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Consumer Perspectives on Internet Banking

Research report

Project title

Some[MG2] problems about internet banking and consumers perspectives on internet banking[MG3].


Similar to the adopting of automatic teller machine, pay attention to economics change , coupled with advancements in technology, banks begin to think their use of traditional branches again and are looking at online banking services as the next new technology to reduce costs while maintaining or enhancing services to the customer[MG4]. However, whether all of people want to use internet banking[MG5]. A series of factors, such as the security of personal data, the difficult of using the internet and others are sure to play an important role in consumer’s attitude to internet banking. In this paper[MG6], i try to investigate the factors that affect an individual’s decisions to use online services and some problems that internet banking[MG7] has met by far.

Critical Review of literature

Security for internet banking[MG8]

While it is acknowledged that Australian banks have a great record related to security of customer information, surveys shows that individual who using internet banking are weary about privacy issues such as data or code collected by hackers, whether personal information could be disclosure and use. Therefore, security is a big issue and it should be focus on. And haw to solve decrease the risk of security?

According to NOIE[MG9], the security protections offered by banks and which customers participate should include

  1. careful reference to their Web sites in their publication
  2. Verification by the use of digital certificate
  3. Evidence of security protection displayed on the screen
  4. Protections of PINs and passwords
  5. On-screen and mouse operated keypads for sensitive information
  6. Virus protection
  7. At least 128-bin encryption
  8. Firewall implementation
  9. Stated limits to customer liability for unauthorised use of access codes

In fact, the security framework has been investigated[MG10].

According to Labuschange[MG11], a developed framework for security is consists of a defined six-step process.

Step1. List all the security requirements for an internet banking environment in general.

Step2. Identify all participants and stakeholders involved in the internet banking process.

Step3. Break down transaction into different autonomous actions.

Step4. Map these identified actions on to the participants involved, which serve as o model for the internet banking.

Step5. Use the information obtained in step 4 to determine the security requirements for a secure internet banking environment.

Step6. Use these security requirements to develop the security architecture, comprising suitable security procedures, mechanisms and policy[MG12].

And it also[MG13] says Internet banking including three main areas of security which are the the user’s computer, banks and the internet ,

Actually, i think mobile should also put into because nowadays , mobile phone is also a functional devices which can also conduct many applications including e-banking. And many hackers have transfer their attention to the mobile[MG14].

Individual’s perspectives on internet banking

Above all, we can see that the security of internet play an important role on people’s decision to choose internet banking. However, if it is the most important reason which affect people to use internet banking and if people still trust internet banking[MG15].

Actually, the following table embedded within the trust model can ensure the perspective of an individual about the issue of trust .


On the other hand, some studies have[MG17] investigated other factors why individuals select a specific bank. Important consumer selection factors include convenience, service facilities, reputation and interest rates. According to Delvin[MG18] , customers spend less time on activities such as go to a bank and therefore they want more convenience and accessibility.

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According to International Journal of Customer Studies, although the Internet is becoming more and more popular, it is still a new products to which lead to distrust by customers. It has six hypotheses of the customer’s attitude to internet banking.

H1.speed of transaction of electronic delivery channels provides a competitive advantage for them

H2. Difficulties in the use of the new technology prevent some customers from using it.

H3. Many people believe that the traditional banking system work well and therefore the online presence of the bank is characterized as not necessary.

H4.Internet banking costs include those associated with Internet as well as bank costs and charges. Cost influences consumers’ attitudes towards electronic services.

H5. People who use electronic banking services have a higher education level than others. Education may be another factor that is characterized as important in a customer’s decision to use or not to use online services.

H6. Many people complain about the lack of information concerning the new electronic channels that financial institutions use today.

In conclusion, it identified that the most significant factors that affect the customers’ decisions are security, individual’s age, the difficulties of using internet, the lack of information concerning products and services provide to customers. Factors such as the speed of transactions or the cost of using the internet have little impact on an individual’s decision.

Actually, with the development of technology, the use of internet is no longer a problem, as increasing number of people own their pc and start to use computer and internet. In addition, the information which can provide to customers by electrical channels such as email or message.


I will use data collection[MG19] to analysis why people choose internet or not use it and i will do a survey research because this kind of research is determined as the systematic collection of data in order to explain or forecast the behaviours and decisions of a certain population.

Furthermore, i will use a generalized regression model and tried to estimate the probability of an individual using or not using internet banking. This kind of methodology is to determine the important factors that affect an individual’s decision to use or not to use internet banking.

Research plan[MG20]




January 16th 2015
CHAPTER3 METHODOLOGY February 1st 2015


Department of Management Science & Technology, Management Sciences Laboratory, Athens University of Economics & Business, Athens, Greece,2006

Bomil, S. & Ingoo, H. (2002) Effect of trust on customer acceptance of Internet banking. Electronic Commerce Research and Applications, 1, 247–263.

Dobson, A. (2002) An Introduction to Generalized Linear

Models, 2nd edn. Chapman & Hall, London.

Kambil, A., Kamis, M., Koufaris, M. & Lucas, C.H. (2000) Influences on the corporate adoption of web technology

Damien HutchinsonMatthew Warren, (2003),”Security for Internet banking: a framework”, Logistics Information Management, Vol. 16 Iss 1 pp. 64 – 73

Understanding Security in Consumer Adoption of Internet Banking 293-306. [CrossRef]

Normalini M. K., T. RamayahUnderstanding Security in Consumer Adoption of Internet Banking: 685-698. [CrossRef]

[MG1]Your title is very vague. Need to make it more focused.

Your introduction is very vague. What is your main question?

In your literature section. You are just listing different studies. Need to make some links and also why you have chosen them.

Need to work on your writing skills.

Learn Harvard method of referencing.

Try to look at the examples that Tesfa has left on your course’s Moodle site.

[MG2]Need to be more specific. Issues and concerns with internet baking …..

[MG3]Which country, what is your time period

[MG4]Your first sentence is very long and confusing. Break it down to at least two sentences and clearly state what you intend to say. You are talking about the background?



[MG7]which country and where. If you are looking at consumer behavior then it does vary from country to country; location to location; and different groups.

[MG8]It would be better to state which range of theories or models you are going to look at, then try to develop different components such as security and others.

[MG9]Publication date – Need to use Harvard in-text referencing.

[MG10]Incomplete, not clear what you mean

[MG11]Year of publication

[MG12]Why have you used these two models/theories? How would they help you?

[MG13]Who says?

[MG14]This section is very confusing and muddled. It looks as if you can just copied a section from a textbook. You need to link it to your research question.


[MG16]where is the source? Very poor referencing.

[MG17]Name them

[MG18]Year of publication

[MG19]This doesn’t make sense. Don’t just copy from textbooks.

[MG20]Where is your word count?

[MG21]Learn to use Harvard method/style of referencing


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