PROJECT REPORT

(Submitted for the Degree of B.Com. Honours in Marketing under the

University of Calcutta)

Title of the Project

A Comparative Study of E-banking Services

Submitted by

Name of the Candidate : Neel Chaudhury

C.U. Registration : 017-1111-2533-17

C.U. Roll No. : 171017-21-0969

Name of the College : THE BHAWANIPUR EDUCATION SOCIETY

COLLEGE

College Roll No. : 0103173468

Supervised by

Name of the Supervisor : Prof. Souvik Chakraborty

Name of the College : THE BHAWANIPUR EDUCATION SOCIETY

COLLEGE

Month & Year of Submission

June, 2020

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 SUPERVISOR'S CERTIFICATE

This is to certify that Mr. Neel Chaudhury, a student of B.Com. Honours in Marketing of The
BHAWANIPUR EDUCATION SOCIETY COLLEGE under the University of Calcutta has worked
under my supervision and guidance for his Project Work and prepared a Project Report with the title ‘A
Comparative Study of E-banking Services’ which he is submitting, is his genuine and original work to
the best of my knowledge.

Signature

Name:

Designation:

Name of the College: The Bhawanipur Education

Society College

Place: Kolkata

Date:

2
 STUDENT'S DECLARATION

I hereby declare that the Project Work with the title ‘A COMPARATIVE STUDY OF E-BANKING
SERVICES’ submitted by me for the partial fulfilment of the degree of B.Com. Honours in Marketing
under the University of Calcutta is my original work and has not been submitted earlier to any other
University /Institution for the fulfilment of the requirement for any course of study.

I also declare that no chapter of this manuscript in whole or in part has been incorporated in this report
from any earlier work done by others or by me. However, extracts of any literature which has been used
for this report has been duly acknowledged providing details of such literature in the references.

Signature

Name: Neel Chaudhury

Address: J/373. B.P. Township,

Kolkata: 700094

Registration No: 017-1111-2533-17

Place: Kolkata

Date:

3
 ACKNOWLEDGEMENT

The satisfaction and euphoria that accompany the successful completion of any task is incomplete without
the mention of people who made it possible. So I take this as a great opportunity to pen-down a few lines
about the people to whom my acknowledgement is due.

It is with the deepest sense of gratitude that I wish to place on record my sincere thanks to
Prof. Souvik Chakraborty my project guide for providing me inspiration, encouragement, guidance,
help and valuable suggestions throughout the project.

I would also like to thank all my respondents for giving me their valuable time and information.
And my heartfelt thanks to my parents and friends for their constant support and help throughout the
journey of this project.

This work has indeed been a learning curve for my academic life, in particular, and life in general.

[NEEL CHAUDHURY]

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 TABLE OF CONTENTS

CHAPTER NO: SUBJECT: PAGE NO:

1. Introduction 6

1.1. - 1.6. Background of the study, Needs, 7 - 13

Objectives, Methodology,
Limitations, Literature Review

2. Conceptual framework

2.1. - 2.2. Overview, National & International 14 - 29

scenario

3. Presentation & Data analysis

3.1. – 3.2. Presentation of data, Analysis & 30 - 50

findings

4.0. Conclusion & Recommendation:

4.1. – 4.2. Conclusion,Recommendation 51 - 52

5.0. Bibliography 53

6.0. Annexure 54 - 57

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 Chapter 1:

INTRODUCTION

Internet banking (or E-banking) means any user with a personal computer and a browser can get
connected to his bank’s website to perform any of the virtual banking functions. In internet banking
system the bank has a centralized database that is web-enabled. All the services that the bank has
permitted on the internet are displayed in menu. Any service can be selected and further interaction is
dictated by the nature of service. Once the branch offices of bank are interconnected through terrestrial or
satellite links, there would be no physical identity for any branch. It would be a borderless entity
permitting anytime.

The delivery channels include direct dialup connections, private networks, public networks, etc. with the
popularity of computers, easy access to Internet and World Wide Web (WWW), Internet is increasingly
used by banks as a channel for receiving instructions and delivering their products and services to their
customers.

Meaning of E-Banking

E-bank is the electronic bank that provides financial services for an individual client by means of Internet.

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 1.1 Background of the study

For this booklet, e-banking is defined as the automated delivery of new and traditional banking products
and services directly to customers through electronic, interactive communication channels. E-banking
includes the systems that enable financial institution customers, individuals or businesses, to access
accounts, transact business, or obtain information on financial products and services through a public or
private network, including the Internet. Customers access e-banking services using an intelligent
electronic device, such as a personal computer (PC), personal digital assistant (PDA), automated teller
machine (ATM), kiosk, or Touch-tone telephone. While the risks and controls are similar for the various
e-banking access channels, this booklet focuses specifically on Internet-based services due to the
Internet's widely accessible public network. Accordingly, this booklet discusses about some of the
commonly known types of E-banking services.

E-BANKING SUPPORT SERVICES:

WEBLINKING

A large number of financial institutions maintains sites on the World Wide Web. Some websites are
strictly informational, while others also offer customers the ability to perform financial transactions, such
as paying bills or transferring funds between accounts.

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 1.2. Needs of E-Banking

1. To know the customer’s perception towards the E-banking

2. Organizing Educational Campaign to Create Goodwill of the Company.

3. Services it effectively valuable to Create Place in the Minds of Customer.

4. Availability should be increased by using various services strategy.

5. Company should make service equal to or better than Competitive Brands by all
means.

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 1.3. Objectives of E-Banking

1. The Basic Level Service is the banks' websites which disseminate information on different
products and services offered to customers and members of public in general. It may receive and
reply to customer's queries through e-mail.

2. In the next level are Simple Transactional Web sites which allows customers to submit their
instructions, applications for different services, queries in their account balances, etc. but do not
permit any fund-based transactions on their accounts.

3. The third level of Internet banking service are offered by Fully Transactional Web sites which
allow the customers to operate on their accounts for transfer of funds, payment of different bills,
subscribing to other products of the bank and to transact purchase and sale of securities, etc. The
above forms of Internet banking service the customer or by new banks, who deliver banking
service primarily through Internet or other electronic delivery channels as the value added
services. Some of these banks are known as 'Virtual' banks or 'Internet only' banks and may not
have physical presence in a country despite offering different banking services

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 1.4. Research Methodology

Research methodology is a systematic approach to achieve the defined objectives. In other words the
procedure by which a researcher go about their work of describing, explaining and predicting
phenomenon is called research methodology. The research methodology used in this project is
represented in a tabular form below:

• TYPES OF DATA COLLECTION:

The project is based on primary and secondary data obtained from the sources mentioned below well as
other sources. The data so obtained has been edited and transformed into required information on the
basis of the requirements of the presentation.

