Exploring security and comfort issues associated with online banking
by Alan D. Smith
International Journal of Electronic Finance (IJEF), Vol. 1, No. 1, 2006

Abstract: The rate of those consumers who are adopting online banking and bill payment services has ranked to be one of the fastest growing activities in 2003. To gain a better understanding of the online-banking industry, an inspection of a few representative banks in the USA, the use of conceptual modelling and empirical analysis were completed. A survey and resultant graphical cross-tabulation, Principal Components Analysis (PCA) and factor analysis on a number of working, college-educated semi-professional and professional in the service sector of Pittsburgh, PA metropolitan area revealed several important independent constructs associated with enhanced security and capability associated with online financial services. The renamed factor groupings included the following constructs: Online Accessibilities, Security Controls, Online Capabilities, Credit Levels and Education Levels, and were found to capture a significant amount of explained variance (79.5%). Perhaps the traditional performance measures of ROE, ROA, ROI and revenue gathering are only indicators of present performance, the equally important questions about future growth of online banking may be found in achieving customer satisfaction through proper Customer Relationship Management (CRM) techniques.

Online publication date: Tue, 31-Jan-2006

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