Explain the application of Internet in Banking.

CPA-Quantitative-Analysis-Section-4 BLOCK RELEASE

(ii) Application of the Internet to banking:

Online banking
This refers to a computerized banking system that enables customers to do most of their banking transactions via home computers linked to proprietary networks or the internet. Online banking has enabled customers to perform balance enquiries online and even cash/cheque deposits. For cash/cheque deposits, the cash/cheque is mailed using a safe courier service.

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