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kalwar.muhammad.ahmed@gmail.com

Challenges For Online Banking In Customers` Perspective: A Review

ABSTRACT

Purpose: This literature review was conducted with the purpose of highlighting the Barriers and challenges of banking with respect to customers` perspective

Methodology: This narrative literature review was based on secondary data which was obtained from the previously published, empirical studies, review papers and case studies. Recent research was reviewed for the organization of present research. The data/evidences which were collected form the research conducted in the past was organized into the tables and charts in MS excel.

Findings: The customers preserve their funds and money in bank for the future needs, businesses and for belongings and they want to be assured in terms of safety of their reservoirs.Therefore, it is of highest need to focus the transactional security on the e-banking phenomenon. There is number of customers who are using the services of internet banking so it when there is the question of challenges about e-banking; customer awareness should not be found in the answer but the lack of promotional events regarding the e-banking.

Importance: In the recent time, the development in technology has affected business organizations in several ways, most especially in terms of management and control; marketing and research; operations and decision making [1]. Financial system plays an important role in the economic development of the country [2]. The traditional mode of delivering products and services by banks to the consumers’ is through a single distribution channel and that is physical bank branches [3]. Nowadays, due to the advent of technology, banks provide their services physically through their branches and online channels as well; but in the way to implementation of online banking services, organizations i.e. banks face a lot of challenges. Contribution of this research is to highlight the challenges that have been faced by the organizations.

Limitations: Major limitation of present research is that every factor/challenge could not be discussed; in upcoming papers remaining factors will be focused and will be reviewed in detail.

Implications:The purpose of the bank is to assure safety to its customer and that is possible by the technical and justifying knowledge. There are some serious issues about internet banking such as lack of promotions about e-banking and legal and security issues, the reviews on the mentioned areas can be conducted for the clear understanding of the problem.

Originality: It was indicated from the literature review that most of the collected research papers were based on the bankers` perspective, country`s rules and regulations perspective, two banks` comparison perspective etc. Therefore, it is needed to be conducted the review in the customer perspective so that the customers` desires and way of looking at e-banking can be highlighted for the greater good of customers and the banking sector.