Factor that Impacts the Growth of the Company
Added on 2019-10-01
22 Pages7885 Words182 Views
Building trust, perception and confidence in online banking in Sri Lanka
Introduction Technology advancement has potentially confronted the banking sector as a primary economicfactor that impacts the growth of the company and the economic condition of the country. Thereis the fierce competition that decides the acceptance level of banking by customers in order tocompare the demand and supply components in the banking industry. While there are furtherchallenges that seem to have an impact towards the economic downturn and this is in responsetowards the concern that the banking sector takes into consideration. Consumers perception, trustand confidence, are the major factors that impact the online banking system in Sri Lanka. Due toadvanced technology and the latest communication tools used by the banks, consumers have trustand confidence with the banking industry. Internet banking seems to be a phenomenon whilethere are prerequisite factors that the banking sector deals along to envision the mode ofstrategies for future banking.Service quality is the determinant that tends to decide the success of e-commerce and electroniccommerce system. In today's world, the banking sector has accounted for a significant level ofimprovement for the economic condition. There are productive measures that are taken by thebanking industry and by governments to sell the products and service to the customers in aneconomical way. There are top priorities that are made by customers in order to sustain in themarket. Customer attraction is not only the goal of banking but to gain trust, confidence andknow the perception of customers is a meaningful way to have a banking sector at the top.Important services are to be provided by Sri Lankan banking sector so that customer feels ease tocoordinate their online transactions. The massive competition in Sri Lanka has simplified thelevel of persuading for customers. The research is about the factors that affect the online bankingsuccess. Research aims, objectives and Research questionThe research aims at finding out the factors that impact the online banking. The major elementsof the research are being considered with the online banking opportunity.The purpose of the research is to investigate the major factors that majorly affect the customerconfidence in order to use online banking. Research objectives need to be considered with thecustomer satisfaction rate. The factors like trust and confidence are the main aims that online
banking has to gain so as to have growth in the banking sector through an online bankingopportunity (Munusamy, Chelliah&Mun, 2010). Customer confidence is the main thing that canbe perceived with the major element for gaining trust for the company. With the customerconfidence and trust factors, online banking sector in Sri Lanka can be improved. Customersneed confidence in the services and the security that banks can give so as to use the e-bankingopportunity. While the banking sector should give a proper explanation regarding the use of e-banking and its advantages and benefits that can be provided by the banking sector(Sekaran&Bougie, 2010). Customer confidence has to be created for the benevolence effects thatthe banking sector can give with confidence and willingness. These are the objectives of theresearch in order to gain confidence in the e-banking service provided by Sri Lankan bankingsector.Research questions have the main purpose to fill that seems what are the factors that affect onlinebanking in Sri Lanka banking industry? Do these factors affect the banking sector and improve the economic condition of Sri Lanka?These factors are mentioned in order to have a major tendency of growth in the banking sector.Appropriate things should be considered within the research in order to gain confidence, trustand positive response of the banking sector. While these factors affect the perceived benevolenceand perceived capability of the business in order to have the banking sector use the latest andadvanced technology in the country. Sri Lanka needs its banking industry to grow while it isimportant that e-banking is an important criterion so as to improve the economic condition asmajor transactions are based on the individual will. Confidence within the banking sector is generated through the multidimensional approach thatthe banks can provide. The baking sector has the ability to proceed with the benevolence and theintegrated approach so as to raise the prerequisites that are important in online banking (Yap,2010). There is a study in which the primary factors have been engaged such as electronic sellerswillingness, electronic seller's ability so as to deliver the service to the customers and policies tobe framed so as to help customers engage with the personal information while making this as aconfidential agreement with the banks and not engaging with the websites and other sources.This will help a customer to gain interest and customer perception would tend to increase with
the confidence in the online banking sector.(Pérez and del Bosque,2015). Thereby the researchaims and objectives are mentioned which are the important factors in the research. Trust andconfidence are the factors that affect the online banking sector in Sri Lanka. The research aimfocuses to achieve the critical success factor that affect the online banking sector in Sri Lankaand manage the advanced and online techniques in the banking sector. An ease and timeconsuming element is only concern while it helps in improving the economic condition of thecountry. The approaches for safety and security needs are considered in the research so as tomanage the economic and social scale of Sri Lanka with effective policies and rules Literature review Globalization has made the banking sector to be strong enough for improving the services thatare given to customers in order to attempt the growth of the sector. While there are attemptsmade to consider the banking sector and provide reliable principles that form the trust to thecustomers. Electronic banking may be difficult to be accepted by the customers as trust andconfidence are needed for engaging in e-commerce. Banking sector should provide theseinitiatives in order to engage while gaining trust and confidence of customers (Samutthana, &Roche, 2014). The principles and conclusion for online banking are to deal with more and morestudies for electronic commerce acceptance and engage with the banking process to solve thedemands of the customers. There are results in which the prerequisites suggest that theconfidence of e-banking can be built with the electronic banking services.A survey has a major consideration which was conducted so as to make the stressing of theimpact of online banking. The medium of electronic banking has pointed out the factors in whichthe internet marketer and the reliability factors are considered. These are the mediums that seemto have an impact towards the banking sector. The factors such as the medium of shopping,infrastructural confidence and others were highlighted in the research (Hair, 2010). With thereliability of the companies and banking sector themes, the size affects the level of perceptionand the trust of the consumers. The account factors have generally been ignored with the qualityof services. The legality issues and the laws are being framed considerably so as to have an impact towardsthe customer confidence (Rawashdeh, 2015). The strategies are confronted in order to build the
confidence of the customers while this is an element which has to be emphasized with the onlinebanking sector. The research has been directly considered with the electronic commerceelements (Ma, 2012). There is a reencounters approach with the foundations of elements such asservice quality and confidence with the online banking services. The reputation of the companyand the control over the factors tend to have an impact on the customers' confidence, and thisrecounts with the foundations and the effective online banking sector. There are civil laws thatare engrossed in the strategies and tend to build confidence with the customer satisfaction whilethe electronic commerce trends to encounter with the reliability approach in the business.theservice quality and the visual effects sensations are the major comebacks in the banking sector(Ioannou, Zolkiewski, 2009). Safety and security are the concern of customers as this is for the information security terms andthe factors that influence the confidence of customers. Apparently, the factors build to improvethe banking services and thereby have an impact with environmental controls and the ability tohave electronic effects on the banking sector.(Hussein,2016). Bank-Level Stability Factors andConsumer Confidence—A Comparative Study of Islamic and Conventional Banks’ Product Mix.InIslamic Finance(pp. 86-104). Palgrave Macmillan, Cham.The electronic supplier servicemust take into consideration the major outcomes and the safety approaches that are built in orderto have a secured website and the safest approach for the investors and the customers (Yoon,2010). Factors including the company’s e-commerce approach and the environmental controlhave an effect towards the emphasized approach in the business. The electronic commerce andthe foundations that are linked along are the confidential factors and the recounted sessions forthe banking sector (Jenkins, 2007). The crucial factors like confidence and approach towards the business perspectives areemphasized with the environmental controls while these are the customer perceptions thatencounter with the ability to control the tools and techniques in terms of electronic suppliereffects within the website. The size and the reputation of the banking sector tend to affect withthe business performance while gaining the interest of the customers for electronic banking. Theinfrastructure even affects the customers' impact on the infrastructure and the customerconfidence. There are several factors that impact with a positive response towards thesatisfaction of the e-commerce banking sector and then affects the previous experiences that are
surveyed in the business for the purpose of simulation and the positive relationship that has beenmaintained with the confidence and customer website services. The research tends to improvealong with the e-banking sector and the definite collection of the information security trends.There are positive effects with the websites and the online system which can be considered withthe level of performance. The previous experiences of the customers suggest that the informationthat has been derived have the simulation consideration that tends to have an impact withbuilding the focus and approach of the information security for customer’s satisfaction whichseems to have the system approach.To improve the level of customer confidence and trust among customer is the main goal that canhelp in the e-banking industry. Online transactions may lead to a definite declaration that seemsto have the information security and tend to have the effectiveness in the research (Njuguna,2012). The characteristics of information security and the organization's website approach tendto have effectiveness in the studies. The confidence level has to be considered, and personalcharacteristics of the transaction are important in online banking (Giovanis, Binioris&Polychronopoulos, 2012). The jobs for online banking sector have a service quality for the onlinesystem and the system that works within the information environment. There are several factorsthat are considered within the approach so as to consider the system approach and present themodel of e-banking attitude. According to the study, the articulation of confidence and trust can be built with the online e-banking transaction and the shared values of the business. The communication variables areimportant in which bank tends to give the information to the customers for higher valueconsideration. The model assumes and inspires the confidence of the commitment of service inthe banking sector (Kumar &Garg, 2012). The programs for banking system lays down therelationship between the consequent use of online services in banks and the commitment towardsthe relationship within the banking sector and customers. Commitment is necessary at thisinstance so as to have the leading security of banking rules and regulations for the electronicwebsites. The key characteristics of the banking sector are observed within the services, and theperceived level of security is being given by banks in the e-banking approach. The e-bankingfactors affect the trust of consumers and gain confidence in the services with the perceived
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