Electronic banking: modern trends. Electronic banking

"Accounting and Banking", 2012, N 2

Since the mid-1990s. There is an increase in online trading activity around the world. Following large companies producing computer equipment, traders of traditional goods began to enter the network. Nowadays almost any product can be purchased online. An electronic payment system (e-commerce) is the acceleration of most business processes by conducting them electronically. In this case, the information is transmitted directly to the recipient, bypassing the stage of creating a paper copy at each stage.

Every year there are more and more Internet users, numerous services are multiplying and expanding, and new technologies are being introduced. Trade entered the World Wide Web, and a variety of paid services began to be provided via the Internet. This inevitably caused the development of electronic payment systems (EPS), providing payment for goods and services provided via the Internet. The means of payment on the Internet are so-called electronic, or virtual, money.

A distinctive feature of electronic money is that when making payments using it, the user’s bank account is not affected and money is not spent from it. In addition, unlike debit and credit cards, EPS provide users with a high degree of anonymity.

New technologies are changing the rules of competition. Companies have the opportunity to carry out direct mutual settlements without the participation of financial intermediaries, including through computer networks. There is a threat of ousting banks from the sphere of intermediation in payments. The development of database exchange systems works in the same direction: it speeds up the movement of information and, consequently, financial flows, thereby reducing the intermediary capabilities of banks. A number of experts believe that the increased use of electronic money can lead to a significant reduction in bank income from settlement operations. All this forces banks to radically restructure their activities.

Tools

As customer needs have grown, the overall demands on financial service providers have also changed: it is now important for customers to freely choose how, when and where to contact their bank. In many countries, the number of online accounts is already in the tens of millions. Credit institutions are quickly setting up call centers and efficient online access. Many banks spend approximately a fifth of their investments on developing services via the Internet and mobile banking.

The variety of ways to access banking services gives the client the opportunity to determine the format of the relationship with the financial service provider. If in classic branch transactions he is bound by the place and time of operation of his bank, now he can decide for himself how to carry out transactions with the bank. In addition, the client benefits from fast banking transactions using modern access methods (the Internet, for example, allows this to be done around the clock and on weekends). By offering different sales channels, the quality of advice increases: Via a call centre, customer service center or the Internet, information, offers or assistance can be obtained quickly and easily at any time, regardless of location.

In turn, banks, using various contact channels, receive more complete and accurate information about clients and their needs. Thus, the use of online tools helps to determine their investment preferences. Information is collected and refined by actively interviewing customers, and combining all the information received creates an overall picture, bringing the customer closer to the bank.

Well-organized use of various distribution channels allows you to reduce costs and at the same time increase sales. Knowing the client's interests makes it possible to personalize information and make offers that meet his needs. At the same time, different groups of consumers receive the specific offers they need more quickly than with other types of contacts, for example, through mail. In addition, direct selling requires significantly lower costs than maintaining a wide branch network, reducing marketing costs, and at the same time increasing the likelihood of generating interest in the product.

With the help of a Customer Relationship Management (CRM) system, all customer data is combined, creating a complete business profile of the customer, which can be used for targeted modern management. Moreover, the CRM system allows you to segment consumer groups and use targeted management. The Order Management System (OMS) complements the CRM, and improved data management is achieved through the Account Data Management System (ADM). The integration of ADM, CRM and OMS systems ensures that the data status is synchronized across all channels. Changes to personal data can be promptly carried out by clients themselves using the Internet portal, which, on the one hand, is beneficial for clients, and on the other, reduces the bank’s costs for centralized data management and improves the quality of client data.

Classic credit institutions often find themselves at a disadvantage compared to the relatively young “direct banks”. Universal banks have been building their IT infrastructure over a long period of time and gradually differentiated it, in most cases making customized solutions specifically for one bank. The result is overly complex structures that banks or service providers themselves are forced to adapt constantly and at great expense. Direct banks, on the contrary, in most cases rely from the very beginning on standard software or a modular structure that allows the development of a package of standard software for special applications as needed. The task of "direct banks" in the field of IT is to competently form technical and substantive connections between individual subsystems to ensure higher system integration while simultaneously reducing costs.

It is not surprising that recent years have seen a rapid increase in the number of electronic banking technologies offered on the market. Electronic direct deposit systems, automated teller machines, debit cards and other technologies allow financial institutions to speed up the processing of banking information and reduce costs. A number of such technologies (banking services and products over the Internet, bank salary cards, etc.) serve mainly to retain old and attract new customers. For consumers, choosing an electronic banking format means saving time and money, as well as the opportunity to receive services around the clock.

As defined by the Basel Committee on Banking Supervision (BCBS) " electronic banking, or e-banking (e-banking), includes the provision of retail and small-volume banking products and services through electronic banking channels, as well as significant-volume electronic payments and other wholesale banking services electronically." Internet banking is a subtype of electronic banking. To denote the provision of banking services, in contrast to the provision of information, the term "transactional e-banking".

Banks may combine traditional and electronic modes of operation (brick and click banks) or offer their products and services exclusively or primarily through electronic channels. Such virtual banks can be created in various ways: as a new independent bank receiving an independent license, as a new bank within a banking holding company, by turning an existing bank into a virtual bank, or as a division of it, i.e. as a virtual bank with a trade name (Trade Name Virtual Bank).

Internet banking is most widespread in Austria, Finland, Korea, Singapore, Spain, Sweden and Switzerland, but it is mainly dealt with by traditional rather than virtual banks. In Finland, up to one third of bank customers use Internet banking. In the US, Internet banking was concentrated in the largest banks, which accounted for 90% of the country's banking assets. Transactional Internet banking was offered by 40% of banks, and 20% had plans to develop it. The number of virtual banks remains relatively small. There are currently 20 stand-alone virtual banks and about 30 branded virtual banks operating in the United States. There are a dozen virtual banks in the EU, which are either independent or divisions of traditional banks. There are also several non-standalone virtual banks operating in Asia (in China and Singapore).

Electronic banking covers a fairly extensive and diverse group of banking technologies. Among them we can highlight products and services in the service sector, i.e. at the initial point of service (front-end), and in the operational area, i.e. at the final point (back-end). The first group includes products and services that the consumer chooses, the second includes technologies used by financial and trading institutions and other providers to complete transactions. Some electronic products and services are linked to a consumer's bank account, while others are not. However, recently the differences between these groups of electronic products and services are gradually disappearing. For example, plastic cards, whether linked or not linked to a bank account, can be used to pay for in-store purchases as debit cards.

Interestingly, nine out of every ten households in the US, for example, have a bank account. However, 95% of all households with a bank account use at least one electronic payment transfer format - electronic direct deposit, ATM cards, debit cards or online services linked to their bank account.

Nearly two-thirds of all wage earners in the United States receive their wages by direct electronic transfer to their bank account (direct deposit). More than 4/5 of people receiving social benefits use this format. This was made possible by the development of the Electronic Transfer Account, a consumer bank account that allows recipients of federal benefits and pensions to access them through ATMs and point-of-sale terminals. By the end of the first decade of this century, more than 100 thousand such accounts had been opened.

ATM cards, through which consumers access their bank accounts, were introduced in the late 1960s. At the end of the last decade, in the same USA, more than 1 billion transactions were carried out monthly with their help. Consumers use such cards not only at their (local) banks, but also at other locations around the world. More than 70% of ATMs are located outside banking premises.

Debit cards linked to a bank account which are sometimes called check cards, can also be used through ATMs, as well as through point-of-sale terminals and the Internet. The variety of ways to use them determines the high popularity of this electronic product. In 2000 - 2010 The number of transactions using debit cards in the United States has increased annually by approximately 45%. In 2010, the number of transactions through POS terminals using debit cards amounted to more than 500 million per month.

Payments by advance order(Preauthorized Debits), or automatic bill payment(Automatic Bill Payments), allow consumers to use money in their bank account to automatically pay for housing, repay a loan or pay rent, etc. on a regular basis on a certain day. Unlike ATM cards and debit cards, which are “active” technologies (the consumer can interact with them while using them), these technologies are considered “passive”: the consumer gives the order once and does not subsequently interfere with the money transfer process.

