I would like to thank HSBC for providing me with the opportunity of completing my summer internship with them. It has been a great learning experience and I feel honoured to have worked with some true professionals from the industry.
I would like to thank my institute, Punjabi University, Patiala, for providing me with this opportunity of working with such esteem and reputed organization, HSBC Group.
I express my deep sense of gratitude to Mr. Rahul Sondhi, Associate Vice President and Mrs. Shweta Singha (PSE), Project Guide , for providing me with the required resources, guidance and atmosphere essential for the execution and completion of the project. Without their support and valuable inputs at every stage, this project would not have been possible.
I also wish to extend my gratitude to Ms. Jyoti Dua, and Mrs. Esha for their continuous support and encouragement.
Last but not the least, I would like to thank all the other staff members at HSBC, Chandigarh who have helped me directly or indirectly in the completion of the project.
My project at HSBC involved gaining an insight into Alternate Delivery Channels (ADCs') with a focus on Internet Banking. An analysis of the differences in perceptions between bank customers using alternate delivery channels (ADCs) at HSBC and those not using ADCs was done in this research. Customers preferring to use Internet banking were asked about their experience and benefits that they get by using it. Customers preferring not to use it were asked the reasons for not using it and suggestions for improving the customers' experience while using internet banking.
My project was broadly divided into two phases:
In the first phase, I interviewed HSBC customers about their experience on internet Banking at HSBC and got the questionnaires filled by them. The questionnaire was structured in such a way so as to understand the perception of customers about internet banking (users as well as non-users), its comparative reliability and convenience in comparison to other alternate delivery channels such as ATM, phone banking and mobile banking.
During the second phase of my project, I was supposed to do registrations of customers for internet banking. I was given formal training for using internet banking, to register customers for internet banking and to handle their queries regarding the same. I was given a target of registering 3 customers a day i.e. 75 customers in all in a month's time. I was able to register 79 customers for internet banking. Also, I made sure that the queries of customers reach the senior management in order to do timely redressal of the problem.
• People have more faith on traditional banking system rather than new delivery channels.
• Some people think that transferring money through internet is a risky job and waste of time.
• Customers don't prefer to use phone banking as it is complex and time consuming.
• The very common difficulty in online trading is fraud that can occur in Internet bank. Fraud can take place in many ways like stolen of password, online fraud transfer to some other account, hacking etc.
• Some customers are not internet savvy which makes it more difficult for them to do online trading.
• There should be a personnel of HSBC who would be dealing only with ADCs i.e. internet banking, mobile banking, phone banking and ATMs in order to do speedy redressal of customer's queries.
• The customer should be given the manual for internet banking at the time of opening of account rather than wasting time and energy later on. It is easier to register the customers on internet banking at the moment of opening of account as compared to the efforts required later on.
• Internet banking involves the least...