Online banking

Abstract

Over recent years, technological developments in the Information and Communications Technology industry have ensured that the internet has become a significant part of man’s way of life. For instance, there is tremendous popularity on the use of social sites, electronic commerce, and internet banking. Such use of the internet has created a global network in a cyberspace that connects everyone together regardless of one’s geographical location, economic status, religion, or race. As a result, the trade sector, the finance sector, the media industry, and all other sectors that enable the world to run have had to depend on technology for normal function, and on the internet as a way of associating with the public. For instance, the fact that banks have stayed in the forefront of technological advances has led to significant value addition, and improvement of their products and services offered. Therefore, this paper discusses the use of technology in the finance sector, particularly internet banking in today’s world, and the various factors associated with it.