Internet Banking Assignment Example | Topics and Well Written Essays - 1250 words

Internet Banking - Assignment Example Internet banking is offered today by all leading banks in UK, though the extent of usage and the features offered by the banks vary and is limited. Internet is available at more than 42% of the homes in UK in 2002 (National Statistics, 2002). Internet is now being used by more than 50% of the population in the UK from their home and they are connected reasonably high speeds of connectivity which enables them to make use of any of the currently available service on the net. Internet banking however has not been adopted by about 30% of the customers to a larger extent. While most of the people make use of the internet banking to look up their balances and to see whether the expected credit or debit has taken place. This avoids may be a walk down to the bank or possibly a call to know the status of the account. Most of the banking customers do not use internet banking for money transfers on large scale. Still they believe on old instruments like the cheques or the other standing instruc tions though they are getting implemented using electronic means more and more. It is also true still that most people access internet to access their emails and of course do some shopping. In UK 70% of the people use it for email and for seeking information on products and services; while 60% come in only to do general browsing. The number of people using internet for banking is pretty limited. Paying or purchasing over the internet which would also be using services of the bank is around 38% of the adults. The adult group itself is about 55% of all adults who are in UK who really access the internet. Out of the population this is still a minority since most of the young between 14 and 20 years access the internet much more widely than the rest of the groups. Interactive systems are a fusion of People, Activities, Contexts and Technologies (David Benyon et al, Nov 2004). The usage spread in UK also indicates the design of the internet and the sites thereof, are dependent on the psychology of the human beings using the same. This is naturally, dependent on the age of the user and on the aims of the user. That is why, we find more people using it for emails in the case of adults whereas among the younger lot, we find that the usage is more towards education and other browsing activities. The Interactive systems need to necessarily take care of this variation in interest and should also keep in mind the adult concepts of security which is primary for internet banking exercises. Usage issues in Internet Banking Most of the banking sites are pretty secure at 128 bit encryption. They are also designed in line with the principles of interactive design. Most of the sites do not go beyond the 4 colors doctrine which is recommended for usage in any web site. By using up to a maximum of four colors, the site is easier to read or work on and do not cause any irritation to the user. Internet banking continues to be a query point where people tend to go and check their balances and possible credits or debits only. Transactions are not happening as expected though it is easier to do over the net. Some of the issues that are faced by the customers include: 1. Comfort of use for lay men. Human centered