DISSERTATION REPORT

ON

ONLINE BANKING OF AXIS BANK

SUBMITTED IN PARTIAL FULFILLMENT OF THE
REQUIREMENT OF THE DEGREE OF MASTERS IN
BUSINESS ADMINISTRATION(BF)

GURUKUL KANGRI UNIVERSITY

SUMBITTED TO:
Mr. Chandan Gupta

SUBMITTED BY:
Tarun Kumar Joshi

Asst Lecturer
FMS

MBA(BF)
FMS

FACULTY OF MANAGEMENT STUDIES

GURUKUL KANGRI UNIVERSITY, HARIDWAR
2009-2011

Table of Content
Executive Summary
Introduction
Types of E-Banking
Features
Internet Banking
Internet Banking in INDIA
Features of Internet Banking
Advantages & disadvantages
Mobile banking
Customer requirements for Mobile Banking applications
Characteristics of Mobile Banking
Mobile Banking use cases
Mobile banking :No wires, No worries, New customers
Dangers of E-Banking
Securities of E-Banking
Conclusion
Bibliography

Executive Summary
E-banking- The execution of financial services via internet,
reducing cost and increase in convenience for the customer to access the
transaction. e- banking is an umbrella term for the process by which a
customer may perform banking transactions electronically without visiting a
brick-and-mortar institution. The following terms all refer to one form or
another of electronic banking: personal computer (PC) banking, Internet
banking, virtual banking, online banking, home banking, remote electronic
banking, and phone banking. PC banking and Internet or online banking are
the most frequently used designations. It should be noted, however, that the
terms used to describe the various types of electronicbanking are often used
interchangeably.

The ever increasing speed of internet enabled phones & personal

assistant, made the transformation of banking application to mobile devices,
this creative a new subset of electronic banking i.e. mobile banking. In 1999
& 2000 mobile banking as an established channels, still seems to be a distant
prospect.

The internet is revolutionizing the way the financial industry conducts

business online, has created new players who offer personalize services
through the web portals. This increase to find new ways and increase
customer loyalty to add the value to this product and services.

Banks also enables customers lifestyle needs by changing and

increasing preference for speed and convenience are eroding the traditional
affinity between customer and branch offices as a new technology disinter
mediates traditional channels, delivering the value proposition hinges on
owing or earning the customer interface and bringing the customer a
complete solution which satisfies their needs. Smart card is a new trend
which provides the opportunity to build an incremental revenue stream by
providing an ideal platform for extended application and services. Banks are
well positioned to play central role unit in future M-commerce market.
Banks have strong relationships with corporate and business customers and a
wide experience in providing them with corporate banking services. Bank
provides a multimedia of small and large retailers with acquiring
functionality

in

credit

card

transactions.

Customers

have

trusted

relationships with banks and a lower propensity to switch banking providers.

COMPANY PROFILE
AXIS BANK
Axis Bank India, the first bank to begin operations as new private banks in 1994 after the
Government of India allowed new private banks to be established. Axis Bank was jointly
promoted by the Administrator of the specified undertaking of the

Unit Trust of India (UTI-I)

Life Insurance Corporation of India (LIC)

General Insurance Corporation Ltd.

Also with associates viz. National Insurance Company Ltd., the New India Assurance
Company, The Oriental Insurance Corporation and United Insurance Company Ltd.
Axis Bank in India today is capitalized with Rs.405.17 Crores. It has more than 200
branch offices and Extension Counters in the country with over 4293 Axis Bank ATM
proving to be one of the largest ATM networks in the country. Axis Bank India commits
to adopt the best industry practices internationally to achieve excellence.
Axis Bank has strengths in retail as well as corporate banking. By the end of December
2004, Axis Bank in India had over 2.7 million debit cards. This is the first bank in India
to offer the AT PAR Cheque facility, without any charges, to all its Savings Bank
customers in all the places across the country where it has presence.
With the AT PAR cheque facility, customers can make cheque payments to any
beneficiary at any of its existence place. The ceiling per instrument is Rs. 50,000/-.The
latest offerings of the bank along with Dollar variant is the Euro and Pound Sterling
variants of the International Travel Currency Card. The Travel Currency Card is a
signature based pre-paid travel card which enables travelers global access to their money
in local currency of the visiting country in a safe and convenient way. The Bank has
strengths in both retail and corporate banking and is committed to
adopting the best industry practices internationally in order to achieve excellence

BUSINESS DESCRIPTION:
The Bank's principal activities are to provide commercial banking services which include
merchant banking, direct finance, infrastructure finance, venture capital fund, advisory,
trusteeship, forex, treasury and other related financial services.

SUBSIDIARIES
The Bank has set up five wholly-owned subsidiaries:

Axis Securities and Sales Ltd.,

Axis Private Equity Ltd.,

Axis Trustee Services Ltd.,

Axis Asset Management Company Ltd. and

Axis Mutual Fund Trustee Ltd.

Axis Securities and Sales Ltd. was set up in December 2005 (originally
incorporated as UBL Sales Ltd., renamed as Axis Sales Ltd. in 2007

and now rechristened as Axis Securities and Sales Ltd. on 5 April 2010) to market credit
cards and retail asset products. The objective of setting up the subsidiary was to build a
specialized force of sales personnel and optimize operational efficiency by providing
greater control over the sales effort in comparison with a Direct Sales Agent (DSA)
model. The scope of activities of the subsidiary has now been enlarged to include retail
broking.
In October 2006, the Bank set up Axis Private Equity Ltd., primarily to carry on
the activities of managing equity investments and provide venture capital support to
businesses.
Axis Trustee Services Company Ltd. was established in May 2008 to engage in
trusteeship activities (e.g. acting as a debenture trustee, the trustee to various
securitization trusts as well as other trusteeship businesses).

Axis Asset Management Company Ltd. was set up primarily to carry on the
activities of managing a mutual fund business in January 2009 and in the same year, Axis
Mutual Fund Trustee Ltd. was set up, to act as the trustee for the mutual fund business.
Joint Venture
Bussan Auto Finance India Private Limited
Based on RBI guidelines, details of transactions with Joint Venture Companies are not
disclosed since there is only one entity / party in this category.

Axis Bank is today one of the most competitive and profitable banking franchise
in India. Which can be clearly seen by an analysis of its comprehensive portfolio of
banking services including Corporate Credit, Retail Banking, and Business Banking?
Capital Markets, Treasury and International Banking.
The Position in the financial year 2009-2010 was as under.The paid up capital of the Bank as on 31 March 2010 rose to Rs. 405.17 crores from
Rs. 359.01 crores as on 31 March 2009
Profit after tax up 38.51% to Rs. 2,514.53crores
Net Interest Income up 35.76% to Rs. 5,004.49crores
Fee & Other Income up 23.80% to Rs. 3,123.40crores
Deposits up 20.38% to Rs. 141,300.22crores
Demand Deposits up 30.38% to Rs. 66,029.54crores
Advances up 27.94% to 104,343.12Rs. crores
Retail Assets up 29.72% to Rs. 20,922.90crores
Network of branches and extension counters increased from 835 to 1,035
Total number of ATMs went up from 3,595 to 4293
Net NPA ratio as a percentage of net customer assets up to 0.36%from 0.35%
Earnings per share (Basic) increased from Rs. 50.61 to Rs. 65.78
Proposed Dividend up from 100% to 120%
Capital Adequacy Ratio stood at as 15.80% against the minimum regulatory norm of
9%

2.2 Board of Directors

PERSON

DESIGNATION

Dr. Adarsh Kishore

Chairman

Smt. Shikha Sharma

Managing Director & CEO

Shri M. M. Agrawal

Deputy Managing Director

Shri J.R. Varma

Director

Dr. R.H. Patil

Director

Smt. Rama Bijapurkar

Director

Shri R.B.L. Vaish

Director

Shri M.V. Subbiah

Director

Shri K. N. Prithviraj

Director

Shri V. R. Kaundinya

Director

Shri S. B. Mathur

Director

Shri P J Ojha

Company Secretary

Mission
Customer service and product innovation tuned to diverse needs of individual and
corporate clientele.
Continuous technology up gradating while maintaining human values.
Progressive globalization and achieving international standards.
Efficiency and effectiveness built on ethical practices.
Customer Satisfaction through providing quality service effectively and
efficiently.

Core Values

Smile, it enhances an individuals face value is a service quality stressed on

Periodic Customer Service Audits.

Maximization of Stakeholder value.

Success through Teamwork, Integrity and People.

UNIT: AXIS BANK LIMITED

Plot No. 17 to 24, Vithalrao Nagar, Madhapur, Hyderabad 500 081
Tel. No. : 040 23420815 to 23420824 Fax No. : 040-23420814
Registered Office
Trishul, 3rd Floor, Opp. Samartheshwar Temple, Law Garden,
Ellis Bridge,
Ahmedabad 380 006. Tel No. : 079 2640 9322 Fax No. : 079 2640 9321
Email: p.oza@axisbank.com/rajendra.swaminarayan@axisbank.com
Web site: www.axisbank.com
Central Office
Maker Towers F, 13th Floor, Cuffed Parade, Colaba, Mumbai 005.
Tel. No. : 022 67074407 Fax No. : 022 2218 6944/2218 1429

2.3 Axis bank offers its services majorly in four parts:

A. Personal
B. Corporate
C. NRI
D. Priority banking

A. Personal
Axis bank offers various services for individual domestic customers, which includes
services like
1. Accounts
2. Deposits
3. Loans
4. Cards
5. Forex
6. Invstments
7. Insurance
8. Payments
9. Other services

The accounts offered by axis bank for its customers are:

i.

EasyAccess Savings Account

EasyAccess Savings Account gives instant access to customers money

anywhere, anytime. Possessing a range of unmatched features, it has been
devised to better suit the convenience of our eclectic client base.
These services can be availed with a minimum quarterly average balance
of Rs. 5,000 in metro or urban centers, Rs. 2,500 in semi urban centers and
Rs. 1,000 in rural centers.