Computer Banking also allows the consumer to access a bank account to check account status, transfer money, pay bills, and perform other transactions such as making payee instructions or suspending payment orders.<1>. Consumers use the Internet for individual financial activities, such as monitoring investment accounts, credit card status, credit purchases, investments, and insurance. In addition, consumers can transfer their funds from one bank to another electronically - either using a special program or using the services of their website.

<1>The first forms of computer banking were based on a dial-up connection (via a telephone line) directly to the bank's computer; Currently, all computer banking is carried out through Internet connections.

Electronic products not associated with a bank account store information about a certain amount of money in a corresponding database or directly on a plastic card. This product group includes prepaid or advance cards(for example, telephone, gift cards), salary cards to which salaries are transferred, college and military cards (college cards, military cards), cards to which social benefits are awarded to victims of natural disasters and catastrophes, and children's cards to which children's benefits from state budgets. All of these cards are very similar to regular debit cards in that they are used to pay for purchases<2>. All cards in this group have a magnetic tape that allows you to read data about the amount of money due to its owner. Some maps may be reloaded with information.

<2>Cards not linked to a bank account came into use in the 1970s. and were initially issued as disposable ones and for a small amount.

Cards in this group are used in "closed systems," such as on a college campus or at a specific retail store, or in "open systems," including a network of ATMs or at any point of sale that accepts MasterCard or Visa cards. The characteristics and conditions for using cards that store funds are very diverse. Cardholders may or may not be charged a fee for their use. The period for withdrawing funds from the card may be limited to a specific date. If you don't use your money within a certain period of time, you may be charged a fee. Some cards allow their owners to view the movement of money on the card, control payments and balances online. Some card registration programs have the ability to report lost or stolen cards.

Salary cards are a paperless mechanism for transferring wages due to employees to a plastic card. For the employer, such cards are beneficial because they significantly simplify the process of calculating and issuing wages to employees who do not use direct electronic transfer of funds to their bank account, including because they do not have such an account, and also because they reduce reimbursement costs lost or stolen checks. The benefit for employees is that they do not have to pay to cash checks. The cardholder gains independence from the day and time of issue of funds, and he does not have to carry cash with him. Salary card funds can be credited to the individual accounts of individual employees or to the joint account of the employing company with their subsequent distribution among employees’ subaccounts. For financial institutions, salary cards are beneficial because they allow them to expand their potential customer base and generate additional income through fees for servicing these cards.

In 2010 in the United States, for example, about 15% of employers used payroll cards. Only 3% of households (about 1.5 million) currently use these cards, but interest in this electronic product is growing. Approximately 70% of salary card funds are cashed out monthly through ATMs, and the remaining money is spent on paying for purchases through cash register terminals.

Smart cards- cards with a microprocessor - are a type of plastic card that reflects funds. The microprocessor allows you to perform various operations with the information entered on the card. Smart cards are increasingly used in everyday life, especially for purchases. They have been in use since the early 1990s. The largest issuer of smart cards in the United States is the federal Department of the Treasury, which uses them to pay salaries and compensation to American military personnel around the world.

According to some studies, smart cards have not gained widespread acceptance among consumers and merchants because they do not provide additional benefits compared to other similar payment instruments. However, they are successfully used in some “closed systems”, including transport systems, within universities, and military bases.

Use of various banking technologies in developed countries, %

	2000	2010
Electronic, including:	43	55
direct funds transfer	25	48
cards for ATMs	12	37
debit cards	15	34
payments on behalf	14	21
telephone cards	4	21
computer banking	1	5
smart cards	23	49
advance cards	1,1	1,7

Non-electronic, including:	77	58
personal contact	59	51
by mail	19	31
in person by phone	1,9	1,7

Online brokerage

A type of financial market virtualization is online brokerage, or trading via the Internet in stock assets - stocks, bonds, shares in mutual funds, guarantees, etc.

In recent years, Europe has seen a rapid increase in the number of such brokers, both due to traditional and new players - commercial banks, stock exchanges and other financial institutions. Currently, this segment of the financial market involves “physical” banks (BNP-Paribas, Bred, CCF, etc.), traditionally specializing in brokerage operations, and brokerage companies (CPR, Ferri, Dubus, Financiere Warny). The new virtual participants implementing the “electronic commerce model” are: the Boursorama exchange (formerly Fimatex), i-Bourse, Self Trade, eCortal, Fortuneo, Bourse Direct, Consor and Comdirect.

Over the past 10 years, the number of clients attracted by online brokers has increased dramatically. By this time, traditional banks and brokers had successfully mastered the virtual market, either by creating their own e-business models or by mastering the models of other companies. At the same time, they sought to maintain the types of services intended for basic customers, while simultaneously increasing knowledge in the field of virtual commerce.

By the end of 2010, the top five online brokers in Europe by volume included four companies from Germany and one from France (Fimatex). The leading company in the number of online payments was the German Commerzbank, which entered the French market in 2000 by purchasing one of the leading French brokerage companies Paresco Bourse. The positions of individual online brokers vary significantly in the number of online settlements and the volume of transactions. Thus, i-Bourse was in sixth place in Europe in terms of the number of online payments, and in third place in terms of transaction value. This situation is a reflection of the marketing strategy priorities of individual online stockbrokers.

Depending on the marketing strategy, active and passive traders are distinguished. The former focus primarily on attracting new customers, while the latter strive to get customers to conduct as many transactions online as possible. The analysis shows that nine out of ten online brokers pursued a strategy of first increasing the number of transactions and then increasing their volumes during their international expansion.

Unlike the more mature online market in the US, where the top five companies account for over 80% of online brokerage activity, the European market is less concentrated, with the top five companies controlling about 60% of the market. In France, for example, there are more than 50 operators in the online brokerage market, including large banks such as Credit Lyonnais and Banques Populaires. In addition, in Europe there is still the possibility of new participants entering the market, while in the USA this market is already divided between the largest brokers.

Experts note the growing interest of the European population (France, Germany, Italy, the Netherlands, Spain, Sweden and the UK) in stock assets, which indicates an important shift in the form of savings. Thus, the share of Europeans owning stock assets increased from 13% in 2000 to 22% in 2010. However, the share of owners of stock assets who are prone to online transactions remains relatively low in Europe. Only 5% of Europeans settle stock transactions online, compared to almost 15% of US residents.

The recent downturn in the stock market has altered the relationship between online brokers' commission income, which has declined, and their fixed costs, which have risen to high levels in previous years, causing many operators to suffer losses. A consequence of the recession was a trend towards consolidation in the industry.

Over the past five years, with the constant growth in the number of online customer orders, there has been the emergence of speculative transactions. By the beginning of 2011, the share of online transactions amounted to 14.5% of all brokerage transactions with stock assets. Germany leads Europe in the number of online brokerage settlements, accounting for almost half of all such settlements. In second place is Sweden (12% of the European market), followed by Italy (10%).

The rise of online brokerage is driven by two main factors. First, the use of Internet technologies has allowed new providers to achieve success in the stock market. Non-banks or those close to the banking sector were able to fulfill orders from retail clients without the expense of maintaining a high-cost service network and labor-intensive advisory services, and therefore could keep prices for their services low. Secondly, the increase in stock market prices attracted a significant number of new clients. A wide range of advantages of working via the Internet (availability of information, real-time mode, high market transparency, the ability to choose providers with a narrow specialization) combined with rising prices for exchange-traded assets prompted primarily large investors to place their orders online without using the services of consultants .

However, in the wake of the rapid rise, a large number of heterogeneous companies have joined online brokerage activities without sufficient knowledge and experience in the stock market. Meanwhile, the situation on the stock markets has recently remained very unstable, and therefore the demand for online brokerage services is subject to sharp fluctuations. Statistics show that market changes in the number of orders executed online are more significant than in the number of orders executed traditionally, and therefore online transactions are riskier for brokers in terms of profitability. It is also important that an increase in the number of online transactions does not directly lead to an increase in brokerage income.

Despite this, online brokers can use a number of alternative sources of income, as evidenced by the example of Self Trade, which received bank status and reduced the share of income from online brokerage activities. In general, online brokers have three options: becoming a bank, expanding the range of services offered (through educational products and services, life insurance services, etc.) or simultaneously moving in both directions and gradually transforming into a “financial supermarket”, having a diversified income portfolio.

