DISSERTATION

on
A STUDY ON CUSTOMER SATISFACTION IN E-BANKING
By

ADITI JAIN
03/PGDM(IB)/KJ/2021
PGDM-IB (2021 – 2023)

Under the Supervision of

Ms. Tanuja Puri
(Assistant Professor)

In Partial Fulfilment of the Requirements for the Degree of

PGDM-IB

at

Jagannath International Management School

MOR, Pocket-105, Kalkaji, New Delhi-110019
(Approved by All India Council for Technical Education (AICTE), AIU Accredited by NBA
and SAQS)
 TABLE OF CONTENTS
1 Declaration 1
2 Certificate of Originality 2
3 Acknowledgement 3
4 Executive Summary 4
Chapter 1: Introduction 5
1.1 Introduction to the study
1.2 Key Definitions
1.3 Context of the Study
1.4 Historical developments
1.5 Significance of the Study
1.6 Problem Statement
1.7 Summary
5 Chapter 2: Review of the Literature 14
Chapter 3: Research Methods and Procedures 29
3.1 Purpose of the Study
3.2 Research Design
3.3 Sampling & Data Collection
3.4 Sampling Design & Sampling Technique
6 Chapter 4: Data Interpretation and Findings 32
7 Chapter 5: Conclusions, Recommendation & Limitations 38
8 References 41
9 Plagiarism Report 42
 DECLARATION

Title of Dissertation: A STUDY ON CUSTOMER SATISFACTION IN E-BANKING

I declare
(a)That the work presented for assessment in this Dissertation Report is my own, that it has
not previously been presented for another assessment and that my debts (for words, data,
arguments, and ideas) have been appropriately acknowledged.

(b)That the work conforms to the guidelines for presentation and style set out in the relevant
documentation.

Date : ……………

Aditi Jain
03/PGDM(IB)/KJ/2021

1
 CERTIFICATE OF ORIGINALITY

This is to certify that the dissertation Project Report Titled “A STUDY ON CUSTOMER
SATISFACTION IN E-BANKING” Submitted to Jagannath International Management
School - KALAKJI, New Delhi in partial fulfilment of the requirement for the award of the
PGDM-IB is an original work carried out by “Aditi Jain” under the guidance of “Ms. Tanuja
Puri” To the best of Project guide’s knowledge and belief the matter embodied in this project
is genuine work done by the student and has been submitted neither to this University nor to
any other University for the fulfilment of the requirement of the course of study.

The student consulted me while doing this Final Research Project.

Extent of Plagiarism: ________%

Ms. Tanuja Puri

(Assistant Professor)

2
 ACKNOWLEDGEMENT

I would take this opportunity to acknowledge & express my gratitude to everyone who rendered
their valuable aid for the successful completion of this Dissertation Project titled

I would also like to thank our Director, Dr Anuj Verma, for providing me with this wonderful
opportunity to work on a project. It was a great learning experience.

I would like to convey my heartfelt gratitude to my Faculty Guide, Ms. Tanuja Puri for her
tremendous support, time, efforts, and assistance in the completion of my project. The project
would not have been successful without her cooperation & inputs.
The completion of the project would not have been possible without their help and insights

3
 EXECUTIVE SUMMARY

This essay aims to further satisfaction research from the viewpoint of people who use online
banking. Consequently, the goal of this study is to identify and analyse the variables that affect
customers' happiness with Internet banking. 50 respondents who took part in the study and
completed a questionnaire survey have given insightful comments and answers on the elements
that affect customers' decisions to utilise Internet banking. The findings of this study
demonstrated a strong correlation between consumer satisfaction with Internet banking and
online design, content, and speed.

The current study aims to investigate consumer satisfaction in online banking in India using
the deconstructed theory of planned behaviour (DTPB) and technology acceptance model
(TAM) as its foundations. The goal of this study is to evaluate the Indian online banking e-
service quality and its connection to client satisfaction. In order to gauge how satisfied
consumers are with online banking on the established e-service quality dimensions, this study
intends to investigate the essential elements affecting the e-service quality of internet banking
in India.

The dimensions of online banking were determined using exploratory and confirmatory factor
analysis. The association between e-service quality parameters and online banking customer
satisfaction was investigated using multiple regression analysis. Three aspects of e-service
quality were identified by the study: responsiveness, efficiency, and perceived credibility. The
study also discovered a link between consumer satisfaction with online banking and the aspects
of e-service quality. Banks may make use of these data to raise the level of customer
satisfaction and service quality for their online banking services.

4
 Chapter-1
Introduction

5
 Chapter-1 Introduction

In comparison to traditional brick-and-mortar banking operations, the service delivery

procedure for online banking, in which the consumer interacts with the bank's website, is
extremely dissimilar. It has changed the conventional "brick-and-mortar" strategy into a "click-
and-mortar" one by enabling clients to check transaction details, transfer cash, pay utility bills,
or purchase online. In 1996, ICICI Bank became the first bank in India to provide online
banking.

In order to satisfy consumer expectations, stay competitive, cut costs, and improve customer
convenience, banks are utilising a variety of communications technologies via the Internet to
provide a wide range of services to its clients. Both in rich and emerging nations, internet
banking grew rapidly, revolutionising the financial industry. Customers can get banking
services through internet banking without going to a bank location. It uses the Internet as the
delivery route to give its clients financial goods, and is also known as e-banking or online
banking.

According to a recent global poll of 2,899 people done by Finder in April 2022, 26% of
respondents in India now have a digital bank account. A further 12% want to open one during
the upcoming 12 months, increasing the overall share of Indians having digital bank accounts
to 39%. By the end of 2027, that percentage is predicted to increase even further, reaching
46%. According to studies, the Indian digital banking platform market had revenues of $776.7
million in 2021 and is projected to increase at a CAGR of 9.8% to reach $1485.5 million by
2028.

Everyone now uses more digital-based platforms as a result of the widespread digitalization
across sectors brought on by the COVID-19 pandemic. Customers were further tempted to
utilise them by the simpler payments, specialised help, and quicker turnaround times that
resulted from this. India has one of the largest markets for smartphones as well. Low internet
costs have only increased the use of digital platforms and mobile apps for work-related
purposes.

These vital drivers of development serve as the foundation for Indian banking's digital
revolution:

 Banks establish a strong foundation for trust by employing consumer awareness. They
have a consumer base and a variety of digital channels since they are a brand.

6
  Financial services already in place have increased the leverage of their holdings.
 In their commercial services, banks provide distinctive and appealing value
propositions, own 100% automated tech stacks, and post outstanding digital
performance supported by staff agility.
 Data and analytics are essential to marketing and credit.
 In the banking industry, risk management in digital banking is more rigorous and
accountable.
 Higher levels of sustainable development & financial inclusion.
 Competition from FinTech players.

