5.0 Introduction
This chapter presents the summary of the study, conclusions made from the findings of the study as they relate to the research objectives.
5.1 Summary of findings
5.1.1Current e-banking products available to customers
The study found out that e-banking products available to the customers of Ghana Commercial Bank, Ecobank and Barclays are ATM Cards, Mastercard, internet banking for individuals and corporate institutions, internet banking, e-Statements, SMS banking,e-alerts, mobile banking, ATM as well as ATM, Visa card. The three banks have similar e-banking products. However Atwima Kwanwoma Bank has none of the above mentioned products. It has recently introduced SMS alert to its customers. Thus currently Atwima Kwanwoma has only SMS alert as an e-banking product.
5.1.2 The adoption and usage of these e-banking products
The study found out that most of the respondents have banked with their respective banks for at least three years but only a proportionate few uses e-banking products. The most used e-banking product is the ATM card and SMS banking. Again respondents were more satisfied with ATM card than their internet banking. The study also revealed that most respondents were dissatisfied with the effectiveness of e-banking but also admitted that the e-banking product have had a positive impact on their lives. In terms of the reliability of e-banking products, the results were mixed. Whiles some saw it as being reliable others strongly posited that the
In response to the question set, I will go into detail of the study, consisting of the background, main hypotheses, as well the aims, procedure and results gathered from the study; explaining the four research methods chosen to investigate,
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
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
The process of globalization and liberalization has virtually transformed the way of running business across the globe. Technology has entered into every sphere of the human life and the financial sector is no exception to it. E-banking, a product of the research conducted in the field of banking and financial services over the last century, is being used in India for some time now in the form of digital data in computers, Automated Teller Machines, credit and debit cards, mobile banking and net banking. Internet or e-banking means that any user with a personal computer and a browser can get connected to his bank’s website to perform any of the virtual banking functions. E-banking services can be availed for payment of bill, fund transfer,
Nowadays, most people are familiar with new technology development of electronic banking systems. Its not only provide the basic services like fund transfer and bill payments, but also doing the advance including provide the loan and card application. Electronic banking can define as the use of electronic delivery channels for banking products and services. Electronic banking services generally offered in two ways either traditional bank that is combine traditional and electronic delivery channels or virtual bank that operate entirely through electronic banking channel without having a branch network. It makes the business operational more efficient, faster and easier
In-spite of its multiple advantages, there is a need to step back and re-think on perceptions it carries with the masses. Is Internet Banking truly replacing the layers of branch banking in a big way? Is Internet Banking a definitive future of how world people will transact over
On the bank customers’ survey, we also focused on education, because this might affect the demand for electronic banking products. For example, Kwast and Kennickell (1997) have illustrated how education play important role in determining household use of e-money products.
This research study would enlighten the stakeholders in the banking sector that is, the public, respective bank customers, banks’ regulatory authorities, the academia and interested persons and organizations on the adoption of electronic payment system. The research shall basically examine the operations, problems and prospects of the newly adopted electronic payment system by the Central bank of Nigeria which include the use of debit and/or credit cards for making purchases, settling debts and exchange through the use of point of Sale in Nigerian business environment and suggests ways by which they could be tackled.
This chapter is aimed at giving conclusions that are coming from research and also recommendations given to the outcome. The conclusions and recommendations are based on the findings of the research that were presented in the previous chapter. The findings and discussions give an overview to the management team on what needs attention
The last time that technology had a major impact in helping banks service their customers was with the introduction of the Internet banking. Internet Banking helped give the customer's anytime access to their banks. Customer's could check out their account details, get their bank statements, perform transactions like transferring money to other accounts and pay their bills sitting in the comfort of their homes and offices. However the biggest limitation of Internet banking is the requirement of a PC with an Internet connection, not a big obstacle if we look at the US and the European countries, but definitely a big barrier if we consider most of the developing countries of Asia like China and
PURPOSE – The purpose of this paper is to know the perception of the customers’ towards dimensions of E-banking between public and private banks across Accuracy, Cost Effectiveness, Efficiency, Accessibility and Easy to use.
Electronic banking has been successfully adopted by developed countries and has been fully embraced by all the stakeholders active in the process. But developing countries are still lagging behind to fully embrace the benefits of e-banking. This paper explores Technical and legal factors impacting e-banking adoption in India. The research framework consists of two dimensions; technology and legal; to guide and constrain the scope of study. The findings are based on literature study of models and implementation experience of e-banking in India. The purpose of this study is to offer insights into the current e-banking adoption
Besides opportunities of this channel, banks and financial institutions across the world face new challenges to the ways they operate, deliver services and compete with each other in the financial sector. Driven by these challenges, banks and financial institutions have implemented delivering their services using this channel (Chan&Lu, 2004; Cronon, 1997). Internet banking refers to the use of the Internet as a delivery channel for banking services, which include all traditional services such as balance enquiry, printing statement, fund transfer to other accounts, bill payment, and so on, and new banking services such as electronic bill presentment and payment (Frust, Lang&Nolle, 2000) without visiting to bank branch (Mukherjee&Nath, 2003; Sathye, 1999). Many commercial banks and financial institutions have implemented Internet banking services over the past decade. Compared with traditional over the counter banking, Internet banking does not offer face-to-face contact in what is essentially a one-to-one service relationship with the individual. As a result, Internet banking must deliver higher quality in order to compete. Understanding customer’s expectations and how they feel about their perceived services is becoming a very serious concern. Internet banking continuous success comes from two groups: new customers and repeat customers. Since it always costs more to attract new customers than to retain
This study has been designed to confirm or refute the earlier findings regarding customer perceptions towards internet banking. This study explores the products and service related aspects of internet banking. In addition it is also going to explore what customers think about the security and secrecy aspects of internet banking.
Over the last few decades information technology has played an important role in Indian economy. It has affected all the industries especially the banking industry and has provided a way for the banks to differentiate their products and services. The traditional way of financial services delivered to customers called the branch based operations which had been used by the banks for more than 200 years, has been replaced by the advent of multiple technologies and application. For instance, Automated Teller Machine (ATM) displaced cashier tellers, telephone represented by call centers replaced the bank branch, the internet replaced mail, credit cards and electronic cash replaced bank transactions. The reason was the numerous key advantages that banks could gain by providing electronic banking services. In this way they had lower transactions cost, 24 hour trading, more extended business territory and also increased efficiency in daily banking process. The Banking Sector is also facing very stiff competition. In order to succeed such competition, they must offer a wide array of products with the latest technology. At present many banks and financial institutions are actively developing new electronic banking products for their customers throughout the world (Alagheband 2006) . The key players of banking industry are its customers and all the efforts made by the banks are to satisfy the desirable needs of