1. Definition

Electronic banking (E-banking), also known as online banking, refers to the use of digital technologies and the internet to perform banking transactions. Customers can access their accounts, conduct transactions, and manage financial information via electronic platforms such as websites, apps, or other digital interfaces.
It offers a secure, fast, and convenient alternative to traditional banking, with many functions available around the clock.

2. Applications

Electronic banking is applied in various areas of finance:

• Account Management: Customers can check balances, track transactions, and download statements.
• Payments: Transfers, standing orders, and direct debits can be conveniently handled online.
• Investment Management: E-banking platforms allow for buying and selling securities and managing investment portfolios.
• Loan Management: Loan applications, repayments, and administration can be handled digitally.
• Corporate Banking: Businesses use E-banking for payroll processing, invoice handling, and managing corporate accounts.
• Mobile Banking: An extension of E-banking through apps that enable easy use on smartphones and tablets.

The scope of application is broad and supports both individual and corporate clients.

3. Types of Electronic Banking

Electronic banking can be categorized into various types:

• Online Banking: Using browser-based platforms to perform banking transactions.
• Mobile Banking: Accessing banking services through smartphone apps designed for this purpose.
• Telephone Banking: Conducting banking transactions via phone calls or voice control systems.
• Automated Terminals: Using ATMs and other self-service devices for transactions like deposits or withdrawals.
• Electronic Fund Transfers (EFT): Direct electronic transfers of money between accounts, such as SEPA payments.
• Digital Wallets: Electronic wallets like PayPal, Apple Pay, or Google Pay that simplify payments.

The different types provide flexibility and various usage options depending on customer needs.