Electronic banking in Poland and the USA - comparative analysis

Abstract

Currently we are living in the Internet era and also conditions of our lives are constantly changing. We have different expectations and requests. Presently function and situation of a client in relations with the bank is changing in a very radical way. Self-services are progressively more and more popular. New possibilities for banks’ users emerge; they may accomplish various requirements in their own capacity, without interference of banks’ workers. We are able to do that mostly because of the technology that is continuously developing. It is easy to observe that the relation client – advisor is being replaced by the client – technology relation. Hence, the attractiveness of Internet services that are offered by diverse banks causes a reduction in the demand for banks’ clerks and departments. The aim of the thesis is the comparison of two electronic banking markets. The history of ATMs and electronic payments as well as the definitions of Internet and virtual banking and the differences between them are presented along with the issue of presumable future of digital finance. Payment cards in Poland and in the United States of America are described, including the meaning of a payment card, how the credit card works and what is the classification and kinds of cards. The banking system and the internet banking in Poland and in the US are described . Two Polish banks: ING Bank Śląski and mBank and additional two American financial institutions: Horizons North and Bank of America, which provide their customers with high quality Internet services are presented.