Online brokerage is changing the landscape of the brokerage market and opening the door to new competitors. At the same time, only those players who possess certain technological capabilities, have access to a clientele and have knowledge about clients can gain competitive advantages in the online market. For example, potential new competitors in the online market are those companies that have a corporate web portal and can attract customers with additional services, thereby increasing their customer base. Another group of potential new players are financial institutions (banks and insurance companies), whose large customer base can become a dangerous weapon in the fight against existing and newly entering online brokers.

Recently, the following four models have been identified, used by online brokers:

work within the country to seize dominant positions (Comdirect and Fimatex);
collection of assets around the world (Cortal, Consors and DAB Bank);
creation of a banking subsidiary (Line Bourse, a subsidiary of Banques Populaires);
offering all online services (Boursorama).

Online brokerage also leads to new positioning based on new products (services) offered to consumers. The most successful approach appears to be one that prioritizes Service Complexity. It allows online brokers to limit the involvement of external intermediaries and gain control over the entire production chain. An example of a company using this marketing approach is Boursorama, which offers consumers a wide variety of services, including the provision of economic and financial information, financial analysis of companies, analysis of stock price movements, stock market assessments, educational products, etc.

In the future, as the number of competitors operating in the Internet banking market expands, it will become increasingly difficult for individual companies to differentiate their products and services. Thus, the development of online brokerage activities leads to the emergence of a new problem - the problem of differentiation of exchange operators. To a certain extent, its solution can be facilitated by new technologies that give brokers the opportunity to use different technical solutions and tools.

So far, the most common channel of contact with customers is traditional telephone communication, but the opportunities for obtaining competitive advantages when using it are the lowest. Third-generation telephone technologies will be the basis of a major technological shift in the sphere of contacts with consumers: apparently, in the future, the leading position will be taken by the “mobile Internet”, which will provide customers with full mobility combined with interactivity and will greatly influence competitive advantages, since it will provide a fairly broad scope for differentiation.

Information support of a brokerage company is of strategic importance, since active investors need to receive the latest information (about daily transactions, the structure of the asset portfolio, etc.). However, such collateral is one of the main limitations of the expansionist strategy of some online brokers, since it requires significant investment in technology, which increases fixed costs and reduces the profitability of the broker company. Finally, the most important issue is ensuring the security of transactions, which is very important to maintain customer trust.

Traditional brokers usually lose control over some stages of the production chain, where Internet technologies are mainly used, and are forced to make a strategic choice between a niche strategy (controlling an individual stage of the chain) and a strategy of control over the entire chain, in which the integration of individual links is subordinated to the task of creating such a structure proposals that reduce costs and increase created value. Choosing the first strategy means that the bank recognizes the superiority of new competitors in the field of managing customer contacts via the Internet. If the second strategy is chosen and it does not depend in any way on the old strategies and structures, then the cost-based approach becomes dominant. This repositioning is expressed in the division of production and brokerage services and in the strengthening of the specialization of banking institutions in one or two areas where there are comparative competitive advantages.

Both of these strategies involve numerous risks. Thus, when specializing in the production of online brokerage services, i.e. In supplying products to other service banks/companies, retail banks agree to compete with their own distribution network. An example is the Banques Populaires group, which, through its subsidiary Xeod Bourse, carries out distribution functions for the online broker Consors. The latter thus gained the opportunity to establish itself on the French stock market and compete with French brokers, in particular with the stock exchange division of the Banques Populaires (Line Bourse) group.

The US has five times more online brokers than, for example, France, due to the large size of the US market. However, in terms of the ratio of the number of such brokers to the population, the United States and France are at a comparable level. Regarding the quality and technological characteristics of online brokerage services in these two countries, US brokers differ in their desire to include additional services in the production chain, including through agreements with other financial intermediaries (for example, cross-selling). Americans, in addition, are guided by the model of a kind of supermarket (one-stop-shop), when consumers can buy all the necessary financial products and services from one operator.

The US brokerage offering is more diversified and innovative. The main task of brokers is to stand out from the crowd of competitors. To do this, the following strategy is used: initially, the broker company offers the client purely brokerage services on its website, then the website turns into a financial portal where one can find integrated information about all the services provided by the company. The last stage of evolution is the creation of a “financial supermarket” that can satisfy any financial request of a client. An example is Bank of America and its “build your own bank” concept, which repositions customers as “consumer-entrepreneurs.” In this case, the consumer himself forms and personalizes his relationship with the bank. In turn, the bank develops autonomous and specific relationships with each specific consumer, and also creates an extensive database for commercial and marketing purposes.

Profitability is perhaps the defining issue that online brokers have to overcome. On the one hand, as practice shows, transactions via the Internet are 25 times cheaper than transactions in a traditional office; on the other hand, creating a specialized online company requires significant costs for marketing, staff training, introduction of new technologies and security. This is the main reason why online brokers have a much harder time reaching the break-even point than traditional brokers. It is no coincidence that online brokers pursue a targeted marketing strategy, addressing first of all the most active private investors. They take advantage of their cost structure advantages (no need for physical presence during transactions and low overhead costs compared to traditional banks) and invest the bulk of their funds in marketing activities aimed at winning and strengthening the loyalty of new consumers of their services. This can be achieved, in particular, due to the fact that the level of commissions from virtual brokers is significantly lower than that of traditional players, and this provides considerable benefits to private investors.

Consumers of financial products prefer recognizable financial brands rather than products from companies that are generally recognized for their use of modern technologies. Having a powerful, well-known and differentiated brand plays a key role in gaining customer trust when transacting online. Therefore, traditional banks that decide to engage in online brokerage activities must determine whether they will do so under their own name or through a subsidiary. In the first case, they gain an advantage by leveraging their image, but risk ruining it if clients are not satisfied with their online brokerage services. In the second case, they must develop an image as new players in the online market, which means that they will need to increase marketing costs and therefore reduce profits in the coming years. In France, the cost of acquiring a client averages 500 euros, but they vary by individual company: Fimatex - 293 euros, Consors - 325, Self Trade - 818, Bourse Direct - 1448 euros.

Online brokers, especially since the 2001 crisis, are now well aware that due to the volatility of the stock market, an “expansion at all costs” strategy cannot be pursued and costs and returns must be constantly monitored. As a result, the strategy of online brokers has three basic goals: cost reduction, income stabilization and long-term growth at reasonable costs. Various means are used to reduce costs, including marketing, information technology, personnel, etc. Thus, Boursorama decided to close its foreign subsidiaries, Comdirect announced a reduction in working hours. In addition, all online brokers have attempted to negotiate price changes for their services.

To stabilize income, most online brokers increase rates during periods of falling stock prices, but there are examples of other solutions. Thus, DAB Bank introduced a flexible fee scheme, in which the costs of providing the service include a stable part, which ensures a certain level of income, and a variable part, which allows increasing profits during periods of rising prices for stock assets. Another solution that Boursorama used was to offer better and more complex (integrated) services in order to increase consumer activity. Some online brokers have resorted to diversifying their activities, particularly through advisory services. To ensure long-term growth at reasonable costs, many online brokers (DAB Bank, Fimatex, Boursorama) use consolidation and collaboration.

Online trading

An increase in the number of EPS and expansion of their functionality leads to a reciprocal effect - the development of online stores. Indeed, for online stores, payments through electronic payment systems are very convenient: there is no need to open bank accounts or conduct cash transactions with cash. In addition, transfers in electronic form occur quite quickly. To become a participant in settlements, an online store must register in the system. Registration is carried out upon application sent to the administrator. The online store website contains information about the payment system that is used to pay for purchases. The client transfers money for the purchase to the store’s account in a convenient way.

It is important to note that transfers of funds to EPS are irrevocable, i.e. An erroneous payment can only be returned by the good will of the person to whom the payment was received. Only in exceptional cases can you still win back by contacting the person who accepted the cash, i.e. with a company engaged in servicing payment terminals.

In general, trading via the Internet is economically beneficial: there is no need to rent and maintain a sales area, purchase commercial equipment, certify workplaces, etc. And sales consultants can be replaced by lower-paid warehouse workers. And for a busy buyer, there is an opportunity to quickly purchase goods without leaving home or office: the ordered item will be delivered by courier.

