Internet Banking Comptrollers Handbook 1999

Short Description
This booklet provides guidance to bankers and examiners on identifying and controlling the risks associated with Internet banking activities. It is one of a series of specialized booklets in the Comptroller’s Handbook. “Internet banking” refers to systems that enable bank customers to access accounts and general information on bank products and services through a personal computer (PC) or other intelligent device.

Website: www.occ.treas.gov | Filesize: 221kb
No of Page(s): 95

Content
Internet banking products and services can include wholesale products for corporate customers as well as retail and fiduciary products for consumers. Ultimately, the products and services obtained through Internet banking may mirror products and services offered through other bank delivery channels. Some examples of wholesale products and services include:
- Cash management.
- Wire transfer.
- Automated clearinghouse (ACH) transactions.
- Bill presentment and payment.
Examples of retail and fiduciary products and services include:
- Balance inquiry.
- Funds transfer.
- Downloading transaction information.
- Bill presentment and payment.
- Loan applications.
- Investment activity.
- Other value-added services.
Other Internet banking services may include providing Internet access as an Internet Service Provider (ISP). The OCC has determined that a national bank subsidiary may provide home banking services through an Internet connection to the bank’s home banking system and, incidental to that service, may also provide Internet access to bank customers using that service (see OCC Interpretive Letter No. 742, the “Apollo” letter). Historically, banks have used information systems technology to process checks (item processing), drive ATM machines (transaction processing), and produce reports (management information systems). In the past, the computer systems that made the information systems operate were rarely noticed by customers. Today, Web sites, electronic mail, and electronic bill presentment and payment systems are an important way for banks to reach their customers.
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