Electronic banking is comparatively new construct in the Asian country. Erstwhile solely the foreign banks operational in the Asian country like normal leased Bank, HSBC, etc provided it. These foreign banks managed to realize competitive advantage with the introduction of electronic banking for the primary time in the Asian country. As a result, the native business banks began to lose their market to those foreign business banks. in order that they reacted terribly quickly. initial time it absolutely was combined, currently a number of the banks area unit giving Electronic banking services even only. Jap Bank Ltd. is that the leading native business banks in the Asian country to supply foremost electronic banking services. In terms of adoption of E-Banking, we will divide our banking sector into a few basic classes
1. Classical Banks.
2. trendy Banks.
3. Electronic Banks.
CLASSICAL BANKS
The Classical bank includes those business banks, that don’t offer or offer little E-banking facilities. In our country these class chiefly includes chiefly –
• Nationalized business banks
1. Sonali Bank
2. Janata Bank
3. Agrani bank
4. Rupali Bank
• Specialized banks
1. Asian country Shilpa Bank (BSB)
2. Rajshahi Krishi Unnayan Bank
3. Bank of little Industries and Commerce Asian country Ltd.
4. Asian country Shilpa Rin Sangstha (BSRS)
5. Asian country Krishi Bank (BKB)
• Local non-public business banks-
1. The Oriental bank Ltd.
2. initial security bank Ltd.
3. Social investment bank Ltd.
4. Al-Arafah bank
5. the quality Bank Ltd.
6. Asian country Commerce Bank Ltd.etc
These banks area unit termed as classical as a result of this Bangladeshi banks still currently chiefly follows the manual procedure for securing the precious data and assets of consumers. Except Agrani bank and Janata bank these banks area unit still in babe level automation. each of those 2 banks has launched ATM card sharing with different banks and EFTS like cold cash, Q-Cash except these 2 facilities, these banks has no different E-Banking facilities like on-line banking, banking, net Banking. All the NCBs in Asian country use the computer code named as Bexibank. Besides this, they conjointly use 2 most generally used computer code named laptop bank and NIKASH developed by the Asian country Bank.
These classical banks haven't any centralized information system. As a result, they invariably lack the specified effective coordination among totally different units, needed data to create right call at the right time, incurs high overhead prices. The branches of those classical banks don't seem to be connected through a computer network or WAN or MAN. the correct coordination and harmonization between branches and head workplace of those banks area unit greatly weak. they can't take the correct call at the correct time and manage their loans and deposit portfolio achieved shopper satisfaction. Services provided by these banks within the classical stage area unit obsolete and lacks the fight.
But it's a matter of hope that the highest management of those business banks is seriously pondering full automation of their operations each at the branch level and at the top workplace level.. however to try and do this they face some common issues like –
• Huge range of branches everywhere the Asian country even outside the country and for the aim of automation vast investment is important.
• Most of the branches area unit within the rural areas wherever there aren't any trendy electronic communication facilities.
• Most of the users or purchasers of the banks area unit poor and uneducated village individuals having no data concerning electronic banking and can't afford it at the present price level.
• Most of the officers of those banks within the classical stage particularly the state in hand one's area unit aggie and can't perceive and area unit reluctant to simply accept trendy electronic banking. to show around these banks initially the obsolete mentality of those officers of the classical banks.
In spite of those shortcomings of these banks within the classical stage try to convert themselves into the trendy electronic banks and build them able to vie with different industrial banks
MODERN BANKS
Currently, a number of the banks of Bangladesh square measure providing electronic services to their customers we tend to cannot say they're utterly following electronic method. as a result of they provide a number of the functionalities of the entire electronic banking like intra-bank transactions, Letter of Credit (LC) and exchange etc. just in case of inter-bank transactions, financial organization authority handles the procedure all the banks square measure termed as trendy banks this can be the biggest phase of economic banks among the 3. These industrial banks that square measure rather more innovative, flexible, and proactive in their operation. they're quite a reception in managing their assets and liabilities. Banks further as staff square measure beneficiated once implementing data technology in Bank as a result of this method has some blessings over the ancient system. blessings square measure as follows:
• Process handling becomes quicker. It includes day finish method, month finish method, monthly/yearly interest calculation; fastened deposit receipt method, theme method and loan method etc.
• In ancient system, to accomplish audit, governing body ought to attend each bank. once IT implementation they are doing not ought to attend banks rather they'll collect a similar data through network and audit report is generated at intervals jiffy.
• In the ancient system, it's time dependent to transfer cash from town to remote space and additionally a matter of some investment. throughout the transfer time the money is idle therefore it’s a good loss for the bank further as customers. The electronic system is want to transfer cash at intervals some seconds (Intra-bank).
of these trendy banks have somewhat common options like-
• Trying to launch or a minimum of having planned to initiate on-line banking Telebanking etc in close to future.
• Trying to follow selling ways of others
• Providing ATM card and in some cases MasterCard facilities
• Initiating trendy banking ideas like one-stop services, serving the underserved market, and endlessly change their service and products portfolio.
