Online Bank Loan Information:

The entire world of consumer banking is changing radically. In the current hyper-competitive consumer banking environment, consumers are able to apply for and receive an online bank loan.

Online banking (or Internet banking) allows customers to conduct financial transactions on a secure website operated by their retail or virtual bank, credit union or building society.

Online bank loan solutions have many features and capabilities in common, but traditionally also have some that are application specific.

The common features fall broadly into several categories

Transactional (e.g., performing a financial transaction such as an account to account transfer, paying a bill, wire transfer... and applications... apply for a loan, new account, etc.)

o Electronic bill presentment and payment - EBPP

o Funds transfer between a customer's own checking and savings accounts, or to another customer's account

o Investment purchase or sale

o Loan applications and transactions, such as repayments of enrollments

Non-transactional (e.g., online statements, check links, cobrowsing, chat)

o Bank statements

Financial Institution Administration -

* Support of multiple users having varying levels of authority

* Transaction approval process

* Wire transfer

Features commonly unique to Internet online bank loans include:

* Personal financial management support, such as importing data into personal accounting software. Some online banking platforms support account aggregation to allow the customers to monitor all of their accounts in one place whether they are with their main bank or with other institutions.