The tremendous development in technology and the aggressive blend of
information technology have brought about a phenomenal shift in banking
operations the world over. For the banks, technology has not only emerged
as a strategic resource for achieving higher efficiency, control of operations,
productivity and profitability, but a means for survival. From customers’
perspective, it is the realization of their anywhere, anytime, anyway banking
dream (Balwinder et al., 2004). Consequently, the banks have been
compelled to embrace technology, recognizing that this will enable them to
meet the increasing customer expectation, and also equip them to gain a firm
stand in the highly competitive banking environment.
Internet banking allows individuals to perform banking activities online via the internet. It provides automated delivery of traditional and new banking products and services directly to customers through electronic and interactive communication channels. Some banks offer both online and traditional banking, while others are online-only.
The concept of internet banking developed alongside the world wide web in the 1980s. The first online banking services launched in the United States in 1994 and India in 1997. The Reserve Bank of India categorized internet banking into three types - information only, electronic information transfer, and fully electronic transactional - based on access levels.
Internet banking provides benefits like convenience, lower costs, faster transactions, and increased competition for both customers and banks. However, security risks and the
This document summarizes an evaluation model for security components in Malaysian internet banking. It presents a literature review on security and threats in internet banking. It then describes a proposed research framework and model to evaluate the security elements, awareness, and usability of internet banking websites in Malaysia. An analysis of six major banking websites found room for improvement in authentication methods, password policies, and increasing user awareness. The evaluation model was tested through a user survey and showed both opportunities and compliance with security requirements.
The document discusses the history and development of internet banking. It began in 1981 when four major New York banks offered home banking services using videotext systems. Internet banking allows customers to conduct bank transactions online instead of visiting a physical bank. It involves using electronic means to transfer funds between accounts directly. The document then discusses definitions, types, services, steps for using internet banking, who can use it, how it works, advantages, issues, security risks, problems, and ways to ensure security while banking online.
Internet banking allows customers to conduct financial transactions online through secure websites or mobile apps. It was first introduced in the United States in 1994 and later adopted in India, with ICICI Bank being the first to offer internet banking services there in 1997. Customers can use internet banking to pay bills, shop online, book tickets, and access other banking services conveniently from anywhere at any time. While it offers benefits of convenience and lower costs, security risks require banks and customers to take precautions like using encrypted connections and not disclosing login credentials.
Banking professionals can now take advantage of our well-structured and subject-oriented Online Banking PowerPoint Presentation Slides. This electronic banking PPT theme helps you to showcase the obstacles faced by the banking sector that still operates offline. Further, present the problem statement through financial impact, projected revenue, and competition benchmark using our E-banking PowerPoint template. Get access to key stats on online banking, and customer channel preference to present a convincing web banking PPT presentation. Elucidate retail, corporate, or any other online banking type through this easy-to-understand internet banking PowerPoint theme. The digital banking PPT template deck helps you illustrate the leading players in the industry along with the services they offer. This E-banking PowerPoint presentation helps you convey the federal rules and regulations concerning online banking to your audience. Web banking PPT deck helps you in highlighting the implementation process. You can easily explain E-banking software providers, workforce training, costing, and integration with E-commerce platforms. https://bit.ly/30uZUqH
E-banking refers to electronic banking services provided through internet and mobile banking. It allows customers to perform banking transactions remotely without visiting a physical branch. Key services of e-banking discussed include internet banking, mobile banking, telephone banking, and ATMs. Benefits for both banks and customers are highlighted such as convenience, lower costs, and 24/7 accessibility. Risks associated with e-banking like security, technology and legal issues are also examined along with their management. A brief history and evolution of these different electronic banking channels in India are provided.
E-Banking refers to electronic banking services offered by financial institutions. It evolved from traditional in-person banking due to innovations in internet technology. One of the first banks to offer online internet banking services was Stanford Federal Credit Union in 1994. E-banking allows customers to conduct banking transactions remotely using channels like ATMs, smart cards, phone/mobile banking, and internet banking. While e-banking provides benefits of convenience and lower costs, it also introduces risks like security threats from password/identity theft, phishing scams, trojan viruses, and skimming.
Internet banking allows individuals to perform banking activities online via the internet. It provides automated delivery of traditional and new banking products and services directly to customers through electronic and interactive communication channels. Some banks offer both online and traditional banking, while others are online-only.
The concept of internet banking developed alongside the world wide web in the 1980s. The first online banking services launched in the United States in 1994 and India in 1997. The Reserve Bank of India categorized internet banking into three types - information only, electronic information transfer, and fully electronic transactional - based on access levels.
Internet banking provides benefits like convenience, lower costs, faster transactions, and increased competition for both customers and banks. However, security risks and the
This document summarizes an evaluation model for security components in Malaysian internet banking. It presents a literature review on security and threats in internet banking. It then describes a proposed research framework and model to evaluate the security elements, awareness, and usability of internet banking websites in Malaysia. An analysis of six major banking websites found room for improvement in authentication methods, password policies, and increasing user awareness. The evaluation model was tested through a user survey and showed both opportunities and compliance with security requirements.
The document discusses the history and development of internet banking. It began in 1981 when four major New York banks offered home banking services using videotext systems. Internet banking allows customers to conduct bank transactions online instead of visiting a physical bank. It involves using electronic means to transfer funds between accounts directly. The document then discusses definitions, types, services, steps for using internet banking, who can use it, how it works, advantages, issues, security risks, problems, and ways to ensure security while banking online.
Internet banking allows customers to conduct financial transactions online through secure websites or mobile apps. It was first introduced in the United States in 1994 and later adopted in India, with ICICI Bank being the first to offer internet banking services there in 1997. Customers can use internet banking to pay bills, shop online, book tickets, and access other banking services conveniently from anywhere at any time. While it offers benefits of convenience and lower costs, security risks require banks and customers to take precautions like using encrypted connections and not disclosing login credentials.
Banking professionals can now take advantage of our well-structured and subject-oriented Online Banking PowerPoint Presentation Slides. This electronic banking PPT theme helps you to showcase the obstacles faced by the banking sector that still operates offline. Further, present the problem statement through financial impact, projected revenue, and competition benchmark using our E-banking PowerPoint template. Get access to key stats on online banking, and customer channel preference to present a convincing web banking PPT presentation. Elucidate retail, corporate, or any other online banking type through this easy-to-understand internet banking PowerPoint theme. The digital banking PPT template deck helps you illustrate the leading players in the industry along with the services they offer. This E-banking PowerPoint presentation helps you convey the federal rules and regulations concerning online banking to your audience. Web banking PPT deck helps you in highlighting the implementation process. You can easily explain E-banking software providers, workforce training, costing, and integration with E-commerce platforms. https://bit.ly/30uZUqH
E-banking refers to electronic banking services provided through internet and mobile banking. It allows customers to perform banking transactions remotely without visiting a physical branch. Key services of e-banking discussed include internet banking, mobile banking, telephone banking, and ATMs. Benefits for both banks and customers are highlighted such as convenience, lower costs, and 24/7 accessibility. Risks associated with e-banking like security, technology and legal issues are also examined along with their management. A brief history and evolution of these different electronic banking channels in India are provided.
E-Banking refers to electronic banking services offered by financial institutions. It evolved from traditional in-person banking due to innovations in internet technology. One of the first banks to offer online internet banking services was Stanford Federal Credit Union in 1994. E-banking allows customers to conduct banking transactions remotely using channels like ATMs, smart cards, phone/mobile banking, and internet banking. While e-banking provides benefits of convenience and lower costs, it also introduces risks like security threats from password/identity theft, phishing scams, trojan viruses, and skimming.
Internet banking, also known as e-banking, allows users to perform banking functions through their personal computer by accessing their bank's website. The ICICI Bank launched online banking in India in 1996. E-banking provides benefits like convenience and accessibility for customers as well as cost savings for banks by reducing branch transactions and operational costs. However, security concerns remain an issue as online banking increases the risks of hackers accessing customer accounts. Regulations and security measures will need to continue evolving to fully address privacy and fraud protection as virtual and branchless banking models grow in the future.
This chapter introduces banking technology as a confluence of several disparate disciplines such as finance (including risk management), information technology, computer science, communication technology, and marketing science. It presents the evolution of banking, the tremendous influence of information and communication technologies on banking and its products, the quintessential role played by computer science in full filing banks’ marketing objective of servicing customers better at less cost and thereby reaping more profits. It also highlights the use of advanced statistics and computer science to measure, mitigate, and manage various risks associated with banks’ business with its customers and other banks. The growing influence of customer relationship management and data mining in tackling various marketing-related problems and fraud detection problems in the banking industry is well documented.
Online banking has grown in popularity in India, with over 60% of those surveyed using online banking services for their convenience and simplicity. While many banks have implemented online services, some users remain unfamiliar with the options or have concerns about security. Websites can also be improved to be more customizable according to user preferences and ensure marketing does not interfere with the banking experience. Overall, online banking provides benefits but also opportunities for further innovation to increase adoption and satisfaction.
