Finance Banking

New Solutions In Online Banking

Online banking has been there for quite a sometime now but not everyone is using it because there are fears over online bank account security. There are many countries where online banking has still not got a good response may be it is due to lack of knowledge about online banking.

It is essential for banks to educate all its customers about online banking so that more and more customers can use it. It is essential that some solutions banking institutions should immediately develop to make sure that they get more customers and their existing customers remain satisfied and happy with their service.

New solutions in online banking are extremely essential and it should also include customer relationship management and customer retention management because both play vital role in expansion of business and are very essential component for growth of every business including online banking.

New solutions introduced by the banks for online banking should be customer friendly otherwise attracting more customers would be extremely difficult and impossible. The new solutions banking institutions devise for online banking must allow customers to easily connect their internet banking account with their debit as well as credit cards and also with other electronic money transfer accounts like paypal and moneybookers.

Banks have to adopt certain new solutions for online banking to increase its customer base. Lets us check few more solutions banking institutions can adopt for online banking.

v Give more

To attract more customers for online banking provide high interest rate on their savings. This new solution will ensure that many people will opt for an online banking account.

v Free transactions

Banks should adopt new solutions in online banking like providing free transactions. This will help the banks to get more online users.

v Enhance security

Security is a major concern while using online banking hence new solutions should be introduced from time to time to protect the banks online network and the accounts of online banking customers. The banks should introduce some kind of security device for online customers through which account authorization should be done. Such device will ensure that hacking won’t be possible without it even if someone has your login details.

v Zero balance

Another new solution to increase customers is to provide zero balance online banking account to every working individual, housewives and even college students.

v Allow everyone

The banks should allow everyone to open an online banking account irrespective of their citizenship provided they submit requisite documents including their tax information and details of their profession.

These are some of the solutions which banks should introduce in order to attract more online clients and it will also help them to retain their existing customers.

Tips and comments:

I personally believe new solutions in online banking are essential to attract more customers. The banks have to provide fool-proof security to its online banking customers hence for this they have to work continuously for upgrading their online security system so that the banks online network and the accounts of all its online customers is safe and secure. Banks also should not charge their customers for both inter and intra bank transactions.

By HANIF QAZI, published at 07/19/2011
   Rating: 5/5 (10 votes)
New Solutions In Online Banking. 5 of 5 based on 10 votes.

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