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IIMB Management Review

Document Type

Article

Abstract

The way customers are using financial services is changing rapidly. Today’s financial services are characterised by individuality, mobility, independence of place and time, and flexibility. The Internet, based on client server technology, has facilitated this change. Financial services companies are using the Internet as a new distribution channel, offering complex products at lower transaction costs to more potential customers. This also allows customers to access the service from any part of the world at any time, which they are doing through a range of intelligent information access and processing devices which include PDAs and mobile phones. Financial institutions can use the Internet for information presentation and two-way communication, interaction with the user and transaction banking. It offers banks a new channel for sales and customer contact and has thrown up a new form of competition in the shape of banks which have no physical presence

Publication Date

9-1-2001

First Page

7

Last Page

19

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