E-Banking Research Proposal Paper
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Because of the growing influence of globalization, banking system has never been the same again. The traditional banking system makes various reactions coming from the clients that often manifested in the queuing time. But with the introduction of the development in the banking system, the clients finally feel at the state of ease. More often, the new innovated system allows the customers to touch their accounts even at home or across the other countries.
Background and Problem Statement
Pakistan is recognized as one of the countries that are late entrants into information technology (IT) systems particularly in financial institutions and banking systems. But because of the adoption of the changes in linking the IT with the systems such as in financial sector had been benefited. The developments made in the banking sector are because of the interaction of IT system. Most of the commercial banks in the country switched in the convenience ways in accessing the accounts of the customers and giving them the freedom for the easy access and transactions that are in their favor (Ahmad, 2006). But despite in all the opportunities and benefits created by the e-banking and the continuous development in e-commerce, there are still many challenges that are present in the global financial sector.
Research Aim and Objectives
The aim of the study is to determine the challenges in formidable electronic transactions and then, after wards give the solutions that might minimize its weakness. In supporting the aim of the study, there are three objectives that can serve as the framework of the study suited in the e-banking system. The first objective is to determine the common challenges and/or problems that may occur in the financial sector as well as in banking. The second objective is to establish the appropriate segment to provide the most of the convenience coming from e-banking services directly to the customers. And third is to bring the legal systems and policies regarding the electronic transactions for the total improvement of the business.
E-banking is one of the products of e-commerce that duly provides services to large populations. E-banking is identified to be well suited for the microfinance that targets the poor populations and the areas where there is a little or access in banking services. This very same advantage is also applied among the people who belong in the middle and upper social status. However, the electronic transactions are still part of the regulation due to its heavy technological advancements and its interaction in the public. In addition, because of the continuous development and expansion of the services to the large populations, banking transactions are expected to be more popular because of the lower costs and power to reach thousand of users or customers (Ahmad, 2006). From the conventional cheques to modernized cards (ATM, credit/debit cards) and other electronic banking instruments that are used to process transactions, e-banking in Pakistan is described as comprised in retail payments (McAndrews and Roberds, 2001). The convenience resulting to e-banking reduced the volume and value of paper-based transactions in Pakistan. Through the evolution of banking system emphasized in electronic mode, the retail payment transactions continuously increase for the foster development (Ahmad, 2009). Internet banking refers to the utilization of the Internet for performing transactions and payments by accessing a bank's secure website and pertains to the application of financial services and markets through the use of electronic communication and computation (Humphrey et al. 2004).
The applied method in the study is the use of comparative case study which emphasizes the implementation of e-banking in Pakistan. In this way, the linked ideas regarding the e-banking transactions in financial sectors in Pakistan are identified. This serves as an advantage for the study to link the e-banking system in the future transactions in banking sectors. Comparative case study method can help the current study investigate the current situation in e-banking services as well as determining the level of impact among the users and the institutions serving the same idea.
The influence of globalization seems no stopping whenever it started to touch the various areas in business. The banking sector deserves to receive the impact of changes and deliver the benefits right to the people. As one of the sign of development, the e-banking can be the step or the beginning of the economic improvement in most of the countries.
Ahmad, A., (2006) “Policies and Regulations for Expanding e-banking to the Poor”, The First MicroFinanceBank Ltd, Pakistan, Accessed 24 May 2010, from http://www.bwtp.org/pdfs/arcm/Policies%20%20Regulation%20for%20e-Bank.pdf
Ahmad, K.E., (2009) “The Retail Payment Systems of Pakistan 1st Qtr Report FY 2008-9”, State Bank of Pakistan, Accessed 24 May 2010, from http://www.sbp.org.pk/psd/reports/Status_Report_Q_1_08-09.pdf
Humphrey, D.B., Pulley,L., & Vesala, J.M., (2004) “Cash, Paper and Electronic Payments: A Cross-Country Analysis”, Journal of Money, Credit and Banking, Vol. 28, No. 4.
McAndrews, J., & Roberds, W., (2001) “A General Equilibrium Analysis of Check Float”, Journal of Financial Intermediation, pp. 353-77.
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