The concept of e-banking includes all types of banking activities performed through electronic networks. Islam and Yang 2009 observed that service quality satisfaction and informational trust had important mediating effects on the Balance score card performance process. The day after tomorrow bank will report to the particular authority to give acknowledgement on behalf of their customer. Clicking the branch names will show you branch information directly. Now, in Bangladesh more than 50 scheduled Banks are operating their activities to serve customers. All the customers of the bank can enjoy online banking facilities.
A lots of paperwork and manual work has been eliminated with the introduction of e-banking services, which reduces the chance of errors. Online banking services have grown from simply allowing customers to check balances, to trading assets. The Automation focus on this instrument is to reduce the number of clearing days and improve on security arrangement in the course of settlement and collection. The paper discussed the strategic implications of the research findings. So it is an important opportunity for the students to know about the field of business through the internship program. Subsequently, all the branches were brought under similar automated platforms with upgraded software applications to offer all the critical banking features.
Some customers mentioned that in case of balance transfer to some branches of the bank out of Dhaka city, the bank takes a online charge, it should be free. This information was gathered from their websites and brochures and compared with what was gathered from the interview with bank staffs and what customers confirmed they received from online banking. This raises policy issues concerning security and potential anti competitive effects as firms integrate their operations more closely. Today the people are getting more technology conscious. In order to realize stronger growth the company may seek to sell their products in other countries where Potential Customers may be quite high. Since banking is a both way game satisfaction is only possible when there is a better relationship existing between parties; the bankers and the customers coupled with efficiency in the provision of services. The main objectives of the study are to evaluate the customer expectations in term of online banking, their problems with online banking, etc.
After learning some work I gave some customer services. This has also enabled the Bank to offer new products and services and to strengthen its competitive position in offering existing payment services. Mohammad Abdullah Managing Director 02. It indicated already that the essence of online banking increase customer value. Online banking will require less manual workers. Subsequently, all the branches were brought under similar automated platforms with upgraded software applications to offer all the critical banking features.
Customers can enjoy credit facility at lower interest rate of 2% per month. Zaitun Sayef Deputy Managing Director 04. Online banking Online banking is the practice of making bank transactions via the Internet. Tanim Noman Sattar Honourable Independent Director 10. I found that many customer want more online services to save their time and cost. The bank will manually service this request.
It has been made possible by technology, particularly information technology to generate, collect and process information about bank operation and bank customers efficiently and effectively. They like to feel their money with their hand. Both the bank and its customer save more time and cost, and in addition, they save more man-hour for the bank. Inter-bank transactions or transaction between inter bank branches are yet to expand. Since e-banking offers some smart services benefiting both banks and customers compared with traditional banking system, it has become imperative to make necessary room for the scheduled banks to flourish e- banking. Although this second set of research introduces some critical issues, it is too vague about what exactly is meant by electronic money and banking. Overview of the organization I.
Despite huge potential, telebanking services have not been widened enough in daily banking activities in Bangladesh. Arastoo Khan Honourable Director 13. Within this rather narrow scope for online banking and electronic money, there are nonetheless many research that address one or more of the challenges facing it. All these technology based products and services have obviously unlocked the way to step toward e-banking. Comprehensive data related to manual and traditional banking system is unavailable. With the help of e-business the country an create opportunities as this will help both producers and customers. Users of online banking services can access their account information from anywhere in the world! Therefore, the customer service will improve.
Among others, attractiveness of e-banking includes:? Goodhart 2000 discusses how monetary control would work in an economy in which Central Bank currency has been partially or completely replaced by electronic substitutes. They also focused on the time and cost saving advantage of online services. Also the system allows transfer of one value to the other hence it operates like cash. We also saw in case of online banking the main challenge is to make sure the savings from online banking technology more than the costs and risks associated with conducting business in cyberspace. E-banking includes activities like payment of bills and invoices, transfer of funds between accounts, applying for a loan, payment of loan installments, sending funds to third parties via emails or internet connections regardless of where the client is located. Frequency of Usage of E-banking Services by the Respondents Among the respondents, 9 customers use e-banking services highly frequently; 13 of them use with medium frequency and 8 of them use with low frequency.
Wu et al 2006 strongly suggest from their findings that online banking will prove disruptive to traditional banking and therefore core competencies and new ways of serving the customer must be developed. The history of Online banking has evolved from simply allowing customers to check balances online, to now being able to trade stocks and bonds from the comfort of their own home! Other organizations may view someone as an Existing Customer even though they have not purchased in the last few years e. This will enhance effectiveness and stimulate an all inclusive analysis and discussions of critical issue in relation to the topic under consideration. Classic cards are for lower limits and less costly. The factors that satisfy the customers in receiving e-banking facilities offered by the bank;? Bank provides necessary funds for executing various programs in the process of economic development. Here, customer can do account transaction, balance enquiry etc.
The Bank has taken up a new project with Misys International Banking System Inc. Of course, cash is a non-electronic payment method. However, all the transactions are to be authorized by the system electronically. Online Banking Profitability and Efficiency Commercial Bank assaulted by the pressure of globalization, competition from non-banking news ways to add value to the services. Each and every chapter discusses each and every aspect of the paper. Conclusion Customer satisfaction is required for the banking sector to raise profitability, business growth and success. The bank should make the services more convenient to the customers.