電子銀行外國文獻(xiàn)-

1、Recent trends and developments in e-banking in an underdeveloped nation an empirical studyJiaqin Yang* and Kh Tanveer AhmedInt. J. Electronic Finance, V ol. 3, No. 2, 20091 IntroductionE-business has been continuously growing as a new industry during the last decade (Van Hoeck, 2001. The banking ind

2、ustry has been leading this trend in recent years, and now all banking transactions completing through internet applications are sometimes called e-banking. Some key issues addressed in the recent literature about the e-banking include: customer acceptance and satisfaction, privacy concerns, profita

3、bility, operational risks, and competition from nonbanking institutions (Boss et al., 2000; Smith, 2006; Hwang et al., 2007; Shin, 2008.E-banking has revolutionized the way business is transacted by globalizing the business enterprise.E-banking technologies have proliferated in recent years, and the

4、 availability of a wide range of products has led to increasing adoption among consumers. These technologies include direct deposit, computer banking, stored value cards, and debit cards (Servon and Kaestner, 2008. Consumers are attracted to these technologies because of convenience, increasing ease

5、 of use, and in some instances cost savings (Anguelov et al., 2004. E-banking, in particular, has grown at impressive rates. Between 1995 and 2003, e-banking increased eightfold (Hogarth and Anguelov, 2004. Between late 2002 and early 2005, use of online banking increased 47%, a clear evidence that

6、e-banking is associated with better household financial management (Smith, 2006.All businesses, including small and medium scale industries, no matter their Geographical locations, are all beneficiaries of e-banking. It encompasses all kinds of commercial transaction that is conducted on an electron

7、ic medium, mostly through the internet. E-banking links business to customers no matter their geographical location. It allows companies to make new business contacts from different global business alliances, test new products and services, and make market research and other enquiries all at a minim

8、al cost both financial and otherwise (Shin, 2008.Smaller community banks, among others, are more interested in the application of e-banking to gain certain competitive edges over their larger counterparts (Yang et al., 2007. In addition to previous e-banking delivery systems, Automated Teller Machin

9、es (ATMs and telephone transaction processing centres, online banking provides banks a new and more efficient electronic delivery tool (References, 2000. While A TMs were first introduced in early 1980s and initially an attempt to reduce operating costs, telephone call centres were developed in the

10、1990s to handle simple transactions and provide added customer services from a remote location. E-banking has been viewed as an upgrading from previous electronic delivery systems to open new business opportunities for the banking industry (Ebbing, 2001.This paper describes an empirical study of inv

11、estigating recent trend and development of the application of e-banking (banking though internet in a typical developing country Bangladesh,and its economic impact on local financial institutions. Currently, Bangladesh is far behind in terms of e-banking development and applications. More specifical

12、ly, while it is a fact that currently many banks in Bangladesh have implemented e-banking services, however, comparing with most developed countries, the e-banking application in Bangladesh is only in its infancy stage and there is a huge gap to be fulfilled with new research and development effort.

13、 As such, addressing the current issues and challenges in the development of e-banking in Bangladesh is the primary motivation of this research.2 Literature reviewFor the past two decades, the banking sector has chosen a new service channel based on the progress of information technology internet to

14、 respond to the changes in customer preferences and needs, increasing competition from non-banks, changes in demographic and social trends, and government deregulations of the financial service sector (Byers and Leader, 2001. In the search for sustainable competitive advantages in the technological

15、financial service industry, banks have acknowledged the value to differentiate themselves from other financial institutions through new service distribution channels (Daniel, 1999. In addition, customers transaction and communication abilities have been improved by the developments of information te

16、chnology. Information technology enabled electronic channels to perform many banking functions that would traditionally be carried out over the counter (Giannakoudi, 1999. The rise of electronic payments media such as debit and credit cards has caused the value of cheques paid in the USA to fall to

17、from about $49 billion in 1995 to about $42 billion in 2002 (Gerdes and Walton, 2002. Furthermore, the use of paper cheques has been supplemented step-by-step with e-cheques (i.e., electronic images allowing banks to have more storage capacity, reduce costs, and improve customer services (Rose and H

18、udgins, 2005.Banks have traditionally been in the forefront of harnessing technology to improve their products and services. They have over the time been using electronic and telecommunication networks for delivering a wide range of value added products and services. The range of services and produc

19、ts offered by different banks vary widely both in their contents and sophistication. E-banking provides enormous benefits to consumers in terms of the ease and cost of transactions (Liu, 2008. However, it can be thought of as a service that allows customers to use some types of computers to access a

