International Journal of Accounting Research

Relationship among Internet Banking and Bank Performance

James Lucas^* Department of Finance, University of Harvard, Cambridge, USA
^*Correspondence: James Lucas, Department of Finance, University of Harvard, Cambridge, USA, Email:

Received: 10-Jan-2022, Manuscript No. IJAR-22-15197; Editor assigned: 13-Jan-2022, Pre QC No. IJAR-22-15197 (PQ); Reviewed: 24-Jan-2022, QC No. IJAR-22-15197; Revised: 31-Jan-2022, Manuscript No. IJAR-22-15197(R); Published: 07-Feb-2022, DOI: 10.35248/2472-114X.22.10.254

Description

Internet Banking, also known as net-banking or online banking, is an electronic payment system that enables the customer of a bank or a financial institution to make financial or non-fiscal deals online via the internet. This service gives online access to nearly every banking service, traditionally available through an original branch including fund transfers, deposits, and online bill payments to the guests.

Internet banking can be entered by any existent who has registered for online banking at the bank, having an active bank account or any financial institution. After registering for online banking installations, a customer need not visit the bank every time he/ she want to avail a banking service. It is not just accessible but also a secure system of banking. Net banking doors are secured by unique Stoner/ Client IDs and watchwords.

Following are the features of net banking that make this electronic system fairly in trend:

• Net banking provides easy access to all banking services

• Guests can check their balance and trade history easily at any point in time

• It’s easy to make bill payments and fund transfers

• Net banking offers a secure platform to perform several banking deals

• Every customer has his/ her unique banking ID and word

• Guests can indeed apply for a loan or insurance through internet banking

• Net banking offers the strictness to upgrade disbenefit/ credit cards along with the ease to block the cards whenever demanded.

• Guests can contemporize their primary and secondary addresses easily.

The advantages of internet banking are as follows:

acuity: You can avail the banking services round the timer throughout the time. Utmost of the services offered are not time- confined; you can check your account balance at any time and transfer finances without having to stay for the bank to open.

Easy to operate: Using the services offered by online banking is simple and easy. Multitudinous discovery transacting online a lot easier than visiting the branch for the same.

Convenience: You need not leave your chores ahead and go stand in a line at the bank branch. You can complete your deals from wherever you are. Pay avail bills, recreating deposit account instalments, and others using online banking.

Time effective: You can complete any trade in a matter of a numerous beats via internet banking. Finances can be transferred to any account within the country or open a fixed deposit account within no time on net banking.

Exertion tracking: when you make a trade at the bank branch, you will admit acknowledgement damage. There are possibilities of you losing it. In distinction, all the deals you perform on a bank’s internet banking gate will be recorded. You can show this as substantiation of the trade if need be. Details analogous as the payee’s name, bank account number, the amount paid, the date and time of payment, and remarks if any will be recorded as well.

Bank performance

•The term ‘Performance’ means carrying into execution or achievement; or accomplishment of specific exertion, or the performance of an undertaking of a duty.

•‘Bank performance’ may be defined as the reflection of the way in which the resources of a bank are used in a form which enables it to achieve its objects. Likewise, the term bank performance means the handover of a set of pointers which are reflective of the bank’s current status and the extent of its capability to achieve the asked objects.

Empirical studies on various countries reveal that internet banking increases performance of the bank. Internet banking provides advantages to banks as well as guests’ demand have played a truly important part in spreading of internet.