• Providing fast transfer of remittances with the assistance of international cash transfer unions like the Western Union, categorical cash, and cash Gram.
Following square measure a number of those industrial banks, that fall within trendy banks class in our country, offer|which give|which offers} ATM services on the shared basis and about to provide on-line banking and any branch banking.
Pubali Bank Ltd.
Mercantile Bank Ltd.
National Bank of Asian country
National Bank Ltd.
International Finance Investment and Commerce bank Ltd
United banking concern Ltd.
Uttara Bank Ltd.
National Credit and Commerce Bank Ltd.
Prime Bank Ltd.
The Mutual Trust Bank Ltd.
National Bank of Asian country
State Bank of Asian country
Habib Bank Ltd
Arab Bangladesh Bank Ltd.
National Bank of Asian country
Southeast Bank Ltd.
Some of the electronic banking services provided by these trendy industrial banks square measure represented below:
• Electronic fund transfer services:
IFIC bank Ltd. Mercantile bank Ltd. Pubali bank Ltd. AB bank Ltd Agrani bank is providing electronic fund transfer services on shared basis within the name of Q-cash.
• CIB Report Generation:
Bangladesh Bank has the access Any|to any or all} different banks, therefore, it's terribly simple task to keep up an
integrated info of all customers specifying their credit and debit data with every bank
• ATM Card:
Mutual trust bank, Prime Bank Ltd. The Premier bank Ltd. is presently providing severally charge account credit facilities underneath the name of VISA. Besides the town bank Ltd. is providing another charge account credit that offers twin currencies withdrawal facilities. however, the cardboard process amount of those banks is comparatively long than that of ordinary Chard Bank.
• Any branch Banking:
At present Mutual Trust bank Ltd. banking concern of Asian country, Habib Bank Ltd. commercial bank of Asian country square measure giving any branch banking to any or all their purchasers. Mercantile Bank Ltd. IFIC bank Ltd. NCC bank Ltd. provide associated branch banking services to solely a particular cluster of purchasers UN agency square measure able to pay a quantity of additional annual fee for the usage of that service. commercial bank Ltd. United banking concern Ltd. Southeast bank Ltd. Prime bank Ltd. hope and composition to produce any branch banking services.
.
Software used
All the fashionable banks use 2 common software package developed by Asian nation bank named NIKASH for check clearing functions and computer bank for maintaining the ledger of purchasers. Besides Dacca Bank Ltd. and gap bank Ltd. uses FLEXCUBE, Mercantile bank Ltd. and Mutual Trust Bank Ltd. uses FLORA Bank, the town bank Ltd. and Arab Asian nation Bank Ltd. uses FINALE.
Electronic Banks
Electronic banking as a phase of electronic business, which, in turn, encompasses all sorts of business performed through electronic networks. Banks during this class ar a lot of electronically service orientating than the preceding industrial banks. Electronic bank embraces those industrial banks, that uses subtle laptop and networking technology to carry on their day-after-day banking business. All of their business method in maintained and dead electronically. Following ar those banks, that fall within the category of Electronic Banks
Two basic aspects of electronic banking ar the character of the delivery channel through that activities ar performed, and also the means that for patrons to realize access to those channels. ordinarily, delivery channels embrace ‘closed’ and ‘open’ networks. ‘Closed networks’ haven't any such membership necessities. Currently, wide used access
devices through that e-banking product and services may be provided to customers embrace the purpose of sale terminals, automated teller machines, telephones, PCs.
Here we tend to divide the electronic banks into 2 classes.
a. native Electronic industrial banks:
1. Jape Bank Ltd.
2. BRAC Bank Ltd.
3. Bank Asia ltd
4. Dutch Bangla Bank Ltd
5. Jamuna Bank
6. Islami Bank Asian nation Ltd.
b. Foreign Electronic industrial banks:
1. commonplace hired Bank Ltd. (SCB)
2. HSBC
3. Citi bank sodium
4. banking concern of Ceylon Ltd.
5. Woori Bank
6. Bank Alfalah etc.
Features of the Electronic bank
With business processes changing into progressively digitized, business models, and, with them, the chance structure of credit establishments, are dynamical. the subsequent characteristics of E-banking are thus at the middle of banking supervisors ’interest.
• Overcomes national borders
Owing to the virtual nature of electronic commerce, the dealings of banking business is not any longer confined to national borders. abundant identical applies to the link between bank product and non-bank product. meaning supervisors can collaborate even a lot of closely with foreign higher-up authorities than within the past.
• Depends thereon
• Card services
With I-Banking one will readMasterCarddetails. One will read mastercard statement, verify the minimum quantity due, request for a credit limit increase and even build a web card payment.
• Enhances competition
Several factors have conspired to induce this impact. The larger ease with that costs and product may be compared has increased market transparency; the market entry barriers complete spanking new|for brand new} competitors are lowered; the spatial and temporal constraints on competition are removed; web or on-line banking customers show very little brand loyalty; and e-banking customers ar focusing ever a lot of on prices and profit margins.
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