Online Banking, E - Commerce

Online Banking, E-Commerce

For this task, we have been asked to research the purposes of online banking.

The purposes of online banking could include the fact that it is a lot more convenient for people. For example older people who are incapable of walking or travelling may find this an ideal thing to use although a stereotype for older people is that they can’t adapt or use new technology and using accounts and numbers may be a little too much for older people.

Another ‘class’ of people that may like this online banking could be people who long hours or shifts and this process is a lot quicker than travelling to your nearest bank so they may find the online banking a benefit to their lifestyle. It also enables people to still access their bank details even if a bank is closed so it could be used in emergency situations.

The target audience for online banking could arguably be people who are aged 16 or over because they are the age that people are allowed to open a bank account and access it yourself. Another reason why it could be ideal for 16 year olds could be that at this age, you will be busy looking for jobs or going out with your friends and the online banking could suit their lifestyle because as long as they have an internet connection, they are capable of accessing their online banking.

The online banking service does fulfil its purpose i.e. it can be used and accessed by anyone with a bank account and it makes banking a lot more simple and more convenient for the people.

One of the main advantages of online banking could be that it is a lot more convenient for people as they don’t have to travel anywhere and this can save you money i.e. you aren’t going to be paying for a bus fare or paying for petrol. Online banking can also be accessed anywhere with an internet connection but this isn’t always a good thing i.e. there could potentially be hackers who may potentially steal your bank details and consequently they can access your money. Online banking is also quite secure and you can also use secure keys to keep your details safe and still access your bank details.