The advent of Internet and growing software technology has enabled the banking industry to set a truly virtual banking experience. Heightened consumer awareness of Internet fraud and identity theft will motivate banks to develop new offerings that combine conventional products with identity theft and fraud protection services. Newly empowered customers expect customized, easily accessible services that are easy to use and reliable. This perhaps is a bit of a science fiction story for now, but technology and its impact on banking is that it is changing the banking industry into a virtual world that can be accessed from any computer.