Krishi Savings Account

. This product has been specially designed keeping in mind the unique
requirements of a farmer and true to its nature has been called the Krishi
Savings Account. This account is offered with the requirement of
maintaining the half-yearly average balance of Rs 1000 only.
Being a Krishi account holder, farmers are entitled to access Axiss wide
network of more than 1000 branches and 4055 ATMs across 440 cities.
They can now easily carry out their transactions through any of the
branches or ATMs.

ii.

Prime Savings Account

At Par Cheque Facility with an enhanced limit upto Rs. 1,00,000

Free cash withdrawal upto 5 transactions at other bank ATM's.
Free monthly statement of account
Free DD/PO (drawn on Axis Bank Centers)
Free Passbook
International Debit card with an Accidental Insurance cover upto Rs. 2
lakhs (Issuance charge waived) [To keep your personal accident insurance
cover activated, you should have made a purchase transaction in 365 days
prior to the day of the incident & should have maintained an average
quarterly balance of Rs 5,000 (urban & metropolitan branches) or Rs
2,500 (rural & semi-urban branches) as the case may be in the two
quarters before the date of the incident.]*
Increased cash deposit/withdrawal limits at non home branches
Option of automatic movement of excess funds in the savings account to
higher earning fixed deposits
Access through more than 1000 offices & 4055 ATMs
24*7 Telebanking, Internet banking and Mobile Banking

 Free monthly e-statement

iii.

Corporate Salary account

Benefit to Employees
No minimum balance criteria.
Unparalleled Access - Anywhere banking facility through our network of
Branches, ATM and Internet banking facility.
At Par chequebooks payable locally at all Axis Bank locations.
International Debit cum ATM cards with enhanced Cash withdrawal
facility and other value add ons.
Online Banking with funds transfer, online shopping and bill payment
options.
Depository services with free online trading accounts.
Meal Cards on a master card platform.
Employee Reimbursement accounts as a savings account variant.
Preferential pricing on loan products and credit cards and other banking
products & services*.

iv.

Womens Savings account (smart privilege account)

In today's busy world it's tough being a working woman. Right from
shuttling between a job and family to taking care of her finances she has to
be on her toes all the time. Keeping this in mind, we at Axis Bank have
designed a savings account best suited for the woman of today. With the
Smart Privilege Account, you can manage your money and your life and

as well as enjoy a host of lifestyle privileges. Furthermore Axis Bank's

Smart Privilege Account ensures that you have enough time for all the
important things in life.

v.

Priority banking account

As a Priority banking customer you will have access to an exclusive
'Priority Banking Lounge' at branches. This will allow you to conduct your
financial transactions in utmost comfort and confidentiality through an
exclusive Relationship Manager.

vi.

Demat Account
Axis Bank is a registered member (Depository Participant) of NSDL. In
this system, physical security holdings are converted into electronic (or in
other words, dematerialized) holdings. Axis Bank has been enrolled as a
Depository Participant by the NSDL - India's first depository. You can
avail of all the depository-related services by just opening an account with
NSDL through Axis Bank.

vii.

Senior citizens Account

Axis Bank's Senior Citizen Savings Account has been designed keeping in mind the
fact that a senior citizen's banking requirements are wholly different and require special
considerations.Axis have introduced Senior Citizen ID card for their Senior Privilege
patrons.
ID card acts as an age proof enabling them to redeem every advantage that they are
eligible for. This card will help them to avail of certain never-before Senior-citizen
benefits at various stores, service providers and installation across the nation.

Apart from provide you with the power to claim great benefits, card also act as
emergency information medium. In case of emergencies, it provides the doctors and
authorities with vital data like their blood group, allergies, illnesses, address and
emergency contact details. This ensures that they are well looked after in any situation,
no matter where they are.

viii. Defence Salary Account

Defence Salary Account from Axis Bank is a product designed keeping in mind how
tough a life in the Defence Forces is. Not only does it come to them absolutely free, no
minimum balance is required either. They can also access the entire Axis Bank
network, including more than 896 branches and over 4055 ATMs (as on 31st December
2009) no matter where they are posted.

ix.

Trust/NGO Savings Acoount

Axis Bank's Trust Account is an effort to offer thoughtful banking for
people who spend their lives thinking of others. It is a complete banking
solution for Trusts, Associations, Societies, Government Bodies, Section
25 companies and NGOs, so that the organisations can devote all of their
time to their noble motivations.

Azaadi- No Frills Account

Its a savings account that doesn't require a minimum balance. Experience a host of
unparalleled features and heightened convenience with Azaadi Account.

A customer qualify for Azaadi if

The sum total of all credits to his account does not exceed Rs 1 lac during the Financial
year,
They do not intend to maintain an account balance higher than Rs 50,000 at any given
instant, and


x.

They are unable to furnish full documentation as required ordinarily for fulfilling of
account opening norms
Resident Foreign Currency (Domestic) RFC(D) Account
A Resident Foreign Currency (Domestic) Account, RFC(D), with Axis Bank
entitles its customers to maintain non-interest bearing current account in four
major currencies (USD, EURO, GBP and Japanese Yen). There will be no
ceiling on the balances held in the account. Chequebooks denominated in
USD or GBP or EURO or Yen will be issued on these accounts with 25
leaves. The cheques thereby branded as RFC (Domestic) Account will not be
presented in clearing and will be payable only at the issuing branch.

xi.

Pension Savings Bank Account,

This account from Axis Bank, is specifically, designed for Pensioners

(Existing & Prospective) of Central Govt. Civil Ministries/ Departments &
Defence Ministry keeping in mind the fact that a Pensioners banking
requirements are wholly different and requires special consideration.

1. Deposits offered by Axis Bank:

i.

Fixed Deposits

Axis Bank offers simple reinvestment Fixed Deposits (at very competitive
interest rates), which can be opened with a minimum investment of Rs 10,000.
Customers can make additions to your deposit in multiples of Rs 1,000 each.
The tenure of their deposit must be a minimum of 6 months.

ii.

Recurring Deposits

Axis Bank's Recurring Deposit scheme will allow you with an opportunity to
build up your savings through regular monthly deposits of fixed sum over a
fixed period of time.
Features
Recurring deposits are accepted in equal monthly installments of minimum
Rs 1,000 and above in multiples of Rs 500 thereafter.
The fixed number of installments for which a depositor can opt are 12, 24, 36,
39, 48, 60, 63, 72, 84, 96, 108 and 120 months.
Transfer of Accounts - a recurring deposit account can be transferred from one
office of the Bank to another branch.
The amount of installment once fixed, cannot be changed .
Installment for any calendar month is to be paid on or before the last working
day of the month. Where there is delay in payment of installment, one can
regularise the account by paying the defaulted installment together with a
penalty (at present it is @ PLR plus 4 % for the period of delay).Fraction of a
month will be treated as full month for the purpose of calculating the penalty.

 The total amount repayable to a depositor, inclusive of interest, depends on the

amount of monthly installments and the period of deposit.

iii.

Encash 24

The Encash 24 (Flexi Deposit) gives the liquidity of a Savings Account coupled
with high earnings of a Fixed Deposit. This is achieved by creating a Fixed
Deposit linked to your Savings Account providing you the following unique
facilities:

Maximum Returns:
customers money is no longer idle. As soon as the balance in your Savings
Account crosses over Rs 25,000, the excess, in multiples of Rs 10,000 will be
transferred automatically to a higher interest earning Fixed Deposit Account. The
maturity of fixed or term deposits formed as a result of transfer of money from the
Savings Bank account will be for a maximum period of 181 days and the interest
will be calculated on simple interest rate basis.

Maximum Liquidity:
The money parked in Fixed Deposits as a result of the above mentioned sweep out
from your Savings account can be easily accessed by issuing a cheque, withdrawing
through ATM etc. This amount is automatically reverse swept from the most
recently formed Fixed Deposit in units of Rs 5,000 to the Savings account
whenever the balance in your Savings account falls below Rs 25,000. The amount
broken form your Fixed Deposit will earn interest rates at the applicable rate for the
period that the deposit was held with the Bank. The remaining amount of Fixed
Deposit will continue to earn the contracted rate of interest.

iv.

Tax Saver Fixed Deposit

In the Finance Bill of 2006, the government had announced Tax benefits to Bank Term
Deposits which are of over 5 year tenure u/s 80C of IT Act, 1961 vide Notification
Number 203/2006 and SO1220 (E) dated 28/07/2006.
The salient points of the scheme notification are; (a) Fixed tenure without premature
withdrawal. (b) Year is defined as a financial year. (c) Amount limited to Rs. 100
minimum and Rs. 100,000 maximum. (d) Bank will issue a Fixed Deposit Receipt that
shall be the basis of claiming tax benefit. (e) Term deposit under this scheme cannot be
pledged to secure a loan.

3.Loans Offered by Axis :

Home Loan
Car loan
Personal Loan
Loan against Shares
Loan Against Property
Loan Against Securities
Education Loan
Consumer Loan

4.Cards Offered By Axis bank

i.

Credit Cards

ii.

Debit Cards

iii.

Platinum Advantage Credit Card

Platinum Credit Card
Gold credit card
Silver credit card
Corporate Credit Card
Trust chemists credit card
Shriram credit card
eShop cad
Easy credit card

Priority Platinum Chip Debit Card

Priority Debit Card
Classic Debit Card
Gold Debit Card
Gold Plus Debit Card
Business Gold Debit Card

Prepaid Cards

Travel Currency Card

Payroll Card
Corporate Gift Card
Gift Card
Rewards Card
Remittance Card
Meal Card
Annuity Card

5. orex offered by Axis bank

Travel Currency Cards

The Travel Currency Card gives its customers a 24-hour access to
money. Withdraw funds in the local currency from any Visa or Visa
Plus ATM's (Automated Teller Machine) as well as pay for all your
purchases in any country you visit, anywhere in the world.

