Question

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

please make sure no plagarisim and grammer mistakes

Answer 1

The world is becoming digital day by day and e banking is one of the feature that people are adopting or sometimes forced to adopt. Specially, in these tough times of Covid-19 pandemic when going to a physical bank is not easy, the e banking have provided the customers the best way to fulfil all their banking needs just by sitting at home.

There are various customer dimensions which play a vital role in the adoption of e banking services by the customers. Following are few of the major ones and how they play role in this adoption:

1. Status of the user: Generally it can be observed that a rich customer would have more knowledge and access to devices which help him to use e banking as compared to a poor person.

2. Education Level: Educated people tend to use digitally enabled platforms like e banking more often than others.

3. Age of the user: Young people are more users of e banking as compared to the old ones.

4. Influence from friends & family: This factor also plays a vital role in e banking adoption as people adopt something easily if their friends and family convince them.

5. Geographical location of user: Although if someone is living in a village definitely reaching a physical bank is more cumbersome than city still we see more people from city using e banking. So if we convince villagers, they would easily become e banking users, provided everything explained to them properly.

6. Internet services: If the internet services and bandwidth is not up to the mark, e banking adoption really becomes a challenge.

7. Convenience: If explained properly definitely people would choose e banking over physical banking as it is lot more convenient.

There is also a very big issue of privacy security involved with e banking which plays a very significant role as to why people run away from it. Following are the dimensions that customers look for in a e banking system w.r.t privacy and security:

1. Data privacy: How secured are the customers data while using banking, proper systems have to be implemented so no data would be leaked.

2. Money safety: People are usually scared that if they do an online transaction, there is a chance of money being stolen, so the firewalls should be strong enough so no data can be hacked.

3. Trust: It’s very difficult to convince the customers that they would receive same services online as provided offline, so a sense of trust is to be made.

4. Forgery: There can be cases of the account be hacked, or OTP misused resulting in forgery which prevent users from adopting e banking.