Provision of electronic banking in the UK and the Republic of Ireland

Abstract

Electronic or online banking is the newest delivery channel to be offered by the retail banks in many developed countries and there is wide agreement that this channel will have a significant impact on the market. Aims to quantify the current provision of electronic services by major retail banking organisations in the UK and the Republic of Ireland. Additional insight into the banks‘ adoption of this new channel is gained by exploring two areas important in the analysis of new offerings, that is: an organisation‘s approach to innovation; and their view of the current and future markets. By use of a mailed questionnaire, it was found that 25 per cent of the banks in the UK and the Republic of Ireland which responded to this survey are already offering online transactional services to consumers in their homes. The largest group of respondents (50 per cent) are those that are currently testing or developing such services, while just 25 per cent of the respondents were in organisations not providing or developing such services. It is also found that the organisation‘s vision of the future, their prediction of customer acceptance, which tends to be very low, and their organisational culture of innovation are the most important of the suggested factors in their adoption of electronic delivery.

Examining the Relative Influence of Risk and Control on Intention to Adopt Risky Technologies

“…Roboff and Charles (1998) note that although customers' confidence in their bank is strong, yet their confidence in the technology is weak (Howcroft, et al, 2002). According to Daniel (1999), security concerns arise from the use of an open public network. Therefore, this study considers security concerns as an important factor in adoption of mobile banking.…”

“…This research follows their definition for mobile banking adoption. As mobile banking is a highly personalized service as well as a global communication medium, it is exposed to many security vulnerabilities (Daniel, 1999). According to Daniel (1999), security concerns arise from the use of an open public network.…”

The impact of the Internet upon bank marketing

“…22 One consequence of the Internet is the growing virtualisation movement. 23,22 -25 By ' virtualisation ' , we understand the removal of all constraints of time, place and method, enabled by the convergence of computing, telecommunications and visual media.…”

CONSUMERS’ PERCEIVED RISK AND ITS EFFECT ON ADOPTION OF ONLINE BANKING SERVICES

“…A lot of surveys showed that it is possible to reduce banking network costs in this way. Daniel (1999) is probably one of the firsts to show banks can improve their efficiency through technology adoption. The author showed that corporate vision of the future in which the environment becomes more competitive can propel it to use online services.…”