• SOURCES OF DATA COLLECTION:

This study is based on the data obtained from various sources like chapters of books, journals, web pages
contents included.

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 1.5. Limitations of E-Banking

 Banks are not giving me all information about E-banking services.

 They do not permit to meet any of the employees in their bank.

 E-banking promotes lack of socialising/social contacts Hackers may intercept data and defraud
customers Phone bills can increase Customers will be more vulnerable to phishing.

 Customers are compelled to have computers at home, Internet access and computers skills.

 Easier for customers to mismanage their accounts due to the 24-hour service that will be available.

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 1.6. Literature Review

E-Banking was first adopted in New York in 1981 where the major banks like Citibank, Chase and others
provided home banking services by making use of a system called videotext. Stanford Federal Credit
Union was the first service provider of internet banking in October 1994.

The first known deployment of home computer banking to consumers came in December 1980 at United
American Bank, a community bank headquartered in Knoxville, Tenn. United American partnered
with Radio Shack to produce a secure custom modem for its TRS-80 computer that would allow bank
customers to access account information securely. Services available in its first year included bill pay,
account balance checks, and loan applications, as well as game access, budget and tax calculators and
daily newspapers. Thousands of customers paid $25-30 per month for the service.

Large banks, many working on parallel tracks to United American, followed in 1981 when four of New
York's major banks (Citibank, Chase Manhattan, Chemical, and Manufacturers Hanover) offered home
banking services, using the videotex system. Because of the commercial failure of videotex, these
banking services never became popular except in France (where the use of videotex (Minitel) was
subsidized by the telecom provider) and the UK, where the Prestel system was used.

The developers of United American Bank's first-to-market computer banking system aimed to license it
nationally, but they were overtaken by competitors when United American failed in 1983 as a result of
loan fraud on the part of bank owner Jake Butcher, the 1978 Tennessee Democratic nominee for governor
and promoter of the 1982 Knoxville World's Fair. First Tennessee Bank, which purchased the failed bank,
did not attempt to develop or commercialize the computer banking platform.

The United States (1984)

In the United States in-home banking was "is still in its infancy" with banks "cautiously testing consumer
interest" in 1984, a year after online banking went national in the UK. At the time Chemical Bank in New
York was "still working out the bugs from its service, which offers somewhat limited features". The
service from Chemical, called Pronto, was launched in 1983 and was aimed at individuals and small
businesses. It enabled them to maintain electronic check-book registers, see account balances, and
transfer funds between checking and savings accounts. The other three major banks: Citibank, Chase
Bank and Manufacturers Hanover started to offer home banking services soon after. Chemical's Pronto

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failed to attract enough customers to break even and was abandoned in 1989. Other banks had a similar
experience.

Since it first appeared in the United States, online banking has been federally governed by the Electronic
Funds Transfer Act of 1978.

France (1984)

After a test period with 2,500 users starting in 1984, online banking services were launched in
1988, using Minitel terminals that were distributed freely to the population by the government.

By 1990, 6.5 million Minitels were installed in households. Online banking was one of the most popular
services.

Online banking services later migrated to Internet.

Australia (1995)

In December 1995, Advance Bank acquired by St.George Bank, started to provide customers with online
banking with the rollout of the C++ Internet banking program.

Japan (1997)

In January 1997, the first online banking service was launched by Sumitomo Bank. By 2010, most major
banks implemented online banking services, however, the types of services offered varied. According to a
poll conducted by Japanese Bankers Association (JBA) in 2012, 65.2% were the users of personal
internet banking.

India (1998)

In 1998, ICICI Bank introduced internet banking to its customers.

China (2015)

In January 2015, WeBank, the online bank created by Tencent, started 4-month-long online banking trail
operation.
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 Chapter 2:

CONCEPTUAL FRAMEWORK

2.1. Overview

Within the change in the time, the rise of the new internet era has contributed a lot in the life style of the
people living on earth. Internet is bringing so much change in people’s life that they can get whatever
they think by sitting at home and without making any efforts. This is the benefit of using internet. As we
can see everything from home accessories to beauty products, brands, services, consultants, gaming to
online selling are done through internet. You only need to type the key word which you require and get
the results at glance. Same is the case with banking. Almost all the banks in the world are providing the
online facility that includes from day to day transactions to account opening, issuing credit ca. paying and
getting the loans and debts and providing customers facilities to shop online. Some banks are also
providing the facilities to draw cash from their bank accounts online and they can pay their bills online.
Now this is what I call the revolution because the online banking is the best part about using the internet.
With the use of online banks, you feel secure and by sitting at home you can do your monetary
transactions and you do not need to go to bank time after time. Just log in to the website of your bank and
enter your account number and that is it. You can get access to all the offers provided by banks to you and
you can perform your desire task about your bank account.

The offer remains the same as they are for physical customers and sometimes banks offer more to people
who deal online with their accounts. Sometimes the customer has problem to get access to their account
instantly and they cannot afford to go to their bank. At that time the online banking facility seems best to
them for performing their monetary action that they require. All the international banks like RBS,
Barclays, Standard Chartered, State bank of America, JSB bank and many other famous and local banks
have the online websites that provides facilities for customers to get connected with the banks from their
homes, offices or even outside the country.

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This service also provides you with facility to open a new account online. You can get online forms and
you have to fill the form and submit them. When you will have an online account with banks, they deal
with your other matters and you are free of worries to go bank to solve your money problems. So online
service solves your all problems and you do not have to go out for consultancy. You just have to login
from home that is why it is encouraged day by day and more people are using their online banking
services because it is easy to access and you do not have to face the worries of uniting in queues and
waiting rooms for your toms. In fact, you can have the instant and fastest transactions by simply clicking
the buttons.

That is why the concept of online banking is getting better and better day by day, as the Banking industry
is changing and Internet banking is evolving, a new kind of banking industry may be starting to blossom -
- the Global Internet Banking. This new-born is the result of the factors illustrated in and can be defined
as trying to add the missing link to Internet banking. Indeed while Internet banking providing the
possibility for its customers to have access to their account in every Internet connected comer of the
world, diverse and conflicting national regulations are making it difficult for Internet banks to reach every
customer in every comer of the world. Global Internet banking, as it is being pioneered today, is
attempting to circumvent those regulatory obstacles, in order to reach customers across different borders.
With regard to this, two important initiatives caught our attention during our analysis: (I) the failed
merger between First-e.com and Uno-e, to create FirstUno, the first global Internet bank, and (2) the joint
venture between HSBC and Merrill Lynch, which offers .Global Investment and Banking services.

