Abstract
The current research investigates Prospects and challenges of Online Banking Services in Pakistan: A case Study of Karachi.Data were collected from 400 respondent using online banking practices in Karachi Sindh-Pakistan by using simple random technique. A structural Questionnaire was developed for the reliability and validity of data.In this study data of independent variable and dependent variable were collect from the customers of different banks of Karachi.It was revealed that the model tested clearly that use of online banking is influenced by channel convenience, perceived risk, security perception, prior internet knowledge and information on online banking. The results also determine that demographic factors also impact significantly on online banking. Finally, this paper suggests that an understanding the factors affecting intention to use internet banking is very important to the practitioners who plan and promote new forms of banking in the current competitive market
Highlights
According to Kayode (2008) said that customers can access different banking services such as transfer of funds from one account to another, do transactions of different banks customers and check their accounts balance through internet banking and e-commerce
Shanmugan.B and Guru.B.K. (2003) defines in way that the closely worldwide connectivity offered by internet has made IT an invaluable tool of business. These types of advancements have shaped a new type of economy, which may be called digital economy. This fast emerging economy is bringing with it rapidly changing technologies, created the awareness for all the areas of business and forming cybernetic supply chains and new methods of businesses and service delivery channels such as online banking.The term online banking/e-banking has been used in literature in various ways, to some extent electronic banking refers to several types of services through which bank‘s customers can request for the information and carry out most retail banking services through internet, television or cell phones
This research is based on five important factors that are Channel Convenience, Perceived Risk, Security Perception, and Prior Interne knowledge, Information about online banking
Summary
According to Kayode (2008) said that customers can access different banking services such as transfer of funds from one account to another, do transactions of different banks customers and check their accounts balance through internet banking and e-commerce. The most popular system in online banking system is ATM (automated teller machine) which helps the customer to carry out their banking transactions and avail all banking information Technology is playing very important role in the competitive era of financial industry. Internet banking and e-commerce is known as providing new services and products in banking sector. The sign for the recent home online banking services were distance banking services over the electronic media from the early 80s.The term online become known in late 80s and refers for the use of workstation, keyboard and TV (or Monitor) to access the banking organism usingthe phone line. Online services get started from New York in 1981when city‘s four major banks (Citibank, Chase, Manhattan, Chemical and Manufacturers Hanover) offered home banking services using videotext system.Videotexts system were well known system used in early 1970 to 1980, that provides the interactive content on a television to the end user of information in computer-like format
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