Impact of online banking on customer retention strategies
By
ACKNOWLEDGEMENT
My thanks go out to all who have helped me complete this study and with whom this project may have not been possible. In particular, my gratitude goes out to friends, facilitator and family for extensive and helpful comments on early drafts. I am also deeply indebted to the authors who have shared my interest and preceded me. Their works provided me with a host of information to learn from and build upon, also served as examples to emulate.
DECLARATION
I, [names and surname here], declare that the contents of this dissertation/thesis represent my own unaided work, and that the dissertation/thesis has not previously been submitted for academic examination towards any qualification. Furthermore, it represents my own opinions and not necessarily those of the University.
Signed __________________ Date _________________
ABSTRACT
Advances in information technology and telecommunications are resulting in new delivery channels for bank products and services in the developing and the developed countries. As banks in developed and developing countries continue to be more advanced and innovative, banks in less developed countries are preparing to employ the electronic banking system. This study is focused on the application of value added services, in order to assist the customer retention strategies. For this purpose, the case of online banking has been taken into study and is researched upon. The study investigated whether the subscribers of online banking are satisfied with these services and tend to continue utilizing them for an indefinite time period. It also takes into account studying the various forms of value added services in the financial industry and elaborates upon their significance. Disseminating questionnaires to the bank customers and conducting a general survey from 40 participants has been undertaken has a data collection method for this study. Formulated research questions are tested statistically by employing the the SPSS tool. The primary purpose of this study was to discuss the impact of value added services such as online banking towards the customer retention strategies in the financial and banking institutions. Furthermore, by means of a survey to investigate the relationship, if any at all, between demographic characteristic and feelings towards e-banking, the study will highlight which are the most pressing online banking issues and the users comfort level with each option. The result of the analysis suggest that the customers, though concerned about the privacy online, prefer to utilize the online banking services for the reason that they are easy to manage, speedy and more sophisticated in nature.