It is especially convenient to purchase so-called downloadable goods via the Internet that do not require physical delivery: software, electronic publications (books, magazines), music. The user receives all this immediately after payment, which is very convenient for both parties to the transaction - both the seller and the buyer. It is no less convenient to pay for services: utilities, for a cell phone, domain name registration, hosting, banner advertising, to pay for receiving all kinds of PIN codes, passwords for accessing services, etc.

Transfers between individuals, convenient in all respects, have also become quite widespread. Money can be received from another participant in the system, for example, as a gift, loan, payment for services or work performed, etc. Such transfers are one of the most popular opportunities, which are provided by almost all electronic payment systems.

Risks of e-banking

The transition to an electronic way of doing business radically changes the balance between the different types of risks faced by banks. The specific nature of electronic banking has the greatest impact on operational, legal and reputational risks.

As a result of the use of new technologies, changes will be required in supervisory procedures regarding risk factors such as security, information confidentiality, data and system integrity, system performance, and outsourcing. For virtual banks that carry out all transactions through electronic channels, these factors are of paramount importance. In many countries with widespread e-banking, banking supervisors have developed internal instructions for inspectors, as well as, in some cases, guidelines for banks (examples include France, Belgium, the USA, Singapore).

Prime place in operational risk Security is a priority in e-banking. Unauthorized access to a system through various types of attacks to exploit confidential information, manipulate data, deny service, or compromise the integrity of information all require vigilant attention. Security measures must ensure the confidentiality of information and the integrity of the system and data. They consist of a combination of hardware and software, administrative procedures and personnel management methods. The basic principles of security include separation of functions and access control, and the main measures include careful testing of firewalls (firewalls), reliable encryption and identification methods, authorized access procedures, adequate backup and recovery methods, and updated anti-virus tools.

System performance is an equally important risk criterion along with safety. Effective use of the potential of electronic banking requires round-the-clock and reliable operation of systems, short response times and rapid recovery. It is also impossible to do without planning production capacities associated with the growth of operations and the development of new technologies. This includes financial planning for new investments, workforce planning based on required qualifications, and the ability to obtain services from external providers.

Recently, a significant operational risk factor has been the growing dependence on outsourcing, which can serve as an additional source of threat and also affect data integrity and system performance. Therefore, necessary elements of bank risk management should include conducting thorough background research, ensuring the adequacy of contracts, developing situational plans and monitoring the quality of external services provided. At the same time, higher competence of the external provider of a particular service can lead to lower costs and operational risk for a given bank.

Factors risk of loss of reputation In addition to the operability and integrity of the system and confidentiality of information, there are any other security concerns of operations. For banks that rely entirely or predominantly on electronic service channels, the risk of loss of reputation is higher than for traditional banks. The difficulties experienced by one virtual bank can have an impact on other virtual banks if customers lose confidence in all electronic channels or perceive bank weaknesses as ineffective oversight of the system as a whole. Bilateral cooperation between home supervisors and host country authorities is critical to minimizing the risk of national reputational damage resulting from lax host country supervision. As reputational risk increases, crisis management plans and procedures required in the event of loss of confidence in e-banking also increase in importance.

E-banking can also increase the degree legal risk, since virtual banks do not always have sufficient resources to adapt to the conditions of the new jurisdictions in which they offer services. If a special license is not required to open operations in the host country, legal risk may be even greater as a result of the lack of communication between the virtual bank and the host country supervisor and, therefore, the bank's ignorance of regulatory changes.

Two other important sources of legal risk are the possible uncertainty as to which legislation applies to e-banking transactions - the licensing jurisdiction or the jurisdiction in which the services are offered, especially since these laws may conflict with each other, and the resulting difficulty of enforcing enforcement of laws, especially those related to new areas of law such as electronic contracts and digital signatures.

Important and other risks. Electronic banking poses strategic and business risks. Factors that differentiate the risk profile of e-banking from other strategic decisions include the complexity of the technology and its rapid change, the immateriality of national borders for banking and competition, the very novelty of e-banking, which makes it difficult to predict business opportunities, the global nature of competition and the ease of changing consumer preferences. In an effort to build a consumer base, virtual banks are adopting highly competitive pricing strategies that deserve regulatory attention. The need to use the latest and proven technologies increases the level of start-up investments, the need for adequate competencies and resources. Supervisors must ensure that bank management considers relevant risks and carefully selects strategic decisions so that increases in uncertainty are offset by additional benefits.

Expansion of the geographical scope of the clientele due to electronic servicing and the lack of direct contact with consumers can affect credit risk. Credit risk analysis is difficult when there is limited information about business conditions in a given country, especially when there are no personal relationships with consumers. Typically, banks offering services in regions or countries that are less familiar to them will experience a greater degree of any type of risk. At the same time, wider geographic coverage could result in diversification and improvement in the structure of the loan portfolio, which could reduce the credit risk of individual banks.

E-banking can also affect liquidity risk. The higher risk of virtual banks may require higher levels of liquidity. Supervisors may need to strengthen monitoring, as well as monitoring the adequacy of collateral that can be used for temporary liquidity support. In principle, the central bank's function as lender of last resort should apply in the same way to virtual banks as to traditional ones. Temporary loans against collateral must be provided by the central bank to illiquid but solvent virtual banks licensed in a given country. Lending to a virtual bank at risk of insolvency should only be considered if it is important from a systemic point of view; However, it is preferable to use budget funds in this case.

The impact of e-banking on market risk in two ways. On the one hand, increasing issuance and trading of securities via the Internet may increase price volatility, thereby increasing the risk of banks engaged in deposit brokerage, transfer of loans to third parties or securitization programs, and on the other hand, increased trading volumes of securities may increase their liquidity . Supervisors should assess the impact of these factors on individual banks and the quality of their management of related risks.

E-banking should not have any impact on currency risk. Even if individual banks are able to accept more foreign currency deposits and/or provide foreign currency loans to an expanding international clientele, foreign exchange risk is determined by the ability to hedge any position, regardless of its origin. However, hedging currency risk for currencies with insignificant turnover may require significant costs and appropriate analysis.

A fairly significant problem associated with electronic banking, in particular Internet banking, is the possibility of using it for money laundering. In this regard, a number of countries have adopted specific regulations and guidelines for customer identification. Some countries (USA, UK) have extended the existing regulations for postal and telephone banking to Internet banking, others have developed additional recommendations. It is recommended, for example, to conduct a series of identity checks based on various documents. It is noted that monitoring electronic transactions requires special vigilance. The proposed anti-money laundering measures are no different from those applied in regular banking transactions, but require greater attention, especially quick response and the possibility of suspending the execution of the transaction. Banks are required to monitor and profile transactions in each customer's account to identify suspicious transactions. Suspiciousness criteria include, for example, certain regions, especially non-cooperative countries and territories according to the FATF classification, as well as significant volumes and series of transactions. The global nature of e-banking increases the importance of international coordination of legislation and regulation to avoid the creation of havens for criminal activity. Hence the FATF recommendation to achieve uniformity of standards across jurisdictions.

In modern life, consumer education plays an important role in reducing risks. Banks should provide easily accessible and understandable advice regarding compliance with security and confidentiality measures. Supervisors can be a critical advocate for consumer protection by supporting learning and requiring banks to pay attention to these issues.

Some supervisory authorities consider training consumers of banking services as one of their tasks. For example, in the United States, the Federal Deposit Insurance Corporation provides information on its website that allows you to identify officially registered electronic banks included in the insurance system, provides advice and assistance on Internet banking, as well as official documents warning about organizations that may conduct unauthorized banking transactions.

Increasing risks as a result of the impact of technology and globalization factors necessitate international cooperation between supervisory authorities and require the inclusion of electronic banking risk management as an integral element of banking risk management policies. Risk factors for electronic banking also include dependence on a limited number of highly specialized technology providers and the possibility of loss of trust in these technologies and in the security of electronic transactions, which can cause a chain reaction.

Remote banking services (RBS)- a general term for technologies for providing banking services based on orders transmitted by the client remotely (that is, without his visit to the bank), most often using computer and telephone networks. To describe remote banking technologies, various terms that in some cases overlap in meaning are used: Client-Bank, Bank-Client, Internet Bank, Remote Banking System, Electronic Banking, Internet Banking, on-line banking, remote banking, direct banking, home banking, internet banking, PC banking, phone banking, mobile-banking, WAP-banking, SMS-banking, GSM-banking, TV-banking.

