Session 12 - FIN 441 Bank Management Electronic Banking...

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Bank Management & Electronic Banking FIN 441
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Session 12 Telebanking, SMS Banking & Online Banking
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TeleBanking:   via telecommunication devices where the bank customers can perform retail banking transactions by dialing a touch-tone telephone or mobile communication unit, which is connected to an automated system of the bank by utilizing Automated Voice Response(AVR) technology. Telebanking can be considered as a form of remote or virtual banking which is essentially the delivery of branch financial services Definition:
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TeleBanking:   The facilities available include Checking account balance, a recent transaction Get current interest rates Funds transfer between current, savings and credit card accounts Bill payments.
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Benefits of TeleBanking:   Benefit from Customer’s Point of View increased convenience expanded access significant time saving Benefit from Bank’s Point of View the costs of delivering telephone-based services are substantially lower than those of branch based services.
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TeleBanking: How it Works Enrolling with the bank for the Tele Banking service Obtain a Personal Identification Number (PIN) Upon Dialing Tele Banking will ask you to enter the account number for the account you want to access. Tele Banking will ask you for your PIN. Then Follow the simple Tele Banking instructions for the transactions or services you want.
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SMS Banking:  Balance enquiry  Transaction enquiry  Cheque Book request
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This note was uploaded on 04/22/2011 for the course BBA FIN 441 taught by Professor Dewanmostafiz during the Fall '10 term at BRAC University.

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Session 12 - FIN 441 Bank Management Electronic Banking...

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