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6century is characterised by the use of information and communication technology which has revolutionised the daily working and living patterns. The rapid diffusion of the Internet has radically changed the delivery channels used by the financial services industry. A new era of banking, termed “e-banking” or “online banking” has emerged, where customers can perform their financial transactions electronically in which they are increasingly expected to view account balances and transaction histories, pay bills, transfer funds between accounts, order cheques, manage investments and stock trading. Electronic banking is defined as “the provision of retail and small value banking products and services through electronic channels,
Last edited by irum; 07-Feb-2009 at 20:48. Reason: rephrase
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