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Effect of Service Quality Dimensions on Adoption of Internet Banking– an Empirical Investigation of Customer’S Perspectives in Kerala

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Effect of Service Quality Dimensions on Adoption of Internet Banking– an Empirical Investigation of Customer’S Perspectives in Kerala International Conference on Business, Finance and Geography (ICBFG'2012) December 18-19, 2012 Phuket (Thailand) Effect of Service Quality Dimensions on Adoption of Internet Banking– An Empirical investigation of Customer’s Perspectives in Kerala Dr. G S Gireesh Kumar, Bijoy A P and Ajimon George Abstract-The purpose of this research is to examine the Online banking is the practice of making bank interrelationship between the IB service quality dimensions and transactions, both informational and transactional, via, adoption of IB by customers in Kerala. Using a structured internet. Thanks to technology, and the Internet in questionnaire, primary data were collected from 240 IB users from particular, one can no longer have to leave the house. One both public sector banks and private sector banks, identified can shop online, communicate online and even randomly from various parts of Kerala. It is quite evident that adoption of IB by customers is a function of various service do banking online. Online banking allows us to make quality dimensions and extent of adoption is determined by the deposits, withdrawals and pay bills all with the click of a level satisfaction on various elements. Multiple regression was mouse. used to study the interrelationship between dependent variable Internet banking is defined as “the provision of retail and (Adoption i.e., Years of IB use) and independent variables (web small value banking products and services through security, reliability, responsiveness, fulfilment, efficiency and electronic channels. Such products and services can include privacy). The findings indicate that the strongest predictor based deposit-taking, lending, account management, the provision on Beta values is website security followed by privacy and of financial advice, electronic bill payment, and the responsiveness. The banks should take appropriate strategies and provision of other electronic payment products and services tactics to empower and delight customer force to popularise and penetrate IB services since it is cheap, convenient and easily such as electronic money”[1]. accessible. Findings of the study may assist banks immensely in According to Khalfan, et al.,[2] reasons for e-banking addressing the user problems and understanding their perceptions infrastructure investment include the promise of transaction influencing adoption decision. cost reduction by limiting overheads associated with bank staff and bank branch costs and to provide better services to Keywords--e-services, Internet Banking, IB adoption, Service customers who increasingly desire 24 hour banking. Indeed, quality dimensions, web security. Almogbil [3] note that a common reason for bank adoption of e-banking is to maintain the bank’s competitive position I. INTRODUCTION and image. HE marvellous kinds of innovation in technology and T hard line blend of it with information technology made II. STATEMENT OF THE PROBLEM a paradigm shift in the banking industry. Technology Changes in banks’ external environment, including itself created its world in the globe of human beings. globalization and deregulation, have made the banking Internet banking is a service that allows consumers to sector highly competitive. Banks find it hard to compete on perform a wide range of financial and non-financial price, and need to look at other ways to retain customers. services through a bank’s website. With the rapid diffusion As customers become more sophisticated, it becomes of the Internet, web-based banking has fast become an imperative for banks to consider the use of technology to alternative channel to provide banking services and respond to their continuously changing requirements. But products. current scenario in India shows that pace at which Internet banking is a kind of system that enables financial technology in Internet banking proceeds doesn’t march with institutions, customers, individuals or businesses, to access the customers’ usage rate. accounts, transact business, or obtain information on Modern banking is high-tech, electronic and tech-savvy. financial products and services through the Internet. Online Banking institutions are adopting most modern technology banking (or Internet banking) allows customers to conduct to deliver high value added and customised services at the financial transactions on a secure website operated by their doorstep of the customers round the clock. Though there is retail or virtual bank, credit union. deliberate attempt from banks to propagate and penetrate internet banking, it is seen that only a fraction of customers Dr. G S Gireesh Kumar, Associate