SWOT Analysis of E-Banking in India

STRENGTHS WEAKNESS OPPORTUNITIES THREATS
 Offers superior & user-  Complexity in  India holds immense  Security
friendly technology online transactions. potential for market Concerns
expansion in Internet
 Anywhere-anytime  There is a 'digital Banking.  High transaction
banking. Instant divide' costs for banks
information is  With demographic if their
available to users  The confidentiality changes in terms of customers do
and integrity of income levels, rising not often
 No physical handling data and standards of living, transact online
and storage of paper information over smartphones & internet because huge
instruments internet is still a penetration, demand for investment goes
major concern in mobile banking has into the setting
 Low cost of online India. increased. up of Internet
transactions banking
 Ineffective  Large untapped rural systems.
 Competition from maintenance of market in India
foreign banks has led technological  The legal and
to creation of infrastructure  Neo banks have started regulatory
innovative products to partner with banks framework
and services such as e- that are under the suffers some
wallet, plastic cards, purview of RBI to offer loopholes which
online transaction better banking solutions. lead to frauds.
history, buying and
selling shares/ Mutual  Advancement in current  Lack of
funds online, Renewal/ IT base to avoid system customer loyalty
premature closure of failures and provide
FD/ RD, Bills efficient and secure
Payment, Convert to platform for online
EMI, Online loans, transactions & Safe and
Online tax payments, secure payment
etc. gateways.

 Faster response to  Financial Inclusion

customer queries and
complaints. Better
CRM.

 Improved
management,
transparency, and
accountability.

7
 Multi-folds growth in
the business of
banking sector

 With development in
technology, banks are
reaching more and
more remote locations
in the country.

 Strong Regulatory
Institutional
Framework
constituting RBI, IT
Act, 2000, Banking
regulations Act, etc.

1.1 Introduction to the study

The banking industry now has a new facet as a result of the transition from manual ledger
systems to systemized procedures and the introduction of internet-based facilities. During the
past several years, the rivalry in the banking industry has increased. In order to remain
competitive, banks are embracing cutting-edge technologies and approaches to increase client
happiness and retention.

The term "electronic banking," which is referred to as "online," "cyber," and "virtual banking,"
enables users of this platform to do various financial operations, such as account analysis and
transaction execution, at any time and from any location. E-banking facilitates the online
exchange of real money for the purchase and sale of products and services. A consumer may
do any banking transaction with a single mouse click. The introduction of E-banking enables
physical form of currency transitioning to cashless, digital, and electronic money.

Numerous scholars and industry professionals have stated that the use of cutting-edge
information and communication technologies may improve service quality (ICT). ICT is now
used by practically all banks to improve the quality of their services. They offer ICT-based e-
services to its clients, such as e-banking, internet banking, and online banking, among others.
It increases consumer happiness with financial services by bringing coercion, client centricity,
improved service quality, and cost effectiveness. The features of modern online banking, the
speed of internet connectivity, and the frequency of e-banking usage all affect how e-banking
develops in each nation. E-banking in the banking sector is created when information
technology is used with bank and financial institution operations.

8
The banking sector has been quickly advancing the usage of Internet banking as a useful and
practical instrument to add value for customers. The biggest issue with Internet banking,
however, is that a sizable portion of bank clients are unwilling to use the services that are
provided. This occurred as a result of clients' unsatisfied needs with Internet banking services.

Customers’ satisfaction plays a key role in helping banks maintain their competitive
advantages. Customers that use internet banking benefit from convenience and are encouraged
to use the banking website to complete transactions more quickly and simply. The banks can
lower their operational expenses thanks to internet banking.

1.2 Key Definitions

E-Banking: The automated provision of new and conventional banking goods and services to
consumers directly through electronic, interactive communication channels is referred to as e-
banking. E-banking is of utmost importance in satisfying consumer expectations. Internet
banking is an electronic payment system that allows users of financial institutions, such as retail
banks, virtual banks, credit unions, or building societies, to make financial transactions via a
website run by the institution. Efficiency, System Availability, Fulfilment, Privacy, Contact,
Responsiveness, and Website Design are all parts of e-banking services. With the use of net
banking, money may be moved between accounts in three distinct ways: NEFT, RTGS, and
IMPS. Internet banking, mobile banking, ATMs, debit cards, direct deposits, and withdrawals,
pay by phone systems, and point-of-sale transfer terminals are popular types of e-banking
services in India. Telephone Banking, Electronic Clearing Cards, Bill Payment, Shopping,
Smart Cards, Funds Transfer, Telebanking, Investing, Insurance, Electronic Clearing Services,
Demat Accounts, Account Statements, etc. are a few of the services offered by E-banking in
India

 Efficiency: Quickness and ease with which a site may be accessed and used.
 Fulfilment: The degree to which the website complies with its claims about order
delivery and item availability.
 System availability: The website's seamless technical operation.
 Privacy: How well the website safeguards and safeguards user data. To avoid the risk
of cybercrimes, banks are introducing biometric technologies (e.g., fingerprint and
facial recognition) to enhance security.
 Responsiveness: Effective problem and return handling through the website
 Website design refers to how simple it is to use and navigate the site.

9
  Contact: The ability to reach a representative by phone or online.

Customer satisfaction (CSAT): A metric used to express how satisfied a client is with your
company's goods, services, or experiences. This indicator is determined by customer
satisfaction surveys, which elicit responses ranging from "very dissatisfied" to "extremely
happy" on the client's experience. Customer satisfaction is a phenomenon that is significant in
the assessment process of a consumer's buying, consumption, or use of a product or service,
and is thus essential in determining long-term consumer responses. Wang and Liao describe
customer satisfaction as the total effective response of varying intensity that follows mobile
transaction ecosystems, this manipulated by known variables such as information quality,
system quality, and service quality. One of the most crucial competitive variables and the
strongest predictor of a company's success is customer contentment. Customer satisfaction will
also encourage businesses to strengthen their brand and image, lower customer churn, and pay
more attention to the demands of their clients.

Service Quality: A gauge of how well a company meets the requirements and expectations of
its customers. Any firm can expand if it can figure out how to raise the quality of its services
and products. It is well acknowledged that maintaining competitive advantage and maintaining
happy customer relationships depend heavily on service quality. One of the elements
influencing consumers' assessments of customer happiness is service quality. Because a
consumer may access a range of financial transactions through online banking, service quality
on banking websites may increase customer satisfaction. They discovered that the important
elements affecting consumer satisfaction with the e-banking service in the e-service quality
dimension were effectiveness, interaction, security, information, convenience of use, and
content.

Brand Perception: A consumer's sentiments, experiences, and opinions about a good or service
are all combined to form their brand perception. Instead of what a brand claims to represent, it
is what consumers think the brand stands for.

Perceived Value: A customer's opinion of the merits or attractiveness of a good or service,

particularly in comparison to that of a rival, is known as perceived value. The cost that
consumers are prepared to pay for a commodity or service serves as a proxy for perceived
value.

Knowledge about Services. The degree to which a consumer is aware of the bank's online
banking services is known as awareness of service. The amount of information a consumer
receives has an impact on their degree of awareness (Al-Shomali, Gholami, & Clegg, 2008).