Outward Remittances
Axis Bank offers Outward Remittance facilities enabling its customers
to remit money abroad through reliable and quick transactions.
They can send money abroad for reasons more than one: education,
medical purpose, gifting, maintenance for loved ones or donation for a
cause.

Foreign Currency Travellers Cheques

American Express Traveler's cheques are widely accepted globally as
a mode of payment in many parts of the world. It is always worthwhile
taking some of your foreign exchange in travelers' cheques as it is a
great backup to cash and cards.

Foreign Currency Cash

Carrying small amount of local currency or internationally acceptable
currency variants in wallet while travelling overseas is reassuring and
convenient - especially to make payments for the services you may
require on your arrival at the destination.

6. Investment Services offered by Axis bank

Gold Investment
Online trading
Mutual funds
Demat Account

7. Insurance Services offered:

Safe Guard

Axis Bank and Bajaj Allianz General Insurance offer the 'Safe Guard' personal
Accident Insurance cover. A unique policy that offers insurance coverage at
premiums that are extremely competitive and exclusively meant for Axis Bank
customers.

Business Advantage
Business is built by investing so much hard work, time, energy and money. The
inverstor could face heavy losses if the business premises are burgled or if
machinery breaks down. Therefore this policy safeguard their investment with an
insurance cover that protects against losses due to unforeseen calamities.

Safe Home
Safe Home, an insurance policy exclusively designed for Axis Bank customers,
which provides protection for your property and valuables at your home.

Family health
Family Health insurance programme provides a comprehensive health insurance
that covers customer, theirr spouse and 3 dependent children up to the age of 18
years.

Safe Home Plus

Home is a dream, which is turned into reality with sweat, pain, happiness, energy
and time. Axis Bank helps you to protect this dream against unforeseen
calamities.

Silver Health
Bajaj Allianz's Silver Health Plan for senior citizens protects them and their
spouse in case they need expensive medical care. They get cashless benefit or
medical reimbursement for hospitalization expenses due to illness or accidents.

Travel Companion
Whether travel for business or pleasure, international travel involves risk.
Medical treatment abroad can be expensive and one never knows when one would
require it. Having to spend for medical bills in foreign currency can be expensive
proposition. There are other difficult situations also, that one might face like loss
of passport or baggage. Bajaj Allianz's Travel Companion is specially designed to
help people deal with such situations while overseas travel.

Motor Insurance
Though it is easy to own a vehicle it is expensive maintaining a motor vehicle
especially in case of damage caused to your vehicle due to some unavoidable
circumstances or accidents. Bajaj Allianz's Motor Vehicle Policy helps in
maintaining vehicle in such situation.

Critical Illness
A critical illness plan means you can insure yourself against the risk of serious
illness in much the same way as you insure your car and your house. It will give
you the same security of knowing that a guaranteed cash sum will be paid if the
unexpected happens and you are diagnosed with a critical illness.

Jewellery Insurance
The only product of its kind in the industry, Jewellery Insurance provides
complete security for gold / jewellery, when it is worn by the policyholder in
person or while being carried to the bank lockers. Absolute security & coverage is
given against burglary & fire, in respect of items kept at home / bank locker.
Result: Complete peace of mind.

8.Payments services offered by Axis:

Bill Pay
Axis Bank's Bill Pay service enables you to make secure payments from the
comfort of your home or office. So its time to say goodbye to late payment fines,
long queues, lost bills, and commissions paid to local errand boys.

ECS
It

is an electronic clearing system that facilitates paperless credit / debit

transaction directly linked to your account and also provides for a faster method
of effecting periodic and repetitive payments.
Through

ECS

(Debit),

you

can

pay

all

your

Utility

bills

(electricity/telephone/Mobile bills, credit cards, etc), Mutual Fund (SIP),

Insurance Premium, Loan Installments, credit card payments, payments of
donations and other bill payments.

Tax ePayments
In this service, Income / Other Direct Taxes, as well as Central Excise & Service
Tax* through iConnect can be paid from account online and can get on-line
acknowledgement of the payment by way of a Cyber Receipt, including Challan
Identification Number (CIN) immediately after making the payment.

Direct tax Payment

The Bank is authorised for Collection of Income or Other Direct Taxes on behalf
of Central Board of Direct Taxes (CBDT) w.e.f 1 October, 2003.

Pension Disbursement
The Bank is authorised by RBI and Ministry of Defence for disbursement of
Pension to Armed Force (Army, Navy and Air Force) personnel through its 151
authorised branches across the country.

Other services offered by axis Bank to its individual customers are:

MOBILE REFILL : RECHARGE AT THE ATM

An individual can recharge his mobile talk time at any of our ATMs. He doesnt

even have to be an Axis Bank customer. All his need is a VISA debit or credit card. If he
is an Axis Bank customer, then he can also use his Axis Bank debit card (both VISA as
well as Master card).

LOCKER (Unmatched protection for your valuables)

A Safe Deposit Liker with Axis Bank is the solution to an individuals concern.

Located at select branches in cities all over the country, our lockers ensure the safe
keeping of an individuals valuables.
Advantages

Wide Availability: As on March 31, 2010 lockers are available at 944 branches
and extension counters.

Lockers available in various sizes.

Direct debits for locker rentals from your account rid you of the hassle in writing
out cheques.

Extended banking hours to operate lockers.

Competitive rentals.

ONLINE SHOPPING (Safe ans Secure internet Payment)

Axis Bank offers an individual the convenience of shopping at many major

Online stores from the comfort of his home or office. All he need is an Internet enabled
PC. He can choose & then get he items delivered at his doorstep. He can also avail of
numerous online services, get to know about the current special offers/discounts and get a
preview of the new items added on to the shelves by these online retailers/service
providers. He can shop as much as he like and conveniently make instant payments by
debiting his account through the secured payment channel, iConnect Our Internet
banking platform.

IPOSMART (Now invest in IPOs without letting go of your funds !)

An individuals Axis Bank savings account now makes IPO application a

seamless and hassle-free process. Instead of moving out funds from his account for
application to an IPO, the amount can now simply be blocked. Which means as long as
the IPO shares are not allotted, the funds stay with him and he also gain interest on them?
Plus he get the security of having the refunds directly unblocked and made available to
you, in his account itself !
The above service is being made available in accordance with the SEBI guidelines
on ASBA (Applications Supported by Blocked Amount).
Benefits

Interest on funds which otherwise would have moved out of your savings account.
No need to write cheques or make demand drafts.
Convenient and transparent management of funds.
Instant release / unblocking of funds after allotment / non- allotment of shares.

E-Statement

Axis Bank offers the facility of E-Statement. E-Statement are secure and electronic way
to receive statement of accounts from the Bank.

B. Axis bank offers Corporate services, like:

1. Exclusive Banking Redefined - Club50 Current Account
At a half yearly average balance of Rs. 50 lacs (Rs. 25 lacs at Semi - Urban /
Rural branches), this premium current account smoothly fulfills your daily

banking requirement.
Main Features:
Dedicate relationship manager

Lifestyle benefits/ privileges

Free doorstep banking

Free RTGS / NEFT Facility

Cash Management Services

Free International Business Gold Debit Card

2.Various types of Current Accounts to suit every business requirements

like:

The Banks offers a range of current account products to meet the needs of
the various customer segments such as Small Enterprises, Trade, Exproers,
Corporate and intuitions.

Normal Current Account

Business Advantage Account

Business Select Account

Business Classic Account

Business Privilege Account

Channel One Account

Current Account for Govt Organisations

Current Account for Banks

Current Account for Builders & Real Estate

Capital Market Current Account

Krishi Current Account

Business Global Current Account

Club 50 Current Account

Inland Road Transport Current Account

Travel, Tourism and Hospitality Current Account

Local Current Account Current Account for Pharma

Current Account for Chartered Accountants

These products offer flexibility to customers to choose from the above

option with varying minimum average quarterly balance commitments and
charges structure. In addition to conventional banking facilities, these accounts
offer Multi-City at Par payable cheque book facility and anywhere banking
facility across offer Multi city At Par payable cheque book facility and any
where banking facility across braches. Customers can access their account Online
through Corporate iConnect, Axis Banks Internet banking platform as also
through Tele-Banking facility and can receive account balance information on
mobile telephones and electronic mail. Customers are subject to transaction
charges including charges for non-maintenance of the committed balances.
Axis Bank brings different kinds of current accounts for different types of
businesses select the one that best suits an individuals business requirements.
Axis Banks Current Account came equipped with the following features to
give maximum value for an individuals money.
Features
Anywhere Banking
Axis Banks Current Account allows an individual to bank from all Axis
Banks branches and Extension counters. An individual can deposit cash,
withdraw cash, deposit cheque, and issue at-par cheques at any of Axis Banks

branches. So bank at an individuals own Convenience.

Instant Fund Transfer
An individual can transfer funds instantly between any of Axis Banks
branches. Funds transfers can be affected online, right from an individuals
through Axis Banks internet banking services.
Internet Banking
Axis Bank presents corporate iConnect a unique net Banking platform for
the current account customers. Available with multiply user IDs, depending on an
individuals needs. Access an individuals account at any time form anywhere. An
individual can transfer funds to his own accounts or to third party accounts within
Axis Bank & Inter Bank covering over 25,000 branches of various banks.
Corporate iConnect also permits transaction initiation by one user and approval by
another. An individual can also excuse bulk payments like salary and commission
across Axis Bank network right form his desktop.
At-Par (Multicity) Chequebook
Enjoy the benefits of Multicity Chequebook with Axis Banks current
Accounts. An individual cans issue cheques payable at par at all Axis Banks
branches across the country. An individuals cheques will be treated as local
cheques at more than 375 locations as on January 31, 2008.
ATM or Debit Card
With every Current Account (For proprietary and partnership concerns),
An individual can avail upto 2 ATM cum Debit cards, which allow an individual
round the clock access to his account from any of all Axis Banks ATMs all over
the country. An individual can withdraw upto Rs 40,000 a day.
Free Monthly Account Statement

By courier and daily on email.

