Customer Satisfaction Towards E-Banking Services: a Case Study on Ific Bank Ltd.

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Prelude
In a constantly changing world of today, where past is replaced by dynamic present and the dynamic present is being replaced by more challenging future, the old ways of doing things is no longer valid. Change is permanent and a reality. Those who are not able to keep pace with the changes are destined to loose the race. Science and technology is changing the way financial institutions perform their transactions. Today’s banks are shaking by these technological changes. Life has never been so easy, comfortable, and luxurious. Science and technology have brought our life to this stage. But a new technology brings with it not only the potential for success but also a never-ending series of questions regarding its design, its value to its users, ultimate use and acceptability.

E-banking is the waves of the future. It provides enormous benefits to consumers in terms of case and cost of transactions, either through internet, telephone or other electronic delivery channels. For many consumers, electronic banking means 24-hours access to cash through an Automated Teller Machine (ATM) or Direct Deposit of paychecks into checking or savings accounts. But electronic banking now involves many different types of transactions. E-banking is a form of banking where funds are transferred through an exchange of electronic signals between financial institution, rather than exchange of cash, cheeks or other negotiable instruments. With the expansion of global Information and Communication Technology (ICT) infrastructure and the internet, e-banking is set to play a pivotal role in the national economy, proper software, infrastructure, cyber low and skilled manpower are important for the implementation of e-banking in a country.

The concept of e-banking includes all types of banking activities performed through electronic networks. E-banking includes activities like payment of bills and invoices, transfer of funds between accounts, applying for a loan, payment of loan installments, sending funds to third parties via emails or internet connections regardless of where the client is located. Since e-banking offers some smart services benefiting both banks and customers compared with traditional banking system, it has become imperative to make necessary room for the scheduled banks to flourish e- banking. Since e-banking offers some smart services benefiting both banks and customers compared with traditional banking system, it has become imperative to make necessary room for the scheduled banks to flourish e-banking. Among others, attractiveness of e-banking includes: ▪ it lowers transaction cost;

▪ provide 24-hour services;
▪ ensure increased security and control over transactions; ▪ reduces fraud risk;
▪ performs higher volume of transactions with less time; ▪ increases number and volume of value payment through banks; ▪ allows remote transactions facilities that replace physical presence of a customer in a bank branch and; ▪ increases transaction speed and accuracy.

On the other hand, traditional banking is time-consuming and more costly and therefore, e-banking is replacing traditional banking all over the world. Especially with the increasing acceptability of digital signatures around the world, e-banking has made life much easier and banking much faster and more pleasant, for customers as well as for bankers.

Problem Statement

Customer satisfaction is required for the banking sector to raise profitability, business growth and success. Customer perception is very important to add value of the banking services and products. E-banking is the waves of the future. It can provide speedier, faster, reliable services to the customers for which they are relatively happy. It provides enormous benefits to consumers in terms of case and cost of transactions, either through internet, telephone or other electronic delivery channels. A new technology brings with it not only the potential for success,...
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