10
The notion of online banking might be beneficial for banks if they can develop user-friendly
websites with the level of protection clients need (Smith, 2006). Customers who are aware that
banks provide online banking services are more likely to utilise them and recognise the
convenience, time, cost, and financial benefits of doing so.

1.3 Context of the Study

A scale to rate the quality of e-services was required when traditional service delivery channels
gave way to electronic ones. The scale was based on twelve factors, including interaction,
reaction time, trust, responsiveness, design, intuitiveness, visual appeal, innovativeness, flow,
emotional appeal, integrated communication, business processes, and substitutability. The
researchers have attempted to quantify service quality in online banking using the traditional
e-service quality methods.

1.4 Historical Developments

According to a survey conducted on online payments in India in 2020, 31 percent of the
households stated that they had mobile banking apps in their smartphones

Internet banking is an invention, and some of the models are the "Theory of Reasoned Action"
(TRA), "Theory of Planned Behaviour," (TPB) and Davis's Technological Acceptance Model
(TAM) from 1986. Among all, TAM is the best (Chau & Hu, 2002). In addition, the current
study makes use of the deconstructed Theory of Planned Behaviour (DTPB) (Taylor & Todd,
1995). One of Ajzen and Fishbein's TRA's most important expansions is TAM, developed by
Fred Davis and Richard Bagozzi (Bagozzi, Davis, & Warshaw, 1992; Davis, 1989). The two
technological acceptance measures, namely ease of use and utility, replace many of TRA's
attitude measurements. The TAM is a theory of information systems that simulates how
consumers adopt and use a technology. The TAM asserts that "perceived ease of use" and
"perceived utility" components are crucial in deciding whether different IT is accepted and
used. This study proposes 'perceived credibility' as a new component that reflects the user's
security and privacy concerns in the acceptance of Internet banking, using the TAM as a
theoretical framework. It also looks at how computer self-efficacy affects the desire to utilise
online banking. By perceived utility, perceived credibility, and perceived ease of use, the
computer influences self-efficacy on behavioural intention.

11
Taylor and Todd (1995) proposed the DTPB after dissecting the TPB's attitude, subjective
standards, and perceived behavioural control. The DTPB combines the behavioural dimensions
from TPB (Ajzen, 1991), subjective norm (i.e., social influence), and perceived behavioural
control with the attitude dimensions from TAM, such as perceived usefulness and perceived
ease of use, by breaking them down into more precise salient belief dimensions, such as peer
influence, supervisor's influence, self-efficacy, resource-facilitating conditions, and
technology-facilitating conditions. According to available empirical data, perceived danger,
computer effectiveness, relative utility, and image all had a major influence on people's
decision to continue using Internet banking (Botelho, 2007; Lu, Lai, & Cheng, 2006).

The approach to satisfaction is based on two criteria: a "conceptual" criterion that defines
satisfaction through processes and/or types of consumer responses; and a "referential" criterion
that reflects aspects of the situation in which these processes and/or responses occur. These
criteria were first proposed by Giese and Cote in 2000 and later modified by Moliner in 2004.

1.5 Significance of the Study

This study assesses the key variables (such as service quality, brand perception, and perceived
value) that have an impact on consumers' happiness in the context of e-banking services. This
study assesses the impact of service quality on e-banking brand perception, perceived value,
and customer satisfaction. The goal of this study is to demonstrate the connection between e-
banking satisfaction and its key drivers. A reliable and frugal behavioural model that includes
several factors that the banks view as determining an operative nature expresses the
interactions. This is a crucial issue for all financial institutions in this new market where there
are fewer traditional channels available due to financial limitations and client preferences
expressed based on culture, leaving alternative channels as the obvious route to preserving
relationships, profitability, securing customer loyalty, and luring new customers. Given the
present social and economic situation in the financial industry, which directly impacts bank
clients, this is a topic of tremendous interest.

Regarding the first set of definitions, which responds to the “conceptual” criterion, three
approaches can be taken: the evaluation process, which is understood as a process of evaluating
certain variables (product performance, needs and expectations); the cognitive response, which
is the result of a consumption experience that is manifested as a consequence of an evaluation
or the cognitive comparison of variables (expectations and performance, efforts and rewards,

12
etc.) versus the affective response, which is a result of the consumption experience manifested
as the affective comparison of variables (happiness, surprise or displeasure); and the process
of evaluation and affective response, which is expressed as satisfaction linked to both cognitive
judgements and affective reactions resulting from acquisition, consumption or use.

1.6 Problem Statement

Customers' expectations and actual perceptions of service quality, brand perception, and
perceived value in e-banking may differ slightly. Thus, this study is being conducted to
pinpoint the key variables influencing consumer satisfaction with e-banking in the Indian
context. The aim is to assess the impact of service quality, brand perception and perceived
value on customer’s satisfaction in E-banking. The study broadens and promotes a growing
relationship between consumer pleasure and contemporary technological offerings. Due to the
extensive use of internet technology, the whole financial system has transformed in the modern
day. Many facets of the economy today, including trade, commerce, import and export, as well
as the buying and selling of items, rely on computerised banking services.

1.7 Summary
It is established that essential aspects in customers' satisfaction with e-banking include
perceived value, brand perception, cost effectiveness, ease of use, convenience, problem
solving, security/assurance, and responsiveness. Comparatively speaking, contact facilities,
system availability, fulfilment, efficiency, and compensation are less significant. In e-banking,
brand perception is predicted by security/assurance, responsiveness, ease of use, cost
effectiveness, and compensation, while perceived value is predicted by fulfilment, efficiency,
security/assurance, responsiveness, convenience, cost effectiveness, problem solving, and
compensation. Online banking will be problematic if there is insufficient security (Lu et al.,
2006; Masrek, Syafiq, Halim, Khan, & Ramli, 2018). Three factors make up security:
dependability, safety, and privacy (Polatoglu & Ekin, 2001). Customers may profit more from
Internet banking when the security assurance level is higher, according to service providers.

13
 Chapter – 2
Review of the Literature

14
 Chapter – 2 Review of the Literature

Customers that are enthusiastic about new technologies are more likely to use internet banking.
Electronic banking was defined by Daniel (1999) as a technique for changing bank information
and services and delivering them to consumers via various delivery channels that may be
utilised with technological equipment like personal computers and mobile phones. Internet
banking serves as a type of financial intermediary that facilitates online transactions (Ahanger,
2011). Internet banking in the banking sector makes use of computer technology to give
consumers better services and advance banking procedures (Rahmath and Hema, 2010). One
of the most efficient methods to raise the level of service quality and meet consumer
expectations is through technological advancements. Customers of conventional banks are now
increasingly used to Internet banking thanks to advancements in technology and innovation in
the financial and banking sectors (Acharya et al., 2008). In many industrialised nations, the
retail banking sector offers internet banking, allowing consumers to conduct transactions from
the comfort of their homes or places of employment (Munusamy et al., 2010). Additionally,
Internet banking can assist users in more effective money management (Bank Negara Malaysia,
2007). According to Pikkarainen, Karjaluoto, and Pahnila (2004), online banking is a site that
allows users to access various financial services, such as bill paying and investing. Customers
may do practically any form of banking transaction online, except for cash withdrawals, with
the click of a mouse (De Young, 2001).

