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Volume: 1 Issue: 3
(March 1999)
Keywords:
legal
challenges
internet
banking
potential
benefits
banks
conducting
business
on-line
manifest
decreased
transaction
costs
access
new
customers
providing
The legal challenges of internet banking
The potential benefits for banks of conducting their business on-line are manifest, with decreased transaction costs and access to new customers providing seemingly irresistible advantages to conducting business on-line. However, the uptake of internet banking within the UK has been slow with only a handful of players providing a true ‘internet banking’ service. The purpose of this article is to set out some of the regulatory challenges to internet banking within the UK and to provide a brief explanation of the technology involved.
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