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European Journal of Business Management Volume 12, December 3 (2012)

Identify the critical factors of Internet banking adoption among Malaysian Bank Customers: An Empirical Investigation in Malaysia.Mohammad Ashiquzzaman Ashiq. (MBA)( Queensland, Australia) Faculty of Graduate School of Business (GSB). Universiti Tun Abdul Razak Kuala Lumpur, Malaysia Malaysia(UniRazak)2 1

Arun Kumar Tarofder MBA(Multimedia university), PhD (MMU) Faculty of Business Management Professional Studies Management and Science University, Malay

Professor Masudur Rahman, MCom, MBA(Manchester), PhD (Wales) Faculty of Graduate School of Business (GSB). Universiti Tun Abdul Razak Kuala Lumpur, Malaysia Malaysia(UniRazak) MD. Ashiquzzaman (Ashiq) Academic Researcher As well as PhD Candidate in Graduate School of Business (GSB) Universiti Tun Abdul Razak (UniRazak) Email:ashiqprime@gmail.com. Postal Address: PhD Candidate, RAZAK Campus, Capital Square, Block C & D, No. 8, Jalan Munsyi Abdullah, 50100 Kuala Lumpur, WP Kuala Lumpur.

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ABSTRACT. In this study, By incorporating the respectively Model variables were diffusion of innovation (DOI), (RELATVE) relative advantage, Technology acceptance Model (TAM)(PU),Perceived usefulness,(PEOU)Perceived Ease of use, the unified theory of acceptance and use of technologyModel,(UTAUT)(SOIF) Social influence and additional extended variable (BBIN)Broadband Internet , and examining its impact on an adoption of Internet banking; A majority of the technology adoption research has been completed in developed by unique study but split variables and aggregated examination are a small number of study among Malaysia .This is the first time study in Malaysia, the results indicate that the proposed model provides a desirable or positive qualities to understanding framework was developed to testify Factor analysis was performed to extract and decide on the number of factors underlying asset of measured variables of interest. The statistical relationships among consumers with aggregated perceptions on internet banking adoption by Regression and factor analysis. This study shows that only potential and significant impact on consumers perception about internet banking regulatory frame work. This study offers an insight into in Malaysia, which has not previously been investigated and at the same time, statistical tests significance makes this study a potential cornerstone for future research.

Key Words Internet-banking adventage, Electronic Transaction,Usefulness,Esae of Use Internet Service and Broadband, Internet Banking Adoption Malaysian Bank Customers,Introduction: Bank Negara Malaysia ,Governor's made a Keynote, address at the Ceremony, for the 50th Anniversary of: "50 Years of Central Banking Stability and Sustainability" Online banking service was introduced in Malaysia about 10 years ago is now widely used by the entire population of internet subscribers in the country as well With 12 domestic banks offering online banking to 4.5 million Subscribers currently,(Bank Negara Malaysia, 2007) at the centre of the financial infrastructure is the payments infrastructure which has been enhanced and modernized over the years to achieve greater efficiency and reliability of the payments system. The payments