Types of remote banking services (RBS)

Remote banking technologies can be classified according to the types of information systems (hardware and software) used to carry out banking operations:

Client-Bank systems (PC-banking, remote banking, direct banking, home banking)

These are systems that are accessed through a personal computer. Client-Bank systems allow you to send payments to the bank and receive account statements (information about the movements of funds in the account) from the bank. The bank provides the client with: technical and methodological support during installation of the system, initial training of the client’s personnel, software updates and support in the process of further work. Client-Bank systems provide maintenance of ruble and foreign currency accounts from a remote workplace. But not all banks provide clients with full management of their accounts, deviating from world standards. For security purposes, the Client-Bank systems use various cryptographic information protection systems (CIPF), which ensure encryption and control of the integrity of information transmitted to the Bank. The use of Client-Bank systems for servicing legal entities is still one of the most popular remote banking technologies in Russia, however, with the development of the legislative framework and technologies, more and more Banks are offering accessible remote banking services for individuals. Client-Bank systems are fundamentally divided into 2 types: thick client and thin client.

Bank-Client

The classic type of Bank-Client system, also often called “thick client”. A separate client program is installed on the user's workstation. The client program stores all its data on the computer, as a rule, these are payment documents and account statements. The client program can connect to the bank via various communication channels. Most often, to connect to a bank, a direct connection is used via a modem (the technology is becoming a thing of the past) or via the Internet. The advantage of “Bank-client” systems is that the client does not need to be constantly connected to the banking part of the remote banking system to directly work with the client part of the system. Another advantage of some types of “thick client” systems is their rich internal functionality for separating user roles and analyzing incidents. This is particularly true for legal entities. Databases of this type of system (meaning thick client), as a rule, can be installed on a full-fledged database management system (DBMS), which for organizations with large document flow makes it possible to provide convenient database backup, as well as full-fledged work with the network version without loss of document processing speed.

Internet Client (thin client; Online banking, Internet banking, WEB-banking)

The user logs in via an Internet browser. The Internet Client system is hosted on the bank's web server. All user data (payment documents and account statements) are available on the bank's website. Using Internet Client technology, systems are also built for mobile devices (mobile bank website) - PDA, smartphones (Mobile banking (mobile-banking). Information services with a limited set of functions can be provided based on the Internet Client.

Remote banking via the Internet has a number of both advantages and disadvantages. Thus, the advantages for organizations providing such services include the low cost of operating the Internet system (all updates are carried out only on the web server, without being replicated among clients); possibility of integration with client’s accounting systems; availability of Internet services for the end user; maintaining the loyalty of customers who actively use these services.

The disadvantages include, first of all, the poor security of the Internet from unauthorized access. Despite the desire of Internet solution developers to create and improve a system for protecting transmitted messages, numerous potential dangers continue to appear. Reasons: shortcomings of operating systems, communication programs and browsers, human factor. Maintaining the level of protection at the appropriate level requires significant material costs, which can be afforded mainly by large banks that count on significant income from providing such services.

Telephone-Bank systems (phone-banking, telebanking, Telephone-Client, SMS-banking)

As a rule, Telephone-Bank systems have a limited set of functions compared to Client-Bank systems:

Transfer of information from the client to the bank can be done in various ways depending on the implementation of the system:

Communication between the client and the telephone service operator (Call Center).
Using a push-button telephone (Touch Tone Telephone) and a voice menu (computerized telephone communications (IVR (Interactive Voice Response) technology), Speech to Text, Text to Speech).
By sending SMS messages (SMS banking).

All of these functions become available only after the client has been personally identified by the bank based on the personal identification system. Today, the most advanced and secure system is a system based on biometric identification cards.

Service using ATMs (ATM banking) and self-service banking devices

Remote banking technologies using self-service banking devices are among the most popular in the world and in Russia.

ATMs and terminals fall into the RBS category, since they almost entirely provide banking services remotely, without the client visiting a banking organization. In addition, an important factor for their inclusion in this category is the possibility of duplicating the basic functions of a standard bank-client, which the bank provides to individuals for making payments.

There are several types of RBS based on the type of devices used:

RBS using ATMs (ATM banking) - based on software installed on bank ATMs. See also Bank card
RBS using payment terminals;
Remote banking using information kiosks.

Legal regulation

RBS services are regulated by the following provisions of the Central Bank of Russia:

Regulations dated July 16, 2012 No. 385-P “On the rules of accounting in credit institutions located on the territory of the Russian Federation”;
Regulations dated June 19, 2012 No. 383-P “On the rules for transferring funds”;
Regulations dated April 24, 2008 No. 318-P “On the procedure for conducting cash transactions in credit institutions on the territory of the Russian Federation” (clause 2.8 “Organization of work with cash when using ATMs, electronic cashiers, automatic safes and other software and hardware systems” );
Regulations dated June 23, 1998 No. 36-P “On interregional electronic payments carried out through the settlement network of the Bank of Russia”;
Regulations dated March 12, 1998 No. 20-P “On the rules for the exchange of electronic documents between the Bank of Russia, credit institutions (branches) and other clients of the Bank of Russia when making payments through the settlement network of the Bank of Russia”;
Temporary regulation No. 17-P dated February 10, 1998 “On the procedure for accepting for execution orders of account holders signed by analogues of a handwritten signature when conducting non-cash payments by credit institutions.”

In addition, the following requirements must be taken into account:

Federal Law of April 6, 2011 No. 63-FZ “On Electronic Signature”;
Bank of Russia Standard STO BR IBBS-1.0-2010 “Ensuring information security of organizations of the banking system of the Russian Federation;
Letter of the Bank of Russia dated 04/03/2004 No. 16-T “On recommendations on the information content and organization of websites of credit institutions on the Internet” (instead 128-T dated 10/23/2009);
Letter of the Bank of Russia dated August 30, 2006 No. 115-T “On the implementation of the Federal Law “On combating the legalization (laundering) of proceeds from crime and the financing of terrorism in terms of identifying clients served using remote banking technologies (including Internet banking) ";
Letter of the Bank of Russia dated April 27, 2007 No. 60-T “On the specifics of servicing clients by credit institutions using technology for remote access to the client’s bank account (including Internet banking)”;
Letter of the Bank of Russia dated December 7, 2007 No. 197-T “On risks in remote banking services”;
Letter of the Bank of Russia dated March 31, 2008 No. 36-T “On recommendations for organizing the management of risks arising when credit institutions carry out operations using Internet banking systems”;
Letter of the Bank of Russia dated January 30, 2009 No. 11-T “On recommendations for credit institutions on additional information security measures when using Internet banking systems”;
Letter of the Bank of Russia dated October 26, 2010 No. 141-T “On Recommendations on the approaches of credit institutions to choosing providers and interacting with them when providing remote banking services.”

RBS services are regulated by the following provisions of the National Bank of Ukraine.

Internet banking. Electronic banking is also known as “virtual banking” or “internet banking”. Internet banking refers to electronic banking - it is like electronic business in the banking industry. Internet banking today is a common trend in any country. Everyone should know about all the positive and negative aspects of technology and how to use this object correctly. Electronic banking is defined as completing banking transactions using a computer or using a telephone that has access to the Internet. Electronic banking allows customers to access many different banking services via the Internet. Customers do not need to contact or call banks unless there is a problem that cannot be resolved online.

Electronic banking is based on banking activities based on information technologies for remote banking. Under the IT system, banking services are provided through a computerized system. This system includes direct interaction with customers. Clients do not have to visit the bank premises.

Popular services within electronic banking

Popular services that are achieved through e-banking are: ATMs, Credit Card, Debit Card, Smart Cards, Electronic Fund Transfer (EFT), Payment Truncation Check, Mobile Banking, Internet Banking, Telephone Banking and others.