This document presents a study on electronic banking (e-banking) in India. It introduces e-banking and examines its objectives, advantages, disadvantages and popularity among customers. The study analyzes awareness, security and the reach of internet banking services offered by State Bank of India. Primary data was collected through online sources and books, while secondary data came from various websites. The findings show that education levels influence e-banking adoption and security remains a key challenge. While e-banking offers convenience, some customers still prefer traditional banking or cannot afford internet fees. The conclusion is that improved security and guidelines will help e-banking growth in India.
The document discusses the history and types of e-banking and online banking services. It defines e-banking as the automated delivery of traditional banking products and services through electronic channels. It describes different types of online banking websites and services, from informational sites to fully transactional sites that allow funds transfers. The document also discusses debit cards, credit cards, smart cards, and ATM cards as payment methods. It provides an overview of the growth of internet banking in India and reviews literature on evaluations of major bank websites and the history of online banking services.
Indian banks are facing substantial changes as the banking landscape transforms. Consumer needs and demographics are shifting, requiring banks to adopt new technologies and channels to improve efficiency, reduce costs and better serve customers. Younger populations and growing incomes are increasing demand for retail banking products. Banks are utilizing technologies like online banking, mobile banking, ATMs and core banking solutions to lower operating expenses, enhance the customer experience and manage this changing environment.
This document summarizes an article from the International Journal of Management (IJM) about factors influencing the adoption of e-banking in India. The article discusses how e-banking has changed the banking industry and provided customers with more convenient access. It then reviews past literature on factors like trust, demographics, service quality that affect e-banking usage. The research aims to understand factors influencing customers' choice of e-banking, critical success factors for users, and obstacles preventing non-users from adopting e-banking. A mixed methods approach including questionnaires was used to understand users and non-users.
This document discusses electronic and mobile banking. It provides an overview of how electronic banking allows customers to access banking services through electronic channels without time or geographic limitations. Mobile banking allows customers to perform banking transactions through a mobile device like checking balances and transferring funds. The document then outlines the evolution of electronic and mobile banking from early online services in the 1980s to modern services. It discusses the advantages for banks, businesses, and customers in using these services and some potential disadvantages like security and fraud risks. Finally, the document discusses regulations and adoption of these services in India.
E banking system benefits and challengesabhijith00007
This document discusses e-banking (online banking) in India, including its benefits and challenges. Some key benefits of e-banking are convenience, lower costs, and increased accessibility. However, security risks, lack of trust, customer awareness, and technology implementation challenges have hindered e-banking adoption. Rural untapped markets and increasing internet/computer literacy present opportunities. Overall, while e-banking faces obstacles, it provides improved customer service and will be important for banks in India going forward.
CURRENT TREND IN INTERNET BANKING (SUBJECT -ENGINEERING ECONOMICS AND MANAG...Vraj Patel
1. NAME- VRAJ P. PATEL ,SUBJECT - EEM ,SY-COMP. -2 SVIT ,VASAD
2.Internet banking involves consumers using the Internet to access their bank account and to undertake banking transactions.
At the basic level, Internet banking can mean the setting up of a Web page by a bank to give information about its product and services.
At an advance level, it involves provision of facilities such as
accessing accounts
funds transfer
buying financial products or services online.
This is called ``transactional'' online banking.
3.BANKING SERVICES THROUGH INTERNET
4.Traditional Banking Vs. Internet Banking
5.Advantages of Internet Banking
6.EXAMPLE OF ICICI BANK
7.CASE STUDY RELATED TO CURRENT TREND OF INTERNET BANKING ,REVIEW OF WORLD WIDE INTERNET BANKING SCOPE ,
8. CONCLUSION
The document discusses online banking, including its definition as conducting financial transactions electronically rather than at a physical branch. It outlines the requirements and procedures for online banking, such as having internet access, registering with a bank, and logging in with a username and password. The key features and advantages of online banking are also summarized, such as lower transaction costs, ability to access accounts anywhere, and immediate money transfers.
E-banking provides significant benefits to both banks and customers by offering convenience, increased access, and lower costs. It allows customers to bank anytime from anywhere while solving issues with traditional banking like time and place constraints. However, e-banking also presents new security threats like ATM skimming, online fraud, and mobile malware that require preventative measures such as EMV chips, multi-factor authentication, encryption, and education. Overall, e-banking has become necessary for modern banking while continued innovation aims to address ongoing security challenges.
Electronic banking, also known as e-banking, allows customers to conduct financial transactions electronically using the internet or other electronic channels without visiting a brick-and-mortar branch. E-banking first emerged in the 1920s and grew in popularity through the 1960s with electronic funds transfers and credit cards. It is now estimated that 40% of banking transactions are conducted online. Technologies that have enabled e-banking include ATMs, online and mobile banking, telephone banking, and smart cards. E-banking offers benefits like convenience, lower costs, and increased customer relationships but also faces challenges around technology adoption, costs, and security concerns.
E-BANKING EMERGING ISSUES AND OPPORTUNITIESVinit Varma
Innovation in technology, enlarged completion, globalization and changing environments are the crucial aspects that have forced our Banking services to change. With the diminishing cost of computers and digital gadgets like tables and smart phones along with decreasing charges and easy accessibility of internet and Wifi etc would certainly boosted the awareness of technology which resulted into increasing usage of E-banking day by day. Electronic Banking is a beautiful tool to deliver banking services at customers’ convenient place like office, home etc. E-Banking is not just only help in providing quick and efficient services but it also helps in reducing transaction and delivery costs. It improves profitability providing a platform for cross selling and cost effective product information. But there are some challenges in front E-banking like security threads, lack of awareness and knowledge of end users, peoples’ perceptions, user interface, failure of bank transitions, etc. But apart from any barriers, electronic banking is the future of modern banking and this is the stage where e-banking is helping to delineate the role of a bank branch and taking branches away from that transactional banking to become customer service centres but this transformation is not that much simple and it needs a lot of innovative steps, planning and investment. This paper throws light on emerging issues and opportunities of Electronic Banking. Here, an attempt would be made to highlight some issues in E-Banking and its prospects.
The document discusses e-banking and m-banking. E-banking refers to internet banking that allows users to perform banking functions through a personal computer and browser on a bank's website. M-banking refers to mobile banking through a mobile app that allows customers to conduct financial transactions remotely using a mobile device. The document outlines the technologies used in e-banking, advantages like convenience and lower costs, and risks like phishing attacks and malware. It provides tips for safe banking like using official apps and websites and avoiding public Wi-Fi for banking.
Virtual banking allows customers to conduct banking transactions remotely through online and mobile channels without having to visit a physical bank branch. It offers conveniences like 24/7 access to accounts, faster transactions, and greater portability. However, it also poses security risks as customer information is transmitted online and accounts can be vulnerable to hacking. Banks are taking measures like following OWASP guidelines to address vulnerabilities and ensure customer information and transactions are protected on virtual banking platforms.
Electronic banking, also known as e-banking, allows customers to conduct financial transactions without visiting a brick-and-mortar bank. It includes services like internet banking, phone banking, ATM banking, and mobile banking. E-banking provides services like viewing account balances, paying bills, transferring funds between accounts, and more. While banks were initially reluctant due to security concerns, improved encryption methods and the desire to remain competitive have led to a rise in e-banking offerings in recent years.
E banking-techonology and prospect in bBangladeshMD. Baharul Alam
This presentation summarizes e-banking technologies used in the United States and United Kingdom. It defines hard and soft technologies, and describes how e-banking services like ATMs, direct deposit, and online banking have been adopted more widely in the US. Individual characteristics like income, age, and expectations predict greater likelihood of adopting e-banking. The presentation also outlines some banks in the UK, their target markets like small-to-medium enterprises, and the core banking systems and digital platforms they employ. It concludes by asking if the audience has any questions.
E-banking refers to the automated delivery of banking services directly to customers through electronic and interactive communication channels. It allows customers to view account details, pay bills, and transfer money via the internet without visiting a physical bank branch. The document discusses the definitions, history, types, benefits, and risks of e-banking in India. It outlines how e-banking emerged in the 1990s with the opening of the Indian economy to foreign banks and increased technology investments. Guidelines were established by the Reserve Bank of India to ensure security and confidentiality in e-banking transactions.
This document provides an overview of e-banking in India, including definitions, forms of e-banking such as internet banking, ATMs, telebanking, smart cards, debit cards, and e-cheques. It discusses the global e-banking landscape and trends, focusing on experiences in Asia, the US, and Europe. For India specifically, it notes that e-banking is still nascent but growing in importance. Key challenges include security concerns and technological development, which Indian banks and regulators are working to address through guidelines and initiatives.
This document discusses internet banking. It begins with a brief history of internet banking starting in 1981 with four major New York City banks offering early home banking services. It then defines internet banking as conducting bank transactions online instead of in person. The document outlines the types of internet banking, services provided, how it works involving web servers and security, advantages like lower costs and convenience, disadvantages like security risks, and concludes that internet banking aims to provide valuable services to consumers by utilizing the internet.