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landscape has been undergo development or evolution from a mainly paper-based to one that includes a range of new electronic forms of payment. Internet banking which was not available in Malaysia (Bank Negara Malaysia, 2009).At last, on June 1, 2000, the Malaysian Central Bank gave the green light for locally owned commercial banks to offer Internet banking services. (Suganthi, et.al 2001 Sohail .., Balachandran,2003) and domestic Maybank was the first take the lead to launching online banking service among Malaysia. The history of anatomy of IT revolution that shift in the-infrastructure of banking from mainframe, PCs, to client/server, before the emergence of the Internet. These IT- Researchers are alive in desktop computing and wired networking architecture, which is supported by patent electronic network implemented by banks. Traditional banking systems, conducted with the use of information technologies centering on electronic data interchange (EDI) over proprietary value-added networks (VANs) that were established by vendors to deliver services over and above those of common carriers that are licensed by governments to provide financial services to the public. (Standing 2002, Kimball & Gregor, 1995; Thornton &White, 2001) How brick & Mortar Banking makes much more sense for the bank to provide only ATMs in metropolitan area and locate its main center of operations in a suburb. (Eriksson & Nilsson, 2007). The next development was the introduction to Customers could easily and quickly handle their banking business online, at an ATM or even over a mobile phone at any time of the day or night. The technology keeps getting more sophisticated even checks can now be deposited using a picture taken by a cell phone. Even if they are out of the country, customers who bank online can access their accounts at any time with ease. By the mid-1990s, many banks had begun to experience directly the potential the Internet offered them. Ultimately, the Internet presented a novel alternative to the phone banking systems (Claessens, Dem, De Cock, Preneel, & Vandewalle, 2002). The layers of the world ICT have created Internet (www), partially layer-by-layer Created Ecommerce, e-government, Online shopping Debit card, Credit card ATM...So on as well as Online banking also , and there is no end of day of innovation as well as innovation is to be continue .Perhaps Online is reveals but it created low cost values and how close we have gotten that value for our daily financial transitions and consumption . (Ali Ahmad 2006, Hannah Thinyane 2009).Is it all a matter of perspective of brick and mortar whether it is, "Here's another fine mess you've gotten from brick and mortar banking into," or "What a relative advantage this would be..." Is judgment is in the eye of the beholder; electronic innovation in the Malaysian. (By Pang 1995, Suganthi, Balachandher, and Balachandran, 2001 Vijayan, P., and Bala Shanmugam, 2003) Critical barriers and factors to Adoption online banking: Online focus blamed themselves more for the service failure than the offline customers blaming themselves for a service failure. (Katherine; Lois Mohr and Kenneth Bernhardt 2006,)This research also showed that attribution for failure had a significant effect on online recovery expectations. Online customers blamed themselves for a service failure, the most interesting finding, is that online customers tended to blame themselves more for service failures than offline customers did. The fact that the transaction,(e.g. online banking) the more problems than do offline consumers in similar service situations The significant consumers attributions of blame for service failure on their expectations for failure recovery in on- and offline settings. Drawing on the attribution theory literature and the service failure literature, developed to explain customers expectations of and reactions to service failure and recovery in multiple barriers of online services (e.g. e-banks and airlines) and two mediums of on- and offline is the significant barriers for IB and e-transitions.(Katherine et.al , 2006; Vijayan, and Bala Shanmugam, 2003))

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An exhaustive literature search of e-commerce barriers, it is our considered opinion that we consulted a representative sample of literature sources on this topic to warrant our conclusions valid. Determine if the barriers reported at the advent of electronic commerce are different from those found in recent studies an extensive literature review was undertaken to achieve With regard to the objective, what emerged from this debate is the fact that the adoption barriers. Differences only come in the importance placed on each barrier by different in different locations and at different stages of adoption. (e.g., example e-commerce, e-shopping web base technology developed; SMS Banking ,online banking) services were may value or place importance on barriers, (MacGregor and Vrazalic, 2005a; Scupola, 2003; Scupola, 2002, Ihlstrum, Magnusson, Scupola and Tuunainem, 2003; Simpson, & Docherty, 2004) these existing barriers so as to realize benefits from e-commerce as. (Ihlstrum et al 2003:p.102) appeared to have properly summed it up by saying researchers should stop reinventing the wheel in the form of creating new lists of old barriers.( Bolongkikit et.al 2008) .limited diffusion of computers and limited ease of use of banking services. It is incontestable that these issues were relating to earlier barriers of web networking problem (Poon and Swatman, 1997); insufficient legal systems (El-Nawawy and Ismail, 1999); lack of critical heap (Hadjimanolis, 1999) and inadequate infrastructure (ElNawawy and Ismail, 1999) respectively. Online banking is the fastest growing and widespread effect on Internet activity among Malaysia. According to a new, survey,(2009) by Suruhanjaya Komunikasi dan Multimedia (MCMC), Malaysia the increase of home broadband connections to the Internet, Mini budget (2009)about RM2.4 billion was allocated to improve telecommunications infrastructure of 89 districts by the Malaysian Communications and Multimedia Commission. Besides that, Khazanah Nasional Berhad has been also invest RM3 billion in the telecommunications sector to improve broadband infrastructure in Malaysia.. Consumers with broadband access are about twice as likely to have tried online banking as those still using dial-up connections in Malaysia Internet penetration and users in Global Broadband Quality, Study Shows Progress, Highlights Broadband Quality Gap,(Fernando Gil de Bernab,2009)senior director, Cisco..Business School, University of Oxford Resea

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