Below, we will first look at Unofirst’s failed attempt, by analysing first-e-commerce Internet banking
strategy. Finally, in answer to our original question, we must conclude that Internet banking is not a
disruptive technology. Rather, the use Internet in banking represents the leveraging of an incredibly
efficient medium to provide a very cost and time efficient distribution channel. This is not to discount the
large, nascent opportunity for growth in this industry.

As B2B and B2C commerce continues to increase, and increasing amounts of people embrace wireless
financial service products there is fertile ground that can be reaped for great profits, by banks that
maintain a presence on the Internet.

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 2.2. National & International Scenario

(a) E-banking “Indian Perspective”

The Reserve Bank of India constituted a working group on Internet Banking. The group divided the
internet banking products in India into 3 types based on the levels of access granted. They are:

i) Information Only System:

General purpose information like interest rates, branch location, bank products and their features, loan
and deposit calculations are provided in the banks website. There exist facilities for downloading various
types of application forms. The communication is normally done through e-mail. There is no interaction
between the customer and bank's application system. No identification of the customer is done. In this
system, there is no possibility of any unauthorized person getting into production systems of the bank
through internet.

ii) Electronic Information Transfer System:

The system provides customer- specific information in the form of account balances, transaction details,
and statement of accounts. The information is still largely of the 'read only' format. Identification and
authentication of the customer is through password. The information is fetched from the bank's
application system either in batch mode or off-line. The application systems cannot directly access
through the internet.

iii) Fully Electronic Transactional System:

This system allows bi-directional capabilities. Transactions can be submitted by the customer for online
update. This system requires high degree of security and control. In this environment, web server and
application systems are linked over secure infrastructure. It comprises technology covering
computerization, networking and security, inter-bank payment gateway and legal infrastructure.

Automated Teller Machine (ATM)

ATM is designed to perform the most important function of bank. It is operated by plastic card with its
special features. The plastic card is replacing cheque, personal attendance of the customer, banking hour’s
restrictions and paper based verification. There are debit cards. ATMs used as spring board for Electronic
Fund Transfer. ATM itself can provide information about customers account and also receive instructions
from customers - ATM cardholders. An ATM is an Electronic Fund Transfer terminal capable of
handling cash deposits, transfer between accounts, balance enquiries, cash withdrawals and pay bills. It
16
may be on-line or 0ff-line. The on-line ATN enables the customer to avail banking facilities from
anywhere. In off-line the facilities are confined to that particular ATM assigned. Any customer
possessing ATM card issued by the Shared Payment Network System can go to any ATM linked to
Shared Payment Networks and perform his transactions.

Credit Cards/Debit Cards

The Credit Card holder is empowered to spend wherever and whenever he wants with his Credit Card
within the limits fixed by his bank. Credit Card is a post-paid card. Debit Card, on the other hand, is a
prepaid card with some stored value. Every time a person uses this card, the Internet Banking house gets
money transferred to its account from the bank of the buyer. The buyers account is debited with the exact
amount of purchases. An individual has to open an account with the issuing bank which gives debit card
with a Personal Identification Number (PIN). When he makes a purchase, he enters his PIN on shops PIN
pad. When the card is slurped through the electronic terminal, it dials the acquiring bank system - either
Master Card or VISA that validates the PIN and finds out from the issuing bank whether to accept or
decline the transactions. The customer can never overspend because the system rejects any transaction
which exceeds the balance in his account. The bank never faces a default because the amount spent is
debited immediately from the customer’s account.

Smart Card

Banks are adding chips to their current magnetic stripe cards to enhance security and offer new
service, called Smart Cards. Smart Cards allow thousands of times of information storable on magnetic
stripe cards. In addition, these cards are highly secure, more reliable and perform multiple functions. They
hold a large amount of personal information, from medical and health history to personal banking
and personal preferences.

You can avail the following services through E-Banking.

E-banking Transactions

The following are some of the basic functions in Internet Banking: Account Enquiry Fund Transfer
Payment of Electricity, Water and Telephone bills online payment for transactions actually performed
through Internet Request for issuance of cheque books, demand drafts etc. Statement of accounts Access
to latest schemes Access to rates of interest and other service charges.

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Bill payment service

You can facilitate payment of electricity and telephone bills, mobile phone, credit card and insurance
premium bills as each bank has tie-ups with various utility companies, service providers and insurance
companies, across the country. To pay your bills, all you need to do is complete a simple one-time
registration for each biller. You can also set upstanding instructions online to pay your recurring bills,
automatically. Generally, the bank does not charge customers for online bill payment.

Fund transfer

You can transfer any amount from one account to another of the same or any another bank. Customers
can send money anywhere in India. Once you login to your account, you need to mention the payees
account number, his bank and the branch. The transfer will take place in a day or so, whereas in a
traditional method, it takes about three working days. ICICI Bank says that online bill payment service
and fund transfer facility have been their most popular online services.

Credit card customers

With Internet banking, customers can not only pay their credit card bills online but also get a loan on their
cards. If you lose your credit card, you can report lost card online.

Railway pass

This is something that would interest all the aam-janta. Indian Railways has tied up with ICICI bank and
you can now make your railway pass for local trains online. The pass will be delivered to you at your
doorstep. But the facility is limited to Mumbai, Thane, Nasik, Surat and Pune.

Investing through Internet banking

You can now open an FD online through funds transfer. Now investors with interlinked demat account
and bank account can easily trade in the stock market and the amount will be automatically debited from
their respective bank accounts and the shares will be credited in their demat account. Moreover, some
banks even give you the facility to purchase mutual funds directly from the online banking system.

Nowadays, most leading banks offer both online banking and demat account. However if you have your
demat account with independent share brokers, then you need to sign a special form, which will link your
two accounts.

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Recharging your prepaid phone

Now just top-up your prepaid mobile cards by logging in to Internet banking. By just selecting your
operator's name, entering your mobile number and the amount
forrecharge, your phone is again back in action within few minutes.

Shopping

With a range of all kind of products, you can shop online and the payment is also made conveniently
through your account. You can also buy railway and air tickets through Internet banking.

Advantage of Internet banking

As per the Internet and Mobile Association of India's report on online banking 2006, "There are many
advantages of online banking. It is convenient, it isn't bound by operational timings, there are no
geographical barriers and the services can be offered at a miniscule cost. "Through Internet banking, you
can check your transactions at any time of the day, and as many times as you want to, where in a
traditional method, you get quarterly statements from the bank. If the fund transfer has to be made
outstation, where the bank does not have a branch, the bank would demand outstation charges. Whereas
with the help of online banking, it will be absolutely free for you. The following advantages are available
through Internet banking

(i) Round the clock banking:

E-banking facilitates performing basic banking transactions by customers round the clock
globally. In fact there are no restricted office hours for E-banking.

