E-commerce | Online Banking

The task we have being assigned is to research the purposes of online banking. 

Online banking just gives another way of banking for another person. There are benefits and drawbacks of online banking and you could argue that it is only limited to certain groups of people. However all in all the purpose of online banking is to make it quick and efficient. This will benefit people who dont have much time to hand to travel to a bank. 

However a certain group that may benefit and struggle from online banking is elderly. Some elderly may not be in a position to travel to the bank, this is where online banking can be a benefit to them as they can do it from the comforts of their own home. However, stereotypically the elderly are not comfortable/up to date with current technology so they will have no idea how to use online banking, they may not even have a computer/internet. Although they can learn to use online banking or buy a computer it may just be more beneficial for many of them to go to a local bank. 
However a certain group that online banking is going to benefit is business men/women. This is because they work long hours and banks may be closed when they go home so because online banking is 24/7 they can do it quicker and at the comforts of their home/work at their own time. 

Generally, i imagine the audience to be aimed at 16 - 40 year olds, generally people who have an idea of how to use a computer and the internet, also people who are comfortable buying things online and think that it is secure. Generally this age group would of bought products online previously so they will more than likely trust and use online banking. 

Online banking does fulfil its purpose to some extent. Anyone with a bank account can use it and it generally is more beneficial as its quicker and can be used anywhere to a degree and can be used at anytime. However not everyone will be able to use it as not everyone is up to date with technology or they may not think online banking is secure.

The main advantage of online banking would be that its very convenient to a vast majority of the population. It can be used anywhere and anytime and saves time from travelling to a local or not local bank. However although many banks deem online banking to be very secure there still is a slight possibility that you may get hacked and this creates a massive problem.