This document summarizes a study on account holders' perceptions of internet banking. Some key findings include:
1) The study examined reasons for preferring internet banking services, satisfaction levels, and problems faced. It found the most common reasons for use were fund transfers and checking balances.
2) It identified some common problems like network failures, errors, and security concerns. Customer satisfaction levels varied but most were satisfied or highly satisfied overall.
3) Gap analysis found satisfaction levels met or exceeded expectations on most dimensions like confidence, login processes, and information availability, though security saw a slightly larger gap.
4) There were some relationships found between socioeconomic factors and satisfaction levels, though correlations were not overwhelmingly strong
Internet banking, also known as e-banking, allows users to perform banking functions through their personal computer by accessing their bank's website. The ICICI Bank launched online banking in India in 1996. E-banking provides benefits like convenience and accessibility for customers as well as cost savings for banks by reducing branch transactions and operational costs. However, security concerns remain an issue as online banking increases the risks of hackers accessing customer accounts. Regulations and security measures will need to continue evolving to fully address privacy and fraud protection as virtual and branchless banking models grow in the future.
This chapter introduces banking technology as a confluence of several disparate disciplines such as finance (including risk management), information technology, computer science, communication technology, and marketing science. It presents the evolution of banking, the tremendous influence of information and communication technologies on banking and its products, the quintessential role played by computer science in full filing banks’ marketing objective of servicing customers better at less cost and thereby reaping more profits. It also highlights the use of advanced statistics and computer science to measure, mitigate, and manage various risks associated with banks’ business with its customers and other banks. The growing influence of customer relationship management and data mining in tackling various marketing-related problems and fraud detection problems in the banking industry is well documented.
Online banking has grown in popularity in India, with over 60% of those surveyed using online banking services for their convenience and simplicity. While many banks have implemented online services, some users remain unfamiliar with the options or have concerns about security. Websites can also be improved to be more customizable according to user preferences and ensure marketing does not interfere with the banking experience. Overall, online banking provides benefits but also opportunities for further innovation to increase adoption and satisfaction.
This document presents a study on electronic banking (e-banking) in India. It introduces e-banking and examines its objectives, advantages, disadvantages and popularity among customers. The study analyzes awareness, security and the reach of internet banking services offered by State Bank of India. Primary data was collected through online sources and books, while secondary data came from various websites. The findings show that education levels influence e-banking adoption and security remains a key challenge. While e-banking offers convenience, some customers still prefer traditional banking or cannot afford internet fees. The conclusion is that improved security and guidelines will help e-banking growth in India.
The document discusses the history and types of e-banking and online banking services. It defines e-banking as the automated delivery of traditional banking products and services through electronic channels. It describes different types of online banking websites and services, from informational sites to fully transactional sites that allow funds transfers. The document also discusses debit cards, credit cards, smart cards, and ATM cards as payment methods. It provides an overview of the growth of internet banking in India and reviews literature on evaluations of major bank websites and the history of online banking services.
Indian banks are facing substantial changes as the banking landscape transforms. Consumer needs and demographics are shifting, requiring banks to adopt new technologies and channels to improve efficiency, reduce costs and better serve customers. Younger populations and growing incomes are increasing demand for retail banking products. Banks are utilizing technologies like online banking, mobile banking, ATMs and core banking solutions to lower operating expenses, enhance the customer experience and manage this changing environment.
This document summarizes an article from the International Journal of Management (IJM) about factors influencing the adoption of e-banking in India. The article discusses how e-banking has changed the banking industry and provided customers with more convenient access. It then reviews past literature on factors like trust, demographics, service quality that affect e-banking usage. The research aims to understand factors influencing customers' choice of e-banking, critical success factors for users, and obstacles preventing non-users from adopting e-banking. A mixed methods approach including questionnaires was used to understand users and non-users.
This document discusses electronic and mobile banking. It provides an overview of how electronic banking allows customers to access banking services through electronic channels without time or geographic limitations. Mobile banking allows customers to perform banking transactions through a mobile device like checking balances and transferring funds. The document then outlines the evolution of electronic and mobile banking from early online services in the 1980s to modern services. It discusses the advantages for banks, businesses, and customers in using these services and some potential disadvantages like security and fraud risks. Finally, the document discusses regulations and adoption of these services in India.
E banking system benefits and challengesabhijith00007
This document discusses e-banking (online banking) in India, including its benefits and challenges. Some key benefits of e-banking are convenience, lower costs, and increased accessibility. However, security risks, lack of trust, customer awareness, and technology implementation challenges have hindered e-banking adoption. Rural untapped markets and increasing internet/computer literacy present opportunities. Overall, while e-banking faces obstacles, it provides improved customer service and will be important for banks in India going forward.
CURRENT TREND IN INTERNET BANKING (SUBJECT -ENGINEERING ECONOMICS AND MANAG...Vraj Patel
1. NAME- VRAJ P. PATEL ,SUBJECT - EEM ,SY-COMP. -2 SVIT ,VASAD
2.Internet banking involves consumers using the Internet to access their bank account and to undertake banking transactions.
At the basic level, Internet banking can mean the setting up of a Web page by a bank to give information about its product and services.
At an advance level, it involves provision of facilities such as
accessing accounts
funds transfer
buying financial products or services online.
This is called ``transactional'' online banking.
3.BANKING SERVICES THROUGH INTERNET
4.Traditional Banking Vs. Internet Banking
5.Advantages of Internet Banking
6.EXAMPLE OF ICICI BANK
7.CASE STUDY RELATED TO CURRENT TREND OF INTERNET BANKING ,REVIEW OF WORLD WIDE INTERNET BANKING SCOPE ,
8. CONCLUSION
The document discusses online banking, including its definition as conducting financial transactions electronically rather than at a physical branch. It outlines the requirements and procedures for online banking, such as having internet access, registering with a bank, and logging in with a username and password. The key features and advantages of online banking are also summarized, such as lower transaction costs, ability to access accounts anywhere, and immediate money transfers.
E-banking provides significant benefits to both banks and customers by offering convenience, increased access, and lower costs. It allows customers to bank anytime from anywhere while solving issues with traditional banking like time and place constraints. However, e-banking also presents new security threats like ATM skimming, online fraud, and mobile malware that require preventative measures such as EMV chips, multi-factor authentication, encryption, and education. Overall, e-banking has become necessary for modern banking while continued innovation aims to address ongoing security challenges.
Electronic banking, also known as e-banking, allows customers to conduct financial transactions electronically using the internet or other electronic channels without visiting a brick-and-mortar branch. E-banking first emerged in the 1920s and grew in popularity through the 1960s with electronic funds transfers and credit cards. It is now estimated that 40% of banking transactions are conducted online. Technologies that have enabled e-banking include ATMs, online and mobile banking, telephone banking, and smart cards. E-banking offers benefits like convenience, lower costs, and increased customer relationships but also faces challenges around technology adoption, costs, and security concerns.
E-BANKING EMERGING ISSUES AND OPPORTUNITIESVinit Varma
Innovation in technology, enlarged completion, globalization and changing environments are the crucial aspects that have forced our Banking services to change. With the diminishing cost of computers and digital gadgets like tables and smart phones along with decreasing charges and easy accessibility of internet and Wifi etc would certainly boosted the awareness of technology which resulted into increasing usage of E-banking day by day. Electronic Banking is a beautiful tool to deliver banking services at customers’ convenient place like office, home etc. E-Banking is not just only help in providing quick and efficient services but it also helps in reducing transaction and delivery costs. It improves profitability providing a platform for cross selling and cost effective product information. But there are some challenges in front E-banking like security threads, lack of awareness and knowledge of end users, peoples’ perceptions, user interface, failure of bank transitions, etc. But apart from any barriers, electronic banking is the future of modern banking and this is the stage where e-banking is helping to delineate the role of a bank branch and taking branches away from that transactional banking to become customer service centres but this transformation is not that much simple and it needs a lot of innovative steps, planning and investment. This paper throws light on emerging issues and opportunities of Electronic Banking. Here, an attempt would be made to highlight some issues in E-Banking and its prospects.
The document discusses e-banking and m-banking. E-banking refers to internet banking that allows users to perform banking functions through a personal computer and browser on a bank's website. M-banking refers to mobile banking through a mobile app that allows customers to conduct financial transactions remotely using a mobile device. The document outlines the technologies used in e-banking, advantages like convenience and lower costs, and risks like phishing attacks and malware. It provides tips for safe banking like using official apps and websites and avoiding public Wi-Fi for banking.
Virtual banking allows customers to conduct banking transactions remotely through online and mobile channels without having to visit a physical bank branch. It offers conveniences like 24/7 access to accounts, faster transactions, and greater portability. However, it also poses security risks as customer information is transmitted online and accounts can be vulnerable to hacking. Banks are taking measures like following OWASP guidelines to address vulnerabilities and ensure customer information and transactions are protected on virtual banking platforms.
