What does OLB mean in Banking?

This page is about the meanings of the acronym/abbreviation/shorthand OLB in the Business field in general and in the Banking terminology in particular.

Online Banking

Business » Banking

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Submitted by rinat on February 12, 2013

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Definition

What does OLB mean?

Online banking
Online banking, also known as internet banking, web banking or home banking, is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website. The online banking system will typically connect to or be part of the core banking system operated by a bank to provide customers access to banking services in addition to or in place of traditional branch banking. Online banking significantly reduces the banks' operating cost by reducing reliance on a branch network and offers greater convenience to some customers by lessening the need to visit a branch bank as well as the convenience of being able to perform banking transactions even when branches are closed. Internet banking provides personal and corporate banking services offering features such as viewing account balances, obtaining statements, checking recent transactions, transferring money between accounts, and making payments. Some banks operate as a "direct bank", where they operate entirely via the internet or internet and telephone. They are different from "neobanks", which don't have depositary insurance.

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"OLB." Abbreviations.com. STANDS4 LLC, 2024. Web. 19 Mar. 2024. <https://www.abbreviations.com/term/1431897>.

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    A Return On Improvement
    B Revenue On Investment
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