With the onset of globalisation and more intense competition, the use of the internet as a new
alternative channel for the distribution of financial services has changed from being a strategy
to gain a competitive advantage to becoming a competitive necessity (Flavián, Torres, &
Guinalu, 2004; Gan, Clemes, Limsombunchai, & Weng, 2006). Online banking is used by
banks because it is the most affordable way to supply financial goods (Pikkarainen et al., 2004).
As well as saving the bank time and money, this service also reduces the chance that bank
tellers will commit mistakes (Jayawardhena & Foley, 2000). According to the claim made by
Karjaluoto et al. in 2002, "banking is no longer confined by space and time." Customers have
very simple access to their accounts across the world, 24 hours a day, 7 days a week.

According to Robinson (2000), the availability of Internet banking services helps banks to
begin and deepen their connection with their clients. The development of non-core products
like insurance and stock brokerage as an expansion strategy, improved market image, better

15
and quicker response to market evolution, mass customization to suit the likes of each user,
innovation of new products and services, more effective marketing, and communication at
lower costs are just a few of the numerous benefits that online banking offers to banks
(Tuchilla, 2000). Finally, only a small number of empirical research have looked at the impact
of corporate e-banking and internationalisation on business performance (Annavarjula &
Beldona 2000; Sung 2006).

Given that (a) a sizable portion of India's urban population is currently employed in the
information technology sector and has easy access to the Internet, and (b) there is a sizable
Indian expatriate workforce engaged in a variety of professional endeavours around the world,
there has been a very strong need for the deployment of Internet banking in India (Kannabiran
& Narayan, 2005). To safeguard consumers from cybercrime, many Indian banks have
launched user-friendly online banking services with cutting-edge security measures. Due to the
hassle-free accessibility and time-saving features of online banking, about 57% of Indian
respondents who use the Internet prefer banking online and utilise other financial services
(Malhotra & Singh, 2009). When adopting E-Banking services, clients' satisfaction levels in
the banking industry rise (Asiyanbi & Ishola, 2018). Online banking has become a strategic
tool to boost productivity, maintain operational control, and cut costs by substituting automated
processes with labour-intensive and paper-based ones. Profitability and productivity have
increased as a result.

The development of mobile banking technologies has raised client satisfaction levels. To lower
user expenses and increase user happiness, stakeholders have experimented with using virtual
banks, mobile banking, and internet banking. One of the topics that has received the greatest
attention in the literature on mobile banking is customer happiness. "Security" has been firmly
indicated as one of the aspects that most frequently affects customer satisfaction. Reliability,
perceived usability, perceived utility, system quality, compatibility, and cost-effectiveness all
seemed to have an impact on customer satisfaction.

Table 1 gives additional information on literature, on Customer Satisfaction.

Author/Year Main Task Tools & Methodology Principal Factors discovered

resolved used
Geetha and Vinay value-added, An empirical survey Financial security, Education and
(2017) innovative Statistical Package for training Connectivity and reliability
mobile Social Sciences (SPSS.
financial 20) Diffusion of
services while innovation

16
 retaining and
even extending
their base of
technology-
savvy
customers
Nagaraju (2015) factors Exploratory research/chi- cost, security, time and customer
affecting the square test and factor satisfaction
satisfaction in analysis TAM
mobile banking
Romario and the factors of quantitative design/self- reliable, convenient, cost-effective,
Bernardus (2018) mobile banking administered structured available on different mobile networks,
that influences questionnaire/Descriptive advertisements are encouraging, service
customer statistic/Excel is compatible with mobile devices,
satisfaction SERVQUAL model income (the social aspect of transacting)
Brown et al. investigate the UTAUT/qualitative Service Quality/Information
(2010) factors approach/face-to-face Quality/System Quality/Transaction and
influencing interviews/Convenience Payment Quality/Perceived
satisfaction and snowball sampling Usefulness/Trust/Innovativeness/Security
with cell phone
banking in
South Africa
Oscar (2013) to assess the Survey SERVQUAL Tangibles, reliability, responsiveness,
quality of model assurance (including competence,
physiotherapy courtesy, credibility, and security) and
services empathy (including access,
(customer communication, and understanding)
satisfaction)
Gomathinayagam to analyse the chunk sampling Login/Sign off are not easy/My handset
et al. (2019) problems faced technique Mann– does not have the capability to use
by the Whitney U Test in SPSS Mobile Banking/Security
customers package, Descriptive issues/Required facility not
during the use design available/Outdated Apps often mean out
of mobile of date security/I Poor connectivity lead
banking to poor security/Virus attack the mobile
banking App/Risk by hackers
Susobhan (2017) Investigating Questionnaire/cross- Perceived usefulness and/perceived ease
customers section research TAM of use/utilitarian attitude
ready to use
mobile
technology for

17
 banking
transaction
Jannatul (2010) to understand SERVQUAL model reliability, responsiveness, and assurance
the impact of survey interview
variables of e-
banking on
customer
satisfaction in
Bangladesh.
Sagib and Zapan to explore the administered reliability and responsiveness, efficiency,
(2014) perceived questionnaire survey and and convenience
service quality a confirmatory factor
dimensions and analysis SERVQUAL
their impact on
customer
satisfaction
Amiri and To examine the SERVQUAL model The Tangible, Reliability, Responsiveness
Faghani (2012) relationship ANOVA test Assurance, Empathy
between questionnaire
mobile banking
services and
customer
satisfaction
Thakur (2014) Customer PLS-SEM Model Previous interactions mobile interface
satisfaction and usability and service
loyalty
George and To investigate Technology Acceptance Perceived Ease of Use, Perceived
Kumar (2013) the effect of Model (TAM) Usefulness
TAM variables Perceived Risk of negative outcome
on customer
satisfaction in
the internet-
banking
context
Mohamad et al To investigate The mobile network, the The mobile network, the mobile banking
(2014) the relationship mobile banking website, website, and the mobile phone
between and the mobile phone a
technology survey
trust and
mobile banking
satisfaction

18
2.1. Service Quality
When clients compare their prior service expectations with their actual service expectations
and their actual service experience, service quality is formed (Naik et al., 2010). The banks
place a high priority on e-service quality in Internet banking since it has an impact on client
satisfaction. The first stage in ensuring customer happiness is the quality of the E-service
(Ranaweera & Neely, 2003). The nine dimensions of the quality of an e-service have been
identified by Zhao and Saha (2005). Customer satisfaction rises as a result of the improved
perceived service quality. Customers will get disappointed when perceived service quality falls
short of expectations (Jain and Gupta, 2004). Increased bank service quality can satiate and
foster attitude loyalty, which eventually helps to keep valued clients (Nadiri et al. 2009).
Various measurement tools and instruments, such as Gronroos' "Perceived Service Quality
Model," SERVQUAL, SERVPERF, SITQUAL, WEBQUAL, etc., have been developed by
various researchers to measure service quality (Riscinto-Kozub, 2008). This is evidenced by
the literature that is currently available. In their research presenting service providers and
consumers, Parasuraman et al. (1985) listed several factors that determine the quality of a
service, including accessibility, communication, trustworthiness, dependability,
responsiveness, and security. According to Zhou (2004), the dependability of the E-Banking
service has a substantial impact on the level of client satisfaction.

