E-BUSINESS

The World of E-Banking in Botswana and the UK

The World of E-Banking in Botswana and the UK

INTRODUCTION

The e-banking market is one that is experiencing a period of dramatic change, both in terms of users and product. This time of change is expected to continue in the future, making for some exciting times in the industry. Internet banking has been the major success story in the industry. A number of new functions have become available to Internet banking for consumers, such as applying for a loan or extension of an overdraft. In the past, customers had to visit a bank branch to ask the bank manager for a loan, but now this can be done online in a much shorter period of time. As more users access or think about Internet banking it is very important for banks to ensure that their website is user friendly. As people use banking websites more often it is integral that they find them easy to use and do not find that a competitor's website is better in terms of user experience. This paper discusses and investigates the world of e-banking (the use of the internet and any form of phone banking) in Botswana and the UK.

DISCUSSION

Banking with a mobile phone through SMS, or text messages, is very popular in developing countries. One of the factors behind its success is that people often have a long way to travel to their bank branch if they live in a rural community. By using an SMS banking service, people can save a whole day by not having to travel several hours to the nearest bank branch. The main reason that Internet banking has been unpopular in rural or developing areas is purely to do with accessibility. In the world today there are around 5 billion mobile phones, but in some developing countries less than 1% of the population has access to the Internet. Fears about security when using SMS message are low in these areas, because using an electronic device to manage money is safer than carrying large amounts of cash around.

Critical Analysis of e-Banking

E-Banking In UK

Internet banking has been embraced by a large percentage of the UK population and this looks set to grow in the coming years. The leading UK banks continue to add features to their websites to encourage customers to switch to online banking instead of visiting their local bank branch. Telephone banking has seen a steady fall in users for a few years but there is still a large number of users who are loyal to this service. Telephone banking looks safe for the short term, but banks might to start to investigate cutting telephone banking in the long term. At the same time, consumers might shift towards managing their money with their mobile telephone. At the moment the market is under developed compared with some other nations, but the technology currently exists and the market should rapidly expand in 2011 and for the foreseeable ...