Electronic banking, also known as e-banking, allows customers to conduct financial transactions without visiting a brick-and-mortar bank. It includes services like internet banking, phone banking, ATM banking, and mobile banking. E-banking provides services like viewing account balances, paying bills, transferring funds between accounts, and more. While banks were initially reluctant due to security concerns, improved encryption methods and the desire to remain competitive have led to a rise in e-banking offerings in recent years.
E banking-techonology and prospect in bBangladeshMD. Baharul Alam
This presentation summarizes e-banking technologies used in the United States and United Kingdom. It defines hard and soft technologies, and describes how e-banking services like ATMs, direct deposit, and online banking have been adopted more widely in the US. Individual characteristics like income, age, and expectations predict greater likelihood of adopting e-banking. The presentation also outlines some banks in the UK, their target markets like small-to-medium enterprises, and the core banking systems and digital platforms they employ. It concludes by asking if the audience has any questions.
E-banking refers to the automated delivery of banking services directly to customers through electronic and interactive communication channels. It allows customers to view account details, pay bills, and transfer money via the internet without visiting a physical bank branch. The document discusses the definitions, history, types, benefits, and risks of e-banking in India. It outlines how e-banking emerged in the 1990s with the opening of the Indian economy to foreign banks and increased technology investments. Guidelines were established by the Reserve Bank of India to ensure security and confidentiality in e-banking transactions.
This document provides an overview of e-banking in India, including definitions, forms of e-banking such as internet banking, ATMs, telebanking, smart cards, debit cards, and e-cheques. It discusses the global e-banking landscape and trends, focusing on experiences in Asia, the US, and Europe. For India specifically, it notes that e-banking is still nascent but growing in importance. Key challenges include security concerns and technological development, which Indian banks and regulators are working to address through guidelines and initiatives.
This document discusses internet banking. It begins with a brief history of internet banking starting in 1981 with four major New York City banks offering early home banking services. It then defines internet banking as conducting bank transactions online instead of in person. The document outlines the types of internet banking, services provided, how it works involving web servers and security, advantages like lower costs and convenience, disadvantages like security risks, and concludes that internet banking aims to provide valuable services to consumers by utilizing the internet.
This document summarizes a study on account holders' perceptions of internet banking. Some key findings include:
1) The study examined reasons for preferring internet banking services, satisfaction levels, and problems faced. It found the most common reasons for use were fund transfers and checking balances.
2) It identified some common problems like network failures, errors, and security concerns. Customer satisfaction levels varied but most were satisfied or highly satisfied overall.
3) Gap analysis found satisfaction levels met or exceeded expectations on most dimensions like confidence, login processes, and information availability, though security saw a slightly larger gap.
4) There were some relationships found between socioeconomic factors and satisfaction levels, though correlations were not overwhelmingly strong
Online banking allows customers to conduct financial transactions through a financial institution's website. It requires internet access, registration with the institution, and a username and password. Features include viewing account balances and transactions, downloading statements, ordering checks, and transferring funds between linked accounts. To use online banking, customers access the institution's website, enter their login credentials, make transactions, and log out securely. Common attacks are phishing and pharming, which try to steal login data. Financial institutions use digital certificates, virus scanners, and caution with downloads to counter security risks of online banking.
This presentation is about technology internet banking or net banking which is very essential and helpful in our daily life..so in this ppt basic and some advance concepts are highlighted. i am sure this will be very much help full for u
The banking & Fintech app market in the United StatesAT Internet
The document provides analysis of the top banking and FinTech apps in the United States based on benchmarks from July 2016. Some key findings include:
- Chase Mobile was the most rated banking app on Android and among the top apps for growth in ratings on both Android and iOS.
- Venmo saw the greatest increase in app satisfaction scores on both platforms and received high ratings for its social features that are differentiated from other payment apps.
- Personal finance apps like QuickBooks Self-Employed and Schwab Mobile experienced strong growth in ratings in July 2016 on Android and iOS respectively.
This document discusses technological developments in the Indian banking sector and analyzes the impact of electronic banking (e-banking) on banks' financial performance. It outlines key events in India's e-banking development like the introduction of debit/credit cards, electronic funds transfer, real-time gross settlement systems. The document also examines different studies that have analyzed the relationship between e-banking investments and banks' profitability and productivity, with mixed findings. Committee reports from the Reserve Bank of India on computerization and e-banking in the 1980s-1990s are also summarized.
This document summarizes a study on factors influencing the adoption of mobile banking in Singapore. The researchers conducted a survey using an 18 question Likert scale questionnaire to collect data from 165 respondents. They analyzed the data to understand the impact of factors like perceived usefulness, ease of use, credibility, self-efficacy and cost on consumers' intention to adopt mobile banking. The analysis provided implications for both adopters and non-adopters of mobile banking. Limitations of the study and scope for future research were also noted.
The document discusses internet banking or e-banking. It provides a history of e-banking starting in the 1980s and defines e-banking as conducting financial transactions through a secure bank website. It describes the types of e-banking services available and provides statistics on its popularity in India. It also discusses how banks currently use the internet, examples of e-banking products/services, online banking frauds and risks, and recommendations to improve online banking.
31911477 internet-banking-project-documentationSwaroop Mane
This document provides an acknowledgement and thanks various individuals who contributed to the completion of a project on an online banking system. It expresses gratitude to the college for providing the opportunity to conduct the project and thanks the project guide for their flexibility, guidance and support. An IT officer from SBI is also thanked for sharing their expertise. Finally, friends and family are thanked for their encouragement and help in completing the project.
This thesis studied the environmental impact of sugar mills in Rahim Yar Khan, Punjab, Pakistan. It analyzed water and soil samples from 4 sugar mills over 12 months to measure parameters like EC, pH, calcium, magnesium, sodium, chloride, bicarbonate. The results showed elevated levels of these parameters in samples taken near sugar mill effluent sites, indicating water and soil pollution from the mills. The study concluded the effluents are degrading the local habitat and ecology. It recommended stricter enforcement of environmental regulations to address the situation.
This document is a project report submitted by S. Prarthana to the Faculty of Management Studies at Dhanalakshmi College of Engineering in partial fulfillment of an MBA degree. The project report studies customer awareness of internet banking services provided by Dena Bank's T.Nagar branch in Chennai. It includes an introduction, objectives, need for the study, industry and company profiles, literature review, research methodology, data analysis and interpretation, summary and conclusion. 150 customers were surveyed using a questionnaire and their responses were analyzed using statistical tools like percentage, chi-square and correlation to draw inferences and provide suggestions.
E-banking allows customers to perform basic banking transactions electronically around the clock from anywhere in the world. It involves viewing account details, paying bills, and transferring money via the internet. While e-banking provides benefits like convenience and low costs, it also faces challenges regarding security, start-up costs, and the need for trained personnel and maintenance. Banks are working to address security issues and provide safe online banking services.
The document provides information on banking in India. It defines banking as accepting deposits that are repayable on demand for the purpose of lending and investment. It discusses the key functions of commercial banks like accepting deposits and lending. It also outlines the banking system in India, including the roles of the Reserve Bank of India and State Bank of India. Major trends in the banking sector include the rise of electronic payments and digital banking services like internet banking, mobile banking, and real-time fund transfers.
This document provides tips for writing a thesis. It discusses starting the writing process early by choosing a title and outline. The outline should summarize the argument in one sentence for each chapter. Material should be collected in a binder as it is researched. Examiners will want to understand the thesis quickly, so the abstract, conclusions, and contents should clearly convey the purpose and findings. Getting feedback from others helps improve the thesis before examination. Regularly interacting with potential examiners also helps them understand and appreciate the research.
This document discusses electronic banking (e-banking). It defines e-banking as the automated delivery of traditional banking products and services directly to customers through electronic channels. There are two approaches to e-banking - a dial-in approach that requires separate finance software and an internet approach where users log directly into their bank's website. E-banking offers benefits like anytime/anywhere banking and lower costs but also drawbacks like difficulties adopting technology. Security features like SSL encryption and firewalls aim to protect online banking.
Virtual banking allows customers to bank remotely without visiting a physical branch by offering services online, through mobile apps, or over the phone. Security First Network Bank and FinatiQ were early pioneers of virtual banking in 1995 and 2000 respectively. Virtual banks offer conveniences like online and mobile banking for tasks like bill payments, funds transfers, and account access from anywhere at any time but also face challenges regarding security, technical issues, and a learning curve for customers.
This document discusses internet banking and its advantages. It provides details on the features of internet banking such as viewing bank statements, paying bills electronically, and transferring funds between accounts. It lists benefits for both banks and consumers, including lower costs, increased convenience and flexibility. The document also outlines security risks and recommends controls for authentication, access, encryption, firewalls, and intrusion detection to mitigate threats.
