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Awareness of Electronic Banking in Pakistan

Awareness of Electronic Banking in Pakistan

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Published by Farzan Yahya
This is our research paper on awareness of electronic banking in Pakistan.
Citation: Hassan, Y., Yahya, F., Amin, M., & Arshad, U. F. (2011). Awareness of Electronic Banking in Pakistan. Global Journal of Computer Science and Technology, 11 (17), 13-26.
This is our research paper on awareness of electronic banking in Pakistan.
Citation: Hassan, Y., Yahya, F., Amin, M., & Arshad, U. F. (2011). Awareness of Electronic Banking in Pakistan. Global Journal of Computer Science and Technology, 11 (17), 13-26.

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Published by: Farzan Yahya on Oct 16, 2011
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© 2011I .
 
 Yasir Hassan, Farzan Yahya, Muazzam Amin, Umar Farooq Arshad. This is a research/review paper, distributed under theterms of the Creative Commons Attribution-Noncommercial 3.0 Unported License http://creativecommons.org/licenses/by-nc/3.0/),permitting all non-commercial use, distribution, and reproduction inany medium, provided the original work is properly cited.
By Yasir Hassan, Farzan Yahya, Muazzam Amin, Umar Farooq Arshad
University of Lahore 
 Abstract   
This research paper focuses on awareness of electronic banking in Pakistan. Electronicbanking is today’s need as it provides easy way to monitor an account. It reduces cost and save ourprecious time. There are also some limitations of e-banking as it requires skills to operate it andpasswords can be hacked. This research paper discussed that people of Pakistan are well aware ofelectronic banking but they are not satisfied with the services provided by the bank and they alsofeel risk in that service that’s why they trust more on employees. It contains different demographicsand their association with research questions. This paper also includes recommendations in which itdescribes that what strategies the banks should choose to increase the satisfaction of customers.
Keywords   e-banking, SMS banking, ATM. 
AwarenessofElectronicBankingInPakistan
 
Strictly as per the compliance and regulations of:  
Global Journal of Computer Science and Technology 
Volume 11 Issue 17Version 1.0 October2011Type: Double Blind Peer Reviewed International Research JournalPublisher: Global Journals Inc. (USA)Online ISSN:
0975-4172
& Print ISSN:
0975-4350
GJCST ClassificationK.4.4, K.4.2 
 
 Awareness of Electronic Banking In Pakistan
 Yasir Hassan
α
, Farzan Yahya
Ω
, Muazzam Amin
β
, Umar Farooq Arshad
 
ѱ
 
Abstract -
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.
Keywords 
:
e-banking, SMS banking, ATM.
I.
 
I
NTRODUCTION 
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
 Author 
α
 Yasir Hassan, Lecturer at Lahore Business School, the University of Lahore, (54000).
 
Email  : yasir.uol@hotmail.com 
 
 Author 
Ω 
  Farzan Yahya, Student, Lahore Business School, the University of Lahore, (54000). Email  : Farzan.yahya@yahoo.com   Author 
 β 
 Muazzam Amin, Student, Lahore Business School, the University of Lahore, (54000). Email  : muazzam_amin@yahoo.com   Author 
ѱ
 Umer farooq Arshad, Student, Lahore Business School, the University of Lahore, (54000). Email  : umer_farooq_arshad@yahoo.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.
II.
 
L
ITERATURE
EVIEW
 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
T 
©2011 Global Journals Inc. (US)
of differentchannels.
  G  l o  b a  l   J o u r n a  l  o  f   C o m p u  t e r  S c  i e n c e a n  d  T e c  h n o  l o g y  V o  l u m e  X  I   I s s u e  X  V  I  I   V e r s  i o n  I 
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 Howcroft et al., (2002) found that the mostimportant factors encouraging consumers to use onlinebanking are lower fees followed by reducing paper workand human error, which subsequently minimize disputes(Kiang et al., 2000). It’s essential for the banks to havethe official bank website providing the possibility to dotransactions so that banks can be qualified as providingthe online banking services (Pikkarainen et al., 2004). According to Giglio (2002) and Robinson (2000) fordelivering banking products the cheapest deliverychannel can be done only through the Online Banking. According to Karjaluoto et al. (2002) with the help ofonline banking services, the branch networks of bankshave reduced and also the staff for working in banksand customers are satisfied to use the online bankingservices as it will save a lot of time and effort to go tobranch of bank and perform these transactions. So themain reason behind accepting the online banking aservice is the time, cost saving and freedom from theplace (Polatoglu and Ekin, 2001). Byers and Lederer, (2001) concluded that it waschanging consumer attitudes rather than bank coststructures that determines the changes in distributionchannels; they added that virtual banks can only beprofitable when the segment that prefers electronicmedia is approximately twice the size of the segmentpreferring street banks.  According to theorists (Walfried et al., 2005)customer evaluation of the electronic services isinfluenced by attributions of success and failure in interpersonal service situations. The use of electronicbanking has removed the banking personnel thatfacilitate the transactions and has placed additionalresponsibilities on the customers to transact with theservice. Although, electronic banking provides manyopportunities for the banks, it is also the case that thecurrent banking services provided through Internet arelimited due to security concerns, complexity andtechnological problems (Sathye, 1999: Mols, 1999)Hewer and Howcroft (1999) used the term trustto describe a measure of risk. Suganthi et al., (2001)viewed risk in the context of security concerns and riskin the context of trust in one’s bank. Finally, a number ofstudies found trust and perceived risks have asignificant positive influence on commitment(Bhattacherjee, 2002; Mukherjee and Nath, 2003) andultimately leads towards overall satisfaction (Rexha etal., 2003).
III.
 
M
ETHODOLOGY 
In this research data is conducted by usingquestionnaire as a data collection instrument, in whichquestions were asked starting from their command oncomputer and internet usage, following with theawareness of electronic banking and its types, about thebenefits of e-banking and then some questionsregarding their bank services and the security provideby these banks. The questionnaire includes close-endedquestions and they were on likert scale of utilizing a fivepoint categorical. Sample of 400 respondents wasselected to complete the research using simple randomsampling technique.
IV.
 
E
MPIRICAL
ESULTS 
There is “table 1” which shows gender wiseassociation with research questions: 
Table 1  
  Age association with research questions 
No. Question Gender Total P-values ale Female 
1  Aware of electronic banking 196 200 396 0.011 2  Your bank provides electronic banking facility 190 195 385 0.000 3  Aware of SMS banking 196 195 391 0.036 4  Aware of INTERNET banking 189 198 387 0.010 5  Aware of ATM card usage 193 198 391 0.054 6  Aware of PHONE banking 193 199 392 0.272 7 Satisfied with the E-banking services provide bybank 192 198 390 0.008 8 Satisfied with the security of E-banking provide bybank 191 195 386 0.068 9 Want to use e-banking facilities in future 194 197 391 0.000 
Table 1 shows the different questions and theirassociation with gender. First question is aboutawareness of electronic banking. Total respondents whoanswered this question were 396 in which 196 weremale respondents and 200 were female respondents. Itsresult shows that awareness of electronic banking isdependent on gender. Next question was answered by
© 2011 Global Journals Inc. (US)
385 total respondents from which the amount of maleand female were 190 and 195 respectively. Its resultsshow that providing e-banking services by banks were
  G  l o  b a  l   J o u r n a  l  o  f   C o m p u  t e r  S c  i e n c e a n  d  T e c  h n o  l o g y  V o  l u m e  X  I   I s s u e  X  V  I  I   V e r s  i o n  I 
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 Awareness of Electronic Banking In Pakistan

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