The first projects related to online banking шт premier banks were implemented by Western banks back in the 1980s. First depositors were given the opportunity to check their accounts by online banking. The spreading of the Internet has allowed leading banks in the world to introduce systems of access to information, and then to operations with accounts. In 1995, the world’s first virtual bank was created in the USA – Security First Network Bank. The main reason for the creation of this bank was the fact that in the USA there was a restriction on banks opening branches in other states. It has been successfully operating to date, being one of the best banks of its kind.
Along with stationary banks that provide Internet banking services, online banks and online loan companies are successfully operating in the West – organizations that do not have a conventional department for working with clients: all banking operations are performed via the Internet. The only exception is the connection of the client and the bank staff via telephone in case of emergency. The cost of attracting and retaining customers for online banks is quite high. The task of banks is to transfer users from the stage of obtaining information to the stage of e-transactions.
In the United States, almost all the largest banks provide online banking, and the Internet accounts for 3%, in Europe – 4% of the total volume of all banking operations.
Online banking as a type of service, despite certain difficulties, is developing quite rapidly. In the face of serious competition from traditional banks, online banks are forced to offer a significantly higher rate – up to 4% per annum, while traditional banks rarely issue more 0.5-0.6%.
In the West, the number of banking operations carried out through the network has already exceeded 30% of the total volume of transactions conducted by customers of credit institutions. The number of Internet banking customers in Europe and the United States has already exceeded 120 million people, while in Europe alone Internet banking turnover is today 5 billion euros. According to Gomez Advisors, 62% of banks surveyed provide real-time transaction information on the Internet.
The total volume of operations carried out outside of bank branches, that is, through ATMs, phones and computers, in the USA is growing annually by 15% and now amounts to about 75%; 80% of banks offer home banking services – from e-payment of bills to managing investment portfolios. Currently, in Western Europe such as Germany, Spain, France and the Netherlands, there are 2 times more online banks than in the United States. The following banks use the highest rating among consumers on the quality of the online services provided: Security First Network Bank; Wells Fargo Bank; Citibank Salem Five Cents Saving Bank; Bank of America.
Do not forget that the online banking market itself originated in the United States and at the moment is still one of the most developed in the world. First of all, this is expressed in the fact that a client of an American bank can receive the maximum number of services via the Internet: in addition to all operations with an account, currencies, trading on stock markets, a client can insure its deposits, receive various loans, get personalized financial information etc. Also, unlike in Europe, access to the online banking system itself for customers of some American banks can be carried out by entering the plastic card data on the bank’s website.
In the United States, almost all the largest banks provide Internet banking services, including Citicorp, Bank of America, Wells Fargo, Bank One, First Union. A total of 86 banks from America’s 100 largest banks provide online services. Despite the fact that all banks try to provide their customers with a full range of financial Internet services, some banks have their own specific features in Internet services. So, Wells Fargo allows its private customers to integrate their system with such personal finance accounting programs as Microsoft Money and Quicken, and Citibank allows the client to draw up an annual payment scheme for utility and other services.
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