E-Banking Project
Research Journal of Management Sciences __________________________________________ISSN 2319–1171 Vol. 1(3), 20-24, October (2012) Res. J. Management Sci.
Internet Banking in India Consumer Concerns and Bank Marketing Strategies
Sufyan Habib
AAII College, Barabanki, INDIA
Available online at: www.isca.in
Received 18th September 2012, revised 15th October 2012, accepted 17th October 2012
Abstract
Internet banking has attracted the attention of banks, securities trading firms, brokerage houses, insurance companies, regulators and lawmakers in developing nations since the late 1990s. With the rapid and significant growth in electronic commerce, it is obvious that electronic (internet) banking and payments are likely to advance. Researches show that impact of internet banking on cost savings, revenue growth and increased customer satisfaction on Industry is tremendous and can be a potential tool for building a sound strategy. However, it has raised many public policy issues before the banking regulators and government agencies. Interestingly, reliable and systematic information on the scope of internet banking in Indian context is still not sufficient, particularly what it means to the consumers and the bankers. The paper fills significant gaps in knowledge about the consumer’s perspective of Internet banking, trace its present growth and project the likely scenario. The paper presents the data, drawn from a survey of Internet banking consumers and the services providers (banks) that offer internet banking and develops a functional model for maximizing value to the consumers, which the banks may choose to adopt Internet banking strategically. The paper identifies the weaknesses of conventional banking and explores the consumer awareness, use patterns, satisfaction and preferences for internet banking vis-à-vis conventional form of banking and also highlights the factors that may affect the bank’s strategy to adopt Internet banking. It also addresses the
Internet Banking in India Consumer Concerns and Bank Marketing Strategies
Sufyan Habib
AAII College, Barabanki, INDIA
Available online at: www.isca.in
Received 18th September 2012, revised 15th October 2012, accepted 17th October 2012
Abstract
Internet banking has attracted the attention of banks, securities trading firms, brokerage houses, insurance companies, regulators and lawmakers in developing nations since the late 1990s. With the rapid and significant growth in electronic commerce, it is obvious that electronic (internet) banking and payments are likely to advance. Researches show that impact of internet banking on cost savings, revenue growth and increased customer satisfaction on Industry is tremendous and can be a potential tool for building a sound strategy. However, it has raised many public policy issues before the banking regulators and government agencies. Interestingly, reliable and systematic information on the scope of internet banking in Indian context is still not sufficient, particularly what it means to the consumers and the bankers. The paper fills significant gaps in knowledge about the consumer’s perspective of Internet banking, trace its present growth and project the likely scenario. The paper presents the data, drawn from a survey of Internet banking consumers and the services providers (banks) that offer internet banking and develops a functional model for maximizing value to the consumers, which the banks may choose to adopt Internet banking strategically. The paper identifies the weaknesses of conventional banking and explores the consumer awareness, use patterns, satisfaction and preferences for internet banking vis-à-vis conventional form of banking and also highlights the factors that may affect the bank’s strategy to adopt Internet banking. It also addresses the
References: The Case of E-Commerce, Industrial Management, 32(4) 291-300 (2002) Marketing Rajgopalan S.P., Banking in the New Millennium, Kanishka Publishers, Distributors, 1-6 Rao, Rohit (2001) 10