Advantages of Internet banking

The main advantages of Internet banking are:

the cost of operation per unit of service is lower;
convenience for clients, since they are not required to visit a banking institution;
very low error rate;
the client can receive funds at any time 24/7 from ATMs;
credit and debit cards allow customers to receive discounts at points of sale;
a customer can easily transfer funds from one account to another account electronically.
There is no need to install additional software on your computer

Features of electronic banking

Nowadays, one of the most recognized features is accessibility. Internet banking offers clients. After accessibility comes portability. Clients can be on any computer and anywhere to access their financial accounts and carry out the necessary transactions related to their personal or business accounts. To make online banking easier, most banks provide a variety of high-quality, technology-based solutions that make customer service easy and fast. Most online banking systems offer the same general features, with a few exceptions, and most of these services are provided free of charge to customers.

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General functions and services of Internet banking

Internet banking is an analogue of the “Client-Bank” class system and includes the following general functions and services:

clients can view accounts and transaction histories;.
clients can view or print account statements and balances;
setting up online payments and direct deposit services;
some services allow clients to export their account histories to third-party accounting software;
clients can transfer funds from one account to another or open deposits.

Internet banking. Disadvantages of electronic banking

may take some time. To register for the bank's program, the customer must provide an ID and sign a specific banking form at the bank branch. Some banks even ask for a photo of the client.
If clients and their immediate family wish to view and manage assets together remotely, the primary person may have to sign a power of attorney before the bank grants access to others' online banking.
Even large banks periodically update their online programs, adding new features. In some cases, customers may need to re-enter account information or log into the program at a different time.
Internet banking service is a security issue that allows account holders to ensure that their accounts are protected from fraud or intruders. They can change their personal passwords as many times as they want. This service requires the customer to answer some questions, enter their old password and a new one to confirm their identity, and then allows them to change their personal password.

Despite the fact that online banking sites are highly encrypted, however, with developing technology, it is difficult to exclude “hackers” who can gain access to bank accounts.

Customers cannot spend their money from an online bank account at will, and in some cases there is a need to go to an ATM to withdraw cash.
As with all technologies, online banking sometimes experiences technical glitches.

Conclusion

Electronic internet banking is an example of electronic surge in all areas. In an increasingly competitive environment related to the delivery of banking products to the client, Internet banking effectively provides a competitive advantage to other banking institutions in this market. Banks make it easier for customers to work with minimal effort and time, providing everything done from anywhere in the world, accessible via the Internet 24/7. Electronic Banking – Internet banking is becoming a more important part of customers in all banking transactions.

An electronic bank is a high-tech multifunctional shell that allows you to remotely and securely manage bank accounts, electronic wallets, and carry out transactions with funds without resorting to the services of a bank employee.

The service package of an electronic bank is approximately the same as in a traditional bank, with minor restrictions. Electronic banks are gaining popularity due to convenient and prompt management of their money, fast payments, placement, round-the-clock access to accounts, the availability of ATMs and plastic ones.

Electronic document bank

An electronic document bank is the procedure for maintaining and storing documentation digitized into electronic format. The subject of the archives can be very diverse, from the catalog of antiques of the Armory Chamber to court decisions of the Supreme Court of Russia. In most cases, electronic storage contains technical, accounting, personnel, financial, legal and other documentation.

The electronic document bank is securely protected and easy to use. Authorized persons have access to the storage through cryptographic protection or through an electronic digital signature.

Electronic bank account

Modern electronic payment systems are a fast, reliable and secure form of self-banking. Opening an electronic bank account on the Internet is very simple, convenient and effective.

There are independent financial electronic banking systems or affiliated organizations that provide a full package of services. This concept includes opening an e-account or e-wallet, storing funds, making transactions, paying for goods and services. But also, there are electronic applications of partner banks that allow you to independently manage your money remotely.

Electronic payments in the bank

Currently, not a single bank can do without electronic data exchange, which includes invoices, payment receipts, and other financial documents, as well as payments themselves.

Electronic payments in a bank are a specialized set of software products that provide operational transactions between counterparties, or money transfers from consumers to the accounts of service providers and goods. To carry out these operations, an Internet connection, a program and an electronic account or wallet are required. Such interaction is safe, fast and convenient.

Electronic bank client

Software that allows you to manage your bank accounts remotely and independently is called “Bank-Client”. This operational shell is available in almost all more or less serious financial institutions and is recognized as a convenient, fast and secure channel for the exchange of financial and information documents between the bank and its client.

The electronic “bank-client” is installed on the client’s computer by a bank employee and provides appropriate means of safe use and protection from unauthorized entry into the system.

Electronic banking services

IT technologies have found maximum efficiency in the financial sector. We are talking about servicing bank clients in electronic format. Electronic banking services are divided into three levels:

automatic clearing houses
"retail" electronic services
wholesale electronic services

In short, this means issuing plastic cards, providing ATMs, terminals and electronic devices for payments in retail outlets and cafes. Also, electronic services include the provision of remote banking self-service and services with electronic money and wallets.

Electronic money in the bank

There is no single and universal definition of electronic money in the financial sector. Some payment systems call them title units, others call them e-money. But it is clear that electronic money in a bank is backed by prepaid real funds and is equivalent to them in material terms.

The circulation of electronic money is provided for in payment systems on the Internet. Otherwise, operations are similar to those with real money. They are used to pay for goods and services, transfer them to the accounts of counterparties, store them, invest them, and also withdraw them from the system into real cash.

Electronic bank payments

Electronic settlements of banks are financial relationships in the interbank environment at the bank-to-bank level. The principle of such cooperation is electronic document management, information transfer and non-cash payments through electronic data interchange channels.

The advantage of the electronic format of mutual settlements is the safety, efficiency, and cost-effectiveness of the entire process. Operations are carried out online: a file with information is transferred from the initial site of the calculation to another. Protection is provided by an in-system complex of authorized access.

Electronic bank for private clients

Electronic banking for private clients is a range of services provided in electronic format. The client has the opportunity at any time to inquire about the status of his accounts, view the history of transactions and operations with funds. Information is also available on plastic and new products developed by the bank for clients.

The electronic bank provides private clients with the opportunity to independently make money transfers, pay directly to suppliers of goods and services, invest in attractive programs, and apply for...

Banks play a huge role in the modern economy, and a reliable banking system is the basis for the financial stability of any state. The set of standard functions of any banking institution includes: firstly, intermediation in making payments, and secondly, financial intermediation: operations with loans and deposits, purchase and sale of securities and currency, thirdly, performing the functions of an underwriter during the initial placement shares of issuers on the market.

With the development of Internet technologies, banks were able to transfer part of their services to the Internet, thereby expanding their client base and significantly reducing the cost of customer service.

Any payment taking place on the Internet is in one way or another connected with banking structures. Initially in Russia, to provide financial Internet services, banks created special systems (CyberPlat), which served clients’ means of payment (plastic cards), but recently banks have provided clients with the opportunity to directly access their accounts.

The list of services provided by banks on the Internet is not limited to the organization of an Internet payment system and direct access to customer accounts - banks provide brokerage services on the stock exchange, and even lending services to customers who are not able to personally draw up the necessary documents at a bank branch.

Internet banking

Internet banking (e-banking) is a set of services within which a bank client has the opportunity to perform all standard banking operations (excluding cash transactions) from his personal computer connected to the Internet. The range of Internet banking services includes:

payment of utilities (electricity, gas, telephone, heat supply);
payment of communications bills (IP-telephony, cellular and paging communications, Internet) and any other services;
transferring money from your account (including foreign currency) to any account in any bank;
transfer of funds to pay bills for goods, including those purchased in online stores;
sale and purchase of foreign currency;
replenishment/withdrawal of funds from debit and credit plastic cards;
opening various types of accounts (terms, savings, pensions) and transferring funds to them;
receiving an account statement for a certain period in various formats;
receiving reports on past payments in real time;
obtaining information about payments made and the possibility of refusing to pay a particular invoice;
additional services, in particular subscription to newspapers or magazines, brokerage services on currency and stock exchanges (purchase/sale of securities, formation of an investment portfolio, the opportunity to participate in bank mutual funds).

From PC banking to the Internet

Bank clients could use all of these opportunities even before the advent of the Internet - using a service called PC-banking. Its essence was that any client, using a computer and a modem, could connect to the bank’s computer system and make the necessary changes in terminal mode. PC banking software had a client-server architecture and required mandatory installation on the client side.

