MANAGEMENT is efficiency in climbing the ladder of success; LEADERSHIP determines whether the ladder is leaning against the right wall - Stephen Covey

Friday, October 21, 2005

Brick-to-Click banks!

Today, most large national banks, many regional banks and even smaller banks and credit unions offer some form of online banking, variously known as PC banking, home banking, electronic banking or Internet banking. Those that do are sometimes referred to as "brick-to-click" banks, both to distinguish them from brick-and-mortar banks that have yet to offer online banking, as well as from online or "virtual" banks that have no physical branches or tellers whatsoever.

The challenge for the banking industry has been to design this new service channel in such a way that its customers will readily learn to use and trust it. After all, banks have spent generations earning our trust; they aren't about to risk that on a Web site that is frustrating, confusing or less than secure.

Most of the large banks now offer fully secure, fully functional online banking for free or for a small fee. Some smaller banks offer limited access or functionality; for instance, you may be able to view your account balance and history but not initiate transactions online. As more banks succeed online and more customers use their sites, fully functional online banking likely will become as commonplace as automated teller machines. Am gladly looking forward to that day.....Happy Banking!


Blogger Trevor Gay said...

Hi Sriram

In the last 12 months I think I have been to my Bank twice to the best of my recollection and that was only because the transaction I needed to do was not possible online. What I love is that I am in control of my own money.

This afternoon we booked rail tickets online from our front room. I looked out of the window at the pouring rain and thought why the hell should I get in my car - drive to the station - park the car - get wet walking to the station - stand in a queue in the cold for ten minutes and then watch someone else do what I can do from the comfort of our front room.

In 20 years time what we do now will seem antiquated!

Banking is a great example of shifting the power to the customer and I for one welcome it. Great times ahead methinks - keep Blogging and keep it simple my friend :-)

12:08 AM

Blogger Sriram said...


I totally agree with u as regds taking ctrl over ur finances. Nice to note that u booked ur rail tickets online....i always say "The whole world revolves around internet" and I truly share the same feelings with u as regds certain activities being performed now becoming antiquated in the near visible future.

2:17 PM


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