Scope of virtual banking in Pakistan

Abstract

A virtual banks goal is to provide an Internet banking solution through secure online banking capabilities for commercial and personal customers. They want to offer Internet access to financial services, including access to real-time account information , credit card payment, balance transfers and purchasing options. This study investigates the scope o f virtual banking i n Pakistan . The methodology adopted in t his research work was the survey method of research . Pakistan i s currently running most ly on a paper based syst empreliminary checks , but inrecenl ears electronic payments wil l rapidly increase due to information technology i n order to archive ' s bank 's goal and objectives efficiently and effectively . The research shows that mostly banks a re intend to move towards virtual banking. Banks are eager to use information technology in order to save time and cost. But it requires time and resources t o introduce virtual banking properly. The effect of virtual banking will prove to be positive from both , customers and banks point of view. Through virtual banking customer has goul benefit as he can access all the banking services sitting at his home/office and can save his cime andcosts .