2.2. Web Design and Content

The importance of site design will be reflected in the degree of customer satisfaction and is a
key factor in encouraging the use of Internet banking (Ahmad and Al-Zu'bi, 2011). As a result,
consumer satisfaction will be positively significantly impacted. Customers can use internet
banking to carry out several financial and nonfinancial tasks through a bank's website.
According to Ahmad and AlZu'bi (2011), a good site design should have a decent screen layout
and design, clear visuals, and dynamic colour schemes. Websites play a significant role in a
bank's client communications and marketing efforts. According to Doll, Raghunathan, Lim,
and Gupta (1995), the layout and substance of the service information on the website are
significant elements that influence consumer satisfaction. Satisfaction and trust are both
influenced by how well customers think a company’s website, corporate image, and social
presence are done, with website quality having the biggest influence.

2.3. Security and Privacy

19
According to Dixit and Datta (2010), security is a sort of protection meant to guarantee
consumers' safety and stop hackers from violating their privacy. Security had a big impact on
consumer happiness, per Ahmad and Al-Zu' bi (2011). Customers are also concerned about
privacy, as they hope that banks would safeguard their financial and personal information when
doing Internet banking transactions. In their study, Zhao and Saha (2005) shown that privacy
has a significant impact on consumer happiness. Researchers have examined several factors
related to privacy and security, including upholding operational confidentiality, refraining from
disclosing personal information, and guaranteeing a high level of security for customer data
(Agarwal, Rastogi, & Mehrotra, 2009; Datta, 2010; Poon, 2007).

2.4. Convenience
Customers that utilise Internet banking are mostly concerned with convenience (Shariq, 2006).
Customer satisfaction was shown to be positively correlated with ease of use by Kassim and
Abdullah in 2010. The simpler methods of conducting banking transactions were more
important to customers who utilised Internet banking (Ainin et al., 2005). According to Madu
and Madu (2002), responsiveness is the capacity to assist clients of the bank and provide them
with prompt service. These services come in four different types. (1) The service can be
properly operated using an e-banking system. (2) In the event of any unsuccessful operations,
clients might be directed towards moving forward appropriately using e-banking channels. (2)
It can provide a quick fix for any conceivable problem in electronic banking operations. (4) It
can provide immediate help for the customer's questions.

2.5. Speed
According to Ahmad and Al-Zu' bi (2011), speed may be defined as the frequency of network
connection failures, the length of time it takes to traverse an Internet banking website, the time
a client spends waiting for a page to load, and the speed at which banks respond to consumer
complaints. Typically, the host server's poor performance and the extensive and high-resolution
graphics have an impact on the speed of Internet banking (Shariq, 2006). According to Haque
et al. (2009), success for e-banking depended heavily on speed. Customer satisfaction increased
as a result of speed (Ahmad and Al-Zu' bi, 2011).

20
2.6. Brand Reputation
Customer happiness is significantly impacted by perceived brand reputation, and consumer
perceptions of brands are influenced by their own usage experiences, recommendations from
others, and corporate marketing initiatives. Woodruff and colleagues, 1983. One of the crucial
elements in the banking industry is brand perception. According to Khatoon, Zhengliang, and
Hussain (2020), internet banking has a substantial influence on consumers' awareness of brand,
mindset, and emotions. The results of the study, which measured the degree of customer
satisfaction with online banking services, revealed that trust, habit, and reputation all greatly
affect loyalty, with reputation having the highest impact. According to research, perceived
value and service quality have little bearing on customer loyalty. Results showed that service
quality has a favourable and significant influence on customer loyalty, customer satisfaction,
and trust.

2.7. Perceived Value

In addition to brand impression, one of the most significant aspects of the customer satisfaction
evaluation is perceived value, which is used to evaluate the service's real advantages.
According to Holbrook (1994), Bolton and Drew (1991), Cronin and Taylor (1992), and others,
perceived value is the compression between the price or charges that customers pay for services
in exchange for the utility they perceive the services to provide (Holbrook, 1994). The
customer's overall review is based on both the service they expected from the bank in terms of
several service quality elements and the service they received. According to a mix of
perceptions about the brand's many performance aspects, a perceived overall brand
performance is determined (Woodruff et al., 1983; Che-Ha and Hashim, 2007).

Technology-related user perception as related to Davis's TAM idea. The end-user computing
technologies and user interest in using them are explained by TAM together with the factors
influencing computer adoption that explain consumers' conduct. Perceived Usefulness and
Perceived Ease of Use were two beliefs that were examined using the fundamental TAM model
[67–70]. Perceived usefulness is defined as "the extent to which a person believes that using a
particular system would improve their job performance," while perceived ease of use is the
extent to which a person believes using a particular system would be effortless. Research
projects use the service quality model (SERQUAL) to examine how customers perceive
quality. Reliability, empathy, and network quality are among the results that demonstrate why
customers would adopt new technologies.

21
Table 2 gives detail and overview of the work done in this area on Customer Perception of
Mobile Banking.
Author/year Main Task resolved Tools and Methodology Principal Factors Discovered
used
Tai and Kwoting to establish a better exploratory factor It was concluded that 6
(2009) measurement model for analysis (EFA) Survey constructs are important for
post adoption user post adoption behaviour
perception of mobile analysis
banking services i.e., security, interactivity,
relative advantage, ease of
use, interface creativity and
customer satisfaction
Ali and Hayat (2014) Technology Adoption Empirically study TAM Perceived Usefulness and
Model (TAM) to Ease of Use
incorporate the role of
factors in influencing
customer’s perception
towards M-banking
adoption
Hiram et al. (2016) To determine the effect Theory of planned Perceived
of antecedent variables behaviour (TPB) SPSS Usefulness/Perceived Ease of
on intention towards & Quantitative Use Trust/Perceived
m-payment system approach by means of Safety/Interpersonal
using the theory of questionnaire- based Influence/External
planned behaviour survey Influence/Self-efficacy
(TPB) Facilitating
Condition/Attitude/Subjective
Norm/Perceived Behavioural
Control Intention
Kim et al. (2009) Understanding Empirical research a relative benefits, propensity
dynamics between survey/Structural to trust and structural
initial trust and usage equation modelling assurances
intentions of mobile DOI
banking
Tiago et al. (2014) A model for task technology fit Initial trust, performance
understanding the (TTF) model, unified expectancy, technology
importance and theory of acceptance characteristics, and task
relationship between and usage of technology fit reliability
the user perception of technology (UTAUT),