20、ccount-specific information and possibly conduct transactions from a remote location such as at home or at the workplace (Saleh and Andrea, 2002.The growth in e-banking with the increase in the range of interface options available to access online banking solutions has resulted in a steady increase

21、in the number of customers interacting through remote channels to a greater extent than before. In a climate of increasing online competition, banks that have chosen to retain extensive branch networks are re-aligning the roles of staff in these branches and moving towards a relationship-driven sale

22、s culture (Durkin, 2007. E-banking has been around for some time in the form of automated teller machine and telephone transactions. More recently, it has been transformed by the internet a new delivery channel that is fast, convenient, available round the clock, and from whatever the customers loca

23、tion (Saleh and Andrea, 2002. E-banking also can increase competition among banks, and allows banks to penetrate new markets and thus expand their geographical reach. Some even see e-banking as an opportunity for countries with underdeveloped financial systems to leapfrog intoadvanced stages (Gao an

24、d Owolabi, 2008. Customer in such countries can access services more easily from banks outside ones own country through wireless communication systems, which are developing more rapidly than traditiona l wired communication networks (Gao and Owolabi, 2008.A more recent e-banking development is wirel

25、ess internet applications of banking sometimes called m-banking (mobile banking (Choi et al., 2006; Scornavacca and Hoehle, 2007. With the combination of two most recent technological advancements internet and mobile phone, a new service (mobile data service is thus enabled and the first such wirele

26、ss internet commercial transaction is performed by the banking industry (Barnes and Corbitt, 2003. It is believed that m-banking will provide another new channel for banking services, especially for certain remote areas where online internet is still unavailable. Strategic implications and customer

27、perception of m-banking services are explored (Laukkanen and Lauronen, 2005 with a focus on the consumer value creation and a better understanding about the customer-perceived value of m-banking services. For instance, mobile internet service has been quite popular in Japan (over 60 millions users i

28、n 2003 especially for those young and single (i.e., unmarried consumers (Scornavacca and Barnes, 2004. A summarised literature review is described below.2.1 Electronic bankingElectronic distribution channels provide alternatives for faster delivery of banking services to a wider range of customers (

29、Kaleem and Ahmad, 2008. E-banking is the newest delivery channel of banking services. The definition of e-banking varies amongst researchers partially because e-banking refers to several types of services through whi ch a banks customers can request information and carry out most retail banking serv

30、ices via computer, television or mobile phone (Mols, 1998; Sathye, 1999. E-banking can also be defined as a variety of the following platforms: internet banking (or online bankingtelephone bankingTV-based bankingmobile phone bankingPC banking (or offline banking (Kolodinsky et al., 2004.Most of the

31、consumers who start banking online do it because they need to pay bills frequently and would like to do it with minimum effort. Besides that, people use the internet banking to keep an eye on their money matters, view their account balance and check receiving payments from other parties. E-banking t

32、echnologies can be classified as either passive oractive (Kolodinsky et al., 2004. Passive technologies such as direct deposit do not require behavioural changes on the part of the consumer. These innovations are therefore more easily spread to the mainstream. Active technologies on the other hand,

33、require new behaviour and are therefore more challenging to propagate (Servon and Kaestner, 2008. E-banking requires perhaps the most consumer involvement, as it requires the consumer to maintain and regularly interact with additional technology such as a computer and internet connection (Kolodinsky

34、 et al., 2004.2.2. Different forms of electronic bankingThe terms PC banking, online banking, internet banking, telephone banking ormobilebanking refer to a number of ways in wh ich customers can access their banks without having to be physically present at the bank branch. E-banking may be understo

35、od as a term that covers all these ways of banking business electronically (Leow and Bee, 1999:Tele-banking: Tele-banking service is provided by phone. To access an account it is required to dial a particular telephone number and there are several options of services.PC-banking: The increasing aware

36、ness of the importance of computer literacy has resulted in increasing use of personal comput ers through the entire world. The term PC-banking is used for banking business transacted from a customers PC, i.e., customers can use their personal computers at home or at their office to access their acc

37、ounts for transactions by subscribing to and d ialling into the banks intranet proprietary software system using password.Internet banking: Internet banking would free both bankers and customers of the need for proprietary software to carry on with their online banking transactions. Customer behavio

38、ur is changing rapidly. Now the financial service is characterised by individuality, independence of time and place and flexibility. These facts represent huge challenges for the financial service providers. So the internet is now considered to be a strategic weapon for them to satisfy the ever-chan

39、ging customers demand and innovative business needs.Mobile banking (m-banking: A more recent e-banking development is wireless internet applications of banking sometimes called m-banking. With the combination of internet and mobile phone, a new service (mobile data service is thus enabled and the fi

