Information Technology in Customer Services in banking

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Acknowledgement

I would take this opportunity to thank my research supervisor, family and friends for their support and guidance without which this research would not have been possible.

DECLARATION

I, [type your full first 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.

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Abstract

In this study we try to explore the concept of “Information Technology” in a holistic context. The main focus of the research is on the use “ATMs, Mobile and Internet Banking” and the perception of the customers to use them. The research also develops a conceptual model and tries to gauge the effects and uses of the ATMs, Mobile and Internet Banking. Finally the research describes various factors which are responsible for the use of the technology in the banking industry and tries to describe the overall effect it has on the adoptability of the customers.

Table of Contents

ACKNOWLEDGEMENTII

DECLARATIONIII

ABSTRACTIV

CHAPTER 1: INTRODUCTION1

Background of the research1

Problem Statement2

Aims and Objectives3

Significance3

Ethical Concern5

CHAPTER 2: LITERATURE REVIEW6

First Generation: Automation & Cost Reduction6

Second Generation: Enhancement & Online Connection7

Third Generation: Reconstruction & Additional Functions9

Innovation in the Banking Technology12

New Technology Adoption14

Conceptual Framework18

Customers' Perception - Factors20

CHAPTER 3: METHODOLOGY26

Different Methodologies26

Chosen Approach of the Research28

Analysis of the findings35

Socio-economic and enhanced factors35

The perceived attributes43

CHAPTER 5: CONCLUSION49

REFERENCES52

APPENDIX56

CHAPTER 1: INTRODUCTION

Background of the research

Information technology has revolutionized the human society. It has not only reduced the time demand for a particular job but has also increased its efficiency and accuracy. Similarly, it has opened new horizons in the banking industry. It has triggered the banking industry to introduce new products and services. Information technology provides banking industry necessary means to cope with various challenges, set by the modern economy. Information technology has strengthened the banks by providing them the wherewithal with which they can carry out speedy and reliable financial operations. Besides these advantages, it has enhanced the financial activities throughout the world, like of which can never be seen before.

Nowadays, demands of customers are increasing constantly. They demand banking operations which are easy to use and do not like to be involved into complex technological activities. So, convenience is the top priority of customers, while dealing with the banks. Information technology has helped banks to overcome these problems and make the banking procedures much simpler. Automated teller machines (ATMs), internet banking and mobile banking are some of the milestones, which have really saved the time of customers. In this way, banks has enabled themselves to cover the wide range of services, especially that have facilitated the industry a lot in terms of increasing their business capacities.

Banking industry started to use the computers in early 1950s, when Bank of America installed the commercial computers into its operations for the first time. In the beginning, check transactions were processed by the computers, for which magnetic ink character recognition was used. In 1970, first automated clearing house ...