Online banking frauds have forced banks to take extra measures to tackle the same. The response has been such that online banking customers are left wondering if the banks have approached the issue in a rather crude manner.
'Secure keys' handed out by HSBC to its online banking customers generate a new key each time you use it, and now with more people going the online banking way for money transfer and the like, the responses too are many. Online banking customers feel that the method makes online banking rather cumbersome and time-consuming.
Many irritated online banking customers are venting out on twitter etc, but they should also look at the fact that online banking frauds still cost around $50 million annually.

Wells Fargo & Company has been awarded for their online banking services for the second consecutive year. They have been awarded the "Best Consumer Internet Bank" and "Best Corporate/Institutional Internet Bank" for online banking in the United States.
These awards for online banking by Global Finance magazine are a part of the 12th annual "World's Best Internet Banks" competition in the US. The magazine also gave its awards to Wells Fargo & Company for the best among consumer internet banks for online deposit, Credit and Investment Product Offerings, Bill Payment & Presentment, Information Security Initiatives and Social Media. The online banking firm also bagged the honors for "Best in Trade Finance Services" and Mobile Banking.
According to Jim Smith, Executive Vice President and head of Wells Fargo's Internet Services Group, they have endeavored to provide an unrivalled online banking experience for its clients since 1995. They have 19.3 million active online clients and 5.9 million active mobile clients who are an important part of the bank's success as their feedback is taken into consideration while designing the services.

Hong Leong Bank recently launched its new banking service called Hong Leong Connect with a target to attract more customers and expand its online banking base. The Bank is looking forward to add as many as 130,000 to 480,000 customers by the end of the financial year i.e. June 2012.
The online banking head of Hong Leong Bank, Ken Yong, revealed that the bank has 350,000 online banking customers, however only 40 percent of the customers logged in to Hong Leong personal monthly while around 20 percent were occasionally logged in.
Considering the fast moving online banking trend, Hong Leong Bank has upgraded its information technology platform. The bank has also launched mobile banking applications which work on various Smartphone operating systems. Hong Leong Bank is amongst the top three online banking service providers in Malaysia.