Group 4

Umesh Gangwani
Suraj Mishra
Amit Pandey

IMPROVING BUSINESS Shashikiran Krishnadas

Nishad Shringarpure

ACTIVITIES Anshuman Sharan

Under Guidance of
Prof. Hitesh Kalro
THE ONLINE BANKING SURVEY
PURPOSE
o Is Security Risk outweighing a customer preference or
satisfaction for online banking?
o Any other factor Website, Communication, Efficiency ?
METHODOLOGY & RESEARCH APPROACH
o Quantitative Research Approach in order to capture the
data of large sample and different type of questions
were used in order to do market research
o Likert Scale was used to understand the rating for the
online banking service
o Very Satisfied 7; Desired Level 6; Zone of Tolerance
3 to 5; Adequate Level 2, Dissatisfied - 1
THE QUESTIONNAIRE SERVICE PERFORMANCE
o How satisfied are you with the online banking facility?
o How secure do you feel while using online banking?
o Does the bank respect your privacy when transacting?
o How would you rate delivery of services/product requested from the bank?
THE QUESTIONNAIRE WEBSITE AESTHETICS
o Do you find the website aesthetically attractive?
o Do you find the website easy and simple to use?
o How would you rate the availability of the website?
o How easy is it to find the information you require?
THE QUESTIONNAIRE - EFFICIENCY
o How would you rate the time taken to complete a transaction online?
o How would you rate the accuracy of your account information online
o How would you rate the accuracy of information on products and
services available online?
o How quick is your bank in resolution of queries faced during online banking?
THE QUESTIONNAIRE - COMMUNICATION
o How would you rate the knowledge on products / services of the online
support?
o How often are you satisfied with the response from online support?
DATA COLLECTION
Questionnaire was created on google
docs, which was circulated to random
sample selected through WhatsApp,
Facebook, mail.
Online Survey form
https://docs.google.com/forms/d/e/
1FAIpQLSc5PuTJ4PusqPc0COuQ5Pk0
RX3n6RMrof9wLcBdMxyI7rJO1g/vie
wform?usp=sf_link
129 Responses captured
THE RESPONDENTS
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THE RESPONDENTS
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FREQUENCY ANALYSIS
FACTOR ANALYSIS
COMPONENT MATRIX
Initial Extraction Initial Extraction Initial Extraction

Extraction Method Principal Component Analysis

RELIABILITY ANALYSIS
ITEM-TOTAL STATISTICS
ITEM-TOTAL STATISTICS
ITEM-TOTAL STATISTICS
REGRESSION ANALYSIS
SECURITY VS SATISFACTION
How secure do you feel while using online banking vs Satisfaction
SERVICE PERFORMANCE VS SATISFACTION
WEBSITE AESTHETICS VS SATISFACTION
EFFICIENCY VS SATISFACTION
COMMUNICATION VS SATISFACTION
CLUSTER ANALYSIS
(SEGMENTATION)
LENGTH OF RELATIONSHIP
FREQUENCY OF TRANSACTION
GENDER
SUGGESTED SEGMENTS
Newbies Promising Power Users
< 2 transactions per month 3-5 transactions per month > 5 transactions per month
<12 months <12 months <12 months
(5%) (1%) (2%)

Target Promising Power Users

< 2 transactions per month 3-5 transactions per month > 5 transactions per month
1-3 Years 1-3 Years 1-3 Years
(4%) (9%) (7%)

Dormant Target Power Users

< 2 transactions per month 3-5 transactions per month > 5 transactions per month
> 3 years > 3 years > 3 years
(7%) (22%) (43%)
 ADVICE FOR
IMPROVING BUSINESS
ACTIVITY
ONLINE BANKING
BANKS SHOULD CONCENTRATE ON
o Privacy is most important concern for customers as per the findings of Factor Analysis. The
banks should focus on educating customers about privacy policies, make it easier for customers
to control their privacy settings.
o Security is the second influencing factor and concern for online banking satisfaction.
o Improve the time taken to to complete a transaction (Efficiency)
o Provide accurate information on Accounts, Products and Service (Efficiency)
o Further investigation is required to investigate the following factors
o Improve the delivery of services and products requested from Bank
o Make it easy to find information
o Provide quick resolution of queries faced during online Banking

o Real-time Communication is the least influencing factor with knowledgeable staff

BANKS SHOULD CONCENTRATE ON
o Conduct focus group Interviews with Target Segments to understand their needs
and concerns
o Provide incentives to Promising Segments
o Have a different strategy for Female Customers understand their aesthetic,
information and responsiveness requirements
o Communication is the key concern for people who conduct 3-5 transaction per
month, and perhaps it is the limiting factor limiting their movement to conduct more
than 5 transactions per month.
ANY QUESTIONS
ADDITIONAL
MATERIALS
THE RESPONDENTS
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