22
 m-Banking, initial trust and initial trust model
in m-Banking services, (ITM) partial least
and the fit between the squares (PLS)
technology and m-
Banking task
characteristics
Milena et al. (2014) Young Customers’ SERVPERF Saving time
Perception of the questionnaire
Quality of M-banking exploratory study,
Services TAM
Prerna and Preeti, Explores the issues in Questionnaire Mobile handset
(2011) mobile banking ANNOVA operability/security/privacy,
perceived critical for Bank-led-model standardization of services,
adoption by both customization,
mobile banking users Downloading & installing
as well as non-users application software and
Telecom services quality

Table 3: Adoption of consumers

Author/year Main Task resolved Tools and methodology Principal Factors
used Discovered
Shamsher (2014) The adoption and impact of Survey research Safety/security,
mobile banking on customers convenience sampling reliability, efficiency,
method, Anova and factor and responsiveness
analysis, SPSS 16 DOI
Prerna (2011) To explore the issues in A structured Mobile handset
mobile banking which was questionnaire/Data operability,
perceived as critical for analysis was done using security/privacy, and
adoption by mobile banking correlation, independent standardization of
users as well as non-users sample T-test, ANOVA, services
percentile analysis TAM
Mostafa and To investigate factors Survey/Quantitative Perceived self-Efficacy,
Eneizan (2018) influencing the acceptance of approach/linear regression Perceived ease of use,
mobile banking in Libya analysis/Statistical and perceived usefulness
Package for Social
Scientists (SPSS) TAM
Emma et al. (2015) To explore the factors Unified Theory of Performance
affecting nonusers’ intentions Acceptance and Use of expectancy, social
to adopt Remote Mobile Technology (UTAUT)/A influence,
Payments survey/Structural equation innovativeness, and
modelling (SEM) perceived risk

23
Endah and Isnalita, The attitude of the customer Questionnaires/quantitative Compatibility/relative
(2018) and the value of customer to research/structural portability/integrity
adopt mobile banking equation modelling (SEM)
using SMARTPLS
application TAM
Richard et al. Provides comprehensive A survey approach TAM Perceived behavioural
(2017) insight into the deciding and TPB control (PBC) and
factors affecting an attitudes (ATT) toward
individual’s intention to m-banking adoption
adopt mobile banking (m- intentions
banking) services in Pakistan
Hamza et al. Factors affecting Jordanian Exploratory study/the Self-efficacy, trialability,
(2011) consumers’ adoption of survey UTAUT compatibility,
mobile banking services complexity, risk, and
relative advantage were
statistically significant in
influencing mobile
banking adoption
Ibrahim and Sadiq Mobile banking adoption: Diffusion of Innovation Past experiences,
(2012) application of diffusion of convenience sampling lifestyle and beliefs
innovation theory technique banking support and
provision of variety of
services
Mohamed and Mobile Banking Adoption: TAM and TPB models. A Mobile banking
Tarek. (2013) An Examination of survey adoption Attitude
Technology Acceptance Perceived
Model and Theory of usefulness/Behavioural
Planned Behaviour control Subjective
norm/Perceived ease of
use
Shamrao Ghodke Explores the factors which A survey research Factor Consumer
(2013) help in penetrating the use of analysis UTAUT awareness/usefulness
mobile banking among major and/ease of use
consumers
Ricardo de Sena To evaluate the intention of Unified Theory of Performance
(2013) adopting a future mobile Acceptance and Use of expectation, effort
payment service from the Technology (UTAUT)/The expectation, social
perspective of current survey/structural equation influence, and perceived
Brazilian consumers of modelling risk. Good performance,
mobile phones, based on the easy to use, secure and
Unified Theory of

24
 Acceptance and Use of promotes the action of
Technology (UTAUT) the social circle
Kibicho and To establish the effect of Descriptive research, perceived usefulness,
Mungai (2019) Mobile banking adoption on design, SPSS & TAM perceived ease of use,
financial credit accessibility and perceived risk
Ali Tarhinib, et al. To examine the key factors Unified Theory of trust (TR), security (PS)
(2019) that may hinder or facilitate Acceptance and Use of and privacy (PP)
the adoption of mobile Technology UTAUT2, behavioural intention
banking services in a cross- self-administrated towards adoption of
cultural context questionnaire & structural mobile banking services
equation modelling based was influenced by habit
on AMOS 23.0 (HB), perceived security
(PS), perceived privacy
(PP) and trust (TR) for
both the Lebanese and
English consumers
Munoz - Leiva et Develops a technology Online survey Applying Perceived ease of
al. (2016) acceptance model that structural equation use/Perceived usefulness
integrates the innovation modelling (SEM) DOI, Attitude to use/Social
diffusion theory, perceived Perceived risk and Trust image/Trust Perceived
risk and trust in the classic TAM risk/Intention to use
TAM model to shed light on
what factors determine user
acceptance of mobile
banking applications
Gëzim Tosuni et To evaluate the state at A survey quantitative Lower transaction
al. (2019) which mobile banking is research method cost/Security from
being utilised in the Republic fraud/Physical security
of Kosovo, and to what Safe transaction with
extend banks are taking feedback on transfer
advantage of this aspect of
banking business
Hossien (2013) To investigate the factors that Exploratory study perceived usefulness
influence Isfahanian’ Technology Acceptance (PU), perceived ease of
intention to adopt mobile Model (TAM) use (PEOU) and
banking compatibility
Mohd et al. (2011) Factors that influence the Extended Technology Perceived usefulness,
adoption of mobile banking Acceptance Model (TAM) perceived credibility,
in Malaysia using extended and awareness
Technology Acceptance
Model (TAM)

25
Chen (2013) The effects of diffusion and Questionnaires, SPSS and Brand awareness &
adopters of mobile banking LISREL behavioural Brand image
services (MBSs) models
Cruz et al. (2010) To investigate the perceived Online survey Perception of cost, risk,
obstacles to the adoption of multidimensional scaling, low perceived relative
mobile banking services while chi square tests advantage, and
among Brazilian internet TAM complexity
users
Ching et al. (2011) To investigate the factors that Technology Acceptance Perceived usefulness
influence Malaysians’ Model (TAM), self- (PU), perceived ease of
intention to adopt mobile administrated use (PEOU), relative
banking questionnaire, multiple advantages (RA) and
regression, and factor personal innovativeness
analysis (PI) social norms (SN)
not significant perceived
risks (PR) negatively
associated
Akturan and To investigate consumers' TAM structural equation Perceived usefulness,
Tezcan (2012) mobile banking adoption modelling (SEM). perceived social risk,
through an integration of the perceived performance
technology acceptance model risk and perceived
(TAM) with work on benefit
perceived benefits and
perceived risks
Alalwan et al. Conceptual model that best Technology Acceptance Perceived usefulness,
(2016) explains the key factors Model (TAM). perceived ease of use,
influencing Jordanian Structural equation and perceived risk.
customers ' intention to adopt modelling (SEM) survey
mobile banking questionnaires
Wessels.and To identify and test the key A web-based survey, Perceived usefulness,
Drennan (2010) motivators and inhibitors for Questionnaire & TAM perceived risk, cost and
consumer acceptance of compatibility
mobile phone banking
Sun et al. (2012) To explore the effects Online self-administered Socially oriented,
religious affiliation and survey & TAM consumer awareness,
commitment have on and experience
Southeast Asian young
adults' intention to adopt
Islamic mobile phone
banking

