Internet+Banking


 * __Internet Banking__ - Adam and Emma**

Online banking or Internet banking allows customers to conduct financial transactions on a secure website operated by their retail or virtual bank, credit union or building society.

Online banking solutions have many features and capabilities in common, but traditionally also have some that are application specific. The common features fall broadly into several categories
 * Transactional (e.g., performing a financial transaction such as an account to account transfer, paying a bill, wire transfer... and applications... apply for a loan, new account, etc.)
 * Electronic bill presentment and payment - EBPP
 * Funds transfer between a customer's own checking and savings accounts, or to another customer's account
 * Investment purchase or sale
 * Loan applications and transactions, such as repayments
 * Non-transactional (e.g., online statements, check links, cobrowsing, chat)
 * Bank statements
 * Financial Institution Administration -
 * Support of multiple users having varying levels of authority
 * Transaction approval process
 * Wire transfer

[]

**IT System:**
 * Definition / What is it:** Online banking or Internet banking allows customers to conduct financial transactions on a secure website operated by their retail or virtual bank, credit union or building society.
 * Where it is used:** Online banking can be logged onto at any computer or other device with internet access, anywhere in the world
 * How does it work?** You can log on to your banks website. Security number and date of birth are commonly used as security, althoughth Barclays have intoduced PINSentry which is arguably the most secure form of authentication available. Once logged in through numerous security checks, The site will then display balances, options such as transfer money to someone else, pay a bill, view previous statements, close account etc..
 * Issues / Problems:** The have been numerous security theats to online banking since it was released. The most common one is a phishing scam, where you recieve an email from your what looks like your bank asking you to update security details. Once you got to the website on the email, its looks identical to your banks website, however the details you enter go straight to a criminal who has set up this scam. This is by far the most common way online banking has been attacked. However PINSentry by Barclays has completely removed phishing as the website holds the algorithm stored in the PINSentry machine []
 * Sources:**