How to do Banking the New and Easy Way
Friday, October 10th, 2008Posted by Ivan
Gone are the days of and lining up and queuing long lines to conduct one’s banking needs and services. Today, the tag line is “Click is replacing the brick.” And with the advent of the internet that started it all, banking has ten on a new meaning, with most banking needs now made available and can be performed via electronic means anytime, anywhere and anyhow.
A check around the banks in town will tell you that electronic banking is now the order of the day, if the Bank does not offer electronic banking or its associated product and services such as e-debit, credit cards for convenience banking services, it is unlikely for the organization to remain in business for long.
Today’s banking services can be performed over a myriad of devices and channels, be it at the conventional branch teller service center and outlets or a range of so-called e-channels comprising the ubiquitous self-service devices such as ATMs, Cheque Deposit Machines, Cash Deposit Machine, Kiosks, Telephone Banking, Mobile Phone Banking, Web/Internet Banking, Interactive Voice Center or Call Center.
Customers have never had it so good, with such a multitude of channels to suit their needs and preferences. The associated ATM, Debit and Credit Cards with linkages to the respective accounts at the financial institutions, have also foster much quicker, speedier and convenient banking services that can be performed in the comfort of the home or remotely so long as there is an internet or telephone connection.
Apart from this, banks have also come together and collaborated in a lot of ways, to facilitate inter-bank and cross-institutional transactions and payment. Such collaboration has also seen the effort being extended to cross countries at the regional level. For example, ATM accounts for some banks now offer cross-country withdrawal from ATMs for countries such as Indonesia, Singapore, Thailand, China etc.
Banks and financial institutions have invested tremendous amount of money into building such infrastructure and likely to continue in the near future. And different banks have also lined up their own respective initiatives and programmes to out-do each other to capture the share of wallet of the customer. One cannot deny the fact that today’s banking is so much more convenient and easy compare to the olden days. Such convenience is likely to improve further with most banks lining up many projects to improve customer convenience, satisfaction and overall service excellence.
What have some local banks done about this?
Find out More >> AsiaBanking&FinanceJun/Jul2008
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