26
 Tobbin (2012) To determine the factors that Qualitative research, open- Perceived usefulness and
will affect the acceptance of ended questions & TAM perceived ease of use
mobile banking by the rural from the technology
unbanked acceptance model,
economic factors, and
trust influence
Tiago et al. (2016) To identify the main Extended unified theory of Compatibility, perceived
determinants of mobile acceptance and use of technology security,
payment adoption and the technology (UTAUT2), performance
intention to recommend this Diffusion of innovations expectations,
technology (DOI) & Structured innovativeness, and
equation modelling (SEM) social influence
Nyi Lwin et al. To explore the effects of Technology Acceptance Perceived usefulness and
(2019) important factors that affect Model (TAM) & survey perceived ease of use &
that adoption of mobile Perceived Risk and
banking technology by Perceived transaction
customers of Private costs were found to have
Commercial Banking Sector a negative correlation
in Yangon, Myanmar with the adoption
Abdul and The determinants likely to Technology Acceptance Social influence,
Muhammad (2013) influence the adoption of Model (TAM) surveying perceived risk, perceived
mobile banking services, usefulness, and
with a special focus on perceived ease of use.
underbanked/unbanked low-
income population of
Pakistan

The findings of Yoo and Donthu (2001) demonstrate that the four variables of usability,
aesthetics, processing speed, and security have acceptable reliability and validity in every
regard, demonstrating the direct relationship between site performance and site quality.
Customer satisfaction is impacted by several factors, including effectiveness, implementation,
responsiveness, and information privacy (Lin, H. F., 2007). A crucial part of anticipating
behavioural expectations is the measuring of importance, compassion, and responsiveness
(Wong & Sohal, 2003). Response time, conformability, dependability, tangibility, and
compassion were cited by Das & Ravi (2021) as significant service quality indicators for
measuring customer satisfaction. The success of a bank is largely influenced by the perception
of consumers and different service preferences (Wong, Rexha, & Phau, 2008). By putting
efficiency and dependability first, banks should put a greater emphasis on delighting their

27
clients (Chu, Lee, & Chao, 2012). Through increased tenability and dependability, e-banking
(Shimeles, 2020) contributes to the growth of the banking sector. The impression of customers
and the preference of a service quality have an influence on a bank's performance (Al-Hawari,
Hartley, & Ward, 2005). The study identified five factors, including perceived utility, customer
satisfaction, individual preferences, and consistency when using e-banking services.

The decrease in bank clients visiting branches as a result of the use of e-banking services was
assessed in Asiyanbi and Ishola's (2018) study. The findings indicated widespread use of e-
banking services including online banking, ATMs, and electronic transfers, but they also
revealed challenges like network outages, fraud, and unsuccessful transactions. According to
the report, the advantages of e-banking—including its cashless and time-saving features—have
delighted clients. To promote e-banking services, the authors suggested spending more on e-
banking infrastructure and user segmentation. Demoulin et al. (2013) looked at how waiting
and transaction-related situational elements affected consumers' cognitive and emotive
reactions to service delivery time, including their service assessments.

According to Stewart (1999), customer mistrust in electronic channels is a major factor in the
internet's failure to succeed in retail banking. Another aspect that might speed up the
dissemination of innovation is the provision of infrastructure facilities. For instance, Hiltz,
Johnson, and Turoff (1986) discovered that communication via computers is less intimate and
socioemotional than face-to-face interactions. According to Tomiuk and Pinsoneault (2001),
banks will be less able to build trusted relationships with their clients and staff as a result of
the less rich and stable e-banking environment. On the other hand, e-banking will be a desirable
alternative for those consumers whose connection is largely based on the effectiveness of
services. There are also several other theories relating to consumer behaviour what may explain
the rate of adoption and degree of acceptance of internet banking. The most significant barriers
to using Internet banking are (i) a lack of access to the Internet, (ii) a dangerous environment
for Internet banking, and (iii) a barrier to account access.

28
 Chapter 3
Research Methods and Procedures

29
 Chapter 3: Research Methods and Procedures

Purpose of the study

 To Identify the various dimensions of Internet Banking Service Quality.

 To examine the relationship between the Customer Satisfaction and the various Internet
Banking Service Quality Dimensions.
 To study the impact of the Internet Banking Service Quality Dimensions on the
satisfaction of customers & Customer Attitude & Adoption.

Research Design/methodology/approach

A comprehensive review of the scientific literature has justified the development of a

behavioural model that explains satisfaction using a set of constructs or endogenous
variables. Research design is a blueprint of a scientific study. It includes research
methodologies, tools, and techniques to conduct the research. It helps to identify and address
the problem that may rise during the process of research and analysis

A descriptive research design is applied to this research. Descriptive research design is a type
of research design that aims to systematically obtain information to describe a phenomenon,
situation, or population. More specifically, it helps answer the what, when, where, and how
questions regarding the research problem rather than the why.

Sample and Data Collection

A structured questionnaire that was adapted from prior research was used to obtain relevant
data for this study. The questionnaire was randomly distributed to 200. The respondents
asked to answer the questions on a 5-point Likert scale ranging from ‘5 = strongly agree’ to
‘1 = strongly disagree’.

The data required for the study is collected from both primary data and secondary data.

30
PRIMARY DATA: Questionnaire is main tool for collecting primary data. Questionnaire has
been designed in a systematic manner covering adequate and relevant questions which covers
all aspects of the study.

SECONDARY DATA: The background of the present study was collected from various
sources which include Books, journals, website, and other related research work.

Sampling Design & Sampling Technique

Samples may be either chance samples or non-probability samples. In this study, we used
non-probability samples. The convenient sampling method is used in our study.

Non-probability sampling is a method of selecting units from a population using a subjective

(i.e. non-random) method.

Convenience sampling is a non-probability sampling method where units are selected for
inclusion in the sample because they are the easiest for the researcher to access.

Data Analysis

Data analysis is the process of collecting, modelling, and analysing data using various
statistical and logical methods and techniques. The tool used for data analysis is Excel.

Data visualization graphically show your information in a way that people can read and
understand it, with the use of charts, graphs, maps, bullet points, or a host of other methods,
which helps you derive valuable insights by helping you compare datasets and observe
relationships.

31
 Chapter 4
Data Interpretation and Findings

32
 Chapter 4: Data Interpretation and Findings

The data gathered were analysed using various tools such as Bar Charts & Pie Charts.

Frequency of Online Banking Service usage

Rarely
Daily
14%
21%

Monthly
36% Weekly
29%

Daily Weekly Monthly Rarely

FREQUENCY of use was assessed with the question “How often do you use online banking
services?”. Majority of respondents use Online Banking Monthly.

What types of transactions do you prefer to do

online?

Balance inquiry / Bank statement 42.9

Paying bills 42.8

CTransferring funds between accounts 71.4

Checking account balances 42.9

0 10 20 30 40 50 60 70 80

What types of transactions do you prefer to do online?

