2000
DOI: 10.1108/10662240010312048
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Changes in the banking sector – the case of Internet banking in the UK

Abstract: The Internet is gaining popularity as a delivery channel in the banking sector. At the same time, customer needs are changing. A total of 12 Internet banking operations in the UK are analysed under customer empowerment functions and Internet banking Web attributes. Internet banking renders location and time irrelevant, and empowers customers with greater control of their accounts. Banks achieve cost and efficiency gains in a large number of operational areas.

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Cited by 391 publications
(295 citation statements)
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References 20 publications
(16 reference statements)
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“…62 Malone et al 63 state that the Internet has not only brought cost savings to the companies, but has also enhanced communication with the consumers. Research highlights the benefi ts of online banking in terms of cost savings, customization, consumer satisfaction and effi cient marketing, 64,65 improved service 65,66 and perceived usefulness. 67,68 In an online setting, the consumer actively participates in the transactions 69 and acts as a co-producer in the service delivery.…”
Section: Online Banking Functional Attributesmentioning
confidence: 99%
“…62 Malone et al 63 state that the Internet has not only brought cost savings to the companies, but has also enhanced communication with the consumers. Research highlights the benefi ts of online banking in terms of cost savings, customization, consumer satisfaction and effi cient marketing, 64,65 improved service 65,66 and perceived usefulness. 67,68 In an online setting, the consumer actively participates in the transactions 69 and acts as a co-producer in the service delivery.…”
Section: Online Banking Functional Attributesmentioning
confidence: 99%
“…According to Jayawardhena & Foley (2000), internet banking renders location and time irrelevant, and sanctions customers with greater control of their accounts. However, internet, as a powerful worldwide tool for e-commerce, could be, to a great extent, insincere without the real validity of security, privacy, and the strong role of legislators against identity theft fraud (Ahmad, 2008) and educational awareness.…”
Section: Literature Reviewmentioning
confidence: 99%
“…The internet is getting hold of popularity as a delivery conduit in the banking sector and, at the same time, customer requests are shifting (Jayawardhena & Foley, 2000). The banks have to strengthen awareness programs to help customers to circumvent internet banking scams such as phishing, pharming, romance, and mobile scams such as smshing, sim-card swapping and vishing, that can lead to account usurping and other identity theft ways.…”
Section: Introduction mentioning
confidence: 99%
“…According to Jayawardhena and Foley (2000), customer expectations from electronic banking can be categorised under four different functions, namely, view-only functions to have bank balances in check, action/account control functions to provide customers with the broadest range of access and control over their accounts, applying for new banking services to be able to make applications for core banking services and open new accounts (savings accounts, loans, etc.) and integration reconciliation functions to manage their finances with software packages (Jayawardhena and Foley, 2000).…”
Section: Crm In Bankingmentioning
confidence: 99%
“…and integration reconciliation functions to manage their finances with software packages (Jayawardhena and Foley, 2000).…”
Section: Crm In Bankingmentioning
confidence: 99%