Professor & Research Guide, are using IB services. There are diverse hidden risks Department of Commerce, Nirmala College, Muvattupuzha, Kerala-686 661, S. INDI, E Mail: [email protected] inherent in IB which de motivates a prospective customer to Bijoy A P, Department of Commerce, Nirmala College, use it. Existing literature reveals that studies conducted on Muvattupuzha, Kerala-686 661 the topic are scanty. Hence there is a dire need to conduct a Ajimon George, Associate Professor, Department of Commerce, study of this kind which is expected to be a pioneering on in Marian College, Kuttikkanam, ` Idukki District, Kerala-685585. the field. The proposed study intends to analyze customer 182 International Conference on Business, Finance and Geography (ICBFG'2012) December 18-19, 2012 Phuket (Thailand) adoption of IB, service quality dimensions in IB and the environment. Service quality in relation consists of nine interrelationship between the two. The problem is stated as clear dimensions: reliability, clout, reputation, awareness, “Effect of Service Quality Dimensions on Adoption of competitiveness, collaboration, accessibility, competence Internet Banking in Kerala – An Empirical assurance. The nine-dimensional construct identified shows investigation of Customer’s Perspectives”. The research paper is an attempt to answer the following high reliability and good validity in statistical terms. The intricate questions: findings of the study titled “Internet Banking Acceptance in 1. What are the IB Service Quality dimensions in the the Context of Developing Countries: An Extension of the banks of Kerala? Technology Acceptance Model” [10] indicate that the 2. Is there any interrelationship between Service Quality security, quality of the Internet connection and awareness dimensions and Adoption of IB? about Internet banking and its benefits have significant effects on the perceived usefulness (PU) and perceived ease III. REVIEW OF LITERATURE of use (PEOU) of Internet banking acceptance. It was Internet banking has been an area of interest to social scientists in many parts of the world. There are several revealed that the effects of education and trust also have significant studies conducted to analyse the perceptions of significant impact on the attitude towards the acceptance IB users on multitude of dimensions which influence the Internet banking. Factors affecting consumer acceptance use of IB. and adoption of Internet banking have been investigated in Mc Quitty and Peterson [4] referred to Georgia Institute many countries such as the US [11 &12], Europe [13, 14, of Technology study which revealed that the quality of 15, &16]. information, ease of ordering and reliability are significant in IB than security aspect. IV. OBJECTIVES OF THE STUDY Van Riel [5] made an extensive study on customer expectations on e service quality using 159 samples The present study is based on the following specific consisting of college students. Using the SERVQUAL objectives:- model five dimensions analysis covered e service quality 1. To identify various service quality dimensions in Internet dimensions such as tangibility, reliability, empathy, Banking in Kerala. customisation, security and responsiveness. Researchers 2. To study the interrelationship between adoption of IB by commented that companies improve the quality of their customers and service quality dimensions. services continuously making sure that they compete at the level of the highest standards in the market. V. HYPOTHESES Sarel and Marmorstein [6] argued that from customer’s To have a disciplined guidance to the enquiry, the following perspective, banks seem to be continuously improving the hypotheses were formulated and tested: service, offering more capabilities and increasing reliability. 1. The ‘Website attribute’ dimension of service quality Several respondents reported that having access to fast has a positive effect on adoption of IB. internet connections, at home or at work, made the 2. ‘Reliability’ dimension of service quality has a experience better. The study also revealed the various positive effect on adoption of IB. deficiencies involved in developing online capabilities. 3. ‘Responsiveness’ dimension of service quality has a Parasuraman et al. [7] conducted an extensive positive effect on adoption of IB. 4. ‘Fulfillment’ dimension of service quality has a exploratory study based on an empirically tested multiple positive effect on adoption of IB. item scale called E-S-Qual to assess service quality of 5. ‘Efficiency’ dimension of service quality has a online shopping providers. The identified 4 prominent positive effect on adoption of IB. factors which influence buying decision which are 6. ‘Privacy’ dimension of service quality has a efficiency, fulfilment, system availability and privacy. positive effect on adoption of IB. Huei-Chen [8] studied dimensions of consumer perceived online risks that
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