Doing routine transactions such as fund transfer, bill payment, checking of account balances,
etc. are some common m-banking transactions that are performed by the respondents.

33
 On a scale of 1 to 10, how satisfied are you with
your current online banking experience?
57.1
60
50
40 35.7

30
20
7.1
10
0 0
0
1 (Very 2 3 4 5 (Satisfied)
dissatisfied)

On a scale of 1 to 10, how satisfied are you with your current online banking experience?

Through the research on the influence of mobile banking service on customer satisfaction, it is
found that the speed of transactions of mobile banking, accessibility, affordability, adaptability,
ease of use, and relative advantage have a significant impact on customer satisfaction.

Have you ever experienced any issues while using

online banking services?

No
36%

Yes
64%

Yes No

Customers are often worried about financial frauds, bank account hacking, theft of passwords
or PINs. There is also risk of malware and virus attack which might lead to third party accessing
an individual's private data and details such as their usernames, passwords etc., but as per the
previous diagram and its implication, because of use of block chains & government regulations,
chances of frauds are decreasing constantly.

34
 Do you feel that online banking services are secure
enough to handle your financial transactions?

Yes No Maybe

Banking apps are highly prone to breaches and data theft, as they serve as a place where users
store and manage sensitive data.

How important are the following features to you when

using online banking services?
12

10

0
Ease of use Accessibility on Security Customer Speed of User Interface
multiple devices measures support transactions

Important Not Important

Importance of different features of online banking services vary from customer to customer as
per their personal requirements.

35
 What is the primary reason for using online banking
services?

Cost Effective 50

Time-saving 92.9

Accessibility 42.9

Convenience 71.4

0 10 20 30 40 50 60 70 80 90 100

What is the primary reason for using online banking services?

People find Online Banking cost-effecting, easy to use, time-saving & convenient.

Would you consider switching to a different bank if

they offered better online banking services?

Yes
28%
Maybe
43%

No
29%

Yes No Maybe

People are not very sure to switch banks for better online banking services as banks are
constantly working to improve their online services

36
 PERCEPTION ANALYSIS
14
12
10
8
6
4
2
0
I use mobile banking I am satisfied with the I am comfortable using I do not use mobile
because of its 24 X 7 level of data and new technologies like banking because of
availability information security mobile banking possibilities of identity
provided by the bank theft, fraud or hacking

Strongly Agree Agree Neutral Disagree Strongly Disagree

People are satisfied with the responsiveness, level of security & the adoption ease of their
online banking services.

37
 Chapter 5

Conclusions, Recommendation & Limitations

38
 Chapter 5: Conclusions, Recommendation & Limitations

Conclusion

In this research, convenience, service quality variable and security and privacy variables speed
have a relationship with customer satisfaction towards Internet banking. This research can help
Internet banking providers to know Internet banking users ‘opinion and find the solution
through customers’ perspective. The analysis tests the relationship between the proposed
variables (accessibility, ease of use and usefulness) and satisfaction with electronic banking. In
our study, we proposed a model that explores the effect of accessibility, ease of use, trust, and
usefulness on satisfaction with electronic banking services, demonstrating that a positive
relationship exists between the variables. It is important to note the direct effect that usefulness
and ease of access have on satisfaction; the main determinants of the TAM model. Web site
usability was found to have a positive effect & direct influence on customer satisfaction.
Satisfaction is the determinant that facilitates bank product and service customization, helping
maintain and develop long-term relationships and improve profitability, enhancing loyalty,
reducing the dropout rate and improving E-WOM.

The study also discovers the influencing power of responsiveness and relative advantage.
Relative advantages mainly arise from a comparison of traditional banking and mobile banking.
Mobile banking gain continuous popularity because of its time flexibility and operational
simplicity. Moreover, the ability to retrieve account, View transaction history and usability of
mobile apps make the mobile banking fascinating to the young generation.

Banks should design and implement mobile banking services and apps in such a way that will
ensure proper safety, security and confidentiality of money and information. In this competitive
world, product segment and customize service are very important to attract different categories
of customer. So, banks can offer mobile banking services that allow flexibility and
customization based on user profile and requirements.

39
Recommendations

The sample size of the research should be increased because the sample size may affect the
accuracy and reliability of the research. Sample size can help to improve the reliability between
independent variables and dependent variable. A broader sample size should be used to ensure
the reliability and generalizability of the research results. In addition, an adequate content for
a questionnaire is very important because it will affect the significant value of independent
variables and dependent variable.

Research Limitations & Implications

The study was limited to the data shared by respondents aging between 25 – 45, residing in
Delhi-NCR region. Caution should therefore be exercised in generalising the results. The
research results provide several valuable conclusions for financial institutions. The present
research is a contribution to the knowledge field through the analysis of the impact that several
factors have on customer satisfaction with the e-banking sector. Therefore, this research
contributes to the services marketing discipline by determining the role of the e-banking in the
enhancement of the perception of customer satisfaction. From the banker’s perspective, the key
drivers of customer satisfaction in online banking are identified as proposed in this research
model which are useful for enhancing the design and features of online banking.

40
 REFRENCES

1. Singh, S. (2019) Measuring E-Service Quality and Customer Satisfaction with Internet
Banking in India. Theoretical Economics Letters, 9, 308-326.
https://doi.org/10.4236/tel.2019.92023

2. Afful K. and Sellappan P. (2019) Survey on Customer Satisfaction, Adoption,

Perception, Behaviour, and Security on Mobile Banking. Volume 9, Issue 2

3. Sonam G., Vaishali N. (2015) SWOT Analysis of Electronic Banking in India. Vol.2
Issue-10

4. Goh L., Yeo F., Lim B., Tan H. (2015) Understanding Customer Satisfaction of Internet
Banking: A Case Study in Malacca

5. Francisco Lie ́bana-Cabanillas, Francisco Mun ̃ oz-Leiva and Francisco Rejo ń -

Guardia. (2013) The determinants of satisfaction with e-banking.

6. A. Banu, N. Mohamed, Satyanarayana P. (2019) Online Banking and Customer

Satisfaction: Evidence from India

7. N. Saravanan, R. Leelavathi (2020) Impact of E- Banking Services with Customer

Attitude and Satisfaction with Special Reference to Chennai District

8. Mohammed H., Zainuddin H. (2023) The Predictors of Mobile Banking Usage: A

Systematic Literature Review IJACSA) International Journal of Advanced Computer
Science and Applications, Vol. 14, No. 2,

9. Satyajitsinh G., Raychada P., Akshita R. (2023) A Comparative Analysis of Customer

Satisfaction Over E-Banking Services of Public Sector and Private Sector Banks. EPRA
International Journal of Multidisciplinary Research (IJMR) - Peer Reviewed Journal
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10. Amith Kumar Reddy, Dr. Megharaja. B, “Impact of E-Banking On Customer

Satisfaction”, Palarch’s Journal of Archaeology of Egypt/Egyptology 18(8), 4220-
4231. ISSN 1567-214x.

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