Perceived benefits of E-Banking and its Relationship on Banking Performance i...AI Publications
Not so long ago, numerous banks in Tanzania have commenced using of digital technologies to influence business transactions; however, there is little understanding on the perceived benefits of these products on the performance of the banks. The study scrutinized the perceived benefits from using E-Banking and its relationship on banking performance in Tanzania taking CRDB and NMB banks as the case study. The specific objectives of the research were three and they include;(i) look on benefits of internet banking and its effect on banking performance, (ii) to assess the perceived benefits of mobile banking and how it impacts the banking performance and (iii) to determine the perceived benefits of ATM services and how it impacts on banking performance. The study adopted a quantitative research design whereby a questionnaire was distributed to 352 banks customers in Mwanza region in an attempt to arrive to a larger sample of respondents. A simple random sampling technique was used in this study so as to allow an equal chance of participants to fill up in the questionnaire and to reduce the elements of bias. The regression results on the overall model showed that the model accounted for adjusted R2 value of 51.3% of the variance explained by the indicator; and the F-statistic of 124.391 which was significant as p = .000. With respect to individual variables, the results of the study brought out forward that the benefits of internet banking were positively related to banks performance although the effect was moderate. Similarly, ATM teller machines and mobile banking had positive and significant effects on the banking performance. In the end it was recommended for commercial banks to improve awareness to customers on some of the e-banking product like internet banking, in addition the commercial banks are supposed to maximize the number of e-banking product so as to minimize congestion on banking premises, and to place banking facilities to various locations to ease access by customers.
Indian growing new financial establishments, notably banks, square measure one among the most important investors within the domains of knowledge systems, and there square measure quite clear signs that these trends to spread within the future. The arrival and enlargement of globalization and also the development of Advanced technologies knowledge pushed the banks to adopt advanced technology to launch new services. Banks have applied remote enabled service victimization the net to achieve competitive advantage, increase potency, scale back prices and provide a range of latest services. On-line systems create banking transactions straightforward and convenient, notably for disabled people that could need special services. the most purpose of this current study is to look at the most keys to live the advantage perception of victimization net banking technology, as this advanced technology is taken into account together of the principal motivations underlying the inclinations of people to adopt such a convenient technology in India. The model developed associated developed during this analysis study is an extension to the Technology Acceptance Model (TAM). The model was tested with a survey sample of four hundred folks chosen arbitrarily. The findings of the study indicate that everyone mentioned factors within the projected model (CNV, SE, QI, AW, PEU, PU) have important impact at intervals prompting the employment of net banking systems. The information analysis relies on the applied mathematics Package for scientific discipline (SPSS).
Introduction
Technology in the banks is presently catching up with a high level of development around the world. The gaps between the Indian banks and their counterparts in the technologically advanced countries are gradually narrowing down. The world has witnessed an information and technological revolution of late. This revolution has touched every aspect of public life including banking (Siam, 2006). Since two decades, due to an increasingly competitive, saturated and dynamic business environment, retail banks in many countries have adopted customer-driven philosophies to address the rapid and changing needs of their customers (Walker et al., 2008). Technological advances have changed the world radically, altering the manner in which individuals conduct their personal and business affairs. Over the past two decades in particular, the banking industry has invested substantial resources in bringing ICT to customers.
The banking industry is undergoing through the significant technological changes; it has several impacts on customer satisfaction and loyalty. ―It has revolutionised every industry including banking in the world by rendering faster and cost effective delivery of products and services to the customers. According to Chakrabarty, (2007) core banking solution enables banks to extend the full benefits of ATM, tele-banking, mobile banking, internet banking, card banking and other multiple delivery channels to all customers allowing banks to offer a multitude of customer-centric services on a 24x7 basis from a single location, supporting retail as well as corporate banking activities.
Now, Indian banks are investing heavily in the technologies such as branch automation and computerization, core banking, tele-banking, mobile banking (M-banking), internet banking, automated teller machine (ATMs), data warehousing etc. ICT innovations in the previous few years have changed the landscape of banks in India (Mittal and Dhingra, 2007; Kour and Kour, 2011). Today public sector and private sector banks are offering online banking services. Various alternative channels to provide easy and any where banking are properly thought of. The process of bank computerization was started since 1985 in public sector banks in India. However, some private sector banks have started computerization prior to the public sector banks in India. The banks in India are using ICT not only to improve their own internal processes but also to increase facilities and services to their customers.
The comprehensive development of information and communication technology in the recent decades has made human face wonderfulevolution in all aspects of his life. Indeed, this evolution has had undeniable effects on economy general structure and social and cultural parts at the international level. Also, this evolution includes financial and banking services of the current century economy. They are so efficient that they have created some innovations on the kind, quality and quantity of the presented services. Technological revolutions creating high speed and low cost systems of electronic exchanges have seriously evolved financial and banking market structure. Thus this research considers e-banking fulfillmen.
Impact of Information Technology on Performance of Banks in NigeriaAJHSSR Journal
Over the last two decades, the Nigerian banking sector has witnessed some upsurge in the use
of technology for service delivery. However, concerns have been expressed as to whether cost and other
challenges of adopting information technology can be justified by performance. Accordingly, this study sought
to examine the relationship between different e-banking channels and the profitability of organisations in
Nigeria. Four e-banking channels,(automatic teller machines, point of sales, internet banking transactions and
electronic mobile banking) were identified and regressed against return on equity (ROE) of Deposit Money
Banks operating in Nigeria between 2006 and 2016. A panel data regression model was formulated and tested
using the generalized method of moment approach. The result revealed that the overall impact of electronic
banking on profitability of Deposit Money Banks operating in Nigeria was significant and positive. The study
recommends that critical stakeholders and beneficiaries of electronic banking – the government, regulatory
authorities and the banks should collaborate to put in place an enabling operating environment and an effective
regulatory framework to bring about optimal deployment of these services to customers
Mobile banking has grown in Nigeria in recent years as banks offer SMS banking, funds transfers, bill payments, and other services via mobile phones. However, the paper identifies several challenges to the operation of mobile banking in Nigeria, including insecure environments, interoperability issues between different mobile devices, unstable power and network infrastructure, and low financial literacy among many Nigerians. The paper proposes that Nigerian banks adopt a "non-bank led model" of mobile banking to make services more transformational and accessible to the unbanked, rather than just adding a new channel for existing customers. Future research is needed to address challenges like security, scalability, and expanding financial inclusion through mobile banking in Nigeria.
It is evident that financial services industry has been undergoing a profound transformation in Nigeria. Rapid changes in the banking environment, increased competition by new players from non-banking sector, product innovations, globalization and technological advancement-all these have led to a market situation in which the battle for consumers is intense. We look at the prospect and challenges of mobile banking services in Nigeria using four selected’ banks as case study, reviewed prior literatures on mobile banking, analyze the different factors that impact the market, and give direction for future research on this emerging field. A framework of four contingency and five competitive factors were proposed to facilitate the analysis. Factors affecting mobile services in Nigeria such interoperability, unstable power supply, network problems etc. were identified. Finally, we recommended that non–bank led model of mobile banking be adopted by Nigeria banks to make the services transformational instead of additives as is currently being practiced.
This document summarizes a study on the challenges and prospects of online banking in the Commercial Bank of Ethiopia's Debre Markos branch. The study found several challenges including interruptions to networks, lack of IT skilled workforce, security concerns, and lack of infrastructure. However, it also identified prospects such as cost reduction, increased customer satisfaction and convenience. The objectives of the study were to identify challenges of mobile and online banking, examine prospects, identify benefits to banks, and investigate solutions to problems. The findings aim to help decision-makers and managers address challenges and improve online banking services.
An evaluation of the efficacy of information technology on the performance of...Alexander Decker
This document summarizes a study that evaluated the efficacy of information technology (IT) on the performance of selected banks in Ogbomoso, Nigeria. The study reviewed literature on how IT has been applied to banking services and management. It presented results from a survey of 103 customers from 3 banks that found IT reduced time wasting and increased productivity and customer satisfaction. Statistical analysis revealed customers' perceptions of IT's impact on service delivery did not significantly differ between banks. The study concluded IT has increased banks' processing speed and ability to serve more customers, and recommended Nigerian banks continue investing in IT to further enhance customer service and profitability.
The Effect of Customers Perception on Security and Privacy of Internet Bankin...paperpublications3
Abstract: Internet banking allows banks to provide information and offer services to their customers conveniently using the internet technology. However, studies have shown that customers have perceptions that impact on the uptake and continuous usage of the platform. The purpose of this study is to understand the effect of customer perceptions on usage of internet banking in commercial banks in Kenya. This study used descriptive research design while a stratified random sampling technique was used to select subjects to represent the target population which was made up of 1,837,312 customers of commercial banks within Nairobi County. An estimated 384 respondents were targeted to participate in the study. 272 questionnaires representing a 71% response rate were received and analysed. Based on the findings of the research it was concluded that customers have perception that have an effect on usage of internet banking. Customers both users and potential, are still apprehensive about the security of internet banking transactions and privacy of their sessions while online. Due to increased phishing, on online scams and frauds perpetrated online customers are reluctant to adopt or continue using internet banking. It is the responsibility of commercial banks to sensitize their customers and assure them that it is safe to access internet banking from both a private and public network. They should provide customers with guidelines on how to safe guard their information and secure their log on credential while using both private and public networkKeywords:Internet banking, commercial bank, Technology Acceptance Model, customer perceptions.
