In this survey I seek to check out one of the big worldwide financial company called Barclays and focus very much on its internet banking. Barclays has got 300 years of experience in banking (baclays. com 2010). Barclays lender offers internet bank and serves a huge amount of customers on earth. The article will also give an overview of the assistance proposed by Barclay's internet bank and a deep explanation will get about how this internet bank is beneficial to the population.
There are several services provided by Barclays internet banking. The internet banking services offered by Barclays are not different from the services provided by other banking companies which get excited about internet banking. A number of the transactions which can be done through internet banking are as follows (lawyerment. com);
Furthermore, Barclays online bank allows an individual to start his bank-account, do personal savings and purchases, pay loans and mortgages, pay insurance as well as to contact international banking. Barclays internet banking also allows students to possess their students account, approve their loans, share trading and so many more services.
Extend to which internet bank is beneficial to society
In order to give a common sense on the amount to which internet banking is effective to society, a couple of things should be considered. These are benefits and drawbacks of internet banking to society. The assistance proposed by Barclay internet bank are beneficial to modern culture and detrimental in another way. So for me to give a view on the magnitude to which this internet banking is effective to society, I am going to also use the advantages of internet bank as given at (Barclays. co. uk) as well as the general benefits and drawbacks of internet banking.
ADVANTAGES OF INTERNET BANKING
Convenient and easy
Barclays lender provides free online bank and the services are given any moment needed. With internet bank, the users pays their bills, transfer their money, and check their balances while they are simply home. Whenever something urgent occurs for example in paying the bills, users won't need to visit the bank but they can do their ventures right from their homes whenever they get access to internet. For a few others who go to work from their bank or investment company branches, it becomes easy for them to gain access to their accounts everywhere you go they are. Additionally it is possible to use your cellular phone to access your loan provider information.
Time efficient
When opening an account, lots of time is taken in doing the paper work. But using internet bank, the necessary methods are clearly provided for users. In the case of Barclays, the required information for users is provided on the necessary websites. This helps it be easy for business people because they don't really waste most of their time sitting on queue or finding where in fact the standard bank is. Barclays provide information on getting an online consideration.
Safety
Barclays provides protection for users of its internet bank services though many ways. Included in these are making their regular checkup with their systems to make certain there are no problems, provision of security methods like automated logoff, systems which can sense and protect the account from strike by internet hackers. The bank maximizes its risk management to ensure that every protecting measure is performed to ensure protection of the accounts. Furthermore enough information is given to people regarding the way they should keep their login information- for example they should not send their login information to some people via some unnecessary and unprotected mails. Barclays took its full responsibility in protecting the privacy of the users' information. Included in these are some warnings if the user will use the service unnecessarily.
International banking
With the globalization that is taking place in a fast growing world such as this, people need everything to be fast. People now are calling their business beyond their borders without any restriction. Internet bank allows users to gain access to their lenders accounts and do whatever orders they want even though they can be beyond your country where their banks are. It really is now easy to get hold of business from outside your country. Generally, not all business has their braches worldwide but with internet banking it becomes possible to do everything from wherever you are.
Accessibility
With the fast growing world and technology, internet is becoming accessible to large elements of the earth. Internet services are offered a day every day in many elements of the earth. Provided the option of internet access, all users can log into their respected accounts.
Value
Internet banking is effective to people in the sense that the running costs are less. When using other bank ways, will need to pay a certain amount of money to go to a loan company to copy money, or to go where there is an Automated Machine to produce a copy. But using online bank all these can be performed while lying on your foundation.
DISADVANTAGES OF INTERNET BANKING
Forgery
Many circumstances are reported about the forgery that occurs in online bank. With the advancing technology many people have devised some websites they may use to access other people's user titles and passwords. As a result if the banking companies don't have strong safety measures from this many people would lose their money therefore of hackers. However as I said reputable lenders like Barclays have also devised safety precautions against hackers. These include computerized log off, sites which detect hackers, protection of users' personal privacy, teaching users how to protect their computer systems from hackers and so forth.
Less trust
People generally do not put much trust in machine than they put on people. So the reason why there are only few people doing online banking, it's because less trust is given to just how these machines operate. More and more people will not want to take chances by doing online bank.
CONCLUSION
I have used Barclay loan company as one of the major financial provider using internet bank. With the info that I from the Barclays websites as well as other reputable websites within an effort to find out to what prolong internet banking is effective to society. I have included several services made available from internet banking including paying of bills, making of transfers and so forth. Then in responding to to what expand online banking is beneficial, I searched the advantages and down sides as shown above, some advantages included how easy it is to do all of your transactions anytime, anywhere as covered in convenience. For cons I also included the chance of forgery that you can do by other folks to obtain other's login details and utilize them to steal their money. However after weighing advantages and disadvantages I discovered that there are more benefits than disadvantages of internet banking to culture.
In conclusion, internet banking is beneficial to the population to a greater extend.
