Eureka! Institutional Repository

Since the last decades, the banking transactions meant for most of us waiting in queues, frustration and waste of time. However and beyond these, the cases of attacks on bank branches have become multiply uncontrollable. The measures being taken by the bank management unfortunately do not seem to have the results somebody seek, since in very few circumstances can prevent unpleasant situations. A new way of conducting banking transactions via the Internet is called Internet Banking and promises to change the aforementioned image. So, since today, we can say that transactions via the Internet in the space of all financial services are primarily related to stock transactions. The current data of online banking can be characterized neither enthusiastic nor disheartening. An important element that plays a big role in internet banking is that of trust showing bank customers to them. This is particularly important since this is the point where the banks should be based in order to develop their electronic trading systems via the Internet, being careful of course not betray that trust. The situation in Greece as regards the banking sector cannot be perceived as the possibly best. Frequent strikes, limited working hours - mostly non-harmonized with that of banks in other European countries - and other important issues keep the banking sector at low levels regarding development. Lately, of course, a lot of movement can be observed both in the field of mergers and privatizations and in technological development of the infrastructure of banks. Nowadays, nobody may consider that electronic financial transactions in Greece are in a satisfactory stage. Several banks offer possibility of basic banking services via Internet, such tracking for billing, filing for credit card or loan, detailed information on products and services offered and etc. but we are still far from the complete transfer of all banking transactions on an electronic level. However, despite the positive steps, it is a true fact that the operation of electronic banking in Greece is delayed significantly due to the lack of a modern and appropriate legislative framework, which is essential for proper growth and operation of online banking. More specifically, the main problem which is met since nowadays is the need for physical presence of the customer to open an account. So far, this is necessary for the certification of authenticity of the signature. The current period is particularly sensitive for the Greek banks. Employment of bank and the competitiveness in the wider banking sector will concern us more and more over the next few years. This is because the banking system is one that will lift the most weight and will be the driving force of the effort of the Greek economy to become competitive. One of the areas in which banks will have to make great efforts for improvement is that of the I.T. The usage of the internet increases rapidly in our country and it is important that internet users should not be limited only to seek information, but be free to contact people from all over the world, buy products and services, etc. So, in the banking sector, users are seeking new ways of cooperating with their bank for their daily transactions. E-banking was created to offer this very alternative communication channel to customers. The era when the customers will be able to be served for almost all the banking services, 24 hours a day, it comes closer and closer. Already most commercial banks offer the possibility of the basic banking operations and services through the Internet.