Electronic banking is an umbrella term for the procedure by which a customer may carry out banking transactions electronically without visiting a brick-and-mortar organization. Personal computer banking, Internet banking, virtual banking, online banking, home banking, remote electronic banking, and phone banking are forms of Electronic Banking. PC banking and Internet or online banking is the most commonly used designations. It should be noted, still, that the terms used to illustrate the different types of electronic banking are often used interchangeably.
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We’ll start our research proposal by defining Internet Banking; it is a system that allows bank users to perform bank transactions at home via the internet. Internet banking has targeted all customers to work furses, that they do not find time to go to the bank to conduct their banking transactions. Thus internet banking enables customers to carry out their routine transactions using safe websites and these transactions include transfer of account, bill payments, online loan or credit and application for cards. Moreover, all online services provided by the bank are of free cost. Electronic banking helps banks to prove to their customers that they provide high quality service which result to high satisfaction and that they perform better than their rival competitors.
Internet banking services include the following:
Accessing account balances and transaction.
Electronic bill payment.
Funds transfer.
Requesting credit card advances.
Ordering cheques
Past studies on innovation flow have basically pay attention only on users. But our studies will be focused on the non-user and their resistance to the acceptance of using Internet banking. Internet banking is seen to be the fastest growing service that banks offer in order to gain and maintain new customers (Moody 2002). However, the primitive factor that leads to the success of internet banking is customers’ acceptance and assurance. In Mauritius, Internet banking was introduced in 1997. Mauritius has a reasonably well-developed domestic financial structure and a growing offshore sector. Even though, Internet banking has grown rapidly, consumers are still reluctant to use it.
This study investigates the role of internet trust as a common form of technology and the extent to which it affects the adoption of internet banking in Mauritius. This paper is organised as follows: it describes the problem statement of the research followed by the aims and objectives. It then describes the research method. The research benefits, time plan and budget analysis are presented. And then concludes by analyzing the research implication.
PROBLEM STATEMENT
The main subject for this research is to find out why people do not use internet banking. This may result to a key problem.
The main problem of our research is the lack of trust from the part of the customers. People may not trust Internet banking for various reasons such as security problems, no skill to manage computer, privacy risk and it time consuming. Customers do not want to use internet banking as they lack trust in new technology that can be easily accessed by hackers. The latest advancement in Internet banking has introduced new aspects in banking transactions that has made it more convenient and has reduced the long queues in banks, in way helping customers in saving time. Internet banking is seen to be complex for old person as they are computer illiterate or they do not have access to the internet. Another problem to be considered is time consuming, while performing their transaction customers may faced technical or connectivity problem and to upload website may be quite long. Moreover users find it difficult to trust a fully mechanized system especially in case of financial matters which concerned with private transaction matter.
The security of internet banking is primordial while banking through the internet. The security of one’s bank account is related straightforwardly to a great extent to one’s security of computer including password and pin number. Computer hackers can get access to a bank account due to password or pin number leakage. Unauthorized and criminal transactions may occur without one’s knowledge and it might be too late to detect till the bank statement is received. Furthermore, many people are apprehensive of using internet banking because of proxy websites. These websites can easily get access to an account and chink the username, password and pin number.
The above gives a scheme of how trust and the other related factors can root problems for non users.
AIMS AND OBJECTIVES
The main purpose of this research is to look for the current position of internet banking in Mauritius, focusing on the perception of non users of online banking. The following are the objectives of the study:
To investigate on E-Banking system in Mauritius
To find out the views and opinions of non adopters of Internet Banking in Mauritius
To access the possibility of fraud in online banking system
To determine how internet banking has replaced the traditional way of doing transactions in bank
To gather data in order to assess how internet banking has a negative impact on people
METHODOLOGY
In our proposal, we have used the descriptive type of research. This method helps to gather information or data of the prevailing condition. The reason behind using this method because it gives a description of the situation as it is at the time of study ant help to examine the cause of the problem. This approach is less time consuming and inexpensive. Primary data is required so as to formulate rational and sound conclusions for the case or study.
Research Strategy
Information for this study will be gathered from articles from different online journals such as Emerald, and other literature review. After collecting all data from those documentaries, then the study will summarize the data in order to obtain significant information. The supposed problem will be solved with the information obtained.
Primary and secondary data collection
The first hand data will be collected through conducting survey using questionnaire(quantitative method)with a sample of 100 customers, mainly bank customers and face to face interviews which is on the other hand a qualitative method. Primary data often gives complete definition of terms and their statistical values. On the other hand, secondary data will be obtained from the internet, journals and other related articles. The secondary data are more convenient to use since they have already been organized and it help to perform interpretation and analysis more easily.
Illustrative statistics and Pie chart (see figure 1. Appendix) were used as an introduction analysis to determine the factors of why people were not adopting internet banking.
Lack of Trust
41%
Security risk
22%
Privacy risk
9%
Necessity of the internet
11%
Demographic factors
4%
Time consuming
3%
Customer Care Service of Online Banking
10%
BENEFITS OF RESEARCH
Focusing on the problem statement mentioned above, it has been found that trust is the major problem that makes customers reluctant to use internet banking. The aim of this research is to target mostly all customers in the banking sector.
Often customers doubt if they have perform their transactions properly when using internet banking, our research will find solutions that can be considered to prevent the major problem of trust. This discomfort can reduce by printing a copy of the transactions and then when the bank statement is received, the customer needs to count check whether the transaction has been correctly passed.
Some precautions that customers need to take are; not giving their password or pin number to anyone, having antivirus software installed to guarantee security of their online transactions and changing their password regularly. Moreover, banks do provide for websites that help customers to be more familiar with internet banking and how to perform their transactions safely.
Generally, banks can make use of features such as firewalls, routers, filtering, call-back modems, encryption, authentication and digital certification (Mukherjee and Nath, 2003). A strong positive influence on trust has been found with a regulatory control. Thus, banks must ensure appropriate regulatory controls and distribution of authentic information. Consistency and clearness must be used and communicated to plan strategic intentions. Strong regulatory control can reduce the opinion of opportunistic behavior by Internet banks.
TIME PLAN
Gantt chart
Task No.
Task Name
Start (D/M/Y)
Finish (D/M/Y)
Duration (Days)
1
Decide Research Topic
22-Jan
29-Jan
8
2
Research Materials
31-Jan
5-Feb
6
3
Literature Review
9-Feb
26-Feb
18
4
Research Proposal (solution)
5-Mar
7-Mar
3
5
Discuss
8-Mar
11-Mar
4
6
Write
12-Mar
18-Mar
7
7
Review with team & revise
19-Mar
22-Mar
4
8
Final edit
23-Mar
27-Mar
5
9
Final
28-Mar
30-Mar
3
10
References
31-Mar
1-Apr
2
BUDGET ANALYSIS
CATEGORY
Total Estimated Cost (Rs.)
1
Advertising Campaign
100, 000
2
Advance Secure Website
50, 000
3
Printing
25, 000
4
Photocopy
5, 000
5
Telephone bill & Internet
15 ,000
6
Other Stationeries
5 ,000
200,000
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