In a modern world the information technologies became very important part of our everyday life. One of them is internet, it gain a high popularity in the last decade and developed a new opportunities for individuals and businesses. Of course the banking sector indeed followed that market trends and developed it services according to them. The term ‘online banking'(or Internet banking) became popular in the late 80’s; however it started to be used by a large extent not that long time ago. The Internet banking is a very competitive industry in the recent era of new technologies.
According to Keynote 2008 report about Electronic Banking the number of the registered Internet Banking users increased by an estimated 156% from 2002 to 2007. This is an extremely large figure which suggests that Internet Banking market is open to competition. The most banks now have the Internet or Online banking facilities to private and business users. The services that online banking offers are growing. If you have a connection to internet you can easily check your account balance, make payments and transfer money between accounts.
However the security issue was the case that caused people concerns about Internet Banking. The purpose of online banking is that banking customers can easily access their accounts and do their financial transactions at their own time and peace. Often the young generation is quicker adopting new technologies, while older people sometimes have difficulties to adapt to those changes. In the past years Internet banking developed extremely quickly and became a highly competitive market. Although competition is high, the number of consumers is rising.
Internet banking companies still have an opportunity to gain a larger market share. In order to do so banks need to understand consumer preferences and needs. In this research we will identify consumer attitudes and preferences toward Internet banking. This data can be used for Online banking IT and service managers to improve quality and interface of the service provided. Therefore the Internet banking market share can be increased by attracting new customers. In this research I will measure the online banking adoption in the real world by consumer satisfaction.
As a very competitive market in the recent days, Online Banking providers compete to get a larger market share. It is very important at this stage of market growth to establish brand and build customer loyalty. It is crucial for Internet banking providers to improve their services and attract new customers. Even improved security case still can be an issue to the consumers. The Service quality and innovations need to be a priority for Internet Banking management. In this research I will try to find the answers to the following questions: 1.
What consumers think about Internet banking system? 2. For what purpose consumers use Internet Banking? 3. What people think about Online Banking service quality? The Objectives of the study The aim of this research is to provide the data and data interpretation of consumer satisfaction with online banking, by fragmenting consumer samples by gender. In the end the feasible results of the research can be applied to improve service quality and decision making in Online banking management. The following objectives are set to investigate the problem: 1.
To test people perceptions and attitudes towards the Internet Banking 2. To identify how important Online banking is in people casual life 3. To find out factors that attract, or withdraw people from using online banking Research Methods Experiment Experiment research strategy is more common for natural sciences, than for business and management types of research. The simplest experiments are concerned with whether there is a link between two variables (Saunders, 2007:136). It is not always possible to carry out experience in the external environment.
Using Case study strategy is very popular in Marketing studies. Case study investigates the phenomena in a real life context using multiple source of evidence (Robson, 2002:178). Case study is used then a little known about phenomenon and by using single cases researcher can produce description of the similar cases. Case study strategy can be employed in qualitative research, there analysis and observations of concepts, definitions and characteristics are extremely important. The main advantages of using Case study research strategy is that it based on real life living.
It can provide a realistic picture through the real living experience. Secondly case study research can lead to the unexpected results, therefore providing a source for new questions to be answered. The complexity and insight in-depth enables Case study strategy illuminate the correlation process in casual relations. Moreover it explains the complexity of inter-relations. One of main draw-backs of Case Study research strategy is that it is very time consuming for both data collection and analysis.
Another limitation is that complex findings very difficult to represent in an easy and understandable way. (Source: Saunders, 2007, p139-140) Action Research Action research strategy is usually used in organization to improve communication and problem solving issues in organisation processes. Action research is simply a form of self-reflective enquiry undertaken by participants in social situations in order to improve the rationality and justice of their own practices, their understanding of these practices, and the situations in which the practices are carried out (Carr and Kemmis 1986: 162).