Mobile Banking
Mobile Banking will enable an individual to bank with Axis Bank through
his mobile phone irrespective of where an individual are.

Fast track loans for SMEs

Wide range of products for the SME segment

Organised payment and collection solutions

Online tax payment or through vast branch network

Mobile Banking services available for Current Account

3.Credit Services by Axis bank

To large Corporates

To Agri Business:

For SME unites

Microfinance

4.Besides these services, Axis bank provides services in the

areas like:

Capital Market

Treasury

Cash management services

Govt. business

C. Non-Resident (External) NRE Saving Account

Any person resident outside India may open NRE account. This account
permits a NRI to hoed and maintain foreign currency earnings in Indian rupees.
The Principal and interest earned on these balances are freely reportable.
Whether an individual are a student, a professional, a salaried employee or
an entrepreneur, this account will meet all an individuals banking need.
Features
Low minimum balance requirement of Rs 5,000
Multicity cheque book which will permit An individual to make
payment via cheque across multiple locations
Mandate or Power of Attorney facility available so that in An
individuals absence from the country An individual can authorize his
relative or friend to operate conduct banking transactions on his behalf.
Free iConnect: 24 X 7 account access through secure internet banking
facility from anywhere and anytime.
Online shopping mall and utility bill payment facility be using Axis
Banks Internet based iConnect banking login.
Free personal accident cover of Indian Rupees 2,00,000 on Axis Banks
Debit Card (The insurance cover will come in force only after An

individual make his first successful payment transaction at any merchant

establishment.)*
Tax Advisory Services from Axis Banks empanelled consultants
Assistance to obtain Income Tax PAN Cards to make an individual
compliant with the tax regulations of the native lands.

C. Priority Banking Resident

In a segmentation study undertaken in 2002, it was found that 2.72 % of
Axis Banks retail customers contribute to nearly 49.05% of Axis Banks total
retail deposits.
The clients that bring a larger share of business to the Bank expect a
differentiated standard of service. This also makes business sense, as more often
than not, most of the business in a particular branch flows from a handful of
clients. Hence, Priority Banking was launched in order to cater to the needs of the
high net worth customers within the bank.
The product has at its core, the idea of providing a certain bit of
differentiation in service and treatment to a segment of its customers with a view
towards customer retention, acquisition and cross selling.
The nucleus of these services has essentially four important components
Personalized service
Investment advisory Services
Prefential pricing of banking products/services
Lifestyle privileges.
Most of Banks, private as well as foreign, offer a specialized banking service to
their elite customers. The definition of the value of relationship and services
offered differs across banks. In general, MNC banks define the HNI segment
taking into account the customers liability as well as, assail relationship with
the bank (Between 20-30 Lakhs and above) whereas the Indian private banks
only take in the savings bank balances and term deposits (Between 5-10 Lakhs
ans above).

Features
Priority Banking Lounge :
As a Priority banking customer an individual will have access to an exclusive
Priority Banking Lounge at branches. This will allow an individual to conduct
his financial transactions in utmost comfort and confidentiality through an
exclusive Relationship Manager.
Dedicated Relationship Manager
An individual will enjoy access to a dedicated Relationship Manager who will be
his one point contact at branch for all An his banking transactions thus ensuring
that An individual would neither have to move from one counter to the other nor
stand in queues to await his turn.
Home Banking
Experience the convenience of Axis Banks home banking facilities. Avail of free
cash and cheque pick-up delivery at an individuals or residence.
Exclusive Priority Banking International Debit card
This card allows an individual free access to all VISA ATMs in Idea. The card
also comes with higher ATM withdrawal limits; higher POS transaction limits at
merchant establishments, enhanced insurance over and a host of special discounts
and offers. An individual also get Prefential Interest Rates and lowered Processing
Fees on select Retail Loans.
Investment Privileges
Avail of assistance in financial planning. Investment advice market information
reports and invitations to investor meets are offered complimentary to an
individual.

 Lifestyle privileges
However, its all about just financial series. We aim to provide a different lifestyle
experience through Lifestyle privileges like exclusive invitations to movie
screenings, plays, music concerns and other special events sponsored by Axis
Bank, especially for Axis Banks Priority Banking Customers.
Other Banking Privileges
Enjoy a host of banking privileges like free at-par cheques,
demand drafts and pay orders, free passbook updates and
monthly statements.
An individual would also be entitled to two free minor accounts,
one free outward remittance per quarter and free Mobile banking.
As a Priority Banking customer, there would be no issuance charge on Axis
Banks Travel Currency Card.

Other SERVICES:
ATM
The bank has 4293 ATMs as on 31.03.2010. This includes all Axis Banks
onsite and off-site ATMs. All Axis Banks ATMs are connected to Axis Banks
Base 24 ATM switch, which in turn interacts with Axis Banks centralized core
banking software for transaction processing.
The Bank through its ATMs offers the following services
Banking Services:

Cash Withdrawal, with real time debit to customers account

Cash & Cheques Deposit

Balance Inquiry

PIN Charge

Other Services:

Mobile Airtime Refill for Hutch, Airtel, Idea, BPL, Cellular, RIM, Tata
Tele

Facility for Non UTI bank VISA card holders to refill their prepaid phones.

Life Insurance Corporation Premium Payment

Bill Payment e.g.: BSNL, MTNL

Funds Transfer (within own accounts)

Online Donations to Trusts & NGOs

Purchase and redemption of UTI Mutual Fund Schemes through the ATM

Strategic Tie-ups for ATM

We have also tied up with Western Railway (Mumbai), Central Railways
(Mumbai) Pantaloons, HPCL, and BPCL for setting up ATMs at their locations.
Almost all costs related to setting up and maintenance of an ATM network
is fixed. Thus, the challenge for the Bank has been to migrate customers to this
channel and develop new streams of revenues from this channel, in order to make
the channel viable. The Bank has achieved tremendous success in this regard. We
have been able to migrate about 90% of all cash disbursement transactions to Axis
Banks ATMs.
To generate direct revenue from the ATM Channel, the bank has
adopted 2 strategies :

ATM Sharing with other banks

New functionalities such as mobile airtime refill, bill payment & mutual
fund sales through which Axis Banks bank earns a commission.
The Bank has also set up ATM galleries at 3 location. Each of the Gallery

has 2 ATMs for the convenience of the customers, information kiosk, a card
operated touch-screen internet kiosk, though which the customers can access their
iConnect accounts with bank and perform their banking transactions such as funds
transfer, bill payment, balance inquiry, etc. A bill payment kiosk has also been set
up at this gallery.
The ATM Channel for the bank has been a major customer acquisition tool,
increasingly the channel is being seen as a customer servicing tool and all the new
value added services are part of that initiative.

Findings
Primary Data
Various people that included office staff help to collect the
primary data on the basis of interviews, thoughts & suggestion
.

Secondary Data
The Main sources of Secondary data were combination of
information from the internet, periodicals and books of the related topic.

Hypothesis
To understand about how e-banking activity is carried out and how it
is easy to use.

Limitations
Lack of information pertaining to the various angles of the report.
The topic is too vast to be covered in this project. These were main
problems encountered by myself.

INTRODUCTION
Traditional banks offer many services to their customers, including
accepting customer money deposits, providing various banking services to
customers, and making loans to individuals and companies. Compared with
traditional channels of offering banking services through physical branches,
e-banking uses the Internet to deliver traditional banking services to their
customers, such as opening accounts, transferring funds, and electronic bill
payment.
E-banking can be offered in two main ways. First, an existing bank with
physical offices can also establish an online site and offer e-banking services
to its customers in addition to the regular channel. For example, Citibank is
a leader in e-banking, offering walk-in, face-to-face banking at its branches
throughout many parts of the world as well as e-banking services through
the World Wide Web. Citibank customers can access their bank accounts
through the Internet, and in addition to the core e-banking services such as
account balance inquiry, funds transfer, and electronic bill payment,
Citibank also provides premium services including financial calculators,
online stock quotes, brokerage services, and insurance.
E-banking from banks like Citibank complements those banks' physical
presence. Generally, e-banking is provided without extra cost to customers.
Customers are attracted by the convenience of e-banking through the
Internet, and in turn, banks can operate more efficiently when customers

perform transactions by themselves rather than going to a branch and dealing

with a branch representative.
E-banking services are delivered to customers through the Internet and the
web using Hypertext Markup Language (HTML). In order to use e-banking
services, customers need Internet access and web browser software.
Multimedia information in HTML format from online banks can be
displayed in web browsers. The heart of the e-banking application is the
computer system, which includes web servers, database management
systems, and web application programs that can generate dynamic HTML
pages.
One of the main concerns of e-banking is security. Without great confidence
in security, customers are unwilling to use a public network, such as the
Internet, to view their financial information online and conduct financial
transactions. Some of the security threats include invasion of individuals'
privacy and theft of confidential information. Banks with e-banking service
offer several methods to ensure a high level of security: (1) identification
and authentication, (2) encryption, and (3) firewalls. First, the identification
of an online bank takes the form of a known Uniform Resource Locator
(URL) or Internet address, while a customer is generally identified by his or
her login ID and password to ensure only authenticated customers can access
their accounts. Second, messages between customers and online banks are
all encrypted so that a hacker cannot view the message even if the message
is intercepted over the Internet. The particular encryption standard adopted
by most browsers is called Secure Socket Layer (SSL). It is built in the web

browser program and users do not have to take any extra steps to set up the
program. Third, banks have built firewalls, which are software or hardware
barriers between the corporate network and the external Internet, to protect
the servers and bank databases from outside intruders. For example, Wells
Fargo Bank connected to the Internet only after it had installed a firewall and
made sure the firewall was sufficiently impenetrable.

