E-channels are popular today in banking industry. ATMS, internet and mobile banking allow customers to view their account and pay their bills online wherever and whenever they want to since e-channels are designed available 24/7. But more than the services they provide to customers, let us look at them as technology. E-channels are strategic in nature that can be compared to a Roman Aqueduct which serves as a distribution channel of water from the Aegean sea to the city. E-channels themselves are technology-based business services – what do we mean by this is that without technology, this kind of services will not exist at all. Let’s compared it to trade products. Trade is a corporate banking product which exists even during the Renaissance to finance Galleon Trade import and export services but there’s no information technology to managed its processes. So with or without I.T. at present time, Trade will survive. But for the case of e-channels – no I.T. means their dinosaurs.
E-channels also need a robust and secure infrastructure. They need large network capacity, fast processing servers and secure layer due to their exposure to public. The most exciting part about e-channels is its nature of being a hybrid of technology and multimedia. E-channels need graphic designs to make them visually appealing. Human photos, iconic menus and infographics will shred thrills to customers. Definitely this will not be necessary for a Finacle Corebanking System.
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