THE online interbank business has been gaining popularity over the last few years as more consumers are now turning to the Internet to make payments electronically. With higher volume of online interbank transactions, banks have been enjoying good income from this channel and are upbeat about its growth potential amid the weak economy.
RAM Rating Services Bhd head of financial institutions ratings Promod Dass says that based on Bank Negara’s Financial Stability and Payments Systems Report 2008, the total value and volume of Internet banking transactions have been tracking phenomenal growth.