically. Although clients have enjoyed great convenience of e-banking and bankers have improved cost efficiency of banks (Lin and Lin, 2006, 2007), e-banking may lead to unstable financial environments. In other words, e-banking could make the financial markets less manageable by the regulators. Internet banking refers to the development of the Internet.