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Online Banking

Online Banking. Presented by: Jason Letkemann Matt Woo Ronnie Morin. Today’s discussion points. Introduction to online banking Advantages/Disadvantages What one should be aware of as a consumer Measures one should take Conclusions Questions. Introduction.

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Online Banking

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  1. Online Banking • Presented by: • Jason Letkemann • Matt Woo • Ronnie Morin

  2. Today’s discussion points • Introduction to online banking • Advantages/Disadvantages • What one should be aware of as a consumer • Measures one should take • Conclusions • Questions

  3. Introduction • Dramatic increase in recent years • 8% (1999) to 30.8% (2003) of Canadian households • Online banking continues to grow

  4. Advantages • The are five primary advantages to online banking: • Convenience • Ubiquity • Transaction speed • Efficiency • Effectiveness

  5. Disadvantages • There are four main disadvantages to online banking: • Lengthy set-up time • A steep learning curve • Bank site changes • Trust

  6. What one should be aware of as a consumer • Make sure the bank is legitimate • History of the institution • Be careful of fraudulent websites • Make sure that the bank insures deposits • Security measures taken by the bank

  7. Measures one should take • User name/password • Logging off • Public access • Security • Software programs • Review statements

  8. Conclusion • Online banking has revolutionized the way many people do their personal business • Safe practices/procedures • Bank responsibilities

  9. Questions ?

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