An Analysis of Internet Banking Adoption and Usage by Users in the Developing World
Nishali Prasadika Ranasinghe
Submitted to the Business School in partial fulfillment for the degree of
Bachelor of Arts (Hons) in Business Management
Supervised By: Fathima Nazeefa Fawzer
Table of Contents
1 Working Title 5
2 Introduction 5
2.1 Problem Statement 6
2.2 Problem Justification 6
2.3 Objectives 7
3 Literature Review 8
3.1 Determinants of internet banking usage 8
3.2 Barriers for internet banking adoption and usage 10
5 Conclusion 13
6 References 14
Similar to the adoption of automatic teller machines, ...view middle of the document...
Fathima Nazeefa Fawzer, the supervisor of Project module, for her continuous guidance and advices in making this assignment successful.
Also sincere gratitude is extended towards Asia Pacific Institute of Information Technology for the assistance provided with library, laboratory and other facilities to complete this report on time.
Finally the author would like to thank the parents for their helping hand given to accomplish this project throughout the time.
1 Working Title
An analysis of internet-banking adoption and usage by users in the developing world
Rapidly growing revolutionized technologies have overwhelmed the world of financial institutions. This form of technological advancement has enhanced delivery of banks’ services, and has enormous effect on development of flexible payments methods and user-friendly banking services (Dixit and Datta, 2010). Today, internet-banking features not only include funds-transfer, loan applications and investment activities but also comprise personal finance management such as importing data into personal accounting software (Akhlaq and Ahmed, 2013). The last decade has witnessed a prompt growth of studies on electronic banking and technology-oriented bank services. As the novel technology expanses across various sectors, businesses as well as academicians are tempted to evaluate the opportunities created by the new technology in a comparative mode with the existing processes. The immense prospects brought by the internet to the banking industry have therefore attracted considerable attention from researches whose efforts evidently group on specific areas of interest. However, there is limited research on internet-banking adoption in developing countries. Apart from the developed countries, the developing countries are experiencing strong growth in e-banking such as India and the Republic of Korea are experiencing particularly strong growth in e-banking. In Southeast Asia, internet banking is also developing rapidly in Thailand, Malaysia and Singapore and in Philippines (Mia et. al. 2007). In Nepal, ATMs are the most popular electronic delivery channel for banking services but only a few customers are using internet banking facilities. Nonetheless, there have been several major challenges and issues faced to the e-banking growth in the context of developing nations. Reason for lack of complete adoption and determinants of e-banking usage in developing countries like Bangladesh, Ethiopia, and India is an important research that will be addressed by this study.
2.1 Problem Statement
To discover the barriers affecting internet banking adoption by users in the Developing World
2.2 Problem Justification
Today, as global economy is entering digital age, information has become one of primary resources for economic development. Researchers suggest that e-finance can be a revolution and be introduced quickly even where basic financial infrastructure is weak...