THE ROLE OF CI IN E-BANKING EVOLUTION

Banking has evolved over the past few years from a face to face service to that of anytime/anywhere/anyhow banking service, using various delivery channels.E-banking is the wayforward for the banking industry. It brings new opportunities and possible additional risk for banksand presents fresh challenges for regulators. Furthermore, there is no doubt that technology is now the single biggest strategic issue in banking. In particular, bankers like other businessmen are, or should be, urgently reviewing the opportunities provided by the Internet. Although it is tempting to dismiss much of what is said about the Internet as media type, we do believe that it is true to say that we are living in the age of the Internet, and businesses that do not adapt to the opportunities and challenges which this presents, will have a limited future. The advantages of e-banking, and Internet banking and Mobile banking in particular, are quite clear the ability, for example, to disseminate information widely and instantaneously at low cost and crosssell products in a much more effective way. But there are also strategic threats. The cheapness and global reach of the internet opens up the threat of increased competition from new entrants who will no longer need a branch network to operate effectively in any given market. This competition can be launched across national frontiers.Fast changes in business and technology means that opportunities and threats can change in a minute, so that Internet can play a major role as a source of competitive information. The Competitive Intelligence has been directly or indirectly mixed with the industrial developmenteither in companies or in various regions. In this article we will discuss the e-banking evolution and explain the role of CI and CI process in ebanking services as well as legal, risk management challenges, and will present necessary suggestions for managing e-banking and Key strategies for successful online communities.

Keywords:

IT , E-banking , Competitive Intelligence , Risk management , Technology Intelligence matrix