In conclusion, it is worthwhile summarising the use of next generation management tools used by financial organisations in the form of online banking. Banks initially used the internet in order to: place basic information on their websites about their activities; to educate consumers about their financial situation and product offerings; and to enable customers to check their account balances, view a historical record of their transactions, to open or close fixed-term deposits; and to permit customers to make transfers between accounts. The development of advanced internet banking offerings by banks has seen the harnessing of the potential of the internet. For example, advanced internet banking offerings often exploit the interactivity and flexibility of the internet, and incorporate multimedia features. This has resulted in further developments in:
- information services (e.g. the inclusion of exchange rates, stock exchange data, tax advice and other financial information in service offerings);
- sales of products of other organisations (e.g. the sale of complementary financial products such as insurance, units in investment funds, brokerage services, as well as non-financial services, such as airline tickets);
- internet shopping;
- improved personalisation in the provision of services (e.g. matching the appearance and contents of a web site to a user’s preferences); and
- on-line consulting.
This paper has outlined some of the major changes that have occurred in the functioning of banks as a result of the incorporation of modern technology in their service offerings. This has had major implications in the provision of banking services, including in the Polish market, and has resulted in the modernisation of management in banks. Developments in internet and mobile technology, and global information systems, have seen a substantial shift from traditional banking to a banking environment that is now increasingly independent of time zones and a customer’s residence. These technologies have revolutionised modern banking and underline the importance today of internet banking in the modern, competitive, market for financial services.