Independent study interim report

Interim Report: Ebanking

Using a Web Questionnaire to Identify Current Trends in E-Banking

E-banking, also called online banking or internet banking, has been around for years, and for that same number of years there have been problems with it, such as the widespread security flaws that are still not completely corrected (Security, 2008). While e-banking is safer than it used to be, there are still issues that have to be addressed. The precursor to internet banking was telephone and other forms of distance banking (Cronin, 1997). These have mostly gone by the wayside, because people who bank today like to be able to do everything online and ensure that they are secure and that they can make changes to their accounts instantly with just the click of a mouse. Even back in the '80s, people were looking for new ways in which they could do their banking more conveniently (Edwards, 1984). Once the value of being able to bank from home was seen, it only made sense that computer banking would become the logical next step for the banking community.

Research Aims and Objectives

The main research objective for this study is to determine the current trends in e-banking. In order to do that, there will be several aims of the research. These include:

Using a questionnaire to determine how many people on average actually use internet banking and how many have the option to use it but choose not to.

Determining the reasons behind why people use internet banking.

Examining whether internet banking has become more secure in recent years, and whether it has been assumed to be more secure by those who use it or whether people who use it still feel as though they are at risk.

Drawing conclusions about the e-banking trends that are being seen today.

Initial Literature Review

An initial study of the literature shows that e-banking is a popular activity in almost all developed countries, despite security flaws (Security, 2008). In the '80s, there were few ways in which people could bank (Edwards, 1984). Mostly, they wrote checks or they went to the bank to get money when they needed it. Debit (ATM) cards became popular when they started to be used by more banks, but people still wanted more ways in which they could access their money if they couldn't get to the bank. They also wanted ways in which they could transfer money and pay bills (Cronin, 1997). That opportunity came about with internet banking or online banking, which has often also been called e-banking. Now that internet banking is so popular, it is important to learn more about it and understand the trends in it. That way, where e-banking is going in the future can be better determined. The future of e-banking is important, because banks want to know what their customers need, want, and expect. In addition, customers want to know what is happening with e-banking, so they can have an idea of what they will be getting from their banks in the future.

Research Methodology

Understanding a study is difficult without a clear research methodology. For this study, the research methodology will involve a questionnaire that will be sent out to individuals who may or may not use online banking. It will be designed to determine whether people have access to e-banking and whether they actually use it. Do they like it? If they do not use it, why is it that they avoid it? Understanding why people do something is at the center of many different studies, and this one is no different. It is always very important for people who are interested in the behaviors of humans to determine the reasons behind what humans do and whether those behaviors will change as trends change.

Data Analysis and Presentation

Analyzing and presenting the data is something that every study must do. For this study, the data will be analyzed from the questionnaire that was used to collect information regarding the trends that are seen in e-banking. People who bank online see these trends, and they also see the trends that they would like to have offered from their bank. There are often options for feedback at banks, and customers of those banks who use internet banking can let their banks know what they need and what they want to see. By analyzing the questionnaire data, the researcher can see what kinds of trends are appearing in e-banking and what customers would like to see as the next trending issue at their bank. Whether customers change banks over e-banking options and whether they would do so in the future also matters when it comes to analyzing data.