Hi
Could some one explain the difference between E banking and Electronic fund transfer in information systems Audit context
Thanks in advance
E-banking refers to the use of electronic channels such as the internet, mobile phones, and other digital devices to conduct banking transactions, such as checking account balances, transferring funds, paying bills, and applying for loans. E-banking allows customers to access their accounts and perform transactions at their convenience, without having to physically visit a bank branch.
On the other hand, EFT refers to the electronic transfer of funds from one bank account to another, either within the same bank or between different banks. EFT can be initiated through various channels, including online banking, mobile banking, ATMs, and point-of-sale (POS) terminals.
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