The last decade witnessed a sea change in the way banking services are made available to customers. The implementation of Core Banking Systems has proven to be a big boon in providing anywhere access to banking services and the treatment of a customer as that of a bank and not as a constituent of a specific branch.
With the interlinking of ATMs, the customer has been further transformed into constituent of the financial sector rather than a bank. Alongside, the banking sector has made significant efforts to identify security gaps in an IT enabled scenario and have addressed them effectively as well. The time is now appropriate to review the adequacy of the measures taken by banks.