On October 1, 2000, the

electronic signatures bill took effect, recognizing documents signed online
as legal. Some banks plan to begin usin electronic checks as soon as they
can work out various security measures. g
The range of e-banking services is likely to increase in the future. Some
banks plan to introduce electronic money and electronic checks. Electronic
money can be stored in computers or smart cards and consumers can use the
electronic money to purchase small value items over the Internet. Electronic
checks will look similar to paper checks, but they can be sent from buyers to

sellers over the Internet, electronically endorsed by the seller, and forwarded
to the seller's bank for electronic collection from the buyer's bank. Further,
banks seek to offer their customers more products and services such as
insurance, mortgage, etc.

Types of E-Banking
The common assumption is that Internet banking is the only method of online banking. However,this is not strictly the case, as several types of service
are currently available:

PC Banking - The forerunner to Internet banking has been around

since the late 1980's and is still widely used today. Individual banks
provide software which is loaded on to an SME's office computer.
The SME can then access their bank account via a modem and
telephone link to the bank. Access is not necessarily via the Internet.

Internet Banking - Using a Web browser, a user can access their

account, once the bank's application server has validated the user's
identity.

Digital TV Banking- Using the standard digital reception equipment

(set top box and remote control), users can access their bank account.
Abbey National and HSBC services are available via Digital TV
providers. One of its main selling points is that no account details are
transmitted via the World Wide Web;

Text Phone Banking - HSBC have introduced this service to allow

customers with text phones to check their balance, pay bills and
transfer money.

Internet banking can be split into two distinct groups:

Traditional banks and building societies use the Internet as an add-on

service with which to give businesses access to their accounts.

New Internet-only banks have no bricks and mortar presence on the

High Street. Therefore, they have lower overheads and can offer
higher rates of interest and lower charges.

E-Banking provide exceptional rates on Savings, CDs, and IRAs

Checking with no monthly fee, free bill payment and

rebates on ATM surcharges

credit cards with low rates

Easy online applications for all accounts, including

personal loans and mortgages

24 hour account access

It provides Quality customer service with personal

attention

It provides the quick services to their customers.

 Enables transfer of funds from one place to

another(banks).

Exchange of statisticals information amongs banks.

Enables foreign exchange operations.

Inter-bank applications like settlement of funds

between banks.

Provides facilities like demat operation,ATM

operation,online banking.

Internet Banking
Internet banking, sometimes called online banking, is an outgrowth of PC
banking. Internet banking uses the Internet as the delivery channel by which
to conduct banking activity, for example, transferring funds, paying bills,
viewing checking and savings account balances, paying mortgages, and
purchasing financial instruments and certificates of deposit. An Internet
banking customer accesses his or her accounts from a browser software
that runs Internet banking programs resident on the banks World Wide Web
server, not on the users PC. NetBanker defines a true Internet bank as
one that provides account balances and some transactional capabilities to
retail customers over the World Wide Web. Internet banks are also known as
virtual, cyber, net, interactive, or web banks.
This is basically the banking industry's attempt to jump on the "e-business"
band wagon. E-banking is a term that attempts to broadly describe today's
alternate delivery channels. Different banks - and vendors - will describe this
differently.
Rather than spending too much time on the term, I'd suggest you open a
dialogue with your customers about the types of services they are interested
in, and begin to prioritize your investment in these new services. Ideas
would include image delivery via Internet, Internet Commercial cash
management, and on-line bill pay.

MAIN CONCERNS IN INTERNET BANKING

In a survey conducted by the Online Banking Association, member
institutions rated security as the most important issue of online banking.
There is a dual requirement to protect customers' privacy and protect
against fraud. Banking Securely: Online Banking via the World Wide
Web provides an overview of Internet commerce and how one
company handles secure banking for its financial institution clients and
their customers. Some basic information on the transmission of
confidential data is presented in Security and Encryption on the Web.
PC Magazine Online also offers a primer: How Encryption Works. A
multi-layered security architecture comprising firewalls, filtering
routers, encryption and digital certification ensures that your account
information is protected from unauthorized access.

Internet Banking in India

The Internet banking is changing the banking industry and is
having the major effects on banking relationships. Even the Morgan
Stanley Dean Witter Internet research emphasized that Web is more
important for retail financial services than for many other industries.
Internet banking involves use of Internet for delivery of banking
products & services. It falls into four main categories, from Level 1 minimum functionality sites that offer only access to deposit account
data - to Level 4 sites - highly sophisticated offerings enabling
integrated sales of additional products and access to other financial
services- such as investment and insurance.
DRIVERS OF CHANGE
Advantages previously held by large financial institutions have shrunk
considerably. The Internet has leveled the playing field and afforded
open access to customers in the global marketplace. Internet banking is
a cost-effective delivery channel for financial institutions. Consumers
are embracing the many benefits of Internet banking. Access to one's
accounts at anytime and from any location via the World Wide Web is
a convenience unknown a short time ago. The six primary drivers of
Internet banking includes, in order of primacy are:
Improve customer access

 Facilitate the offering of more services

Increase customer loyalty
Attract new customers
Provide services offered by competitors
Reduce customer attrition

The banking industry in India is facing unprecedented competition

from non-traditional banking institutions, which now offer banking
and financial services over the Internet. The deregulation of the
banking industry coupled with the emergence of new technologies, are
enabling new competitors to enter the financial services market
quickly and efficiently.

Features of Internet banking

The features available from an on-line bank account are similar to those
which are available via 'phone banking or visiting the local branch. On-line
banking features do differ between the banks, but usually include:

Transfer of funds between accounts;

It brings efficiency in CRM(Customer relationship

management)

Make Payment of bills

Introduces new & innovative products &services.

View balance and statements;

Brings door to door services.

Create, view and maintain Standing Orders

Have evolutionary trend at a globle scenario.

Customer can View Direct Debits.

Advantages of Internet Banking

Refers to conducting banking transactions through internet. they are,
Opening & closing of accountes
Make the payments of merchandise transaction through Debit &
Credit cards.
It gives reliefs to their customer from carrying heavy cash.
Enables prompt & speedy operation to clients.
It saves lot of time to their customers &convenient to access.

Disadvantages of Internet Banking

Customer may have to face risky transaction & fraud.
Failure of power supply cause to break down of system.
Loss of heavy income at times of settlement of higher magnitude.
Cost involved in trainning staff may not be profitable specially in
times of attrition.

 Development of an attitude of lethargy.

Questionneirs
1. What is CITI Bank E-Banking? Why should customers apply
for the same?
Citi Bank E-Banking keeps the customers informed about the
significant transactions in their bank, credit card and demat
accounts promptly such as:
Bank Alerts - Salary credit, debit / credit of large amounts as
specified by them and cheque bounce
Credit Card Alerts - Approaching credit limit and Due date of
payment

of

credit

card

bill.

Demat Alerts - Shares debited and credited in their account etc.

Citi Bank E-Banking facility keeps them updated while they
requires.
2. What are CITI Bank E-Banking Alerts?

CITI Bank E-Banking Alerts is a facility through which they can

receive latest information about their bank, credit card and demat
accounts.
Alerts are sent to their mobile phone number as registered by them
with the Bank
3. Can customers avail of the CITI Bank E-Banking facility?
All CITI Bank customers having Savings Bank Account, Credit
Card (not being an Add on Card) and Demat Account can avail of
this facility. As and when Alerts are introduced for other CITI
Bank products, we shall intimate you through our website,
www.citibank.com/pfsuser/channels/e-banking/e-banking.htm
4. What are the alerts that customers subscribe for?
Currently, we are providing the following alerts based on their
with us:
A. Banking Alerts
Credit to your Bank Account of any amount of Rs.5000/- or
above as specified by you.

 Debit to your Bank Account of any amount of Rs.5000/- or

above as specified by you.
Salary Credit to the Bank Account *.
Cheque deposited in your Bank Account but bounced.
Account Balance above a specified amount.
Account Balance below a specified amount.
This will be subject to the appearance of the word 'salary' in
the narration of salary credit.

6 .How can customers subscribe to CITI Bank E-Banking?

Customers can subscribe to CITI Bank E-Banking by any one of
the following means:

Login to http://www.citibank.com/ and go to banking section

for banking alerts and credit card section for credit card
alerts.

Call up our 24 hour Customer Care Centre and request for

subscription for bank alerts and credit card alerts. Our
Customer Care Centre representatives will take you through
the identification process and subscribe you to CITI Bank EBanking.

14. What should customers do if they have further queries on this

facility?
For any further queries on CITI Bank alert facility, you may call
our 24 hour Customer Care Centre or write to the Account
Manager for clarification of the same. To write to the Account
Manager, Login to http://www.citibank.com/, go to the banking
section for the option "Write to Account Manager". You may also
write to Account Manager a customer.care@citibank.com

Mobile banking use cases

A mobile user has to be seen from his context when using the
application. Needs and expectations are not generic, but bound to
this context.
As a typical mobile banking user, we consider someone who
already is an electronic banking user shows significant affinity to
technology and often finds himself in situations where he can not
(or does not want to) rely an infrastructure necessary for electronic
banking.
In the following, we introduce four use cases. These have
been developed in the course of two group discussions; each group
consisted of mobile banking users and mobile commerce experts.
The groups focused on identifying real-life situations in which the
use of mobile banking provides an informational added value. The
resulting situations have been aggregated to the use cases The use
cases are not exhaustive, but representative: Each case stands for a
series of cases, which are similar in the depth of the desired
information and/or the conditions of the usage. For each use case

we identify the most important, concrete need that the user has in
this particular situation.

Use case 1: Request of account balance.

