E-Banking in Pakistan: Current Scenario

Moreover, bank would able to enhance the usage of internet banking by adding more services as customers required. Other actors concerns, among banks, their customers will be delighted by improving their services to their own customers. Then, actors like supermarket, shopping complex also able to gain from the internet bank usage of customers since it reduce the cost of transaction, unnecessary rush in the counters and it will help them to provide better service to the

Internet banking has many benefits for consumers and these advantages also can explain why it is growing in popularity.

(Federal Financial Institutions Examination Council,2003). The usual E-banking services provided by banks are account management; bill payment and presentment; new account opening; consumer wire transfers; investment/brokerage services; loan application and approval; account aggregation; cash management ; small business loan applications, approvals, or advances; commercial wire transfers; business-to-business payments; employee benefits/pension administration etc. Online banking or E-banking has spread around the world and has become common these days. In general, banking services have changed over the past three decades to meet the consumers’ needs (McKinsey & Company, 2012); at that time, when the consumer needed money for purchases or to make a transaction, he needed to go to the bank by himself during the bank hours and perhaps waited in a long line to meet a human teller to implement his transaction. Nowadays, due to the E-channels that surfaced with the development of technology and the Internet, the processes of banking have changed. The consumer can make a transaction from one account to another while sitting in his couch anytime and anywhere.

The use, acceptance, adoption and application of internet technology to businesses to boast their performances are not something new. Saffu et al., (2008), states that there has been a significant increase in the use and application of e-commerce in businesses in the past decade. E-commerce has benefits such as reduction in costs, increased business opportunities, reduced lead time and providing more personalized service to the customers (Turban et al., 2008). Internet banking or e-banking is one of the many tools of e-commerce adopted by the banking industry. Tools of information technology such as internet banking have significantly improved the quality of services offered by the banking

I am a student from the Faculty of Computer Science and Information Technology in Kampala International University. You are kindly requested to participate in answering the following questions, which will be used in establishing the adoption process of Internet banking in Unguka bank. Any information provided will be used for academic purposes only. Please feel free to express your thoughts.

(The wider scope of my research is the internet banking, rather the online banking, but I’ve narrowed the scope to account opening and registration. Further on, I will do more research on implementing online banking as a whole, but for this proposal, my focus is on account opening.)

Electronic Business, regularly known as E- Trade or ecommerce, is the procedure of exchanging items or administrations utilizing machine systems, for example, . It can likewise be characterized as anything that includes an online transaction. This can run from requesting on the , through online conveyance of paid substance, to budgetary transactions, for example, development of cash between ledgers, etc.

Electronic Commerce has been given several definitions. In its largest sense, E-Commerce can be defined as the whole commercial transactions, whether national or transnational, carried out thanks to electronic processing and transmission of data: texts, sound, and images. This consists in applying the information and communication technology (IT) to commercial activities: conception and production; while involving a certain number of public or private agents in direct or indirect forms.

Literature review Data Analysis and interpretation o Online banking o iMobile o PAYBACK o Privilege Banking o ATM Banking

Due to the nature of the online environment it is difficult for banks to build trust and relationships with their customers. The Internet is extremely impersonal due to its global audience, the bricks and mortar location of the local branch with a smiling advisor is much more inviting in comparison to a cold lifeless computer screen. Also the learning process involved in using e-banking can be daunting, customers must invest their time and effort into learning more to use and navigate their way around the sites. Internet banking can also be time consuming to set up and registration numbers and access codes can be misplaced, stolen or forgotten. Although

This chapter gives a summary of deductions from the data analysis in the previous chapter. It also enumerates the various options necessary to develop an effective e-banking awareness strategy to enhance service delivery in GT Bank plc and the cost implication. For continuous existence in business, the bank must improve on its service delivery to guarantee customer’s stay in the bank by developing effective e-banking services

The main concern of this journal was the application of software towards the banking industry, especially in Ethiopia. According to (Nations Online Country World Wide), Ethiopia ranked the 10th in the “Third World Countries in Terms of their Gross National Income (GNI)”. “In Ethiopia cash is still the most dominant medium of exchange and Electronic-banking is not well known, let alone used for transacting banking issues.” (Vijay & Asefa, 2011) This article discusses and considers the issues and challenges that the Ethiopian Banks are facing right now. Not only that, the journal also mentioned the difficulty of them adopting such software and technology into their banking industry.

Electronic banking technologies greatly expanded in recent years. E- Banking service is based on the use of new technologies to provide various banking services directly to customers around the clock. Banks offer a wide range of these services

There are several Research Design techniques that can be used to identify customer perceptions about internet banking and also service problems such as debit card fraud and loan issues. A survey was implemented to find out how well customer perception about e-banking leads to various banker’s function and the studies have found that the exploratory research was used in order to identify all problems

The management of the private commercial banks and nationalized commercial banks might allocate a part of their yearly profit for ICT penetration in banking activities and human resources development. They may also extend those services to the rural people of Bangladesh so that the rural people can also get the benefit of technology driven banking.