These people are also the ones who want to have the convenience of online banking for home or business use. This is an excellent opportunity for the community bank to keep their hometown customers from looking to national institutions for an online product. Small business owners are another group of individuals looking to the Internet to manage their business more efficiently. Business use of the Internet has seen the most significant growth. With an online product such as Cash Management, which allows the bank customer to perform ACH transactions, Billpay, payroll, and EFT tax payment, the bank will attract and retain more of the commercial accounts in their community.
Innumerable services are available via the Internet today.
Internet banking provides a higher level of convenience that both commercial and retail customers desire to have. With this service, the bank not only has the opportunity to manage their business better, but can also help their customers achieve a much more efficient process of managing their finances. Certainly the benefits of generating revenue, decreasing transactional and operational costs, increased productivity, and attracting new customers warrant a serious investigation of online products and services that could enhance any bank's current product offering. The author, Leisha Yerkes, is with the Marketing Division, Q-UP Systems .