The banking system in the Sultanate of Oman republic prefer to bank Muscat an incoporated banking company in the Arab world. Clients opt for legal frameworks that validate to open account with bank. Clients using online banking system could be regulated on how to bank and facilitate financial transactions in tandem with other modes of banking apart from the Internet…
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Financial orginsations for example, are partnering up strong domain skills in technology and implementation expertise. Information technology is giving the banking sector in Sultanate of Oman a competitive edge in the global economy. Computing infrastructure and integrated applications do enhance a reliable computing environment that is comprehensive, cost effective and robust. Khalfan A (2004)
The online banking systems offer clients with state-of the-art solutions for their short term and longer-term requirements. With the reliability with information and technology, clients are normally 100% satisfied since the system is developed to offer the value for customers money, this includes low life cycle cost, better technology and better products and services.
The biggest advantage of the banking system is the its support integrated real-time payment solutions, electronic secure document solutions, quality customer services, effective partnering, and impressive track record. The banking system in Sultanate of Oman supports a complete solution that address existing customer problems and it also caters to customer growth plans. The banking infrastructure is integrated to coordinate the front-end with the back-end systems. Khalfan A (2004)
The online banking system has automated all the manual forms to smart forms portal that offer better services, efficient transaction processing and 24 by 7 availability. The online banking supports end-to-end financial transactions capabilities and it also enhances secure and reliable with many additional services hence championing efficiency.
Reduced cost of ownership is evident from reduced physical investment this boosts quality of data which is easily retrievable from the database. Paper-less transactions curtail personal visits and signatories hence containing costs and efforts to processing transactions. Journal of Financial Services and Management. (2006)
In 2004, Bank Muscat of Oman was awarded the world's best Internet Bank of the year. Bank Muscat is the largest Bank in the region that enjoys robust corporate transactions. They adopted the CR2's ATM systems in 1988 essentially to manage their ATM channels.
It's versatility hinges on the fact that clients could easily request balances through their mobiles via text messages and also through Internet conduits. Bank Muscat is therefore enabled to manage delivery of personalised, tailored financial products and services over the Internet. Journal of Financial Services and Management. (2006)
Khalfan A (2004) Computing and Information Systems.
Journal of Financi
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The rate of Internet penetration per country has also increased due to lower cost of broadband connections, the number of Internet-enabled mobile devices such as cellular phones, tablets, and iPads, and further improvements in Internet technology in delivering vital content.
Internet banking has thrived in the past decade. According to a survey, online banking was found to be used by 80 per cent of the American population that makes 72.5 million American households in the year 2010.
Internet banking is another concept of web based banking. The deployment of whole sale or retail banking services can also be referred to as E-banking. It involves individuals, and corporate customers.
According to the research findings, it can, therefore, be said that the Internet Banking System of a bank requires continuous improvements in the security domain, as customer data is processed and transmitted over the Internet. Likewise, they need to mitigate any associated risks that may directly or indirectly affect the end user transactions.
The focus of the research study is to find out how the internet banking can be accomplished being least vulnerable to the intrusion from hackers and other unauthorised sources.
The third part provides the description of research method to be used in undertaking the research study.
The main cause of the problem is the close association that exist between Canada and America. The two countries share similar historical, political, and social factors. However, unlike Canadians, Americans have an identity. For instance been an American means that an individual is sovereign and has the right to liberty and pursuit of happiness (Carpenter web).
The study of Sathye (2002) investigated the productive efficiency of banks India. Her results were that the mean efficiency score of Indian banks was comparable with the world mean efficiency score, as well as the efficiency of private sector commercial banks as a group were, ironically, lower than that of public sector banks and foreign banks in India.
Thereafter research paradigms are stated. This is followed by an explanation of the methods used in the collection of the data. This paper, then explains the process of drawing the sample of respondents from out of the target population and the chapter finally winds up with presenting arguments in favours of and against the chosen methods of collection of the data, primarily, in terms of seeking to establish its reliability and validity.
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