What is Online-Banking ? Explain the various problems of Online-Banking and the pre-requisites for its success.
Online banking, also known as internet banking or e-banking, refers to the digital platform provided by financial institutions that allows customers to conduct various financial transactions and manage their accounts over the internet. It enables users to access banking services remotely, providing convenience and accessibility. This form of banking has revolutionized the way individuals handle their finances by offering a wide range of services that can be accessed anytime and anywhere with internet connectivity.
However, despite its convenience, online banking faces several challenges and problems that need to be addressed for its successful operation:
1. Security Concerns: Cybersecurity is a significant issue in online banking. Customers' sensitive financial information, such as account numbers, passwords, and personal identification details, are vulnerable
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