How the banking industry has been affected by online banking Dissertation

How the banking industry has been affected by online banking - Dissertation Example Telecommunication systems and technologies help the bank to reach customers and provide them with not only general information but also the opportunity to perform interactive services of offline banking transactions like payment, receipts and transfer of funds (Aladwani, 2001). However Sullivan (2002) is critical of the technology and advises the banks that adopt internet banking to develop different methods of conducting business and speculates that internet will destroy old models and concepts of banking and will have profound influence on the banking industry. Online banking though offers variety of services resulting in better customer satisfaction giving personal experience (Karjaluoto, et al, 2002), it is often accompanied by risk factors which is why there is a need to carry out a research to study how the online banking has affected the banking industry. Background Traditionally banks used the internet to provide general information about the banks, services offered and other information to the customers. The incredible growth of internet has changed the way banking was processed with the entry of virtual banks like Compubank and Net.B@nk, providing customers with financial services over the internet and low cost or no fees as these banks do not have branches thus reducing the operating and fixed costs by replacing employees with technology (Jun and Cai, 2001). In order to sustain their competitiveness in the market, the traditional banks went online in order to provide better customer service, allow the customer access the services from the internet, make payment, receive and transfer funds online without standing in queue. According to a June 2006 study by the Pew Internet and American Life Project, 43 percent of internet users or about 63 percent of American adults bank online (Patton, 2006). Online banking allows 24/7 customer service, borderless transactions, speedy service, effective banking transaction assisted with more sophisticated tools and s ervices providing optimum security (Magoon and Vasisth, 2006). According to Plunkett (2008) companies that offer ATMs, physical branches and online services find the combination to be very effective as it costs a great deal less to service a customer who primarily relies on online services to manage accounts and ATMs to withdraw cash. Consumers who use online services seem to be educated, have large bank balances, better credit ratings and create higher levels of profits than customers who opt for traditional banking, the view which is also agreed and found by Sullivan (2000) that bank can generate a large number of Internet transaction if it has sizeable customer base. However, Plunkett (2008) states that maintaining accounts security are the major challenge to online banking as they have often been subject to attacks by hackers, scam artists and virus writers. It is further stated that success in online banking seems to be dependent on physical locations as consumers still wanted a branch to solve their queries. In a study carried out by Rose (cited in Jun and Cai, 2001), it was found that most of the banks, evaluated for service quality, showed an unsatisfactory level of service and argued that online banking has become complicated which may cause many problem than it can solve. Various studies

Out of Africa, Biological Adam and Eve Essay Example | Topics and Well Written Essays - 2000 words

Out of Africa, Biological Adam and Eve - Essay Example All that we know about Adam and Eve is that they were the first human beings on earth. They were banished from heaven and sent to earth as punishment. Human brain inquires many questions over this small statement. Is this a true tale? Were Adam and Eve really the first human beings? If they were punished or banished from heaven then why are we here? And, is this all a punishment? Theology and science have been into cold war on these topics from the very beginning. This is because science accepts logic and evidences however, religion expects one to believe in whatever is told without any doubts. The aspects of the existence of universe and that of mankind are discussed side by side in this assignment. Adam and Eve are the first two human beings i.e. male and female, created by God. He wanted them to live in heaven and gave them superiority over the other creations of His. He made every possible luxury available to them but ordered them to avoid only one thing. He ordered them to stay away from one tree. That tree is termed as tree of knowledge which contained the knowledge of evil and good in it. Some mythological tales state that the tree of knowledge had â€Å"apples† on it. Satan misguided Eve and made her go near the tree. She being the only companion of Adam convinced him to accompany her. On this act God became angry with them and banished them from garden of heaven. He expelled them from heaven and made them spend their lives on earth. Also, he did not keep their lives free of tension or evil. It is in many mythological tales that God made humans suffer by giving women childbirth pain and by making men face the hardships of earning livelihood and farming etc. It is also found in historic writings and theological information that they were expelled to earth and sent to Africa. This tale is what we all know but how we are connected to Adam and Eve and how our roots connect with Africa is still a mystery. There are many paintings made by people of dif ferent faith over this incident. They all tell something different yet all are common at the point of naming both the humans as Adam and Eve. The topic under discussion throws light over Adam and Eve existence, their expulsion from heaven, their lives on earth, their multiplication and migration. Bombarded with philosophy, theology and science, the questions of human race existence are answered to unravel the facts unknown to most of our generation. Part. 2: Out of Africa, Biological Adam and Eve Adam and Eve were the first human couple due to which we are here today. This is the little piece of information we all have. There are numerous things dwelling between the above mentioned two simple lines. Let us discuss the religious, scientific and logical aspects of this simple story which starts becoming complex as we analyze its different aspects. 2.1 Religious Aspect about the existence of Adam and Eve According to the religious perspective, Adam and Eve were meant to live in Eden an d enjoy God’s bounties without having any unfulfilled desire. God created every luxury in heaven for them. He gave them superiority over other beings and excused them from the hardships of life (House and Grover, 2009, pp.31-36). House and Grover (2009, pp.32) state that Mattew Henry exemplified Eve to be created from Adam’s rib because God did not want him to live alone. The woman created from the rib has the logical justification of not to rule over man, be by his side for his support, to be guarded and loved.