Page 20 - ONLINE SERVICE

AUCTION

Online auctions are literally auctions hosted on
the internet, the most popular auction site
being that of the multinational online retail
giant, eBay. This service works in a very similar
way to that of normal auctions that are
conducted without internet at auction houses,
but being powered by the internet, it can be adapted into something much greater. Users are given the
ability to browse products from all over the world, and place bids on these products, and if they win,
have these items shipped straight to their addresses. It is also possible for users to list their own
products on most auction sites, and make them visible worldwide for people to see, allowing users to
make their products available on a world wide scale.
BANKING

Banks and other financial institutions help
companies engage in world trade, mitigating
risks so that goods and services can flow across
the globe in a smooth and secure manner. Trade
finance is especially crucial for small- and
medium-sized enterprises (SMEs), which may
lack the resources to advance the necessary
funds to import or export valuable goods on
their own. All highstreets banks offer online
banking and some banks are exclusively online
with no highstreets branches. Typical example of
banking is Batch Processing, where large amount of data is process in line as batch.
Services

• A customer with access to online banking can check their bank balance.

• View/print current and previous bank statements or bank cheques.
• Pay bills online, i.e. setup direct debits and standing orders.

• Setup new, separate accounts for specific purposes, example: savings.

• Transfer money between their accounts and to other people's account. Customer benefits.
• Convenience - banking when it suits them, 24 hours a day, 365 days a year from any computer
with an Internet connection.

• Higher interest rates - savings banks make through reduced staffing, fewer premises and
increased automation mean they can offer higher interest rates.

• Increased market awareness - visit all the banks and find out what interest rates they offer
online.

20