The user is in a mobile situation (e.g. in a department store)
and intends to know his account balance, e.g. to verify his account
before realizing a spontaneous purchase. Resulting need: Quick
obtainment of account balance.
Use case 2: Control of account movements.
The user is waiting for an important cash receipt on his
account. He intends to have the exact details of the cash receipt.
Resulting need: Continuous control over movements on the
account.

Use case 3: Instant payment.

The user is in a mobile situation and intends to make a
payment by bank transfer from his account. Resulting need: Instant
execution of a bank transfer.
Use case 4: Administration of the account.
The user intends to use spare time (e.g. using a train or
waiting on the airport) to administrate his account. Resulting need:
Quick and easy-to-use execution of transactions and administration
is possible.
business models and new ways to interact with customers.
The ability to perform banking transactions online has created new
players in the financial industry, such as online banks and brokers
who offer personalized services through their Web portals. This
increased competition is driving traditional financial institutions to
find new ways to add the value to their products and services, gain
competitive advantage and increase customer loyalty while also
attracting new, high-value clients.
Mobile and wireless technology, combined with the wide
variety of portable devices available today, enables new revenue

opportunities for financial services organizations. This provides a

new channel that can be used to refresh and expand the customer
base, attract prime customers and enhance loyalty. With mobile
and wireless technology, banks can offer a wide possibilities of
services to their customers, from the freedom of paying bills while
stuck in traffic, to receiving notification of a change in stock price
while having lunch, the convenience and time saving benefits of
wireless financial services are huge. The challenge, then, is how to
turn these possibilities into a reality for the customers.
Benefits

Description

Developing
Grow

new

customer base
and markets

wireless

applications

and

services targeted at the mobile mass

market will allow attracting new, highvalue customers into mobile banking
portal and expanding the reach to global
markets.

Increase
of
wallet

share The convenience of having personalized

customer wireless access to critical financial

information is an invaluable service for

customers on the move. Enabling the

execution of time-sensitive financial
transactions

anywhere,

anytime,

provides the opportunity to strengthen

the

relationships

with

existing

customers. This ultimately results in an

increased

share

of

transactions--preventing

the

customers'

them

from

taking a portion of their financial

business elsewhere.

Grow
number

assets,
of

transactions and
fees

Granting customers flexible access to

financial information and accounts
enables them to perform transactions
when it's most convenient for them. As a
result, they have the opportunity to
conduct transactions more frequently,
driving increased revenue from fees.
Brand and reputation for convenience,
service

and

innovation

will

be

strengthened and enhanced each time

Expand and

customers on the move stop to check

enhance brand their stock portfolio or to pay bills

presence

wirelessly. This also offers significant

potential to grow the market awareness
through word-of-mouth.

General conditions of mobile banking

Electronic banking is one of the most successful businessto-consumer applications in electronic commerce (EC).
Banks greatly support this not only because they could
meet their customers need for convenience but also because of the
enormous economic impacts in replacing a high-cost channel (bank
clerks) through a low-cost channel (a central web server) for
simple transactions, with the additional benefit of eliminating the
necessity for a media conversion.
Since users considered their mobile phone as a personal
trusted device making it to an integral part of their lives and more
and more of these devices became Internet- enabled, the regular
conclusion was the transformation of banking applications to
mobile devices as the next step of electronic banking development.
For mobile banking, the advantages even go much further
than for electronic banking: The high penetration of mobile phones
reaches all social levels; mobile applications disband the
limitations of electronic banking as they allow for a use anytimeanywhere and the subjective and objective security of the device is
higher than that of a personal computer. Despite all of this, more
than four years after the start of the first mobile banking

applications customers simply do not use them and utilization

figures stay very far behind all expectations (e.g. [1]). Mobile
banking as an established channel still seems to be a distant
prospect.
The reasons for this great disappointment are to be analyzed.
Doing so in the following sections, we do not intend to start with
current applications (which could mean biased) but from scratch,
with an analysis of the customer requirements to such applications.

Customer requirements for mobile banking

applications

Set of customer requirements

Technical requirements
Usage is possible with both kinds of devices
Adaptation to device
Usage regardless of network operator
Small amount of transmitted data

Usability requirements
Possibility to work offline
Simple data input method
Resumption of usage at the same point
One-Click-Request

Design requirements
Possibility to personalize the application

 Possibility to scale the application

Announcement of events
Wide range of functionality

Security requirements
Encrypted data transmission
Authorization of access
Simple Authorization

RESEARCH METHEDOLOGY
TITLE OF STUDY
Online Banking of Axis Bank

OBJECTIVES OF STUDY
Banking and finance can be called as the nerves of any
economic

system

as

they

accelerate

the

process

of

economic

development through canalization of adequate finace. It is hard to

anticipate development of efficient banking services in the country. No
doubt financial institutions play so important in economic development but
at the some time economic development determines the growth and
development of banking institutions the role of various kind of banking
institution. In economic development need not be emphasized.
Main objective of the study is to Critical appraisal of product & services
offered by axis bank. Some of the major objectives of the study include
the determination of the following:
Consumer awareness about the products and services provided by
the axis bank.
Consumer preference about various products and services.
Customers

perception

towards

private

Banking

and

their

expectations from private banks.

Customer satisfaction with the service provided by the bank.
Draw out with conclusions and suggestion based on the analysis
and the interpretation of data.

3.1

TYPE OF RESEARCH
Research is one of the most important parts of any study and

pertains to the collection of information and knowledge. Marketing

research is defined as the systematic design, collection, analysis, and
reporting of data and findings relevant to a specific marketing situation
facing the company. My project has been developed on has basis of both
exploratory and descriptive research. The research process depends
upon developing the most efficient plan for gathering the needed
information. Designing a research plan calls fro decisions on the data
sources, research approaches, research instruments, sampling paln, and
contact methods.

3.2

SAMPLE SIZE AND METHOD OF SELECTING SAMPLE

I chose a sample size of 40 respondents consisting of based on

judgment sampling All respondents were the customers of Axis Bank. The
method was simple random sampling.
Data Source
For this project both primary and secondary data were valuable
sources of information.
Secondary data
Secondary data provides a starting point for any research and offers
valuable sources of already existing information. Secondary data are the
easiest to gather and the cost of collecting this data is also very low. For
my project work it was collected through the help of various directories of
various

associations,

magazines,

newspapers,

websites

etc.

directories helped me in short lisitng people, for my target people.

Some of the directories made use of are as follows:

The

Telephone directory

Income tax office

City directory

Chartered accountant directory

Carpet industries directory

Indian medical association directory

Transporter directory

Lawyers directory

Builders & constructors directories

Primary data
Primary data are data freshly gathered for a specific purpose. For
my project work the primary data was collected by means of survey though
questionnaires.
Contact methods
Once the client had been decided now my task was how to contact
them, and for me there only two ways of contacting them.
1.

Personal interview:- this method was the most appropriate

way of survey, because by personal interview I came to know
about their feeling for Axis Bank.

2.

Telephone:- This method was also used by me once or twice,

keeping in mind the busy schedule of a few respondents.

3.6 SCOPE OF STUDY

Axis Bank is one of the most famous banks in India. The various
products and services offered by it include:

PRODUCT
Deposits (Saving account and current account)
Loans
Card
SERVICES
ATM
Mobile Banking
Internet Banking
Payment
Other Services
The deposit mix of an organization especially the Saving accounts
are the backbone of every bank as an ordinary man is most inclined to
invest in it due to its convenience and easy availability. This project deals
with the various customer concerns regarding these and tries to suggest
appropriate suggesting based on conclusions. I hope that this report would
be able to suggest some measures and draw attention of bank towards the
area of improvement.
3.7 Limitations of Study
The study was based on a very modest sample size hence cannot
be called as a representation of the views and opinion of the
majority.

 In a rapidly changing industry, analysis on one day or in one

segment can change very quickly. The environmental changes are
vital to be considered in order to assimilate the findings.
The conclusion arrived at are based on a very less experience of
researcher in this field.

DATA ANALYSIS & INTERPRETATION

Q.1 Which are group do you belong (Age wise) ?

Interpretation :
After looking this bar graph, it can be said the middle-aged group are
the main customer of the banks as they occupied almost 75% of this
graph. The bank has a huge potential in terms of the untapped market
Young and old age group people. High pay packages to todays employed
youth and large saving with the old age people (especially in urban areas)
has made them attractive potential customers.

Q.2 What is your occupation ?

Interpretation :
Most of the service class people prefer to open a Savings Account in
comparison to the business class people. This may be possible due to the
facility of Anywhere Banking suiting their needs and preferences.

Q.3 Please specify your annual income?

Interpretation:
Income does not make any difference as far as opening the account
in the Axis Bank is concerned, as the bar diagram is vividly revealing that
more or less people of every segment of income group have opened and
are opening the account expert one group i.e. lower income group where
emphasis is required to penetrate this group so it can be said that the
target group of the axis bank, specially for saving account are of every
segment of income group since its is devoted to render best services to its
costumer.

Q.4 what features/attributes, while opening an account do

you expect from a bank?

Interpretation:
When a customer visits any bank the first and foremost thing he
expects is the quickness of service and the promptness in entertaining by
the bank employee. Second thing customer wishes to have is proper
information regarding his queries. One this in this bar also really significant
is, factor like less formalities of document while opening an account.
Varieties of product do not make a big impact on customer behavior for
opening an account in any bank if its services are efficient. But on the
other hand bank cant ignore working hours. As in this bar customer has
erred it. For these services like bank preference should be given to make a
prompt and customer friendly service channel. For this focus must be

given to make well informed and proactive employee along with work
should be executed technologically rather than manually.

Q.5 What kind of account do you have in Axis Bank and

HDFC Bank ?