(ii) Convenient Banking:

Customers can perform basic banking transactions by simply sitting at their office or at home
through PC or LAPTOP. No personal visit to the branch is required for routine basic
transactions.

(iii) Low Cost Banking:

The operational costs have come down due to technology adoption. The cost of transactions
through internet banking is much less than any other traditional mode. There is also much
saving on the cost of infrastructure as the banks can have access to a greater number of
potential customers without the commitment costs of physically opening branches. Moreover,
requirements of staff at the banks get reduced to a greater extent.
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 (iv) Profitable Banking:

The increased speed of response to customer requirements can enhance customer satisfaction
and consequently can lead to higher profits as a result of handling more number of customer
accounts.

(v) Quality Banking:

Internet banking allows the possibility of improved quality and an enlarged range of services
being made available to customers.

(vi) Speed Banking:

The increased speed of response to customer requirements will lead to greater customer
satisfaction and handling a large number of transactions at a lesser time. Thus, it increases the
customers' convenience to a greater extent and facilitates better customer retention.

(vii) Service Banking:

Banks can also offer many cash management products. Instant credit, one day credit,
immediate payment of utility bills, instant transfer of funds etc., is possible under E-banking.

Security Precautions

The most common fear in e-banking or net banking is that of security. Most people avoid Net banking
because they fear their account will be broken into by hackers. “I don’t transfer funds electronically
because there is a risk factor involved,” says Sanjay Roy, a Pune based businessman. But if some basic
precautions are taken (like not revealing your password to anyone, ensuring that you are properly logged
out after you finish, not keeping the transaction webpage on your list of favourites, avoiding the use of
cybercafé when banking), there is little reason to fear.

Customers should never share personal information like PIN numbers, passwords etc. with anyone,
including employees of the bank. It is important that documents that contain confidential information are
safeguarded. PIN or password mailers should not be stored, the PIN and/or passwords should be changed
immediately and memorized before destroying the mailers. Customers are advised not to provide
sensitive account-related information over unsecured e-mails or over the phone. Take simple precautions
like changing the ATM PIN and online login and transaction passwords on a regular basis. Also ensure
that the logged in session is properly signed out. Banks are coming up with variety of innovations to
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speed up security at every stage of transaction. While ICICI Bank has launched a new grid-based debit
card, PNB has introduced a virtual keyboard that can be used to key in your login credential, thus
defeating keyboard logging software, which may have been installed on the computer you are using.

HDFC Bank, on the other hand, has introduced Net Safe, a unique security solution that allows you to
shop online through a virtual credit card. And Kotak Mahindra Bank has worked towards generating a
virtual pre-set credit card that will let you e-shop within a 24-hour window. The validity of this virtual
card expires after 24 hours, and any unused balance is transferred back to your bank account.

Factors favouring the growth of e-banking in India

According to a study done by IBM Global Services Consulting Group, the cost of providing phone and
Internet-based banking services is 25% of what traditional banking costs. Standard Chartered Bank’s
Gupta goes so far as to claim that traditional banking is eight times more expensive than online banking,
and mobile banking. Therefore, newer banks are promoting hi-tech banking to reduce their costs. Some
banks are entirely virtual, and immensely successful at that, ING Direct being the best example. When the
ING Group decided to start retail banking operations outside the Netherlands (not yet in India though), it
opted for the direct banking route instead of building or buying branch networks. Twelve years on, ING
Direct has 17.5 million customers in nine countries. While purely virtual banks may be a pipe dream in
the Indian context, at least for a long time, nobody is denying the need to adopt e-banking channels side-
by-side with branch expansion. Public sector banks, traditionally slow in adopting new technology, too
are in sync with the time. Says Jagmandir Singh, a branch manager with SBI, “Today there is no business
left for which you will have to come to the branch. About 60% of our customers in urban areas prefer to
bank from home.”

Internet Banking – Financial melt down

Dr D Subbarao, RBI Governor has listed major challenges facing the banking system in the country,
particularly in the wake of the global financial crisis. According to him, the global financial situation
continues to be uncertain and unsettled. What started off as a sub-prime crisis in the US housing mortgage
sector has turned successively into a global banking crisis, global financial crisis and now a global
economic crisis. The government will have to instil confidence in masses to encourage bank deposits.
Banks should open more branches all over India especially in Western parts of India. Information
Technology (IT) solutions should be explored for providing a back bone of credit information, customer
information apart from facilitating more efficient credit delivery and reducing cost of payments and
remittances.

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(b) E-banking “International perspective”

The advent of Internet has initiated an electronic revolution in the global banking sector. The dynamic
and flexible nature of this communication channel as well as its ubiquitous reach has helped in leveraging
a variety of banking activities. New banking intermediaries offering entirely new types of banking
services have emerged as a result of innovative e-business models. The Internet has emerged as one of the
major distribution channels of banking products and services, for the banks in US and in the European
countries. Initially, banks promoted their core capabilities i.e., products, services and advice through
Internet. Then, they entered the e-commerce market as providers/distributors of their own products and
services. More recently, due to advances in Internet security and the advent of relevant protocols, banks
have discovered that they can play their primary role as financial intermediators and facilitators of
complete commercial transactions via electronic networks especially through the Internet. Some banks
have chosen a route of establishing a direct web presence while others have opted for either being an
owner of financial services centric electronic marketplace or being participants of a non-financial services
centric electronic marketplace. The trend towards electronic delivery of banking products and services is
occurring partly as a result of consumer demand and partly because of the increasing competitive
environment in the global banking industry. The Internet has changed the customers' behaviours who are
demanding more customized products/services at a lower price. Moreover, new competition from pure
online banks has put the profitability of even established brick and mortar banks under pressure.
However, very few banks have been successful in developing effective strategies for fully exploiting the
opportunities offered by the Internet. For traditional banks to define what niche markets to serve and
decide what products/services to offer there is a need for a clear and concise Internet commerce strategy.
Banking transactions had already started taking place through the Internet way back in 1995. The Internet
promised an ideal platform for commercial exchange, helping banks to achieve new levels of efficiency in
financial transactions by strengthening customer relationship, promoting price discovery and spend
aggregation and increasing the reach. Electronic finance offered considerable opportunities for banks to
expand their client base and rationalize their business while the customers received value in the form of
savings in time and money.

