Increased competition in the banking sector and customer demand is forcing banks to provide their services online (Southard, P. & Siau, K, 2004). Banks try to gain competitive advantages in technological atmosphere by adopting new technological developments in their area as soon as possible (Ozcan, 2007; Chang 2002). Information technology developments in the banking sector have speed up communication and transactions for clients. It is vital to extend this banking feature to clients for maximizing the advantages for both clients and service providers (Safeena, Abdullah and Hema, 2010, 2011; Qureshi et al, 2008).
In the past, internet banking has been adopted by banks mainly to decrease costs and increases revenue by reducing staff and branch networks. Today, banks are visualizing the internet banking as a strategic enabler of customer services and others view internet banking as the key to expansion. Internet banking has gained acceptance throughout the world as a new delivery channel for performing various banking and financial activities.
Internet Banking is an internet portal,...
... middle of paper ...
...ility of technology and infrastructure to support the new model of banking. Second, the need for Internet banking itself – Internet Banking or an efficient system of instantaneous banking or convenient banking. Third, an adequate mechanism to tackle the security risk and operational risk aspects (Sharma, 2001). Fourth, a proper legal framework to take care of the rights and obligation of the consumers. While most of these issues have been somewhat addressed, an important issue still remains - what existing and potential consumers feel about Internet banking and on the basis of this how an appropriate banking model can be developed in Indian context. (Sharma B.R., 2001; Gupta P.K., 2008).
Perceived Factors behind the Growth in Internet Banking:
• Cost Efficiencies
• Geographical Reach
• Relationship building
• Customers Demographics
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