Critical review: Factors influencing the adoption of internet banking: a case study of commercial banks in Mauritius Introduction The growing popularity of internet banks stems from the fact that their services are considered as more attractive than those offered by traditional banks. The internet is the fastest growing banking channel today, both in the fields of corporate and retail banking in developed countries such as USA and UK (Alam et al., 2007). Similarly, internet banking is predicted to transform and revolutionize the traditional industry (Mols, 1999; Daniel, 1999). Banking activities are easily digitized and automated as argued by various researchers (Elliot and Loebbecke, 2000; Daniel, 1998; Cervantes, 1997; MSDW, 2000) and the
According to Furst et al. (2000) some of the reason for the increase in this aspect of banking are the notion that electronic banking and payments will grow rapidly, more or less in tandem with proliferating electronic commerce; industry projections that Internet banking will cut banks’ costs, increase banks’ revenue growth, and make banking more convenient for customers; and some vexing public policy issues. Chaven (2013) adds that internet offers customers faster access, more convenient and around the clock access to banking irrespective of the customer’s location and time. Salawu et al. (2007) adds that internet offers faster delivery of information from the customer and service provider, this adding to the importance of internet banking.
For example, new consumer perceives less risk in buying from online business because it can provide good service and high quality product for unknown online shop. For this study, understanding consumer’s perceived reputation in online business is important of internet purchaser’s trust on their purchasing intention. It is hypothesized
(Annual report, 2014) There is website for the bank but it is only connecting to face book and not for any other social media. Even the mobile banking or internet banking is not linked to the main website and customers those who want to find the links unable to find through the main website. When it is using mobile banking or internet banking it should be able to use the service from any type of smart phone or iPad. It is also important to pass the massage to the customers and attract them to the new digital services. There is no twitter account and no updates in twitter.
Online business banking is a kind of banking service catered for clients with online or Internet enterprise. Usually, people with online stores such as those transacting in Ebay, Craiglist or other online stores have this type of banking amenity. There are many benefits a client can get from having an Internet business banking. Despite you're miles from your bank or out of the homeland, you can still use this kind of banking account as far as you have Internet access. The top common benefits of having this type of banking account can be seen below.
As evident, the recent economic recession claims high influence on the banking sector of the world (Siu, 2003). Barclays bank required to manage the challenges through technical and operational steps. Internet has made every steeps easy for them, which is currently one of the top topic in the world. By communicating the customers and clients through their advanced technical systems, they are managing the situation. Summing up the challenges, this research study aims to explore and identify the effect of internet banking on the customer retention in context to the challenges while redefining its business.
Online payment is very important. Customers and businesses can use the credit card account to implement the payment. The overhead of a lot of people can be omitted in the Internet by using the electronic payment method. Online payment will require more reliable transmission of information security controls to prevent fraud, hacking, fraudulent and other illegal acts. Online payment will need to have the electronic finance to support, that is, the bank or credit card companies and insurance companies and other financial institutions to provide financial services to provide online services.
The study also covered perceptions of banks regarding the strategic and operational value, its benefits to customers and banks, and the key technology considerations. They concluded that few respondents thought that internet banking is just a fad while nearly half 49% believed that it is essential for a bank’s survival and thus mandatory in order to compete effectively. Shilpi Khandelwal (2011) analysed the factors influencing the customers propensity to use electronic banking as a primary banking channel and to know the critical success factors among users of the electronic banking and concluded that the perception of the consumers could be changed by awareness program, friendly usage, less charge, proper security and the best response to the services offered. Demography played an important role in the adoption of electronic banking facilities. Ahmad Kabir and Mahmood Hussain Shah (2013) used secondary data and reviewed relevant literatures to help identify potential critical success factors of frauds prevention in electronic banking to understand factors that could be critical in strengthening fraud prevention systems in electronic banking.
The more experienced consumers are with online shopping and the more satisfied they are with past online transaction experiences, the higher their purchases amounts and the more likely they are to be repeated purchasers [Brown et al. 2003; Devaraj et al. 2002; Foucault and Scheufele 2002; Koivumi 2001; Moe and Pader 2004; Park and Jun 2003; Pires et al. 2004; Yang and Lester 2004] and the lower likelihood of them aborting an intended online transaction [Cho 2004]. This is supported by the extended Technology Acceptance Model, which suggests that increased user experience has positive effect on users’ attitudes toward technology and the mastering of that technology [Venkatesh and Morris
This has led to the innovation of internet banking that has revolutionized the banking industry worldwide (Malhotra and Singh, 2010). In general, Internet banking refers to "the use of Internet as a delivery channel for the banking services, including traditional services, such as opening an account or transferring funds among different accounts, as