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Global E-banking industry is covered by the following four sections:

E-banking Scenario: It discusses the actual state, prospects, and issues related to E-banking in Asia
with a focus on India, US and Europe. It also deals with the impact of E-banking on the banking industry
structure.

E-banking Strategies: It reveals the key strategies that banks must implement to derive maximum
value through the online channel. It also brings guidance for those banks, which are planning to build
online businesses.

E-banking Transactions: It discusses how Internet has radically transformed banking transactions.
The section focuses on cross border transactions, B2B transactions, electronic bill payment and
presentment and mobile payments. In spite of all the hype, E-banking has been a non-starter in several
countries.

E-banking Trends: It discusses the innovation of new technologies in banks.

E-BANKING SCENARIO:

The banking industry is expected to be a leading player in E-business. While the banks in developed
countries are working primarily via Internet as non-branch banks, banks in the developing countries use
the Internet as an information delivery tool to improve relationship with customers.

In early 2001, approximately 60 percent of E-business in UK was concentrated in the financial services
sector, and with the expected 10-fold increase of the British E-business market by 2005, the share of the
financial services will further increase. Around one fifth of Finish and Swedish bank customers are
banking online, while in US, according to UNCTAD, online banking is growing at an annual rate of 60
percent and the number of online accounts has approximately reached 15 million by 2006.

Banks have established an Internet presence with various objectives. Most of them are using the Internet
as a new distribution channel. Financial services, with the use of Internet, may be offered in an equivalent

23
quantity with lower costs to the more potential customers. There may be contacts from each corner of the
world at any time of day or night. This means that banks may enlarge their market without opening new
branches. The banks in US are using the Web to reach opportunities in three different categories i.e., to
market information, to deliver banking products and services, and to improve customer relationship.

In Asia, the major factor restricting growth of E-banking is security, in spite of several countries being
well connected via Internet. Access to high-quality E-banking products is an issue as well. Majority of the
banks in Asia are just offering basic services compared with those of developed countries. Still, E-
banking seems to have a future in Asia. It is considered that E-banking will succeed if the basic features,
especially bill payment, are handled well. Bill payment was the most popular feature, cited by 40 percent
of respondents of the survey. However, providing this service would be difficult for banks in Asia
because it requires a high level of security and involves arranging transactions with a variety of players.

In 2001, over 50 percent of the banks in the US were offering E-banking services. However, large banks
appeared to have a clear advantage over small banks in the range of services they offered. Some banks in
US were targeting their Internet strategies towards business customers. Apart from affecting the way
customers received banking services; E-banking was expected to influence the banking industry structure.
The economics of E-banking was expected to favour large banks because of economies of scale and
scope, and the ability to advertise heavily. Moreover, E-banking offered entry and expansion
opportunities that small banks traditionally lacked.

In Europe, the Internet is accelerating the reconfiguration of the banking industry into three separate
businesses: production, distribution and advice.

This reconfiguration is being further driven by the Internet, due to the combined impact of:

 The emergence of new and more focused business models

 New technological capabilities that reduces the banking relationship and transaction costs.

 High degree of uncertainty over the impact that new entrants will have on current business
models.

Though E-banking in Europe is still in the evolutionary stage, it is very clear that it is having a significant
impact on traditional banking activities. Unlike in the US, though large banks in the Europe have a
competitive edge due to their ability to invest heavily in new technologies, they are still not ready to
embrace E-banking. Hence, medium-sized banks and start-ups have an important role to play on the E-
banking front if they can take concrete measures quickly and effectively.
24
E-BANKING STRATEGIES

Though E-banking offers vast opportunities, yet even less than one in three banks have an E-banking
strategy in place. According to a study, less than 15 percent of banks with transactional websites will
realize profits directly attributable to those sites. Hence, banks must recognize the seriousness of the
challenge ahead and develop a strategy that will enable them to leverage the opportunities presented by
the Internet.

No single E-banking strategy is right for every banking company. But whether they adopt an offensive or
a defensive posture, they must constantly re-evaluate their strategy. In the fast-paced e-economy, banks
have to keep up with the constantly evolving business models and technology innovations of the Internet
space. Early e-business adopter like Wells Fargo not only entered the E-banking industry first but also
showed flexibility to change as the market developed. Not many banks have been as e-business-savvy.
But the pressure is now building for all banks to develop sound e-business strategies that will attract and
retain increasingly discriminating customers.

The major problem with the banks, which have already invested huge amounts in their online initiatives,
is that their online offerings remain unprofitable. Though banks have enrolled some existing customers in
their online programs, they are not getting customers in large numbers. This has made banks wonder
whether there is any value in the online channel. Just enrolling customers for online banking may not be
sufficient until and unless they use the site actively. Banks must make efforts to increase their site usage
by customers and effectively co-ordinate the online channel with branches and call centers. Then only
they will be able to derive maximum value that includes cost reduction, cross-selling opportunities, and
higher customer retention.

Customers have some rational reasons for staying offline. Some of these reasons include usability features
of the site, concerns about security and frequent complaints that signing up is complicated and time-
consuming. Banks can solve these problems by refocusing investment on improving the site's basic
functionality and user-friendliness, and avoiding advanced features that most customers neither
understand nor value. Developing advanced features that appeal to a relatively small numbers of
customers, creates far less value than strengthening core capabilities and getting customers to use them.
Banks must make efforts to familiarize customers with their sites and show them how easy and efficient
the online channel is to use.

Integrating the online channel with the rest of the bank is another important issue that banks must focus
upon. This is important because nearly all the value of the online channel is realized offline _ in cross

25
sales completed in other channels and in cost reductions. An actively used online channel should also
serve as a medium to sell banking services for the branch staff, the call center, and the relationship
manager. Integrated channels working together are far more effective than a group of channels working
without any coordination.

To facilitate this integration, banks must formulate paths that people in various customer segments are
likely to take among the channels. The interactions in each channel can then be worked around these
paths. For example, a call center representative must work out which channel(s) the customer used before
coming to her, and which channel(s) the customer is likely to visit next. Each channel must have entry
and exit points that must welcome customers and then send to other channels. Hence, the overall goal of
banks is to create a seamless multichannel experience.

On the other hand, those banks that are planning to build their online businesses will have to understand
several strategic issues like do they have the right business model for E-banking? How should they price
their E-banking products and services? Bankers planning to move into E-banking have to explore
different options, make investments and have to develop a variety of partnerships. They have to put their
time and efforts to identify the best opportunities. In the case of traditional banks, if they are too
aggressive in using price incentives to build their e-business, they risk the profitability of their traditional
business. However, if they do not offer sufficient price incentives for customers to bank online their
efforts to build a sound e- banking business may not fructify.

