Introduction
Banks form part and parcel of all the financial institutions that both allow deposits as well as create credit facilities both to the public and the private economies. In the context of the current trends in the banking sector is the emergence of the banking service by the use of the Internet alongside other Internet-based methods as well as the mobile banking facility. Funds deposition and withdrawal has been made more efficient and effective through the use of Internet-based platforms that can be accomplished in the comfort of one's residence. One of the banking institutions that have adopted such a means of trading is the Tangerine bank in Canada that enjoys a big number of customers of almost to two million from their simplified banking system. In most cases online banking facility saves the unnecessary funds transactions fees and makes one be in a position to work on his available time and schedule without having to travel all the way in busy traffics and high transport costs. This saves time and money, hence a very tool in the modern world that cannot be underestimated. Online banking provides a relatively comfortable and convenient mode of banking operationalization, acting as a simple tool simplifying the busy lifestyles schedules for the hardworking individuals. (SCN Education BV, 2001)
Like the Tangerine bank in Canada, the use of online as well as the mobile banking facility has facilitated the wide range of products on offer by the bank. This has been, made by the development of a very intensive technological advancements platform like the extensive use the social media platforms including Facebook accounts and Twitter handles as well. These platforms among other web-based platforms like the linked-in have enabled faster, and a relatively cheaper product marketing through advertisements of new offers and rebranded offers by the financial institution. Through the effective advertisement, the bank has been in a position to develop a good customer base by retaining its viable households as well as getting new customers on board. Advanced technological advancement in the banking sector results in far and wide products and offers marketing, and this would be different if it were just to be manually done. Though better technological machinery in place more services, products on offer by any banking institutions gets to be laid to viable and legitimate customers who are potential and prove valuable for the growth, development and sustainability in any banking institution. By such an advanced technological know-how in any banking institution, there is the availability of the optimization of the organization hence fostered continuity.
Still on the same, taking an example of Tangerine, many goodies come with this online and mobile based banking facility, including the much-reduced costs regarding the transaction fees, ledger charges hence efficiency to the customer. Any given customer would prefer such a service for the online stuffing as well as the mobile banking comes with a much-reduced interest rates on loans. Loans are either short term or long term, when using the online service there are provisions of low ledger charges when making withdrawals from the bank accounts. This is inclusive of even the branches as well as it also comes with a guarantee of operating from any bank Automated Teller Machines all over at a much-reduced charges or even no fees at all. (Korper, 2001). Such are the measures most banks are adopting to attract more customers and make more money from a big customer base control. Customers love such services and would attach themselves entirely to institutions with such kind of service provisions.
Last but not least, like in the case of Tangerine banking using online and mobile networks are customer friendly services since this can be done at anytime and anywhere. From such an operation, the life of the client is made rather easy, comfortable and more manageable since this online stuff does not need one to necessarily make long distances in search for services. It is also an environmentally fit procedure as it does not involve the use of papers that would rather cause soil pollution through lack of proper disposal methods. There is the use of buttons click for a transaction to be effected; this has resulted in conserving the environment as well as making life cheap, easy and worth living as one doesn't have to go through the rigorous procedures that would prove tedious, time wasting and annoying. The use of machines, electronically based services as in the mobile networks and other web-based machinery reduces transportation hiccups reducing traffic on roads since transactions can be done in the comfort of homes making life very bearable, sweet and enjoying. (Balasubramanian, 2016)
Conclusion
In summary, online banking has proven to be the best service delivery among many sectors in the world today since Internet operations have become easier to manage and cheap way of life. This is what has made the Tangerine bank in Canada manage to deal and work effectively with a large number of the customers at his disposal. Online as well as mobile banking and a strong technological base, enhance workmanship, improves people’s lives and makes life worth living.
References
Balasubramanian, K. (2016). Cryptographic Solutions for Secure Online Banking and Commerce. (K. Mala, & M. Rajakani, Eds.) Information Science Reference.
SCN Education BV. (2001). Electronic Banking: The Ultimate Guide to Business and Technology of Online Banking (1st ed.). Wiesbaden: Vieweg+Teubner Verlag.
Korper, S., & Juanita, E. (2001). The E-Commerce Book: Building the E-Empire (2nd Edition) (Communications, Networking and Multimedia). Morgan Kaufmann.
