Banking in cyberspace.
Chiw, Wee Kheong., Goh, Jen Kit., Irene Yung. Lim · DR-NTU (Nanyang Technological University) · 1996
The Internet is a vast collection of inter-connected networks. With its wide network and fast growth, organisations are able to tap its potential for more business opportunities. Some banks have realised this benefit and have started to establish a marketing presence in Cyberspace. However, apart from providing information services, banks have yet to offer banking application services on the Internet, that is, Cyberbanking. Through this project, we will unveil the reasons as to why this is so. Specifically, we will discuss it with regards to fraud and security, technological, operational, economical, costs and marketing, legal and ethical, social and psychological issues. The feasibility and implications of Cyberbanking in the local context will be explored. Some issues that will concern consumers are also highlighted. In addition, we will provide an insight as to how the future banking arena will be like with Cyberbanking.