Awareness of Electronic Banking In Pakistan
, Farzan Yahya
, Muazzam Amin
, Umar Farooq Arshad
This research paper focuses on awareness ofelectronic banking in Pakistan. Electronic banking is today’sneed as it provides easy way to monitor an account. It reducescost and save our precious time. There are also somelimitations of e-banking as it requires skills to operate it andpasswords can be hacked. This research paper discussedthat people of Pakistan are well aware of electronic bankingbut they are not satisfied with the services provided by thebank and they also feel risk in that service that’s why they trustmore on employees. It contains different demographics andtheir association with research questions. This paper alsoincludes recommendations in which it describes that whatstrategies the banks should choose to increase thesatisfaction of customers.
e-banking, SMS banking, ATM.
he developments taking place in information andcommunication technology are increasingcompetition in financial institutions worldwide.Thus, the deployment of advanced technologies isessential to achieve a competitive edge. In the world ofbanking, the development of information technology hasan enormous effect on development of more flexiblepayments methods and more-user friendly bankingservices. Recently, the banking industry was highlyaffected by the technology evolution that transformedthe way banks deliver their services, using technologiessuch as automated teller machines, phones, theInternet, credit cards, and electronic cash. In line withglobal trends, electronic banking in Pakistan has beenundergoing many changes. Electronic banking is a term for the process bywhich a customer may perform banking transactionselectronically without visiting a brick-and-mortarinstitution. Electronic banking refers to systems thatenable bank customers to access accounts and generalinformation on bank products and services through apersonal computer (PC) or other intelligent device. Thereare many benefits of e-banking as it provides easy way
: Yasir Hassan, Lecturer at Lahore Business School, the University of Lahore, (54000).
Email : firstname.lastname@example.org
: Farzan Yahya, Student, Lahore Business School, the University of Lahore, (54000). Email : Farzan.email@example.com Author
: Muazzam Amin, Student, Lahore Business School, the University of Lahore, (54000). Email : firstname.lastname@example.org Author
: Umer farooq Arshad, Student, Lahore Business School, the University of Lahore, (54000). Email : email@example.com
to monitor an account, we can shop, pay bills, buy itemsat auction, and transfer money from anywhere at anytime, it reduces costs, it saves time, and vice versa.This study focuses on awareness of electronicbanking in Pakistan. Our objectives of this researchwere to:1.
Check awareness of electronic banking in Pakistan.2.
Check why people are not aware of electronicbanking.3.
Know if the people are aware of electronic bankingthen to how much extent.4.
Check whether banks of Pakistan are providingelectronic banking or not.This research is important because it tellsbankers that how much people in Pakistan are aware ofelectronic banking and to how much extend. It also tellsthem to improve their e-banking services in Pakistan.
According to Hagel and Hewlin (1997) theInternet banking became very attractive to customersand lots of banks because the technology is beingaccepted by them and they can now understand andhave information about the complex products.Nowadays banks are also facing a lot of competitionand need a high market share and provide betterservices to its customers so that they can attract thenew customers and old customers do not try to leavethem. The concept of electronic banking has beendefined in many ways (e.g. Daniel, 1999). According toKarjaluoto (2002) electronic banking is a construct thatconsists of several distribution channels. Daniel (1999)defines electronic banking as the delivery of banks'information and services by banks to customers viadifferent delivery platforms that can be used withdifferent terminal devices such as a personal computerand a mobile phone with browser or desktop software,telephone or digital television. Electronic bankingconsists of any system that uses electronic signals toreplace people or paper. There is already a significantamount of electronics in the traditional demand depositsystem; virtually all checks are processed by computer,and banks often settle their obligations for the checkspresented to them by an electronic funds transfer.Thornton and White (2001) compared several electronicdistribution channels available for banks in US andconcluded that customer orientation – towardsconvenience, service, technology, change, knowledgeabout computing and the Internet – affected the usage
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