Question

In: Finance

1. List 5 important factors as to why one would conduct a research online banking. 2....

1. List 5 important factors as to why one would conduct a research online banking.

2. What are 5 advantages of online banking?

3. Why should one consider exploring online banking?

Solutions

Expert Solution

Factors on Research on online Banking

1. The biggest factor would be the cost associated with the services offered on the online banking. For example if a service is offered both on branch and online but majority is carried out online then the human resources can be routed to other services.

2. The research could be to increase revenue. For example, if a customer is willing to buy a Fixed deposit or Mutual Fund by showing a pop-up then it would increase revenue without much additional cost.

3. Gap Analysis. It is carried out to know what more customers expect from the service provider. This would help in knowing which new services to offer on its online banking platform

4. Usage Pattern. This can help to know track usage of online banking

5. Better Service. If a large number of customers use it for few tasks then those tasks can be listed and could be provided easily for better customer experience.

5 Advantages of online Banking

1. Customers do not have to come to Branch for small routine services. This helps bank keep less human resources thus cut costs. This will increase convinence for customers.

2. Customer activity on site can be tracked easily thus Bank can cross sell and up sell products in a better way

3. Customers using online services would use less cash thus decrease the bank's strain on cash movement will decrease thus more cost saving. Customer would have more convinience as money transfer will be just fingertips away.

(Sorry. I can only answer 1 question at once)


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