Online banking is no exception.
Only until just recently has online banking has emerged from the smoke and mirrors to become a powerful tool for the consumer and a competitive advantage for the banking industry. The end-user now has a wide range of banking features at his or her fingertips such as funds transfers and electronic bill payment. Banks now have a system that will allow them to lower costs and provide better service. But the banking industry and its customers must keep alert to some potentially dangerous implications and side effects in terms of security, privacy, and fair access. While the technology still has far to go, the time has come for America to switch to online banking.