Consumer oriented application
There are four categories of consumer oriented applications
- Personal finance management
- Home shopping
- Home entertainment
- Micro-transaction of information
Personal finance management
It includes paying bills, whether by computer or telephone etc.
To manage the increasing complexity of household finances home banking services are used.
Home banking services are categorized as basic, intermediate and advanced.
- Basic services: Basic services of home banking in ATM, banks introduced. ATM’s in 1970’s to automate two functions deposit and cash withdraw.
- Intermediate services: The problem associated with home banking is expensive services, it requires PC, a modem and special software, these problems are solved by intermediate service using QDPMM (Quick and dirty personal money management) which allows you to pay the bills by moving money between investment accounts.
- Advance services: Range of services that will be offered by banks in future, these services range from online services to real time financial information from anywhere in the world.