Seniors Guide Online Banking - 1488 Words

Seniors’ Guide to Online Banking. Welcome to the first edition of the Seniors’ Guide to Online Banking. Seniors represent a growing population of loyal customers in most financial institutions in the Province of Saskatchewan and even the country as a whole. Unfortunately most seniors have not been able to cope up with the rate of technological changes in the Banking Industry. The sad thing is that almost all financial institutions treat seniors just like generation X and Y folks when it comes to the use of Digital Banking. Seniors need special care and treatment in this area. It is true that banks have done very well by improving banking products and making them accessible to all especially to seniors. This has become very popular and a†¦show more content†¦Ã¢â‚¬ ¢ And what one has to do after using online banking Section B: deals with the basic step by step process to access popular banking products such as †¢ Paying Bills Online †¢ Making eTransfers †¢ Making Cheque Deposits †¢ Setting up Alerts on your Accounts †¢ Changing password and security questions †¢ Section C: deals with the common frauds associated with online banking and how to prevent it Topics such as the following as discussed †¢ Social Engineering †¢ Phishing †¢ Credit Card fraud †¢ Identity theft and fraud †¢ Advance Fee Fraud ONLINE BANKING Online banking also known as internet banking, e-banking, or virtual banking, is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution s website. The tools commonly used are computers, smartphones and in a limited sense telephone. It is faceless and borderless in that you do not see or interact with Bank staff as it is in the traditional systems. The transaction can also be done anywhere and anytime without any restrictions. All you need is either smartphone or a computer. The good news is that almost all the popular banking products are also available online. You can pay bills, view your account balances, and locate ATMs, transfer funds and even deposit cheques, all at any time to your convenience. In short, it is fast, safe, flexible, convenient and secure. Looking at theShow MoreRelatedHow Technology Has Changed Our New Set Of Skills And Practices1040 Words   |  5 Pagesworld today, as seen by continuous revelations about breaches and incidents. On this note of insecurity and unpredictability, banking industry is keen to redefine its approach to security thereby making an attempt to balance three critical factors i.e. cost, innovation and risk. 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