Interpretation :
Saving account is the leading and attractive product for the Axis
bank as it occupies a major chunk in this bar. It is clearly implying that this
product has the ability to satisfy the customers. On the second had and the
positions current accounts and fixed deposits has also been helpful to
increase the customer base but still their performances needs to be
improved. One thing in this bar which is significant is the business of the
bank is relying on only few leading products, reason for this could be,
neither it has limited range of products nor rest of the product does not
have much ability to penetrate in the stiff market of banking of Jaipur. That
is giving an alarming message to the management of the bank to go or

analyzing the situation very minutely and must ascertain where things are
going wrong and for that what short of necessary step could be taken.

Q.6 Who influenced to open an account in Axis Bank.

Interpretation :
As it is said a satisfied customer is the best medium for
advertisement since in this bar friends and relatives have play a key role in
opening the accounts for others, which implies that bank real customer are
satisfied enough with the facilities available on the products and the
services enjoyed by them. An advertisement and bank employees more or

less has been good performer in their respective domain. It reveals

advertisement of different medium, as been a key factor in generating the
awareness about banks product as well as facilities that are made to
available on then in the peoples mind.

Q.7 Your remark on products of Axis Bank ?

Interpretation :
As this bar is showing at what level people are saved with saving
account, with its unique facilities features, and ability to serve all the needs
of customer because by and large it can be said 75% people are saving
good to savings accounts, this implies that this product has been a leading
product and still an attractive product of the Axis bank. Reason for this
could be different type of facility associated with this product, which are
reading true value to the customer and marketing people are also very
much devoted to give the best from this part. Efforts must be given to know
why they are people who are still saying average and poor about saving
accounts and what are the factors that are going wrong with that segment
of people.

Q.8 In comparison to Any other bank how would you rate Axis
Bank ?

Interpretation :
Rating of any bank depends on its overall performance in the eye of
the people. This bar is vividly showing that the performance of Axis bank
has been good because in such a short span of its existence in this city
with strong competition from major public sector bank like SBI and other
private banks, Reason for this could be, it has occupied a different position
in the people mind with its customer friendly products and to serve them a
efficient and prompt banking system.

Q.9 How long did your wait in queue ?

Interpretation :
As this bar graph showing 57% people wait in queue 0-5 minutes.
While it should be 100% people.

Q.10 Do you think the number of counter available are

sufficient ?

Interpretation:
As this bar graph showing 82% people are sufficient. While it should
be 100% people.

General considerations
A mobile banking application is, first of all, a mobile
application. To conceptualize a mobile application, additional
informational added values have to be targeted, using mobile
added values [14]. In other words, it is far from sufficiency to just
porting an existing Internet application on a mobile device. Mobile
applications have to be specifically made-to-measure on the one
hand side to the needs and expectations of the mobile user and on
the other hand side to the specific restrictions of mobile
communication techniques and mobile devices. In order to derive a
set of requirements to mobile banking applications we pursue two
steps: Firstly we identify general characteristics of the mobile use
which are relevant. Secondly we closely watch the user and his
context when wanting to use mobile banking.

Characteristics of the mobile use

The use of mobile applications underlies several specific
restrictions. We consider five characteristics of the mobile use
to be particularly relevant as they greatly influence the design of
mobile banking applications and the suitability of certain
technical solutions. A mobile application is used via a mobile
device. For these devices (currently either a mobile phone or a
PDA), special limitations are valid .For the mobile banking
context, above all, these are the limited input and display
capabilities. The connection is provided by a mobile network
operator (MNO). This is especially important if applications
need to access certain parts of the infrastructure which are under
control of the MNO (e.g. the SIM card). In the case of
negotiations, these have to be pursued with all MNO on the
designated market. The use of mobile data transmission is
expensive. In the case of circuit-switched data transmission.

(E.g. GSMCSD or HSCSD) this extends to the connection

time, in the case of packet-switched data transmission (e.g.GPRS)
this extends to the transferred data volume.
Sensitive data is transmitted. This implicates the use of
adequate security measures. A disruption of the usage is possible at
any time. This is principally already true for electronic banking as
well (the connection may e.g. be disrupted by a breakdown of the
transmission or of the operating system of the client Computer)
and provides a special necessity to avoid incomplete transactions.
For mobile banking, it is extremely more probable as a mobile
usage causes a continuous change of conditions, e.g. through
geographical influences or cell-handover. Thus, it is also important
for the usability of a service: It is not acceptable for a user if he
almost completed a transaction and his train enters a tunnel that he
has to wait until the end of the tunnel and restart his transaction
from the beginning (hoping the next tunnel is far away enough). It
is important that the named restrictions have to be considered as
early as possible, which means in the phase of conceptualization.

Mobile Banking: No wires, No worries, New

Customers
Mobile communication devices are revolutionizing banking
transactions over wireless network and the Internet. To attract and
retain customers, bank need to exchange their full range of services
across a wide range of Mobile, wireless devices without having an
impact on their current infrastructure and the delivery channels it
currently supports. Wireless Networks, Mobile Gateways, Wireless
Application Protocol (WAP) & Wireless Markup Language
(WML) all play an important role in bringing mobile banking
strategy to the market.
In addition to established traditional channels, including
branch banking and ATM banking, most major banks in today
market now offers e-banking as an extension to their existing array
of services & conveniences of wired consumers & businesses, the
next phase in the revolution is wireless-mobile-banking that is
available anytime anywhere from always-on mobile devices like
mobile phones and personal digital assistant (PDA). With the
proliferation & cost effectiveness of mobile delivery channel,

banks have a built-in delivery mechanism that can offer services &
247 access regardless of where the customer happens to be.
Unlike PC-Based e-banking, m-banking provides banks with the
unprecedented opportunity to reach their customers in an
unrestricted environment. The big benefits for banks? Higher
customer satisfaction & loyalty, no transaction-based fee revenue,
lower cost of ownership and integrated customer relationship
management channel.

Mobile banking applications

Examined applications
In the following, the main types of existing mobile banking
applications are introduced. These build standard types as each of
them is representative for a series of comparable applications.
While WAP-banking and mobile banking via PDA are generic,
SMS-banking and mobile banking with SIM Toolkit use specialties
of the GSM standard.

WAP-banking
The most widespread solution for mobile banking is based on
micro-websites following the WAP standard (Wireless Application
Protocol). The function of WAP banking is in many ways similar
to the function of Electronic banking using http. The client sends a
request and gets a response with page content which is stored on or
dynamically generated by a standard web server. The main
difference is in the usage of a WAP gateway for the conversion of
the protocols. At banks must be considered that very sensitive data

is processed. While a normal content provider doesnt has to

observe special security precautions, and in some cases can even
use the services of extern providers, has to secure its web server
and WAP Gateway especially against unauthorized access. This is
especially necessary because of the fact that inside the WAP
Gateway the encryption protocol is converted from SSL/TLS to
WTLS with the effect that data is not encrypted while it is
processed. While authentication is assured via a PIN (personal
identification number) of the user, authorization for transactions is
realized via transaction numbers (TAN). This concept, known from
the electronic banking, forces the user to carry a TAN list with him
in order to make transactions.

SMS-banking
The Short Message Service (SMS) is a GSM service to
exchange text messages up to 140 byte (or 160 characters of 7 bit).
The transmission of mobile-originated short messages is carried
out by the short message service center (SMSC) of the particular
network operator. The SMSC is receiving the message from the
mobile device and routing it to the destination device. For
generating mobile-terminated short messages, it is possible that a
company or a special service provider runs an own SMSC. Thus, a
bank could generate SMS from bank data like account balance or
account movements and send it to the mobile device of the
customer. This technique is used at SMS-banking: The customer
sends an SMS with a request to the bank, and gets the desired data
as an answer.
The customer has to include a PIN for authorization in every
SMS he sends to his bank. Alike the WAP banking, one should pay
special attention on the security of the location of the SMSC. The
operation of SMSC is offered as a service by many service
providers. The usage of such a service is out of question for banks,
because of the high sensitive character of the transmitted data. For
this reason it is mandatory for banks to run their own SMSGateway and secure it from unauthorized access. The main

problem with this kind of transmission is the missing encryption of

the data during the on-the air transmission between the service
center and the mobile phone. An encryption of pure text-SMS is
not possible (unless an application on the mobile device would be
able to decrypt the information). So the data is transmitted
unencrypted. Because of this missing encryption, banks

Bibliography

1. E-banking: the global perspective Gupta Vivek

2. E-Commerce in Indian banking Bhasin
3. Banking and Finance C.M.Chaudhary
4. Banking in The New Millennium Rajshekhar N.

Webiblography
1. www.google.com
2. www.citibank.com

Application for Internet Banking, Phone Banking and Mobile

Banking
(All fields with * are mandatory to be filled.)
Name of the applicant: Mr. /Ms. /Mrs. ___________________
Surname *
_____________________

_______________

First Name *

Middle Name *

Mailing

Address

*____________________________________________________
_____________________________________________________
_______
City *: ____________________ Pin Code:
Email Address *: ____________________ @_______________
Phone No. Mobile No. : ________________________
Mother's Maiden Name *:
Date of birth *: _______/ _______/ ______
dd

mm

yy

I) In case of joint accounts, the applicant is required to obtain the

attached mandate from the joint account holder(s).
II) ICICI Bank accountholders can access their bank accounts
through ICICI Bank Internet Banking only where the mode of
operation

of

ICICI

Bank

account

is

Single/Either

or

Survivor/Anyone or Survivor.
Please tick one of the following:
Application for Internet Banking, Phone Banking and Mobile
Banking
(All fields with * are mandatory to be filled.)
Name of the applicant: Mr. /Ms. /Mrs. ___________________
Surname *
_____________________
First Name *
Mailing

_______________
Middle Name *
Address

*____________________________________________________

_____________________________________________________
_______
City *: ____________________ Pin Code:
Email Address *: ____________________ @_______________
Phone No. Mobile No. : ________________________
Mother's Maiden Name *:
Date of birth *: _______/ _______/ ______
dd

mm

yy

I) In case of joint accounts, the applicant is required to obtain the

attached mandate from the joint account holder(s).
II) ICICI Bank accountholders can access their bank accounts
through ICICI Bank Internet Banking only where the mode of
operation

of

ICICI

Bank

Survivor/Anyone or Survivor.
please tick one of the following:
:

account

is

Single/Either

or

MOBILE

NETWORKS

PROVIDE

THE

FOLLOWING COMPETITIVE ADVANTAGES

1. Always on 24 7 access:
Mobile networks will provide the ability for consumers to be
transaction- ready , much in the way cable access has facilitated
online pc access and reduced consumer dial up delays 3555.
2. Advanced penetration of mobile networks:
2G (second generation) networks already cover more than 90
percent of the population in the western world, and this number is
growing steadily.
3. Personalization:
Through SIM (Subscriber Identity Module) cards, mobile
customers have a specific profile that enables customized
functionality that directly reflects the way they want to transact
business over mobile devices. Through the convenient addition of
a multi-application relationship card, mobile customers will also
have a built in platform for a host of other application services,

including security keys, virtual credits cards, and other customized

payment instruments.
4. Rapid evolution of global protocols such as WAP (wireless
application protocol):
This enables the communication channel between computers
and mobile devices. The WAP component essentially provides the
facility for reformatting data for display on wireless handsets.

