The main function of banks is to keep our money safe. Other services which they offer can be regarded as secondary. Since their inception, the traditional banking system has served this purpose, but with some inconveniences, which at times makes the customers who patronize these banks murmur over the services. In order to forestall some unhealthy experiences that characterize the traditional banking system, the internet banking system was introduced.

Since the system was innovated, it has gone a long way to abate those unhealthy experiences that make banking a tedious task. Though not yet prevalent in the banking system in the world today, it has not been so long since this system of banking was introduced. In fact, it started in the 1980s and has undergone a series of blending. But, due to the rise of internet use in the 1990s, it then made this system of banking gain more popularity.

However, not everybody is used to this form of banking system, perhaps as a result of inaccessibility to the internet or as a result of lack of interest. Research has come to prove that this area of banking sector still has a long way to go. In some banks, it is known that some customers still savor the use of the traditional banking system. According to the statistics released by the FDIC, it reveals that only 40% of the banks in the U.S. offer internet banking opportunities, others merely claim to do so, but with little or nothing to show for it.

In the UK, the first trace of internet banking was established by the Nottingham Building Society, NBS for short, in 1983. The transactions were carried out by the use of the UK’s Prestel system and a computer, such as the BBC Micro, or keyboard Tandata Td 400, which is connected to the telephone and television set. This system, which is popularly known as homelink, enabled an on-line checking of statements, bank transfers and bill payments. For one to make any transaction, say bill payments, a written instruction that shows the wish of the recipient will be sent to the NBS, who in turn sets the transactions on the homelink system. Those who were known to use this early crude form of internet banking, were gas, electricity and telephone companies, and accounts with other banks.

Nonetheless, the above experience does not insinuate in any way that internet banking is not worth venturing into. This is because most customers have also turned to this form of banking as a result of their dissatisfaction with the traditional way of banking. The reason for this, most say, is that the latter way of banking offers a far better convenience than the former, and again the absence of staff-customer interaction appeals to some. Some have also given their faith in this form of banking for security reasons, because of the assurance of the banks’ capability to keep all the transactions safe.

In sum, the nascent banking system will go a long way to make banking an easy experience.