1. Online Banking Presented by: Presented by: Jason Letkemann Jason Letkemann Matt Woo Matt Woo Ronnie Morin Ronnie Morin

2. Today’s discussion points 1. Introduction to online banking 2. Advantages/Disadvantages 3. What one should be aware of as a consumer 4. Measures one should take 5. Conclusions 6. Questions

3. Introduction Dramatic increase in recent years 8% (1999) to 30.8% (2003) of Canadian households Online banking continues to grow Online banking continues to grow

4. Advantages The are five primary advantages to online banking: 1. Convenience 2. Ubiquity 3. Transaction speed 4. Efficiency 5. Effectiveness

5. Disadvantages There are four main disadvantages to online banking: 1. Lengthy set-up time 2. A steep learning curve 3. Bank site changes 4. Trust

6. What one should be aware of as a consumer Make sure the bank is legitimate History of the institution Be careful of fraudulent websites Make sure that the bank insures deposits Security measures taken by the bank

7. Measures one should take User name/password Logging off Public access Security Software programs Review statements

8. Conclusion Online banking has revolutionized the way many people do their personal business Safe practices/procedures Bank responsibilities

9. Questions ?