When switching from a PC-banking system to an Internet system, developers had to take into account some features, namely:

use of new communication protocols;
the possibility of transactions in the e-commerce system, that is, the ability to pay for goods or services purchased in online stores;
the need to increase the level of data transmission security. Since Internet browsers do not provide a level of security sufficient for the transmission of data affecting financial issues, banks are developing and offering their clients additional software modules for security and encryption, which are based on the use of an electronic digital signature (EDS).

Security of Internet systems "client-bank"

A little boy bought a computer
I connected it to Internet banking.
The bankers suffered for a long time afterwards:
“Where did our million go?”

Modern folklore

Due to the fact that all information in Internet banking systems is transmitted over an open Global Network, developers pay great attention to ensuring a high level of security for their developments. As a rule, information protection is provided at two levels (Table 1):

To avoid interception of client identification data - login and password for logging into the system - the transmitted data is protected using encryption, and the SSL (Secure Sockets Layer) protocol is used for its transmission.
Each client’s order to the bank is certified by his personal electronic digital signature.

The emergence of Internet banking

In the West, banking services that freed clients from the need to be personally present at the bank appeared in the early 80s: clients were able to give orders for transactions over a touch-tone telephone. Later, a service for remote management of a bank account using a PC connected to the bank’s back office via a direct modem connection appeared.

The emergence of Internet banking dates back to 1995, when the first such systems were developed and the first Internet bank (Security First Network Bank) was opened, all of whose operating activities took place in the virtual space, and access was provided exclusively through the Web site.

Over the past few years, the development of this industry has been very dynamic, and at the moment e-banking is one of the most technologically and financially developed segments of Western e-commerce. Today, about 80 of the 100 largest Western banks provide e-banking services, and the total number of banks providing their clients with the opportunity to access their accounts via the Internet has already reached one and a half thousand.

Russian Internet banking systems

Autobank

The emergence of Russian Internet banking in 1998 is associated with this bank.

System: “Home Bank”. With this system you can:

buy and sell currency;
pay utility bills (except for Mosenergo, MMT bills);
transfer money to your accounts both in rubles and in foreign currency;
make intrabank payments in rubles;
make interbank payments in rubles;
pay bills from providers, cellular and paging operators;
place funds in deposits in rubles;
place funds in deposits in US dollars;
replenish plastic card accounts;
receive statements of all your accounts for any period of time;
track and manage funds received into accounts.

Requirements: access to the Internet; browser: MS Internet Explorer 5 (or later).

Client software: MSIE5 component that is installed automatically the first time a user accesses the system server.

Registration: to start working in the Home Bank system, you need to open an account with Autobank (this can be done at any bank branch), pay for an adapter and a memory element costing 570 rubles.

All operations in the system are carried out free of charge, with the exception of interbank payments, the cost of which is 0.1% of the amount, as well as crediting non-cash ruble funds to the account - 0.5% of the amount. Currency purchase/sale transactions are carried out at the Avtobank currency exchange rate with a 0.3% discount. The cost of annual maintenance is 400 rubles.

Identification: using a key Touch memory element, which is read using an adapter connected to the user’s computer via a COM or LPT port. The element contains information about the client (full name, password to log into the system) and information necessary to work with the digital signature (cryptographic keys).

Guta-Bank

This bank has become the second player in the new market of Internet banking services.

System: “Telebank”. Using the system you can:

make all utility payments;
pay bills for long-distance telephone communications (MMT): MTS, Bee Line, MSS, SONET, Mobile Telecom, MTU Intel, PTT Teleport, Data Force IP, Elvis-Telecom, etc. .;
make payments for satellite television services (NTV+, Cosmos TV), security, parking, intercom, training, etc.;
transfer funds to pay bills for goods, including those purchased through online stores;
make money transfers, including in foreign currency;
buy and sell foreign currency;
place funds in time deposits from an account in the Telebank system;
replenish your plastic cards from your account in the Telebank system;
transfer funds from plastic cards to an account in the Telebank system;
subscribe to newspapers and magazines;
receive account statements and plastic cards by fax and via the Internet.

Registration: in order to register in the Telebank system, the client must have an account with Guta-Bank, undergo pre-registration to receive the UNK - filling out the registration form and completing the necessary documents (documents are presented on the website), which the client sends to the bank by registered mail, install the necessary software for generating digital signatures.

After this, the client needs to download the program from the bank’s website, indicate his UNK, after which the program will generate a secret key and a request file for generating a certificate and transfer the request file to the system’s processing center. The bank, in turn, will send the client a certificate, which will be used to identify the user in the future.

Identification: to log into the system on the bank’s website, the client enters his password and a unique client number (UCN) received during registration. The implementation of any operation begins with the execution of the corresponding document by filling out Web forms, and ends with the signature of this document with an electronic digital signature.

To work with digital signatures, the Inter-Pro program from Signal-Com is used. This program is based on the use of the SSL protocol, which is supplemented by domestic cryptographic algorithms. The Inter-Pro program provides strict authentication (confirmation of authenticity) of the bank's client and server, strong encryption and control of the integrity of transmitted information. In addition, the Inter-Pro program provides the client with the opportunity to certify financial documents presented in HTML form with his own electronic digital signature.

Registration in the system is free, the monthly subscription fee is $1. Payment of all bills is also free. Transactions with currency and money transfers to other banks - in accordance with the tariff plan.

System: Internetbank. Using the system you can:

make payments for utilities, communications, training, etc., using standard templates;
transfer funds to a plastic card account;
generate payment orders;
receive account statements for a certain period (in HTML, Excel, Excel zipped format);
receive complete information in real time about received payments and the status of sent payments;
refuse an outstanding payment;
print a payment order;
maintain your database of payment recipients.

In addition, the system provides the following capabilities:

automatic maintenance of a personal list of payment recipients;
automatic verification of the correctness of filling in payment order details and searching for exact bank details in the directory of the Central Bank of the Russian Federation;
automatic insertion of the payment term.

The Internetbank system uses standard client-server application technology. All information is stored on the bank’s server; the client part only provides access to it.

Requirements: the Windows 95/98/NT platform and standard Web page viewers Internet Explorer 4.01 and higher, or Netscape Communicator v. can be used as the client part. 4.05 and above. To receive statements and other information in HTML and Excel standards, the client fills out standard Web forms. All documents transmitted within the system are signed with an electronic digital signature, for which the Inter-Pro software module of the Signal-Com company is used. This program will also improve the SSL protocol, which is used to encrypt information in the system.

Registration: to work in the Internetbank system, the client must have an account with Severnaya Kazna Bank, which can be opened at any bank office and conclude an agreement for account servicing through the Internetbank software package.

Identification: after registering to work in the system, the client is given a key floppy disk and a password.

Connecting to the system is free. The cost of maintaining a legal entity account and servicing in the system is 300 rubles. per month. For individuals, maintaining an Internet account costs 50 rubles. per month.

System: “Telebank-NN”. Using the system you can:

make any types of payments, including payments for various services (utilities, communications, etc.) according to standard templates;
receive account statements at any time and for any period;
submit an application for a currency transfer, for the purchase/sale of currency, currency conversion, instructions for the mandatory sale of currency;
send documents of any format signed with an electronic digital signature;
save the statement as a file for subsequent loading into an accounting program.

Requirements: to work in the system, the client uses an ordinary browser, all operations are carried out by filling out Web forms. A Java applet is used to generate a payment order. Having completed the payment order completely, the client can save it as a template for future use. In addition, the client can prepare several payment orders at once, sign them separately and send them for execution. To create an electronic digital signature, the Inter-Pro program is used, which will also improve the SSL information security protocol.

Registration: you can register in the Telebank-NN system without visiting a bank office. To do this, the client will need to sign the necessary documents, which will be sent to him by mail, and then have them certified by a notary and sent back.

Identification: after registering an account in the Telebank-NN system, the client is given a personal password to log into the system and electronic digital signature means - a key floppy disk with a certificate.

When an individual registers in the system, he is issued a Union Card system free of charge. Registration and maintenance of work in the system is free for legal entities and individuals. The commission when making a payment in the system is 0.3% of the amount. Issuance/replacement of an electronic certificate according to the tariffs of Signal-com JSC - $25.

