In recent years, the accelerated growth of information technology and development of communication network have opened a new horizon before financial markets and sectors. The emergence of modern skills and methods of processing and transfer of information as well as establishing great information bases have promoted the efficiency and productivity, the speed of making communication and reducing operational costs in financial institutions, and as a major cause of gaining superiority in the arena of competitive and financial markets has evolved the overview of financial sector. Therefore, a strategic pivot from conventional banking to electronic banking is not only a choice but also a strategic necessity, so concentration over electronic banking will lead to a distinction in the quality of banking services, in addition to reducing operational costs. In short, electronic banking is the use of advanced technologies in software and hardware based on telecommunication network to exchange financial information and data electronically that can eliminate the need for clients to be physically present at branches.