From Asia Times Online:

China is in the midst of a sustained banking revolution. Driving this revolution are changes in customer expectations,

rapid technological advances, foreign equity participation, and intense industry competition that have placed extraordinary pressure on the banking sector to modernize and reform.

Indeed, the time has arrived for China’s

much maligned brick and mortar banking system to adopt a new “business of banking” strategy. An integral part of any new banking strategy should include electronic or e-banking.

Simply defined, e-banking is “an electronic channel used to provide retail and commercial banking products and services to customers”. E-banking delivery channels can be divided into three distinct categories: informational, electronic transfer and electronic payment.