Title:The Effect of Customers Perception on Security and Privacy of Internet Banking On Its Usage in Commercial Banks in Kenya
Author:Dr. Stephen Titus Waithaka, Kilembwa Muthengi Joseph Nzeveka
ISSN 2350-1022
International Journal of Recent Research in Mathematics Computer Science and Information Technology
Paper Publications
Mobile in Banking and Finance - What Make Sense and What Notr4b
In recent years, the banking & financial services industry has been undergoing rapid changes, reflecting a number of underlying developments. Internet, wireless technology, and global straight-through processing have created a paradigm shift - from brick-and-mortar banks to banking virtually across time zones, geographical locations, access points and delivery channels. Today Mobile revolution has disrupted banking industry and this presentation provides a detailed discussion about issues of Mobile Banking.
In order to reduce cash handling cost of banks amongst other objectives, the Central Bank of Nigeria introduced the ‘cashless policy’. The success of this policy hinges on the adoption of alternative payment systems one of which is mobile banking. Thus it is imperative for policy makers and other relevant stakeholders to anticipate and deal with inhibitions surrounding the adoption of mobile banking by bank customers in the country. This study investigates the determinants of mobile banking adoption in Nigeria using a modified version of Technology Acceptance Model (TAM). This incorporates Perceived Risk, Facilitating Conditions and Demographic Characteristics (Age, Gender, Educational Qualification and Income) to Perceived Usefulness and Perceived Ease-of-Use as determinants of Mobile Banking Adoption. We also propose that this relationship is mediated by attitude towards mobile banking adoption. A total of 250 bank customers from the Lagos area were selected and a structured questionnaire was designed and copies distributed to them. Data was analysed using multiple regression and computed using SPSS 20.0 computer application. Results show that Perceived Usefulness, Perceived Ease-of-Use, perceived Risk, Facilitating Conditions, Age, Educational Qualifications and Income significantly determine Mobile Banking Adoption. However, the relationship between gender and Mobile Banking Adoption is not significant. The outcome of this study has some implications to m-banking policy formulation and implementation. It also throws more light into what should be done to improve mbanking adoption rate in Nigeria
Effect of Mobile Banking on Financial Performance of Commercial Banks in Kisi...paperpublications3
Abstract: Around half of the world’s population is out of formal banking and financial services. For this reason, several mobile payment trend studies have revealed the potential of mobile network technologies for payment purposes. The main objective of the study was to assess the effect of mobile banking to financial performance of commercial banks in Kisii Town, Kenya. The specific objectives of the study were to evaluate the effect of perceived security of mobile payments technology on financial performance of commercial banks in Kisii Town, to determine the effect of perceived ease of accessibility of mobile payments technology on financial performance of commercial banks in Kisii Town and to determine the effect of transaction cost of mobile payment technology on financial performance of commercial banks in Kisii Town. The study used a sample of 255 respondents which was drawn from Operation Managers, clients, cashiers and 7 M-Pesa paying agents. The data collected were analyzed by use of descriptive statistics and inferential statistics with the help of Social Sciences version 21 software. The study found out that, perceived cost, perceived access and perceived security of mobile payments technology have a significant influence on the financial performance of commercial banks. The study concluded that the transaction cost of mobile payment is cheap, mobile banking money can be sent any time of day; it saves time of travelling and that mobile banking transactions are processed in accordance with clients’ expectations besides providing evident of payment to another person.
Keywords: Craft, External equity, Financing, Growth, Microenterprise, Tabaka.
Title: Effect of Mobile Banking on Financial Performance of Commercial Banks in Kisii Town, Kenya
Author: Isabellah Mageto, Dr. Willy Mwangi Muturi, Dr. Vitalis Mogwambo Abuga
ISSN 2349-7807
International Journal of Recent Research in Commerce Economics and Management (IJRRCEM)
Paper Publications
IOSR Journal of Business and Management (IOSR-JBM) is an open access international journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
The study was designed to identify basic factors required to deepen adoption of
internet banking in the delivery of banking services to a rapidly growing market
characterized by complexities in service requirements. Analysis of data collected from
selected customers of 5 DMBs in Lagos, Ogun and Ebonyi States of Nigeria showed
that alternative service channels offered by technology-based applications enhanced
the delivery of banking services to bank customers. Specifically, the result showed
significant impact of ease of access, cost, reliability, and security/integrity of
technology-driven service delivery channels on the adoption of engineering
technology-based applications in Nigeria's banking industry.
The Changing Face of E Commerce in Nigeria Prospects and ChallengesYogeshIJTSRD
While prior studies focused on the determinants of adoption of e commerce in large scale businesses and organizations, there is a few of empirical research on this issue of acceptance of e commerce in retail shops in emerging economies. This study addresses this lacuna by focusing on the changing faces of e commerce factors driving Nigerian retail shops’ adoption of online selling. A framework based on the extant literature and established model in the relevant field is critically examined in this study. Data were collected through a structured questionnaire and analyzed using frequency and percentage. The results showed that there is low involvement of consumers in e commerce changes in Nigeria. Secondly, the study also found out that the availability of online shopping does not affect the number of shopping trips that consumers make to physical stores. This finding has implications for e commerce sites and the government in designing an appropriate strategy for the implementation of technological innovation that are highlighted in the study. Dr. Robinson Aristarchus Bananda | Dr. Kennedy O. Nwagwu "The Changing Face of E-Commerce in Nigeria; Prospects and Challenges" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-3 , April 2021, URL: https://www.ijtsrd.com/papers/ijtsrd38018.pdf Paper URL: https://www.ijtsrd.com/management/marketing/38018/the-changing-face-of-ecommerce-in-nigeria-prospects-and-challenges/dr-robinson-aristarchus-bananda
empirical analysis on internet banking adoption in manilaAnthny Garc
This document discusses internet banking adoption in the Philippines. It provides background on the evolution of internet banking and reviews previous studies showing benefits for both banks and customers. Key factors influencing adoption are discussed, such as lack of internet access and security concerns. The Philippines banking system and history of electronic banking are overviewed. Challenges to widespread adoption in the Philippines include low internet penetration, with most users in urban areas.
1 chapter one - nature and impact of mobile financial services on the telec...Jeremmy Okonjo
This chapter explores the first research question: what is the impact of the convergence of mobile and financial services on the Kenyan telecommunications sector? It analyses the process of convergence in ICT generally, and telecoms in particular. It describes the convergence of mobile and financial services in Kenya, and the resultant converged service known as “mobile financial services”. In addition, this chapter maps out the business processes of providing mobile financial services, with the aim of appreciating the roles and functions of various stakeholders in the mobile financial services sector. These stakeholders include regulators, mobile network operators, other market players, the consumers, and the State.
Journal Publication on ROLE OF MOBILE BANKING IN ENHANCING FINANCIAL PERFORMA...Muiruri Kariri
This document summarizes a study on the role of mobile banking in enhancing the financial performance of micro and small enterprises (MSEs) in Nakuru town, Kenya. The study found that there is a strong, significant, and positive correlation between the timeliness and reliability of mobile banking and the financial performance of MSEs. Adopting mobile banking was found to likely improve MSEs' financial performance due to mobile banking's timeliness and reliability. The study recommends that MSEs fully adopt mobile banking services.
Problems encountered in e-banking in selected bank in Quezon CityLily Monilla
This document discusses electronic banking (e-banking) in the Philippines, including its history and development. It provides background on the introduction of ATMs and more recent innovations like internet and mobile banking. It then discusses some challenges faced by e-banking, including security issues. The document outlines a study that aims to determine problems encountered with e-banking in selected banks in Quezon City. It discusses the study's scope, significance and definitions of key terms.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Donc Test
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting, 8th Canadian Edition by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Ebook Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Pdf Solution Manual For Financial Accounting 8th Canadian Edition Pdf Download Stuvia Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Financial Accounting 8th Canadian Edition Ebook Download Stuvia Financial Accounting 8th Canadian Edition Pdf Financial Accounting 8th Canadian Edition Pdf Download Stuvia
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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The Universal Account Number (UAN) by EPFO centralizes multiple PF accounts, simplifying management for Indian employees. It streamlines PF transfers, withdrawals, and KYC updates, providing transparency and reducing employer dependency. Despite challenges like digital literacy and internet access, UAN is vital for financial empowerment and efficient provident fund management in today's digital age.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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internet-banking
1. - 0 -
Ndation EUROPEAN UNIVERSITY OF LEFKE
Cyprus Science Foundation
DEPARTMENT OF BUSINESS ADMINISTRATION
MASTER’S THESIS
TITLE OF THESIS
The Internet Banking Adoption: An Empirical Investigation of Ghana’s
Banking Sector
STUDENT NAME: ERIC YEBOAH-ASIAMAH (26-1063)
SUPERVISED BY: ASSOC. PROF. DR K.M GEORGE
georgeccbmtrvl@yahoo.co.uk
+91- 9446501595
Eric Yeboah-Asiamah holds a Master of Business Administration (MBA Management) Degree from
European University of Lefke during 2007/2008 academic year. His research interest includes
measurement and metrics for marketing, e-commerce, e-marketing and, general management issues.