Banks have to be creative in rethinking organizational structures and management processes. Traditional
banks that are conservative in nature may find it difficult to attract and retain online talent. Moreover,
getting people in the traditional business to help build an e-enterprise would not be an easy task. To make
all this happen, requires a major revision of incentive systems, planning and budgeting processes, and
management roles. Banks can exploit the opportunities provided by the Internet if they demonstrate
courage, use their imagination, and take decisive action.

While most of the banks have started focusing on E-banking activities, a new challenge in the form of
mobile banking has emerged. M-Banking is both an additional opportunity for banks to offer their online
services and an additional channel from which to access new customers and cross-sell to existing
customers. Rapidly changing lifestyles of customers and their demand for more speed and convenience
has subdued the role of branch banking to a certain extent. With the proliferation of new technologies,
dis-intermediation of traditional channels is being witnessed. Banks can go beyond their traditional role
as a channel for banking/financial services and can become providers of personalized information.

26
They can successfully leverage m-banking to:

Provide personalized products and services to specific customers and thus increase customer loyalty.

Exploit additional sources of revenue from subscriptions, transactions and third-party referrals.

M-Banking gives banks the opportunity to significantly expand their customer relationships provided they
position themselves effectively. To leverage these opportunities, they must form structured alliances with
service affiliates, and acquire competitive advantage in collecting, processing and deploying customer
information

E-BANKING TRANSACTIONS

The introduction of new technologies has radically transformed banking transactions. In the past,
customers had to come physically into the bank branch to do banking transactions including transfers,
deposits and withdrawals. Banks had to employ several tellers to physically make all those transactions.
Automatic Teller Machines (ATMs) were then introduced which allowed people to do their banking on
their own, practically anytime and anywhere. This helped the banks cut down on the number of tellers and
focus on managing money. The Internet then brought another venue with which customers could do
banking, reducing the need for ATMs. Online banking allowed customers to do financial transactions
from their PCs at home via Internet. Now, with the emergence of Wireless Application Protocol (WAP)
technology, banks can use the infrastructure and applications developed for the Internet and move it to
mobile phones. Now people no longer have to be tied to a desktop PC to do their banking. The WAP
interface is much faster and convenient than the Internet, allowing customers to see account details,
transaction details, make bill payments, and even check credit card balance.

The cost of the average payment transaction on the Internet is minimum. Several studies found that the
estimated transaction cost through mobile phone is 16 cents, a fully computerized bank using its own
software is 26 cents, a telephone bank is 54 cents, a bank branch, $1.27, an ATM, 27 cents, and on the
Internet it costs just 13 cents. As a result, the use of the Internet for commercial transactions started to
gain momentum in 1995. More than 2,000 banks in the world now have transactional websites and the
growth of online lending solutions is making them more cost efficient. Recent developments are now
encouraging banks to target small businesses as a separate lending category online.

27
Banks are increasingly building payment infrastructure with various security mechanisms (SSL, SET)
because there is tremendous potential for profit, as more and more payments will pass through the
Internet. However, the challenge for banks is to offer a payments back-bone system that will be open
enough to support multiple payment instruments (credit cards, debit cards, direct debit to accounts,

e-checks, digital money etc.) and scalable enough to allow for a stable service regardless of the workload.

The market for Electronic Bill Presentment and Payment (EBPP) is growing. According to a study, 18
million households in the US are expected to pay their bills online by 2003 compared to 2 million
households in 2001. As more number of bill payers are getting online, several banks are making efforts to
find ways to meet the growing needs of EBPP. Established banks can emerge as key online integrators of
customer bills and can capitalize on this high potential market. Growing with the popularity of EBPP is
also the paying of multiple bills at a single site known as bill aggregation. Offering online bill payment
and aggregation will increase the competitiveness and attractiveness of E-banking services and will allow
banks to generate service-fee income from the billers.

In the B2B segment, the customer value proposition for online bill payment is more compelling. B2B e-
commerce is expected to grow from $406 bn in 2000 to $2.7 tn by 2004, and more than half of all
transactions will be routed through online B2B marketplaces. There is a need for automated payment
systems to reduce cost and human error, and enhance cash-flow management. To meet this need, a group
of banks and non-financial institutions led by Citibank and Wells Fargo have formed a company called
Financial Settlements Matrix (FSMx). It provides business buyers and sellers with access to secure
payment processing, invoicing and other services that participating financial services firms offer.

A B2B marketplace would provide minimum value to its customers if it just matches buyers and sellers,
leaving the financial aspects of transactions to be handled through traditional non-Internet channels.
Hence, the marketplace must be capable of providing the payments processing, treasury management
services, payables/receivables data flows, and credit solutions to complete the full cycle of a commercial
transaction on the Internet. The web-based B2B e-commerce offers tremendous opportunities for banks,
payment technology vendors and e-commerce companies to form strategic alliances. This new form of
collaboration between partners with complementary core competencies may prove to be an effective
business model for e-business.

E-BANKING TREND

Internet banking is gaining ground. Banks increasingly operate websites through which customers are
able not only to inquire about account balances and interest and exchange rates but also to conduct a
range of transactions. Unfortunately, data on Internet banking are scarce, and differences in definitions

28
make cross-country comparisons difficult. Even so, one finds that Internet banking is particularly
widespread in Austria, Korea, the Scandinavian countries, Singapore, Spain, and Switzerland, where
more than 75 percent of all banks offer such services (see chart). The Scandinavian countries have the
largest number of Internet users, with up to one-third of bank customers in Finland and Sweden taking
advantage of E-banking.

In the United States, Internet banking is still concentrated in the largest banks. In mid-2001, 44 percent of
national banks maintained transactional websites, almost double the number in the third quarter of 1999.
These banks account for over 90 percent of national banking system assets. The larger banks tend to offer
a wider array of electronic banking services, including loan applications and brokerage services. While
most U.S. consumers have accounts with banks that offer Internet services, only about 6 percent of them
use these services.

To date, most banks have combined the new electronic delivery channels with traditional brick and
mortar branches ("brick and click" banks), but a small number have emerged that offer their products and
services predominantly, or only, through electronic distribution channels. These "virtual" or Internet-only
banks do not have a branch network but might have a physical presence, for example, an administrative
office or non-branch facilities like kiosks or automatic teller machines. The United States has about 30
virtual banks; Asia has 2, launched in 2000 and 2001; and the European Union has several—either as
separately licensed entities or as subsidiaries or branches of brick and mortar banks.

29
 Chapter 3:

PRESENTATION & DATA ANALYSIS:

3.1. Presentation of data:

Online payments have become a part of our daily lives in no time. We’re transacting online not only
through debit or credit cards but through numerous other modes like UPI, net-banking and wallets as
well.

