Online Banking
From Wikipedia
Online banking solutions have many features and capabilities in common, but traditionally also have some that are application specific.
From Wikipedia
Online banking solutions have many features and capabilities in common, but traditionally also have some that are application specific.
The common features fall broadly into several categories
Transactional (e.g., performing a financial transaction such as an account to account transfer, paying a bill, wire transfer... and applications... apply for a loan, new account, etc.)
Electronic bill presentment and payment - EBPP
Funds transfer between a customer's own checking and savings accounts, or to another customer's account
Investment purchase or sale
Loan applications and transactions, such as repayments
Non-transactional (e.g., online statements, check links, cobrowsing, chat)
Bank statements
Financial Institution Administration - features allowing the financial institution to manage the online experience of their end users
ASP/Hosting Administration - features allowing the hosting company to administer the solution across financial institutions
Features commonly unique to business banking include
Support of multiple users having varying levels of authority
Transaction approval process
Wire transfer
Features commonly unique to Internet banking include Personal financial management support, such as importing data into personal accounting software. Some online banking platforms support account aggregation to allow the customers to monitor all of their accounts in one place whether they are with their main bank or with other institutions
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