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Virtual Banking

Beginning of Essay
TABLE OF CONTENTS 01.00............ EXECUTIVE SUMMARY 02.00............ TRENDS IN RETAIL BANKING 03.00............ ABOUT THE INTERNET 04.00............ VIRTUAL BANKING AND APPLICATIONS 04.01............ SMART CARDS 05.00.. ....

Middle of Essay
.... more convenient ways to do their banking. An Ernst and Young study (Technology in Banking Report) concluded that "nothing changes in the banking world if customers cannot get financial services when and where they wish...this means anywhere, at any time." Statistics show that ATM's, telephone banking, and home banking account for over fifty percent of all banking transactions today, and total non-branch activity is growing at fifteen percent a year. In one survey (Web-Tech, Inc., May 17, 1995), eighty-two percent of 18- to 34-year olds polled preferred banks with 24-hour service. Customers are also demanding a more sophisticated mix of products ....

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