Paying online is a fundamental feature that every e-commerce platform in the world offers. And they can
provide this facility by integrating with a payment gateway.

Online payments are swift and convenient. They allow you to buy products and services from all over the
world. If you are a seller, you can sell to anyone in the world with a decent internet connection. Your
customer doesn’t even need to have a computer; a smartphone is enough.

According to the most recent studies of WorldPay, the percentage of using eWallet on eCommerce
platforms is 36% and on POS is 16%. And the usage percentages are rising each year. For example, in
the U.S. in 2016, there were 232 million smartphones in use out of which 16.5% were used to make a
contactless payment the same year (Juniper Research). In 2018, that number rose to 20%.

It is visible that mobile wallets are taking over the usual payment methods but which ones are the best?
For merchants, they only need an NFC enables POS terminals in their shops, but for consumers we are
going to drill down everything they need to know about the two most popular ones – Google Pay and
Apple Pay – as well as their pros and cons.

While each platform serves virtually the same function, each one is slightly different with its own
strengths and weaknesses. And despite the adoption rates, use of these mobile payment platforms is
growing as the support infrastructure for them – mainly contactless POS systems – is adopted by more
merchants as payment schemes are pushing this initiative through regional compliance/mandate requests.

30
Here are some of the popular e-banking services that allow online payment:

PayPal

PayPal is perhaps the best known of these services — though that has been changing in recent years.
PayPal has long been the go-to for online shopping, and the fact that it can be used to transfer money
between friends is simply a bonus.

PayPal’s interface is extremely easy to use, largely thanks to a major redesign. Simply open up your
PayPal account, press the “send money” button, and follow the instructions — it only takes a few seconds
to send money. The Paypal.me Initiative has made sending money even easier. If you have your friend’s
PayPal.me link, simply follow the link and enter how much you want to pay them.

What PayPal has going against it, however, isn’t related to its ease of use. Out of the five services, PayPal
is the most expensive, if you don’t want to connect the service to your bank account. Now, we would
highly recommend connecting it to your bank account anyway, as it makes things a lot easier if you
happen to lose your debit or credit card or when you get a new one. However, if you choose not to,

31
PayPal will be one of the most expensive services for you. Not only does it charge a 2.9% fee for money
sent from a debit or credit card, but it also charges an extra 30 cents on top of that.

One advantage is that PayPal allows the largest transactions of the bunch, tied with Apple Pay Cash and
Google Pay. Using PayPal, you can transfer up to a hefty $10,000. Most people won’t need that — but
it’s nice to have in case you do.

Like some of the other services on our list, PayPal won’t transfer money directly to your bank unless you
manually do it. Instead, money will sit in your PayPal account and can be used for purchases or sent to
your bank, as you see fit. Also, PayPal Credit users might prefer PayPal, as it eliminates the need to have
any extra accounts.

Google Pay

Google Pay is one of the cheapest services on the list — there are no fees to use debit cards or make bank
transfers, though you will pay a 2.9% fee for credit cards. It can transfer as much money as PayPal, with
the maximum amount per transaction set at $10,000.

What really sets Google Pay apart from the rest, however, is its integration with other Google services. In
Gmail, for instance, you can request money simply by pressing the little dollar sign in the toolbar under a
message. You can even send money through Android Messages, the default texting service on most

32
Android phones, and it will show up in Google Pay. If you have a Google Home smart speaker, you can
ask it to send over money to a friend through Google Pay. If you choose to use the actual Google Pay app
instead, sending money is as simple as pressing on the option and entering your recipient’s email address
or phone number. You can also use your fingerprint sensor or Face ID to unlock the app.

Transferring money into your bank account could take up to three days, but it’s instant when you’re
sending it to a debit card.

The app can also be used to make contactless payments, and it can store loyalty or gift cards or even flight
and concert tickets. If you just want to send money to friends and family, you can check out Google Pay
Send, which only offers peer-to-peer transactions.

Venmo

Venmo has grown a lot more popular over the past few years, becoming the preferred way for many
people to transfer cash to their friends. In fact, Venmo has become a verb — “Venmo me!” After creating
your account, you’ll be asked to add people to your friends list, which makes it easier to transfer money
the next time you need to do so.

33
There are a few things to keep in mind when using Venmo, however. For example, the team behind it has
tried to make the service highly social, which may frustrate some. When you send money, you’ll have the
option to make the transaction public, and while you most likely don’t want or need to do this, you’ll
have to be careful to not accidentally select the wrong option.

Like other services, when someone sends you money, it sits in your Venmo account — it can be sent to
others or transferred to your bank account by “checking out.” It’s free to use Venmo with a debit card. It
will still cost you 2.9% to use a credit card, but if you’re not too fond of linking a service to your bank
account, it might be nice for you to not have to pay a fee for each transaction. Not only that, but Venmo
says that money will be transferred to your bank account within one business day, which is pretty quick.
Venmo recently added an option to instantly send money to your debit card for 25 cents; there’s still a
free option, but it’s not as fast.
Venmo is obviously meant to be used for everyday transactions, and as such, it sets a weekly limit of just
under $5,000. It’s still a lot of money, sure, but you won’t be using Venmo to send a huge amount of cash
like Apple Pay Cash or PayPal.

Cash App:

Next up on our list is Cash App, built by Square, which is perhaps best known for its point-of-sale
systems for the iPad and iPhone. At first glance, you might have trouble seeing why you would want to
opt for Cash App over other services, but it does have one unique selling point — you don’t have to set
up an account to use it. However, you will need to verify your identity to lift the minuscule daily
spending limit of $250.

34
To request cash, select a name from your contact list, or enter their email address or phone number. Enter
what the money is for, and enter the number. Once the request is received, both parties will need to
confirm their banking information, and the transfer will go through. Once the bank information has been
entered, Square claims that the transaction should be completed within two business days.

Apple Pay Cash

Unlike the other services on this list, you may already have Apple Pay Cash, which rolled out as part of
iOS 11.2, if you have an iPhone. That means you don’t need to download another app in order to transfer
money to or from fellow iPhone owners.

One of the best things about Apple Pay Cash is that it’s well-integrated with iOS, and as long as you have
set up Apple Pay with a credit or debit card, you can quickly and easily send money through the
Messages app. To send or receive money, open up a thread in the Messages app, hit the Apple Pay icon
on the keyboard, choose the amount, and hit the “Request” or “Pay” button.

Fees, transfer times, and limits are pretty good with Apple Pay Cash. You’ll be able to transfer up to
$10,000, and will incur a 3% fee when using a credit card. Once you have money in your account, you
can transfer it to your actual bank account in one to three business days.

