EBank Transparency Thanks! Transparency is defined as the concealment from the u

Question

EBank Transparency

Thanks!

Transparency is defined as the concealment from the user and the application programmer of the separation of components in a distributed system. Online banking, also known as internet banking, e-banking or virtual banking, is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website. Consider the net banking as a distributed system and identify the transparencies built into it. Discuss the different modes of transparencies that net banking system should aim at providing. B2.1 Problem solving approach for net banking B2.2 Identify modes of transparencies and discuss transparencies

Explanation / Answer

B2.1 Approach for Net Banking: 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. The finance services, associated with Internet, are being promoted due to the wide spread use of Internet. Internet banking that is also known as online banking is one of the emerging services. The Internet is rapidly turning out to be a tool of worldwide communication. The increasing use of Internet earlier promoted producers and entrepreneurs to sell their products online. It has also become an important source of information and knowledge. Due to this, many banking and finance organizations have come up with the idea of Internet banking or online banking. Internet banking can be defined as a facility provided by banking and financial institutions that enable the user to execute bank related transactions through Internet. The biggest advantage of Internet banking is that people can expend the services sitting at home, to transact business.

B2.2 Modes of Transparencies:

Description of Transparencies :

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