E-banking is beneficial to banks, as well as customers. Explain the benefits that can be derived by banks, as well as customers.

Benefits from the bank's point of view The main goal of any firm is to maximize profits for its owners and banks are not any exception. Automated e-banking services enable the banks to reduce the transaction cost which will improve the profitability. Another benefit for those banks that offer such services would be perceived as leaders in technology implementation and those banks enjoy goodwill and a better brand image. The other benefits that would accrue to the bank that adopted e-banking are as under: Procedures and processing of banking transactions can be standardized to eliminate frauds. Better security of the systems can be ensured. Accountability for frauds and irregularities can be fixed. Manpower can be used fully, without any scope for disguised unemployment. Performance can be measured and achievers or performers can be rewarded to improve the business. Document or transaction and details can be retrieved easily without delay. Increased speed in processing of banking transactions will enhance the image of the bank. The main benefit from the bank customers' point of view is significant saving of time by the automation of banking services processing and introduction of an easy maintenance tools for managing customer's money. The main advantages of e-banking are as follows: Reduced costs in accessing and using the banking services. Increased comfort and time-saving transactions can be made 24 hours a day, without requiring the physical interaction with the bank. Quick and continuous access to information. Corporations will have easier access to information as, they can check on multiple accounts at the click of a button. Better cash management. E-banking facilities speed up cash cycle and increases efficiency of business processes as large variety of cash management instruments are available on Internet sites.