There are a few downsides to Apple Pay Cash, the main one being that it’s only compatible with iOS —
so you won’t be able to use it with people on Android — and there’s no desktop interface.

35
 3.2. Analysis & Findings:

Here’s a quick comparison between these e-banking services:

PayPal Google Pay Venmo Cash App Apple Pay Cash

Compatibility Android, iOS, Android, iOS, Android, iOS, Android, iOS, iOS
Web Web Web Web

Payment Credit, debit, Credit, debit Credit, debit Credit, debit Credit, debit card
methods bank transfer card, bank card, bank card
transfer transfer

Credit fee 2.9% + $0.30 2.9% 3% 3% 3%

Debit fee 2.9% + $0.30 Free Free (1% for Free Free
instant
transfers)

Bank Free Free Free Free (1.5% for Free

transfer fee instant
transfers)

Withdrawal Around 1-3 Around 1-3 Usually 1 Around 1-2 Around 1-3
speed business days business days business day business days business days

Transfer $10,000 $10,000 $4,999.99 $7,500 $10,000

limits

Special PayPal.me Integration Quick No need to set Automatically

features shareable links with other transfers to up an account available in iOS
Google banks
services

36
Now, here is an analysis of the banking institutions which provide e-banking through mobile and
Internet banking for your savings/current account:

Q1) Do you have a knowledge on e-banking?

37
Q2) Do you use e-banking?

38
Q3) How often do you use e-banking?

39
Q4) Which bank do you prefer?

40
Q5) Which of the following e-banking service are you aware of?

41
Q6) Do you feel e-banking system of the bank is customer friendly?

42
Q7) Do you think it saves time?

43
Q8) Do you think e-banking is safe?

44
Q9) How banks provide e-banking details to you?

45
Q10) Do you trust the security of online banking service?

46
Q11) Do you think human contact is important for banking relation?

47
Q12) What are the main disadvantage of visiting bank branch?

48
Q13) Have you ever visited your bank branch since you started online banking?

49
Q14) Are you satisfied with using e-banking?

50
 Chapter 4:

CONCLUSION & RECOMMENDATION:

4.1. Conclusion:

The study attempted to identify key quality attributes of internet banking services by analysing, internet
banking customers & their comments on banking experience. The findings of this study show that despite
of many advantages of online banking. People still consider it as an alternative for analysing their bank
records. Although every bank today provides the facility of online banking but most of people use it only
once a month. This reason is that in case of internet banking interpersonal interaction with customers is
seldom possible. Identification & measurement of customer's expectations of the internet banking
services provide a frame of reference & their related quality dimension.

The main factors which persuade people to use online banking are comfort & convenience & the facility
which attract them most is quality & quantity of information. Therefore, the implementation of quality
initiatives should begin with defining customer's need & preferences & their related quality dimensions.

There is still a lot needed for the banking system to make reforms and train their customers for using
internet for their banking account. Going through the survey the main problem lies that still customer
have a fear of hacking of account and thus don’t go on for internet banking. Banks are trying their level
best by providing the best security options to the customers but then to there is lot of factors which
betrays a customer from opening an internet bank account.

Banks are providing free internet banking services also so that the customers can be attracted. By asking
the bank employees we came to know that maximum numbers of internet bank account holders are youth
and businessmen. E-Banking is an innovative tool that is fast becoming a necessity. It is a successful
strategic weapon for banks to remain profitable in a volatile and competitive market place of today. If
proper training should be given to customer by the bank employees to open an account will be beneficial.
Secondly, the website should be made friendlier from where the first time customers can directly make
and access their accounts. In the coming future, the availability of technology to ensure safety and privacy
of e-transactions and the RBI guidelines on various aspects of internet banking will definitely help in
rapid growth of internet banking in India.
51
 4.2. Recommendation:

We can see the time is changing and with the passage of time people are accepting technology there is
still a lot of perceptual blocking which hampers the growth, it's the normal tendency of a human not to
have changes work on the old track, that's also one of the reason for the slow acceptance of internet
banking account.

To FastTrack this process efficiently, it’s recommended that:

• Banks should obey the RBI norms and provide facilities as per the norms. Which are not being followed
by the banks. While the customer must be given the prompt services and the bank officer should not have
any fear on mind to provide the facilities as per RBI norms to the units going sick.

• Internet banking facility must be made available in all branches of these Banks.

• Each section of these Banks should be computerized even in rural areas also.

• Personalized banking should be given a thrust as more and more banks are achieving in usual services.

• Covering up the towns in rural areas with ATMs so that the people in those areas can also avail better
services.

• Prompt dealing with permanent customers and speedy transactions without harassing the customers.

• Fair dealing with the customers. More contributions from the employees of the bank. The staff should
be co-operative, friendly and must be capable of understanding the problems of the customers.

52
 CHAPTER 5

BIBLIOGRAPHY & REFERENCES:

lernecs.weebly.com

digitaltrends.com

mercury-processing.com

thebalance.com

marketwatch.com

smallbusiness.chron.com

valuewalk.com

studymode.com

Images:
Images.google.com

Periodic references:
en.wikipedia.com

53
 CHAPTER 6

ANNEXURES:

Sample Questionnaire:

Name of Participant:- Age:- Occupation:-

Address:-

Contact No:- E-mail:-

Q 1) Do you have a knowledge on E-banking?

Yes
No

Q2) Do you use E-banking?

Yes
No

Q3) How often do you use e-banking?

Daily
Weekly
Monthly
Never
54
Q4) Which bank do you prefer?

SBI
ICICI
HDFC
MCIS
Other

Q5) Why this bank?

Service is good
They provide security
Cheaper service Fees

Q6) Which of the following E-Balancing service are you aware of?

Internet Banking
Mobile Banking
Phone Banking
Debit Cards

Q7) Do you feel E-Banking system of the bank is customer friendly?

Yes
No

55
Q8) Do you think it saves time?

Yes
No

Q9) Do you think E-banking is safe?

Yes
No

Q 10) Any particular safety measure that your bank use?

Q 11) How banks provide E-Banking Details to you?

Via SMS
E-Mail
Brouchers
Others

12) Do you trust the security of online banking service?

Yes
No

Q 13) Do you think human contact is important for banking relation?

Yes
No

56
Q 14) What are the main disadvantage of visiting bank branch?

Waiting
Distance
Opening Times
Quality of Service

Q 15) Have you ever visited your bank branch since you started using online banking?

Yes
No

Q 16) Are you satisfied with using E-Banking?

Yes
No

57