E-mail: ericyeboah8@yahoo.com or nyamebaeric@yahoo.com
Postal Address: Box CT 3450, Cantonments-Accra. Ghana West Africa
2. - 1 -
ABSTRACT
Recent years have witnessed phenomenal transformations in the operations
of many businesses due to the immense advances in information
communication technology (ICT). Banks have accordingly introduced web-
based services, appropriately called internet banking. Many studies have
looked at different aspects of this phenomenon, and their impacts on the
banking industry. However, these studies generally focused on the adoption
of the technologies in developed countries.
This study, therefore, sought to help fill the literature and knowledge gaps by
investigating and establishing the level of internet banking adoption in Ghana
(a developing country) through critical evaluation of the functionality and
interactivity of websites of selected banks in the country. The study also
identified the major factors inhabiting internet banking adoption in Ghana.
A descriptive research design was used. Twenty-one (21) banks indicating
adoption of internet banking were randomly selected for the study. A ranking
model (on ranks of 1 – 6) was used to ascertain the level of internet banking
adoption by the sample banks by evaluation of the website contents of these
banks. Self-administered questionnaires were used to collect, compare, and
validate the data obtained from the websites. Data were analysed using
SPSS version 16.0.
Most of the 21 banks assessed operated a basic level of interactivity (only
information provision on website). Approximately 24% were providing of
transactional services. This was done to a limited extent. Cost was identified
as the major inhibiting factor to the successful adoption of internet banking.
This included the cost of obtaining proper security measures on the websites
as well as the acquisition of other operational facilities. Lack of high speed
internet connection followed as a major inhibiting factor to internet banking
adoption, with government interference having no impact on the adoption of
internet banking services in Ghana. The implications of the study are that,
most of the market is still untapped in Ghana since the level of adoption of
4. - 3 -
The generally high reported figures of global internet use, as shown in Figs. 1
to 4, clearly reflect the scope of this electronic network. Therefore, it can be
said, arguably, that there is no other channel or platform that brings people
closer to people, or people closer to business, or businesses closer to
business like the Internet.
.
Figure 2: Growth in numbers of Internet
users between 2000 and 2007
Figure 1: Global distribution of internet
users, December 2007
Figure 3: World Internet penetration rates Figure 4: World Population by Regions
5. - 4 -
Overview of Global Internet Banking
The advent of e-Business, technological innovations and globalisation is
increasingly driving businesses to change their traditional modes of
operation. The Internet offers many opportunities to financial services
providers in terms of modified value chains and disintermediation, which are,
in turn, redefining the financial services marketplace. Diniz (1998), for
example, observes that financial institutions are using the Internet for
information presentation, two-way communication, interaction with users, and
transaction banking.
Globally, the financial sector is thus metamorphosing under the impact of
competitive, regulatory and technological forces (Jeevan, 2000). The banking
sector is currently in a transition phase (Cronin, 1998) and the re-alignment
of banking and financial services on the World Wide Web is accelerating the
pace of change. The famous quote by Bill Gates that “banking is vital to a
healthy economy, but banks themselves are not” (Serwer, 1995), highlights
the crucial nature of the electronic forces that are affecting banks above all
other financial service providers.
Difference Between Online and Internet Banking
Akhtar and Dong (2004) have explained the differences between online
banking and internet banking. They indicated that online banking involves the
provision of special application software programs which, when installed on
customers’ PCs, grants them access to their personal information through a
modem. This service was first introduced in the early 1980s (Kalakota and
Whinston, 1997). Internet banking, on the other hand, was defined as the
conducting of banking transactions through the internet. The difference
between internet banking and online banking lies in the fact that, in internet
banking, no proprietary software has been installed for accessing the banks
services over the internet. (Elliott and Loebbecke, 2000)
Earlier in the 1960s, computer-based programmes were primarily employed
to automate the back offices (core process and support) of banks (Liao,
6. - 5 -
1999). This situation has been changed by a move of information technology
(IT) into the front office, marking the advent of management information
systems, which has moved the activities of banks beyond branch-level
services (Llewellyn, 1995).
The adoption of IT applications throughout the banking sector has therefore
made the division between front and back office less relevant, as integrated
systems increasingly blur the line (Liao, et al., 1999).
Ghana- Convergence, Broadband and Internet Market
Ghana was among the first countries in Africa to be connected to the Internet
and to introduce asymmetric digital subscriber line (ADSL) broadband
services. The rapid growth in this sector in recent years is set to continue.
The sector is highly competitive with more than 140 Internet Service
Providers (ISPs). In 2007, the government indicated its commitment to
continue the privatisation of the national carrier, Ghana Telecom, as well as
the fibre network of Voltacom, the country’s electricity company. The recent
introduction of wireless broadband services such as WiMAX, in combination
with the expected full liberalisation of VoIP telephony are other key
developments that are expected to drive the market in 2008 and beyond
(Paul Budde Communication Pty Ltd., Nov 2007)
With these developments, e-Commerce has caught the attention of many
forward-lookers who seize on its friction-reducing role in an economy – it’s
potential to reduce transaction costs and open up new distribution and
marketing channels among economic stakeholders including businesses,
consumers and even governments. Consistent with numerous other
developing economies, the Ghana banking sector makes a significant
contribution to the Ghanaian GDP (George M. & Gloria K.Bob-Milliar, 2007)
The ability of banks to capitalize on the World Wide Web will not only
enhance their contribution to country growth but will also help in making
financial services cost effective and competitive and more accessible for
customers. Additionally, internet banking better allows banks to satisfy their
7. - 6 -
customers through provision of mobility, flexibility, and independence of place
and time. Unfortunately, Africa, with an internet penetration rate of 4.7%
(Miniwatts Marketing Group, 2008) has lagged behind most of the world’s
economies in tapping into these possibilities and is now playing catch-up.
Problem Statement
Despite the fact that literature on internet banking is abounding with studies
carried out mostly in the developed countries, in the Ghanaian milieu where
banks can no longer ignore the internet as a strategic weapon and
distribution channel for their products in the face of intense competition from
both home and abroad, this area is underrepresented as no studies to the
best knowledge of the authors have been conducted.
Objectives and Significance of the study
The study sought to establish the extent of adoption and use of internet
banking in Ghana, and to identify the major factors inhibiting the adoption of
internet banking in Ghana. The need for consistent and reliable data on the
current level of internet banking adoption by banks in Ghana and the
subsequent adoption of forensic approach to create the enabling
environment for effective internet banking activities in Ghana indicates the
need for the study. The Internet and similar technologies provide huge
opportunities to banks and other corporations. This is a fact acknowledged all
over the world, and not the least in Ghana where internet usage and online
banking in general are becoming very popular.
RESEARCH METHODOLOGY
Research Design and Data Collection Methods
A descriptive research design was used for the study. Non-probability
sampling was employed to select twenty one (21) banks having and
operating functional websites for the study, out of a total of 151 banks
8. - 7 -
reported by Bank of Ghana at the time of the study. The banks excluded from
the study (mostly rural banks) are those without websites, or whose websites
were not functioning well, at the time of the study.
Prior to the actual data collection, two pilot studies, each with a sample of 3
respondents, consisting of individuals with and without knowledge within the
subject area, were conducted. According to Allison et al. (1996) and Fink
(1995), for a pilot study, a sample size of 100 would require a minimum of 5
respondents. The number of respondents used for the pilot study in this
research was therefore sufficient.
Feedback from the first pilot study provided useful concerns regarding the
wording and structure of the questionnaire. Based on the feedback, the first
questionnaire was updated and was used in a second pilot .This helped to
ascertain the suitability of the questions for individuals with and without
knowledge of the subject of this research. Data from the pilot studies was
not included in the final report of the research.
In the actual data collection, a two-stage collection strategy was used. At the
first stage, the Diniz (1998) model was used to collect primary information
from the websites of the sample banks by dividing the functionality of
websites into three (3) different categories.
At the second stage, open-ended questionnaires were administered to the
sample banks to collect information on the extent of internet banking they
employed, and the factors they considered to be inhibitory to the adoption of
the service.
The Diniz Model
Diniz (1998) proposed a model to evaluate the websites of banks in the
United States of America (USA) in a study undertaken to learn about web
banking models that used in the USA. The model provided a tool to classify
and make comparisons between different kinds of banks from different
groups and sizes. It divides the functionality of websites into three (3)
categories (Table 1), namely:
9. - 8 -
(i) Information Delivery (Since banks often work as information
disseminators)
(ii)Transactions channels (as avenues for conducting loans actions in
same way as bank branch offices or ATMs function)
(iii) Customer Relationship (as a tool to improve customer
relationships)
Each of these categories of activities was further divided into three levels of
interactivity namely: BASIC, INTERMEDIARY and ADVANCED. The different
levels of activities and their corresponding interactivity are shown in Table 1.
