Understanding e-banking is important for several stakeholders, not least of which is management of banking related organizations, since it helps them to derive benefits from it. The Internet as a channel for services delivery is fundamentally different from other channels such as branch networks, telephone banking or Automated Teller Machines (ATMs). Therefore, it brings up unique types of challenges and requires innovative solutions.
Many banks and other organizations have already implemented or are planning to implement e-banking because of the numerous potential benefits associated with it. Some of these major benefits are briefly described below.
