Online Banking Web Application Development

Online banking, also known as e-banking, internet banking or virtual banking is an electronic payment system that enables users to carry out financial transactions of the banks or other financial institutions through the bank’s official website. Online banking is in contrast to the branch banking which was the traditional way in which customers accessed banking services. Online banking facilities are now available through mobile phone applications as well which makes it even easier for customers to access their bank accounts and conduct their banking transactions.

There are several advantages of online banking and mobile banking to the customers as well as the bankers.

The following are the advantages for the bankers offering online banking and mobile banking:

• The bank branches need not have to be opened for longer hours and the transactions can be met with even after the closing hours of the bank.
• Since all the processes would be automated and also since most of the processes are done by the customers, there can be significant decrease in the number of staff required to run the bank.
• Other expenses of the banks like rental costs, paper cost and electricity costs are also reduced.
• Because of these reduced costs, it becomes easier for the banks to advertise attractive offers and thus in turn increasing the number of customers to the bank.

Apart from these there are several advantages to the customers using online banking services:

Several banks use the online banking templates available by creativewebmall.com to provide their online services to their Indian customers. Their templates are easy to use for the website designers.