Online banking bridges the distance between geographically remote locations, creating new business opportunities. It is an imperative in the era of financial globalisation. Risks Online banking presents a wide range of potential risks and has led to heightened concerns about the vulnerability of bank and electronic payment systems.
The degree of confidence required for a self-sustaining recovery could be given a further boost by credibly promoting structural reforms in the west European countries. On the eve of EU eastern enlargement, the west European countries are experiencing their own type of change. I welcome this development. It will bring about a shift in decision-making from the state to the individual.