Question

1. Dimensions of customer impacting the E-banking adoption
2. 1. Trust and E-banking Adoption – 400 words

please make sure that it's free plagairsm and no grammer mistakes

Answer 1

Ans

e- banking or electronic banking is also known by virtual banking or online banking. It is a online banking system whereby the customers can carry out all financial transactions like sending money, checking balance, getting statement, schedule payments, do online shopping etc on the website of the bank or on the mobile application of the bank. This is a very convenient method of transferring and receiving funds. This also makes shopping on online websites very convenient and easy. The following factors are responsible for slowing the adoption of this online platform for transactions:

1. While young people find the process of enrolling for online payment mechanism very easy, the elderly population is not very conversant with the online mechanism and are therefore reluctant to use this medium. Banks need to educate the elderly people through regular trancing programs.

2. Many phishing and unlawful hacking fraudsters are there to get the password for doing online transactions and naive customers are losing lot of money by falling prey to these fraudsters. Therefore banks need to educate the customers about the precautions to be taken while doing online transactions. They also need to educate about reporting mechanism if such an unfortunate event happens.

3. The security features of the website and application need to be very strong and robust to prevent the hackers from hacking the system and getting access to confidential information.

4. The design and the layout of the website needs to be easy so that customers, specially elderly do not have problem in navigating the website and all important features are easily accessible.

5. Strong alert mechanism should be there for all transactions on mail and registered mobile number so that customers can take urgent action if any unauthorized transaction takes place.