40、rst such wireless internet commercial transaction was performed by the banking industry (Barnes and Corbitt, 2003.Thornton and White (2001 compared several electronic distribution channels available for banks in the USA and concluded that customer orientation towards convenience, service, technology

41、, change, knowledge about computing and the internet affected the usage of different channels. Howcroft et al. (2002 found that the most important factors encouraging consumers to use online banking are lower fees, less paperwork, and reduced human errors, which subsequently minimise disputes. Recen

42、t research also suggests that increased use of online banking and bill paying can actually decrease the occurrence of identity theft by taking personal information outside the mailbox and eliminating a paper trail (Stafford, 2004. Gerrard and Cunningham (2003 found a positive correlation between con

43、venience and online banking and remarked that a primary benefit for the bank is cost saving and for the consumers a primary benefit is convenience.E-banking does not only encompass the way one shops over the internet, but also the ways one carries out banking transactions. This allowed customers, mo

44、re independence in the choice on where and when to bank. It is an obligation for banks to apply better strict security levels due to the many kinds of threats that are recently identified with these alternative channels (Smith, 2006. E-banking provides a number of advantages for both the banks and t

45、heir customers:It removes geographical limitations for small and medium size banks, thereby paving ways for international operation without limits.It has no time limitation, i.e., banking transactions may be performed throughout the day, week and from any place they can have access to the internet.I

46、t provides efficient cash management for interest optimisation.It provides convenience in terms of the capital, labour time and all the resources needed to make a transaction.It has assisted banks to increase in data collection, data management, and financial engineering that have improved the abili

47、ty of potential creditors to assess the creditworthiness of potential borrowers and to price the risk associated with those borrowers through standardised mechanisms such as credit scoring (Ziqi and Michael, 2003; Carlson et al., 2000.E-banking has emerged as a significant and rapidly growing compon

48、ent of the world economic exchange. Through e-banking the world economic exchange has been reduced to a tiny global village in terms of its information capacity and the resources it holds which can be accessed by anybody from anywhere in the globe (Hwang et al., 2007.There are several major challeng

49、es and issues facing the e-banking industry today. First, and perhaps most important is the security concern (Feinman et al., 1999; Ziqi and Michael, 2003. Customers are certainly concerned of giving their bank account information online or paying an invoice through internet. Another challenge facin

50、g e-banking industry and the e-business in general is the quality of delivery service including both delivery speed (i.e., Short advance time required in ordering and delivery reliability (i.e., delivery of items/services on time (Furst et al., 2000, which caused many e-business failures in the earl

51、ier era. Limited online payment options have resulted in many customers to drop out in the last stage of the purchasing process due to dissatisfaction and inconvenience. Finally, the issue of customer unfamiliarity with the internet, which is prominent among senior citizens, has recently caught some

52、 attention, because these customers believe that they are left at a disadvantageous position and become very reluctant in doing business online (Yang et al., 2007. Currently there are two different approaches in the e-banking industry: a separate (from its traditional office internet e-bank (i.e., v

53、irtual bank with all transactions being transacted online, or to add an online banking section to the services already being offered by its major bank office (Hackett, 2000; Hughes, 2003; Sweeney and Morrison, 2004.This paper describes an empirical study of investigating recent trend and development

54、 of the application of e-banking (banking through internet in a typical developing country Bangladesh one of the less-developed developing countries in the world. While the e-banking application has advanced significantly during recent years, especially in the developed nations and most emerging new

55、 economic power nations (like China, South Korea, etc., but in comparison, the development of e-banking application is way behind in many relatively poor and underdeveloped nations (like many nations in South Asia and Africa (Gao and Owolabi, 2008. Currently, Bangladesh is far behind in terms of e-b

56、anking development and applications, though many banks in Bangladesh have been implementing e-banking during recent years. It is believed that this is a typical underdeveloped country and its current e-banking application should be quite representative to other similar nations. The primary objective

57、s of this research are:to investigate the current state of e-banking development in Bangladeshto examine if the introduction of e-banking during last few years has improved the efficiency and effectiveness of the banks operationsto evaluate whether the implemented e-banking system has been able to h

58、elp in the curtailmentof fraud in commercial banks of Bangladesh to highlight the challenges and dilemmas that the e-banking system is currently facing in Bangladesh. 3 Research methodology The original data for this research are collected through a comprehensive web-based questionnaire survey (see

59、Appendix, as well as some interviews with several bankers from selected banks in Bangladesh. As shown in Appendix, the questionnaire items are designed to capture bankers perceptions regarding e-banking, demographic features, strategic considerations, operating issues, its effects on banks, customer-bank relationships, technology considerations, and services offered through e-banking system. This study focuses on the effect of e-bankin