Organizations of different business sectors had gained massive opportunities, along with threats too, generated by the rapid growth and popularity of the internet and technologies, to endorse and deliver their products and services through electronic distribution channels (Chau & Lai, 2003). The significance of the Internet for financial services had been emphasised by researchers more than any other industry (Mukherjee & Nath, 2003; Tan & Teo, 2000). In addition to opportunities of e-channels, banks and financial institutions all over the world are facing new challenges to the ways they operate, deliver their services and compete with one another in the financial sector. Considering those challenges, banks and financial institutions have …show more content…
From the customer’s perspective, round the clock accessibility of Online banking throughout the year, without physically visiting a bank’s branch, facilitates a convenient and effective approach to manage personal finances, no matter where the location is (Rotchanakitumunai & Speece, …show more content…
Furthermore, Online banking has formed huge competition among banks, products and services specifically for users in countries where Online banking is most developed, for instance, Sweden. Such competition and/or consumer demand, had droved banks to introduce and maintain several services, including those non-profitable ones. The statistical relationship between profitability and services offered will possibly varies with smaller banks (having assets less than US$100 million) than bigger banks (assets over US$100) as expressed by researchers (Frust et al.,
Jalal Hafidi MIS5206.001– HDFC case analysis 1 1. What, if anything, should HDFC do to make existing customers more secure? First of all, all systems can be compromised no matter what, which means it hasn’t been done yet in the IT field. HDFC is still fairly new in the market, with the technology trend, online banking will be the most challenging and vulnerable part of the game. HDFC seems to have pretty strong security system and procedures, however, its models still haven’t matured yet, leading to maybe inconvenience to the customers and/or an opportunity for hackers to test and dust off their hacking skills.
s and to give the organisation a sounder footing should the market become more competitive in the near future. Possible drawbacks with such an online service would be security threats to accounts held by online customers. Also the broader issue of an anti-competitive industry may withhold such an expansion by one of the market leaders. 5. Bibliography 1.
The company pays attention to its customers and try’s to appeal to their wants and needs through advertisements. “The primary objective of marketing is to influence the consumer behavior in favor of the company engaging in the marketing activities” (Krishna-Agrawal, 2010). Bank of America now gains insights from the “Bank of America Trends in Consumer Mobility Report”. The Bank of America Trends in Consumer Mobility Report is an annual study exploring broad mobile trends and banking behaviors among adult U.S. consumers. Bank of America is continuously focused on providing customers ease and convenience in mobile banking. Bank of America’s mobile banking platform remains a key source of increased customer engagement as well as consumer
Issued its unmistakable quality, shockingly couple of studies on individual banks have been accounted for in the financial writing. The reason for this report is to give basic assessment of on ANZ Bank that uses e-Commerce and e-Business as a major aspect of their Digital Economy. TRADE: BANKING SECTOR ESTABLISHMENT : ANZ Bank of Australia is really a product of Union Bank of Australia (1837) and
This paper studies endogenous diffusion and impact of a cost-saving technological innovation -- Internet Banking. The bank understudy i.e. ICBC has efficiently embarked on its internet based private banking service. The vice director of e-banking felt that the entire project was an accomplishment in terms of its schema and satisfactory quality. Here is this case he needs to expound the understandings and the lessons internalized along the entire course of the project. Moreover, there were various issues which were raised during this intellectual itinerary, which included the challenges regarding computer system implementation, Information system design and most importantly the feasibility analysis. This case deals with the fact that how he confronted the challenges and developed a plan which immensely benefited bank.
The information and communication technology is playing a very important role in progress and advancement in all walk of life , The opening up of the banking sector and they way a bank function has changed in the current decade ,Information and communication technology has provided a very important role in delivering the best services to the bank customers. The introduction of electronic banking has changed the way the customer are moving away from the traditional branch banking system to the convenient and comfortable virtual banking system. These electronic banking channels has enhance the way a customer is availing banking services. This has reflected in increase in numbers of ATM across world and more importantly in India.
Poon, W.C.(2008) Providing a specific focus to User’s adoption of e-banking services: the Malaysian perspective The result of this study shows that perceived usefulness, perceived ease of use, consumer awareness and perceived risk are the important determinants of online banking adoption. Study concluded that usefulness, ease of use of the system awareness about online banking and risks related to it are the main perusing factors to accept online banking system.
Business today is inextricably intertwined with technology, from the smallest home office, to a multinational corporation with multiple monolithic legacy application. It is impossible to be in business today without confronting the issues of technology. The way we do business today is different than 30 years ago. Technology has evolved around the areas of telecommunication, travel, stock market, shipping even around our daily lives. E-commerce a system by which people can buy, sell and deal without even seeing the person on the other side has taken a front seat in improving the economy of countries around the world. Technology today has made it possible for monetary institutions to help locate the customers resources and help solve their problems at any given time through online banking. The Internet, a boon to all business, is playing a part of a catalyst; it links millions of customers to its suppliers and vice versa due to this, manufactures are able to cut the role of middlemen and are able to deal with the customers, giving them the ability for direct input from the customers about their choices and views of their product. The busi...
Mobile banking provides many advantages to banks such as improving service quality, improving customer retention, extending their customers reach, enhancing operational efficiency, requires little or no infrastructure and reducing costs (Shaikh, 2013; Khraim et al., 2011), and it also provides many advantages to customers such as instant connectivity, reducing the risk of carrying cash, access to banking services anytime and anywhere without temporal and spatial constraints , doing banking operations in an appropriate manner remotely (Darsow & Listwan, 2012).
This paradigm shift in banking operations is well-known as modern banking. For the past two decades, the banking sector has chosen a new service channel based on the progress of information technology-electronic devices to respond to the changes in customer preferences and needs, increasing competition from non-banks, changes in demographic and social trends, and government deregulations of the financial service sector (Byers and Lederer, 2001). This new way of performing banking activities is called modern
In simple words, Banking can be defined as the business activity of accepting and protection money owned by other individuals and entities, and then giving out this money in order to earn a profit. However, with the channel of time, the activities covered by banking business have widened and now various other services are also offered by banks. The banking services these days include issuance of debit and credit cards, providing safe custody of valuable items, lockers, ATM services and online transfer of funds across the country / world .In Lebanon there is two types of bank ,local bank and foreign bank. One of the best local bank in Lebanon is "Blom Bank" and on the other hand ,"HSBC" BANK is the most popular foreign bank in Lebanon
Banks stand to gain more profit significantly by the use of internet banking as it require lesser physical effort from their end. Because
Depositors use bank performance and profitability as indicators of security for their deposits in the banks. Finally, business community and general public are concerned about their banks’ performance to the extent that their economic prosperity is linked to the success or failure of their banks. Bank profitability has always attracted the interest of academics, economists, and policymakers. With increasing regulation during the global financial crisis, however is gives an understanding of what drives bank profits is increasingly crucial. Literature that has examined bank profitability in many countries in the l... ...
Online banking is fairly established practice in our saturated world. Many people are making use of the unique and convenient options that online banking services provide.
... new possibilities. Due to the absolute transparency of the market, clients (both business as well as retail) can compare the services of various banks more easily. The Internet has continued since the late 1960s but for most of that time it was only available to governments and for scientific groundwork purposes. By the mid 1990s, as web interfaces enhancesd improved, it became available to the public and E-commerce developed, allowing businesses to offer their products and services on the web. For example, on the internet, if clients are not happy with the products, services or prices offered by a particular bank, they are able to switch their banking partner much more easily than in the physical or real bank-client relationship. From the banks’ point of view, use of the internet has significantly reduced the physical costs of banking operations and transactions.