e-banking

Vocabulary Word

Definition

E-banking, also known as internet banking or online banking, is a system where banking services like checking account balances, paying bills, applying for loans etc., are provided online through a bank's secure website or app.

Examples in Different Contexts

In financial services, 'e-banking' refers to conducting banking transactions electronically via the internet. A financial advisor might say, 'E-banking offers the convenience of managing your finances from anywhere, at any time, without visiting a bank branch.'

Practice Scenarios

Business

Scenario:

Our clients require secure and efficient ways to manage their finances. We should consider enhancing our digital offerings.

Response:

Absolutely! Integrated e-banking services would significantly enhance our customer’s banking experience.

Academics

Scenario:

The shift towards digital banking indicates a significant change in the financial industry. We should study these transformations closely.

Response:

Absolutely, the rise of e-banking provides us with a unique field of study to understand technological advancements and their impact on the financial industry.