Table 1: Modified Model Used for This Study
Source: http://www.arraydev.com/commerce/jibc/ (Accessed: 8 Mar 2008)
Due to the nature of the market in which the study was conducted, an
additional component, security measures (Chimeke et al (2006), was added to
the elements of the Diniz model. This was done to ascertain the level to
which the online customers as the banks were protected from possible
internet-based fraud.
10. - 9 -
Data Presentation and Analysis
The data collected from the websites of sample banks were evaluated using
a binary score of zero (0) and one (1) for each feature in each of the
functionality interactivity cells. A score of one (1) indicated the presence of a
feature while zero (0) indicated an absence of the feature. If the requirements
in a feature were partially fulfilled, ½ a point was given. The websites of the
sample banks were evaluated by assigning each bank a ‘Grand Score’
obtained by addition of the scores of the model items. The maximum score a
bank could get was 36 points. The banks were then ranked from 1 – 6 based
on their scores to give an indication of their adoption of Internet Banking.
The relationships between Information Delivery and Transaction Channel,
Information Delivery and Customer Relationship, Transaction Functionality
and Security Measures, and Customer Relationship and Security Measures
were assessed by correlational analyses using SPSS version 16.0.
RESULTS
Evaluation of Scores from websites of sample banks
The results (Table 3) indicate that Internet Banking in Ghana is being offered
at the BASIC level of interactivity. Banks had scores between 2 and 9.5 out
of the maximum score of 12 points. The banks were found to operate mainly
information websites. The scores per bank for the information level activity
functionality were accordingly higher than the scores for any other level
(Table 3). The scores for the transactional level of activity functionality were
at the lowest. Banks had scores between 0 and 5, indicating low Internet
transactional services provision. Relative to information level functionality,
scores for Security measures functionality scores were not high. It had a
frequency of 53(19.96%). For instance, not all the banks had adopted the
128 bit SSL encryption security measures (6 out of 21 banks have not yet
adopted 128 bit SSL encryption).
11. - 10 -
Figure 5: Levels of Functionality of Websites of Sample Banks
Table 2: Evaluation Scores of Websites of Sample Bank
12. - 11 -
Ranking of evaluation scores showed that almost all the banks (15 banks had
scores ranging from 3.5 to 16.5), had scores which were less than 50% of the
total score (Table 3).
Table 3: Ranking of Evaluation Scores
Table 4: Factors Inhibiting Internet Banking Adoption
The figures in Table 4 clearly indicates that cost and lack of high speed
internet facilities rank high among the major inhibiting factors affecting
internet banking adoption in Ghana. Of the banks assessed, 45.45% of the
respondent banks regarded the cost of interconnectivity and general ICT
13. - 12 -
costs as the reason why they had not adopted full internet banking services,
and 36.36% considered the lack of high speed internet facilities as a major
factor that inhibited their adoption of internet banking.
Correlation Analysis
Correlation analysis was used for identifying the relationship between various
functionality features on websites of sample banks.
Relationship between Information Delivery and Transaction
Channel
From Table 5, the value of correlation coefficient ‘r’ for information delivery
and transaction channel was 0.279. It implies that there is a slight weak direct
correlation between these two factors. The slight weak relationship is
suggests that most Ghanaian banks were using their well-developed
information sites to cover for their non-transactional activities.
Figure 6: Relation between information delivery and Transactional Channel
Correlation between Information Delivery and Customer
Relationship
The scatter for these two factors (Fig. 6) indicates a positive relationship
between the extent of information delivery through websites and customer
relationship. Here the correlation coefficient ‘r’ was found to be 0.851,
indicating a strong positive relationship between information delivery and
14. - 13 -
customer relationship these two factors. This is true since the quality of
customer relationship is dependent to a large extent on the nature of
information delivered. This suggests that the information delivery via the
banks websites provided a good foundation for building strong customer
relationships.
Figure 7: Relation between information delivery and customer relationship
Relationship between Transaction Functionality and Security
Measures
No relationship was identified to exist between transaction functionality (an
indication of the extent to which customers conduct web-based transactions)
and security measures provided on the websites (Fig. 8). This was also true
for security measures and customer relationship (Fig. 9).
Figure 8: Correlation between security and transactional
functionality of websites of banks
15. - 14 -
Figure 9: Correlation between security and Customer Relationship
Comparison of Website Evaluation Data and Questionnaire
Respondents
The results of data gathered from sample banks websites, buttress the
respondent answer that, almost all the banks are the basic level of
information delivery functionality. However, there is significant difference
regarding certain answers given and the evidence gathered from the
websites of the sample banks. For instance, all the banks responded that
they had search engines, which is a function of intermediate-level information
delivery, on their website. However, the data gathered through the
exploration of the websites of the sample banks revealed that only 48% were
functional.
There are other observed discrepancies between the two data. All the
sample banks answered that they advertised on their websites. However,
evaluation of their websites indicated that only 31% of the banks did effective
advertising on their websites. The data from the banks websites indicated
that 65% of the banks provided contact information (a feature of basic
information delivery), contrary to a 24% affirmative response from the
respondents. These discrepancies notwithstanding, about 80% of the data
16. - 15 -
collected from sample banks websites are supported by evidence from
respondents. This supports the validity and reliability of the research findings.
DISCUSSION
The findings of this study did not differ appreciably from those of previous
studies. Relative to developed international markets and the empirical results
of other studies, it can be inferred that Internet banking in Ghana is greatly
embryonic. Clearly, only 6 banks out of 21 universal and commercial banks
operating in Ghana offered (a limited number of) transactional, information
delivery and customer relationship services through their websites, scoring
above 3 in a rank of 6.
The findings that indicates that the major challenge facing further
development of internet banking in Ghana is the high cost of
telecommunication services. Additionally, lack of high speed internet services
and human resources, which facilitates optimum use of technology, was
identified as another key challenge.
An indication that internet banking is still in its early stages of adoption and
development in Ghanaian banks is shown by the fact that the application
most mentioned by respondents was the provision of information about
products and services. Ghanaian banks are required to make a conscious
effort to move towards effective and efficient internet banking usage with a
view to conducting real financial transactions and consequently, improving
electronic customer relations.
17. - 16 -
SUMMARY AND CONCLUSION
The main findings of the study can be summarized as follows:
1) Only 6 banks (28.57%) were ranked above a score of three (3). This is
the number that scored above half of the six (6) score mark require to
indicate that a bank had fully adopted internet banking services
2) Data from both the survey and the exploration and evaluation of
sample banks websites revealed that at least 80% of the sample
banks were operating at the basic level of interactivity, with the
websites of most of the sample banks providing information only
3) Cost was identified as the major inhibiting factor to the successful
adoption of internet banking in Ghana. The costs included the cost of
securing proper security measures on the websites, and the
acquisition of other operational facilities. Lack of high speed internet
services followed the second major inhibiting factor to internet banking
adoption. Government interference had no inhibitory influence on the
adoption of internet banking services in Ghana
4) There was a direct relationship between information delivery and
customer relationship. This suggests that the information websites
operated by most of the sample banks were effective in building
customer relations, given that the quality of customer relationship is,
to a large extent, dependent on the nature of information delivered
5) The nature of security measure available affected the extent of
transactional services customers were likely to demand. However,
customers were more likely to feel secure with internet banking
activities if the banks developed and maintained good relationships
with them
6) Private sector and foreign banks operating in Ghana were the drivers
of most of the recent growth in internet banking in Ghana
7) Most of the market is still untapped in Ghana since the level of
adoption of internet banking was very low. There is a lot of opportunity
18. - 17 -
for banking institutions to expand their Internet banking services to
have a more sophisticated customer base
MANAGEMENT IMPLICATIONS AND
RECOMMENDATIONS
The expectations of customers in recent years have increased with internet
banking. Thus is it recommended, based on the findings of this study, that:
1) The websites of banks offering internet banking services should
transcend information delivery purposes. Banks should put in place
proper measures for maintaining and updating their websites,
including the various security features and key ingredients of Internet
banking (such as confidentiality, veracity, availability and effective
communication)
2) Banks offering internet services must offer most, if not all, of the
traditional banking services on the internet in order to attract more
customers
3) The Government of Ghana and the appropriate authorities should
endeavour to help in reducing the cost of internet connectivity, and
general Information and Communication Technology (ICT) access.
This will enable the general public to gain access to affordable and
fast telecommunication services
4) The Government of Ghana, in collaboration with the banks, should
embark on intensive public education on the workability, benefits,
security and effectiveness of Internet banking. This will instil more
confidence in the customers and hence guarantee their patronage of
Internet banking services
19. - 18 -
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