5. Faster Data Processing Speeds:

Increases in bandwidth and data transmission a speed makes
mobile data services efficient and cost - effective in a real time
environment.

6. Security:
Effectively, the mobile banking transaction can be protected
by a private key stored on SIM card and hence mobile phone can
become a wireless wallet to protect proprietary and financial
information.

MOBILE

NETWORKS

PROVIDE

THE

FOLLOWING COMPETITIVE ADVANTAGES

7. Always on 24 7 access:
Mobile networks will provide the ability for consumers to be
transaction- ready , much in the way cable access has facilitated
online pc access and reduced consumer dial up delays 3555.
8. Advanced penetration of mobile networks:
2G (second generation) networks already cover more than 90
percent of the population in the western world, and this number is
growing steadily.
9. Personalization:
Through SIM (Subscriber Identity Module) cards, mobile
customers have a specific profile that enables customized
functionality that directly reflects the way they want to transact
business over mobile devices. Through the convenient addition of
a multi-application relationship card, mobile customers will also
have a built in platform for a host of other application services,

including security keys, virtual credits cards, and other customized

payment instruments.
10.

Rapid evolution of global protocols such as WAP

(wireless application protocol):

This enables the communication channel between computers
and mobile devices. The WAP component essentially provides the
facility for reformatting data for display on wireless handsets.

11. Faster Data Processing Speeds:

Increases in bandwidth and data transmission a speed makes
mobile data services efficient and cost - effective in a real time
environment.

12. Security:
Effectively, the mobile banking transaction can be protected
by a private key stored on SIM card and hence mobile phone can
become a wireless wallet to protect proprietary and financial
information.

Dangers of E-Banking
most services suffer from disadvantages, and on-line banking is no
exception. Recently, there have been a number of technical incidents, where
customer information was disclosed to other users. Banks have been quick to
react, and have either reverted back to the previous system or have solved
the problem immediately.
The main disadvantages are those related to fear of the unknown. The main
fear is that transferring money electronically will somehow cause it to
disappear into the electronic abyss. Banks are aware of this concern and do
assure account holders that such an event should not occur. There is some
speculation, currently, that Internet-only banks will not be able to sustain
their high interest rates.
Other drawbacks to using Internet-only banks include:

Penalties for phone transactions;

Access to cash (ensure that there is sufficient access to ATMs).

We may perceive this method of banking to be instantaneous. For example,

when a bill is paid, the expectation is that the transaction is completed with
immediate effect. However, this is not the case, as the systems are still
connected to the UK clearing system, which takes three working days to
clear payments., it appears that in many cases basic risk principles have been

ignored in the rush. Banks could lose the whole e-trust business if they are
unable to rise to the challenge of meeting customers' ever-rising demands in
a secure trading environment. Use Dangers in E-banking to reduce the level
of risks to a minimal level whilst ensuring that your business is not justify
behind in the race to retain and win new electronic customers.
How can this report help you? - It identifies the major risks which have been
encountered so far and pinpoints areas which are to become big risks for ebankers in the future.

Security
One of the main concerns with on-line banking is that of security. Fraudulent
and accidental security breaches are a rare occurrence. Banks employ many
procedures and systems in order to prevent these incidents. As a result they
invest a considerable amount of time and money in developing systems
which will prevent fraud and unauthorized access. If a security breach is
discovered, the bank is liable for all money stolen, and, as a result, insures
them against the possibility.
The security used in on-line banking is a combination of technology and
user authentication. The bank will use a 128 bit Secure Session Layer (SSL)
encryption protocol, between its server and the user's browser. The user's
browser will show a padlock when the session is secure. Using SSL can be
thought of as preventing eavesdropping. If a hacker were to attempt to listen
to the data transmission, they would have to guess the decryption key -

which is a 1 in 3.4 x10 to the power of 38 chances, making it infinitely

secure. From a technology point of view, on-line banking is secure.
The weakest link of on-line banking is user authentication. Typically, a user
has to supply a set of answers to questions, which they have previously
entered upon registration, as well as a username and password. The banks
place the responsibility of keeping these answers secure with the user. If any
are disclosed and money is stolen, the liability lies solely with the account
holder, not the bank. With this in mind the following is sound advice to
users:

Make sure the Web Address starts https:\\ rather than http:\\, this
shows that the session is encrypted;

Look for the closed padlock in the browser;

Do not use simple or easily guessable passwords (use a combination

of letters and numbers) and change it frequently;

Do not write down any username, password or any other information

required;

Always empty the cache of the browser after banking;

Always sign-off when you are finished;

Do not leave the PC unattended while banking;

Do not use the "Auto Complete" feature within the browser;

Check the Terms and Conditions for any notes on where you can and
cannot access the on-line accounts. (e.g. an Internet caf is not as
secure as your home PC);

Use additional software that your bank might recommend (firewall or

anti-virus software)

Keep your Web browser up-to-date with the latest patches and
versions;

Never send any account information in an email as this is insecure. Be

wary of any e-Mails from your bank which ask you to send details
via email, banks will not do this;

Also, be wary of emails from banks which ask you to log into a Web
site and resubmit your details. These fake Web sites have been set-up
by fraudsters. If you are unsure of an email play it safe and contact
your bank to verify the email.

QUESTIONNAIRE
Question:
What equipment and software do I need to access e-Banking?
Answer:
You'll need an Internet Service Provider (ISP), a modem (28,800 baud
or higher is recommended), and Browser software which supports
128-bit Secure Sockets Layer (SSL) encryption. We recommend
Internet Explorer 5.5 or Netscape 4.78 for PC users. (For more
information, please refer to your copy of e-Banking Guidelines
provided by Community Bank.)
Question:
How do I sign up for e-Banking?
Answer:
Access to e-Banking can be added to most Community Bank accounts
at any time. If you would like to use this feature and have not yet
signed up, simply contact one of our helpful staff members for
assistance at (209) 956-7000.

Question:

What type of accounts can be accessed through e-Banking?

Answer:
You can access the following types of accounts:

Checking

Savings

CD's/Investment

Loans

Question:
Can I customize the name of my accounts online?
Answer:
Yes. Our e-Banking service is designed so that users can edit
information online for their own reference. Adding custom words
such as "Summer Vacation" next to an account number enables users
to locate specific accounts more quickly.
Note: Please include the last five digits of your account number in
your modification.
Any modification made online only appears when accessing
information through e-Banking and does not impact the Bank's actual
records.
Question:
How safe and secure are my e-Banking transactions?
Answer:

We use 128-bit Secure Sockets Layer (SSL) encryption for all

communications within e-Banking. This is currently the highest level
of security available for Internet transactions.
You can help safeguard your information and the e-Banking system
by protecting your Sign-On ID and password. A proper combination
of your Sign-On ID and password is the only way to gain access to
your account information online. Please be careful to keep this
information secure.
Question:
Can anyone else see my account information?
Answer:
Your online account information is available through access methods
which have been rigorously tested for security accessibility. Account
information can only be accessed using the correct Sign-On ID and
password combination.
For your protection, e-Banking blocks access to your account after
three failed Sign-On attempts. To regain access, please contact the
Bank.
If you leave e-Banking idle for a period of time without using the
Sign-Off option, the system automatically terminates your session for
additional security.

You can help safeguard your information and the e-Banking system
by protecting your Sign-On ID and password. A proper combination
of your Sign-On ID and password is the only way to gain access to
your account information online. Please be careful to keep this
information secure.
Question:
If I did not subscribe to e-Payment when I first opened my personal
checking account, can I add this service later?
Answer:
Personal users can sign up for e-Payment at any time. Just click on the
Bill Payments button located within the e-Banking navigation menu.
If you have not already signed up, a message will appear informing
you that you are not currently enrolled. You will then be presented the
opportunity to enroll online. Simply accept the Terms and Conditions
by clicking the button, and you can immediately begin using the
service.
Question:
Upon subscribing to e-Payment, will I be charged the monthly service
fee even if I don't make any payments?
Answer:
Yes, the monthly service fee is charged just like your basic telephone
or cable bill - whether you use the service or not. Please see our Fee
Schedule for current pricing.
Question:

Will my payments and transfers be processed if e-Banking goes

down?
Answer:
If e-Banking and all of Community Bank's back up systems were to
go down, you can be comfortable that any transaction which you had
already processed prior to the system going down, will be processed.
If you were in the middle of a transaction and there is some question
as to whether the system received your request, please contact the
Bank to ensure your transaction request has been accepted.
Payments and transfers appear on your Register screen. If the last
column of the register is marked with an "X", the payment or transfer
has posted against your account.