online-banking

Vocabulary Word

Definition

Online banking, also known as internet or electronic banking, is the use of digital technology to carry out financial transactions and manage accounts from a computer or mobile device.

Examples in Different Contexts

For personal finance management, 'online banking' is a tool that enables individuals to easily monitor their spending, savings, and investments. A financial advisor might advise, 'Regularly using online banking can help you stay on top of your finances and avoid overdraft fees or fraudulent charges.'

Practice Scenarios

Marketing

Scenario:

Since security is one of the top concerns with online services, we should focus on emphasizing the safety measures we employ.

Response:

I agree, our marketing strategy should highlight the robust security features of our online banking system.

Tech

Scenario:

Considering the growing trend of smartphone usage, we should aim to improve the mobile experience of our users.

Response:

Absolutely, one of our primary goals is to optimize the online banking experience for mobile users.