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Internet Banking: Reliability And Accessibility Issues

Abstract
Internet banking renders location and time irrelevant, and empowers customers with greater control of their accounts. Banks achieve cost and efficiency gains in a large number of operational areas. This paper addresses the aspects of reliability and accessibility from a banking enterprise point of view and puts forth present day solutions to problems involving these issues. An Indian perspective of Internet banking is also looked at in order to gaining a better perspective regarding the situation.

Table of Contents

1. Introduction … … … 3
2. Problem Description… … … 4
2.1 Internet Banking: Definition… … … 4
2.2 Internet Banking Risks: Focus on Transactional Risk… … … 4 2.3 Synopsis of the Problem… … … 6
3. A Closer Look at Reliability and Accessibility … … … 6
3.1 Reliability … … … 6
3.2 Accessibility … … … 7
4. Solution Architecture… … … 8
4.1 Reliability… … … 8
4.1.1 Secure Socket Layer (SSL) … … … 11
4.1.2 Public key Infrastructure … … … 13
4.1.3 Identity Authentication … … … 13
4.2 Accessibility 14
4.2.1 Availability … … … 14
4.2.2 Scalability… … … 14
4.3 N-Tier Architecture … … … 14
5. Internet Banking: The Indian Perspective… … … 15
5.1 Emergence of Internet Banking in India and its Impact… … … 15
5.2 What deters Internet Banking in India… … … 15
5.3 Factors determining the success of internet banking… … … 16 5.4 The Four Step Approach… … … 16
5.5 Case Study: ICICI Bank’s Internet Banking Strategy… … … 17
6. Impact of Internet Banking on E-commerce… … … 18
7. Conclusion … … … 18

1. Introduction
With the rapid diffusion of the Internet, banking in cyberspace is fast becoming an alternative channel to provide banking services. Banks view online banking as a powerful "value added" tool to attract and retain new customers while helping to eliminate costly paper handling and teller interactions in an...