JSCB "Yugra"

System: “Home Bank” - a system for remote management of a bank account for private (individual) individuals via the Internet. The system allows you to use the following services:

Payment of utility services;
implementation of intra- and interbank transfers;
payment of bills from providers, cellular and paging operators;
buying and selling currency;
replenishment of card accounts;
placement of funds on time deposits in rubles and US dollars;
receiving account statements, access to the payment archive.

All these operations are carried out by filling out standard Web forms.

System: iBank (BIFIT). The system allows you to perform the following operations:

for individuals:
- generate, sign and send documents to the bank: payment order, information message, application for currency transfer;
- make utility and periodic payments;
- manage your accounts by transferring money from one account to another. Currency conversion is carried out automatically;
- track current balances on your accounts and receive statements for any period;
for legal entities:
- generate, sign and send the following documents to the bank: payment order, information message, application for currency transfer, order for mandatory sale, order for purchase/sale of currency; application for currency conversion;
- promptly track the status of documents sent to the bank;
- receive ruble and foreign currency statements for all your accounts for any period.

The iBank system also supports a number of directories, allowing the client to quickly and easily generate new documents. It is possible to exchange client financial documents with automated accounting systems.

To work with the system, the client establishes a connection to the auxiliary Web server of the iBank system and downloads the “Client” Java applet through a secure SSL connection. During the initialization process, the client inserts a floppy disk with a secret EDS key and enters a password. Mutual authentication of the client and the bank is carried out. Next, the client’s direct work in the Java applet begins - entering payment orders (or importing them from the client’s “accounting”), electronically signing payment orders for execution, viewing statements, printing the necessary documents.

Registration: the client can register in the system by visiting a bank branch to sign a certificate of his public EDS key and a service agreement in the iBank system.

Unlike the “Home Bank” system, the iBank system is paid. Connection costs $40; generating a new key at the client's request - $10. The subscription fee for using the iBank system is $15 without Internet access and $20 if Internet access is provided.

Joint Stock Bank "Russia"

System: “Bank-Client”. Using the system it is possible:

prepare and send payment orders in rubles for execution;
apply for cash reservation;
request information about the account balance, receive account statements for the date and period;
send/receive text messages from the bank.

All information within the system is transmitted via SSL 3.0 protocol. In addition, documents submitted for execution are signed with an electronic digital signature using Lan Crypto software.

Registration: the system can be used by legal entities and individuals, residents and non-residents, who have a current account with OJSC Joint Stock Bank Rossiya. To connect to the Internet version of the Bank-Client system, you must enter into an appropriate agreement with the bank.

Identification: After registration, the client receives a user ID, password and a floppy disk with a blank for the secret key. Then you should download the necessary software from the bank’s website and log in by entering your username and password. When the system is launched for the first time, an additional software module (ActiveX) will be installed on the client’s computer, allowing the user to generate his own public key, which should be transferred on a floppy disk and printed to the bank.

The cost of connecting to the system is 1800 rubles. For customers using the “traditional” version, connection to the Internet version is free. There is no recurring subscription fee. The cost of processing a payment order in rubles is 50% of the established fee for a similar paper document.

Sudostroitelny Bank

System: Sbank. The system allows you to perform the following operations:

at any time and for any period, receive an extract from the client’s personal account, provided in the form of an electronic document. Each line of the statement corresponds to an electronic document signed with the bank’s digital signature;
submit an internal or external payment order in Russian rubles;
make payments in foreign currency: submit applications for transfers in foreign currency, including information necessary to implement currency control;
send a message to the bank in a free format. Used for delivery to the bank of other documents that require certification of the sender’s digital signature;
submit an application for the purchase of foreign currency from the bank’s own funds or on a foreign exchange exchange, which contains, among other things, the information necessary for the implementation of currency control;
submit an application for the sale of foreign currency, including the mandatory sale of foreign currency proceeds, which contains, among other things, the information necessary for the implementation of currency control;
submit a request to revoke a previously sent electronic document. If possible, the document is recalled by the bank automatically, immediately after receipt.

Registration: to register in the system, a client who already has an account with Sudostroitelny Bank needs to sign an agreement for service in the Sbank.Ru system and an agreement for the use of an electronic digital signature.

Identification: Login for registered clients is carried out directly from the bank's website. After registration, the client is assigned a username and password to log into the system. The electronic signature module is implemented as ActiveX, which is automatically loaded upon first login; Versions are updated automatically.

To complete all documents, the client fills out standard Web forms, which, when transferred to the system, are signed with an electronic signature (key length 2048 bits). To ensure greater reliability, the system runs on two identical servers connected through different providers. For the purpose of additional control over operations in the system, logging of each user's requests and user access to any information is carried out. All data transmitted within the Sbank.Ru system is encrypted using an algorithm similar to RSA, with a key 1024 bits long.

Work with signatures is done in the browser environment. Joining the system is free, and there is no subscription fee. Service is provided at the current rates of Sudostroitelny Bank.

Bank "NOMOS"

System: “Internet Client”. The functionality of the system allows you to:

carry out various types of customer payment documents for both legal entities and individuals;
exchange messages with the bank in any format;
receive statements in various types and formats for legal entities and individuals, as well as other information from the bank;
get the opportunity to organize Internet commerce both for the bank itself and for any of its clients;
carry out currency transactions;
build settlement and clearing systems in real time.

The Internet Client subsystem is based on widely used technologies - the CGI interface and the technology of Java application templates. A distinctive feature of the system is that only standard cryptography tools are used (Excellence, Lan Crypto, Verba-OW, etc.) and SSL and other protocols that are not legally significant in Russia are not used.

Registration: To register in the system, the client must sign the appropriate service agreement, after which he receives all the necessary software.

The cost of registration in the system is $100, the monthly subscription fee is $15.

Identification: BS-Defender software is used to authenticate the user in the system and apply an electronic digital signature. The client receives the system distribution kit, which fits on a floppy disk, either during a visit to the bank or directly from the bank’s website.

Mezhtopenergobank

System: “Bank++”. The system provides the following capabilities:

full management of the current account: transfer of internal and external payments, conversion of funds, transfer of funds to deposit, repayment of loans and payments according to interests, etc.;
management of loan accounts: partial and full repayment of the loan, payment of interest on the loan;
entering account statements for any time interval, credit and debit memos, payment orders onto the screen or printer;
receiving documents in MS Word and MS Excel format;
maintaining correspondence between the client and bank staff using a mechanism to protect the transmitted information;
Notifying the client about the receipt of payment to his current account.

The system supports Russian and English languages. The Bank++ system implements a flexible scheme for calculating commissions charged for conducting a banking transaction and fees for servicing accounts. They are accrued differentially for each client or group of clients, depending on the terms of the account opening agreement. The system includes a special library of algorithms for calculating commissions and account service fees.

To ensure the security of the system, access to it is realized through smart cards, which provide encoding of the data flow between the Client and Server programs. When an access card is issued, the owner's name, PIN code, validity period, and user code are entered into it. In this case, all information transmitted over the network is encrypted using the DES symmetric encryption algorithm using a 128-bit key. Encryption keys and passwords are stored only on the smart card and server.

The Bank++ system implements a technology for working with double (conveyor) signatures. If a confirming signature is specified for a terminal user, then all transactions entered by this user will wait for confirmation, that is, receipt of a second signature, and only after that they will be processed by the bank. In this case, the user initiating the transaction and the user authorizing it can be geographically separated.

Uniastrum Bank

System: “Internet Bank-Client”. At the moment the system allows:

fill out payment orders;
sign a payment order with an electronic digital signature;
receive information on documents sent to the bank;
receive bank statements on accounts for a certain period of time in the form of text and tables;
track the current status of accounts.

In the future, the system will implement the ability to submit applications for transfer and purchase/sale of currency, mandatory sale of currency, and collection.

Registration: to start working in the Internet Bank-Client system, the user needs to become a client of Uniastrum Bank, enter into a service agreement in the system, receive a name and password from the bank to log into the system, as well as a key floppy disk for carrying out transactions with a digital signature .

The fee for connecting to the Internet Bank-Client system is $20, the monthly subscription fee is $10, and training the client to work in the system is $25.

In conclusion, it should be noted that the market for financial Internet services in Russia continues to develop dynamically, and, according to analysts’ forecasts, in the near future we can expect a significant, at least twofold, increase in the volume of supply in this segment of the Internet market.

ComputerPress 5"2002