What Is Online Banking?

Online banking refers to internet-based banking services that allow customers to access their bank accounts and conduct financial transactions remotely. It is typically an extension of traditional banking, providing a convenient way to perform various activities without visiting a physical branch.

Key Features of Online Banking

• Fund Transfers & Remittances: A Customers can send remittances locally and internationally using online banking platforms.
• Bill Payments: A Utilities, mobile recharges, and other payments can be processed through the bank's online portal.
• Account Management: A Users can check account balances, download statements, and monitor transactions.
• Security & Personal Identification Number (PIN): A Secure logins using a personal identification number (PIN), multi-factor authentication, and encryption ensure data safety.
• Customer Support: A Online chat, email, or phone support are available for assistance with transactions.

What Is Digital Banking?

Digital banking is a broader concept that encompasses online banking but also includes mobile banking apps, AI-driven services, and fully digital financial institutions. Unlike online banking, which extends traditional services to the internet, digital banking operates in a fully automated, paperless environment.

Key Features of Digital Banking

• End-to-End Digital Experience: A Customers can open and manage bank accounts without visiting a branch.
• AI-Powered Services: A Automated chatbots and financial advisors provide seamless customer support.
• Personalized Banking Experience: A Digital banking platforms use data analytics to offer customized financial products.
• Instant Transactions & Remittances: A Real-time money transfers and remittances are faster and more efficient.
• Enhanced Security Measures: A Includes biometric authentication, face recognition, and digital IDs beyond traditional PIN security.

Online Banking vs Digital Banking: Key Differences

Feature	Online Banking	Digital Banking
Definition	Extension of traditional banking via the internet	A fully digital banking ecosystem
Accessibility	Available via web browsers on computers & mobile devices	Available through mobile apps and digital-only banks
Services Offered	Basic banking functions (transfers, bill payments, statements)	Advanced AI-driven financial services, automated savings, robo-advisors
Security	Protected with username, personal identification number (PIN), and OTP	Enhanced security with biometrics, AI-based fraud detection
Remittances	Supports domestic and international remittances	Instant, cross-border transactions with blockchain & digital wallets
Account Management	Requires a physical bank branch for certain services	Fully digital, allowing complete remote management

Which One Should You Choose?

If you are looking for basic banking services online, such as transferring money, paying bills, or checking your account, then online banking is sufficient. However, if you prefer a completely digital financial experience with AI-driven insights, instant transactions, and no branch visits, digital banking is the future.

Raqami: The Future of Digital Banking

For those seeking a seamless, Shariah-compliant digital banking experience, Raqami provides innovative financial solutions. With secure online banking, AI-powered financial insights, and a hassle-free digital experience, Raqami is transforming the way people bank in the digital era.