Financial liberalization and technology revolution have allowed the developments of new and more efficient delivery and processing channels as well as more innovative products and services in banking industry. Banking institutions are facing competition not only from each other but also from non-bank financial intermediaries as well as from alternative sources of financing. Another strategic challenge facing banking institutions today is the growing and changing needs and expectations of consumers in tandem with increased education levels and growing wealth. Consumers are becoming increasingly discerning and have become more involved in their financial decisions. Internet banking is changing the banking industry, having the major effets on banking relationships. Banking is now no longer confined to the branches were one has to approach the branch in person to withdraw cash or deposit a cheque or request a statement of accounts.