WEB BANKING Meaning and
Definition
-
Web banking, also known as online banking or internet banking, is a digital service provided by financial institutions that enables customers to perform various financial transactions and services through a secure website or mobile application. It allows users to access and manage their bank accounts conveniently from any location, using their personal computers, smartphones, or tablets.
Through web banking, customers can perform several actions, such as checking account balances and transaction histories, transferring funds between accounts, paying bills electronically, and applying for loans or credit cards. This platform also allows users to set up automatic bill payments, request account statements, and receive alerts for account activity.
Web banking ensures security by implementing encryption technologies and advanced security measures to protect user information and financial transactions from unauthorized access or fraud. It requires users to authenticate their identities through passwords, security codes, or biometric information.
This banking method offers several advantages such as 24/7 accessibility, eliminating the need for physical visits to bank branches, saving time and effort. It provides users with a real-time overview of their finances, offering greater control over their financial activities. Additionally, web banking often includes features like budgeting tools, financial planning resources, and investment management options.
Overall, web banking has revolutionized the way individuals perform banking tasks, making financial management more convenient, efficient, and accessible for customers around the world.
Common Misspellings for WEB BANKING
- qeb banking
- aeb banking
- seb banking
- eeb banking
- 3eb banking
- 2eb banking
- wwb banking
- wsb banking
- wdb banking
- wrb banking
- w4b banking
- w3b banking
- wev banking
- wen banking
- weh banking
- weg banking
- web vanking
- web nanking
- web hanking
- web ganking
Etymology of WEB BANKING
The term "web banking" is a combination of two words: "web" and "banking".
- "Web" refers to the World Wide Web, which is a system of interconnected documents and resources that can be accessed over the internet.
- "Banking" refers to the business activity of providing financial services, such as accepting deposits, loans, and managing accounts.
The word "web" emerged from the term "World Wide Web" coined by Sir Tim Berners-Lee in 1989. It became popular with the growth of the internet in the 1990s. As internet technology progressed, various industries, including banking, started using the term "web" to describe the online services they offered.
Therefore, "web banking" specifically refers to the provision of banking services and transactions through the internet or the World Wide Web.
Infographic
Add the infographic to your website:
