Online Banking Success in Sri Lanka: Trust, Perception, and Challenges

This report analyzes the factors that influence the success of online banking in Sri Lanka, focusing on customer trust, perception, and confidence. The introduction highlights the impact of technology on the banking sector, emphasizing the importance of customer acceptance and the challenges faced. The research aims to identify the key factors affecting customer confidence in online banking, with objectives centered around customer satisfaction and the role of trust and security. The literature review explores globalization's impact on banking, the need for customer trust in e-commerce, and the importance of service quality. It examines studies on electronic banking acceptance, the significance of electronic sellers' willingness and ability, and the role of policies in protecting customer information. The review also covers surveys on the impact of online banking, highlighting factors such as internet marketing, reliability, infrastructural confidence, and the impact of company reputation and service quality on customer perception and trust. The report concludes with the importance of building customer confidence and trust, the role of information security, and the need for a customer-centric approach to online banking services.

Building trust, perception and confidence in online banking in Sri Lanka
Introduction 300
Technology advancement has potentially confronted the banking sector as a primary economic factor
that impacts the growth of the company and economic condition of the country. There is fierce
competition that decides the acceptance level of banking by customers in order to compare the demand
and supply components in the banking industry. While there are further challenges that seem to have an
impact towards the economic downturn and this is in response towards the concern that the banking
sector takes into consideration. Consumers perception, trust and confidence are the major factors that
impact the online banking system in Sri Lanka. Due to advanced technology and latest communication
tools used by the banks, consumers have trust and confidence with the banking industry. Internet
banking seems to be a phenomenon while there are pre requisite factors that the banking sector deals
along so as to envision the mode of strategies for future banking.
Service quality is the determinant that tends to decide the success of e commerce and electronic
commerce system. In today’s world, the banking sector has accounted as a significant level of
improvement for economic condition. There are productive measures that are taken by banking industry
and by governments so as to sell the products and service to the customers in an economic way. There
are top priorities that are made by customers in order to sustain in the market. Customer attraction is
not only the goal of banking, but to gain trust, confidence and know the perception of customers is an
important way to have banking sector at the top. Important services are to be provided by Sri Lankan
banking sector so that customer feel an ease to coordinate their online transactions. The massive
competition in Sri Lanka has simplified the level of persuading for customers. The research is about the
factors that affect the online banking success.
Research aims, objectives and Research question 600
The research aims at finding out the factors that impact the online banking. The major elements of the
research are been considered with the online banking opportunity.
The purpose of the research is to investigate the major factors that majorly affect the customer
confidence in order to use online banking. Research objectives need to be considered with the customer
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 banking opportunity. Customer confidence
is the main think that can be perceived with the major element for gaining trust for the company. With
the customer confidence and trust factors, online banking sector in Sri Lanka can be improved.
Customers need confidence for the services and the security that banks can give so as to use the e
banking opportunity. While 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. Customer
confidence has to be created for the benevolence effects that the banking sector can give with

confidence and willingness. These are the objectives of the research in order to gain confidence about
the e banking service provided by Sri Lankan banking sector.
Research questions have the main purpose to fill that seems what are the factors that affect online
banking in Sri Lanka banking industry?
Does these factor 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, trust and
positive response of banking sector. While these factors affect the perceived benevolence and perceived
capability of the business in order to have the banking sector use the latest and advanced technology in
the country. Sri Lanka needs its banking industry to grow while it is important that e banking is an
important criterion so as to improve the economic condition as major transactions are based on the
individual willingness.
Literature review 2800
Globalization has made the banking sector to be strong enough for improving the services that is given
to customers in order to attempt the growth of the sector. While there are attempts made to consider
the banking sector and provide a reliable principles that form the trust to the customers. Electronic
banking may be difficult to be accepted by the customers as trust and confidence is needed for engaging
into e commerce. Banking sector should provide these initiatives in order to engage while gaining trust
and confidence of customers. The principles and conclusion for online banking is to deal with more and
more studies for electronic commerce acceptance and enage with the banking process to solve the
demands of the customers. There are results in which the pre requisites sugges that the confidence of e
banking can be built with the electronic banking services.
Confidence with the banking sector is generated with the multi dimensional approach that the bnaks
can provide. The baking sector has ability to proceed with the benevolence and the integrated approach
so as to raise the pre requisites that are important in online banking. There is a study in which the
primary factors are been engaged such as electronic sellers willingness, electronic seller’s ability so as to
deliver the service to the customers and policies to be framed so as to help customers engage with the
personal information while making this as a confidential agreement with the banks and not engaging
with the websites and other sources. This will help customer to gain interst and customer perception
would tend to increase with the confidence in the online banking sector.
A survey has a major consideration which was conducted so as to make the stressing of impact of online
banking. The medium of electronic banking has pointed out the factors in which the internet marketer
and the reliability factors are considered. These are the mediums that seem to have an impact towards
the banking sector. The factors such as medium of shopping, infrastructural confidence and others were
highlighted in the research. With the reliability of the companies and banking sector themes, the size
effects the level of perception and the trust of the consumers. The account factors are generally been
ignored with the quality of services.

The legality issues and the laws are been framed considerably so as to have an impact towards the
customer confidence. 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 online banking sector. The research has
been directly considered with the electronic commerce elements. There is a recounteres approach with
the foundations of elements such as service quality and confidence with the online banking services. The
reputation of the company and the control over the factors tend to have an impact with the customers
confidence and this recounts with the foundations and the effective online banking sector. There are
civil laws that are engrossed with the strategies and tend to build confidence with the customer
satisfaction while the electronic commerce trends to encounter with the reliability aprpaoch in the
business. the service quality and the visual effects sensations are the major comeback with the banking
sector.
Safety and security are the concern of customers as this is for the information security terms and the
factors that influence the confidence of customers. Apparently the factors build to improve the banking
services and thereby have an impact with environmental controls and the ability to have electronic
effects of banking sector. The electronic supplier service must take into consider the major outcomes
and the safety approaches that are built in order to have a secured websites and th safety approach for
the investors and the customers. Factors including the company’s e commerce approach and the
environmental control has an effect towards the emphasized approach in the business. The electronic
commerce and the foundations that are linked along are the confidential factors and the recounted
sessions for the banking sector.
The crucial factors like confidence and approach towards the business perspectives are emphasized with
the environmental controls while these are the customer perceptions that encounted with the ability of
controlling the tools and techniques in terms of electronic supplier effects within the website. The size
and the reputation of the banking sector tends to affect with the business performance while gaining
interest of the customers for electronic banking. The infrastructure even affects the customers impact
with the infrastructure and the customer confidence. There are several factors that impact with a
positive response towards the satisfaction of the e commerce banking sector sand then affects the
previous experiences that are surveyed in the business for the purpose of simulation and the positive
relationship that is been maintained with the confidence and customer website services. The research
tends to improve along 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 with
the level of performance. The previous experiences of the customers suggest that the information that
is been derived have the simulation consideration that tends to have an impact with building the focus
and approach of the information security for customers satisfaction which seems to have the system
approach.
To improve the level of customer confidence and trust among customer is the main goal that can help in
e banking industry. Online transactions may lead to a definite declaration that seem to have the
information security and tend to have the effectiveness in the research. The characteristics if
information security and organization’s website approach tends to have an effectiveness in the studies.
The confidence level has to be considered and personal characteristics of the transaction is important in

online banking. The jobs for online banking sector have a service quality for the online system and the
system that works within the information environment. There are several factors that are considered
within the aprpaoch so as to consider the system aprpaoch and present the model of e banking attitude.
According to the study, the articulation of confidence and tust can be build with the online e banking
transaction and the shared values of the business. the communication varialbs are important in which
bank tends to give the information to the customers for higher value consideration. The model assumes
and inspires the confidence of the commitment of service in banking sector. The programs for banking
system lays down the relationship between the consequent use of online services in banks and the
commitment towards the relationship within banking sector and customers. Commitment is necessary
at this instance so as to have the leading security of banking rules and regulations for the electronic
websites. The key characteristics of banking sector is been observed within the services and the
perceieved level of security is been given by banks in the e banking approach. The e banking factors
affect the trust of consumers and gain confidence within the services with the perceived priority and
privacy given by them with quality concern and the proposed benefits of the banking sector services.
The advantages of banking sector is been explained to the customers that tends to improve the digital
device use in terms of mobile banking. There are several systems that are offered within the financial
sector which tends to bring the importance in th micropayments and bill payments in the banking. These
days banks have provided home services and mobile banking in order to consider the credit systems that
are raised with the value added service given to the banks for cost saving approach in banks. The
interactive banking services tend to give an advantage with the banks in terms of cost advantage and
cost saving approach operations in the banks. There are primary benefits that are considered in the
banks with the credit cards approach and the debit cards services. These are majorly main systems that
enhance the banking services so as to certainly provide service to customers which emphasize with the
benefits that the bank gives to the system. The credit card offers the characteristics that influence the
mobile service and this becomes easy for the credit card customers who pay there bills on a timely basis
while banks deduct the money and the bill at a particular date as decided in the payment instruments.
Within the payment systems there are direct banking account that has an electronic bill consideration
with the major element of presentment. The additional facility is also been requested by the customers
and this influence the major system of electronic banking models presented for the special customer
service by banks. There is a request from the customers to consider the pre schedule banking systems
and their payments in appropriate date which will help to enhance the service in the banking sector. The
cheque payment and other system approach. The customer has pre scheduled with the payments that
are necessary in order to have an impact towards the mobile phone category with the redundant and
the credit cards system. The fraud consideration with the offering of the cusotemr convenience has also
impacted with the approach of banking customer and the mobile messaging app.
The use of mobile technologies have contributed towards the growth of the sector in terms of
messaging and online banking approaches for the proposition and the banking criteria. The online sector
tends to have an enhanced service wit the nominal costs that are encountered with the commercial
transactions in the bank. While there are problems that can be solved within the system with the
inability to provide the knowledge and service to the customers. As such the perceived advantage can

be considered with the awareness of the service and the potential factors that influence the adoption of
the mobile banking service. The adoption of mobile banking and the convenience factors that infleucne
the customers confidence and trust are been gained so that the factors are highlighted with the
research approach and are considered within the online banking system. There is a perceived level
interest that is carried on in order to iteract with the determining factors and the uncertainty of the
usefulness of the banking sector services for credibility and self efficacy approach in the system. With
the perceived service provided by the banking sector, the financial cost are estimated and have gained a
consideration with the credibility system in the banking sector. Time saving is one of the major benefits
that customers can have with the online banking approach in the system. Security and safety aprpaoch
given can deal along with the customer confidence and trust in the online service by banking industry.
The risk and compatibility are major elements for the perceived financial services by the banking
industry. Awareness and experience of customer has impacted towards the adoption of online banking
in various countries.
Methodology 1600 words