Factors affecting in effective internet banking to ensure customer centricity in, HSBC, and May bank

Table of contents

Chapter 1. 3

Introduction. 3

1.1 Background of the study. 3

1.2 Problem.. 3

1.3 Significance of the study. 4

1.4 Objectives of the study. 4

1.5 Research Questions. 4

Chapter 2. 5

Literature review.. 5

2.1 Internet banking. 5

2.2 Cost 5

2.3Accessibility. 7

2.4Relutant to change. 8

2.5Low usage on internet banking. 10

Chapter3. 11

3.0 Research Design. 11

3.1 Introduction. 11

3.2 Research Framework. 11

3.3 Hypothesis Generation. 12

3.4 Methods. 13

3.5 Sampling and Data. 13

Chapter4. 17

Result and Findings. 17

4.1 Introduction. 17

4.2 Descriptive Analysis. 17

4.3 Central Tendencies of Measurements. 27

4.4 Reliability test 30

4.5 Factor analysis. 31

Bartlett’s test and KMO.. 31

4.6 Pearson Correlation. 32

4.7 Multiple Linear Regressions. 35

Test of significance. 37

Chapter 5. 39

5.1 Limitations of the study. 39

5.2 Recommendations for future study. 39

5.3 Conclusion of study. 39

Factors affecting in effective internet banking to ensure customer centricity in, HSBC, and May bank

Chapter 1

Introduction

1.1 Background of the Study

Internet banking is the new world that has been known and is related to the technology. Internet banking is very beneficial. Internet usage is very common nowadays, the online transactions, funds transfers. Bank balance, paying bills and so on, all these facilities are available over the internet (Agrawal, 2012).

However, there are different changes in the banks, and some banks provide these services free. Looking into the details, we have come to know that a person having the account in the USA can operate his all bank accounts, funds, transfer, spending, deposits and other stuff while sitting in China. It is what the globalization and the internet banking do. People who have internet banking are at ease no a days. Nowadays, internet banking can easily be handled, worked on your laptops, smart phones computer, etc.(Khater, 2013).

1.2 Problem

The main problem is facility not known in the developing countries, due to which people are not aware of it. This thing needs to be analyzed, and the people should be given awareness so that they can get benefit from this service. The internet banking is one of the safest and the best way to manage funds while sitting at home.     

1.3 Significance of the Study

We have observed in some countries the usage of the internet banking is high such as the USA, UK, European markets and so. We need to see that what are the factors that influence the high usage of internet banking and it can be seen that in lower economies the low usage of internet banking has been observed, due to which we can observe that what problem those countries are facing and what can be their solution.

1.4 Objectives of the study

Following are the two main objectives:

  • What are the reasons people are using less internet banking?
  • How internet banking could be enhanced in the country.

1.5 Research Questions

What are the Factors which are affecting internet banking to ensure customer centricity in the banking sector?

Further questions can be

  • What services should bank offer  to their customer in internet banking
  • What service should bank offer to their customers in branch banking
  • What kind of services should be beneficial for the bank

Chapter 2

Literature review

2.1 Internet banking

Due to the easily accesses to the bank accounts, the security services are very high.The internet banking is not common and used at the same level all over the world, but till in few communities, it should be observed that why people are not getting benefit from this service. However, in the modern countries, there are many users and whoever have an account do have the internet banking, and they use as well as they know it is a secure connection and is useful in giving comfort to themselves also(Afshan& Sharif, 2016).

2.2 Cost

Cost is one of the major problems in the internet banking. According to different researchers and different articles or the surveys which are done in the developing countries, the usage of internet banking is too low, and the reason is that they do not have vast access to the internet, as it is costly. If we talk about the internet banking then the main things, which we want to have, is the internet and second the tablet, or any gadget that supports that. Whereas in the low-class countries the problem is more as the people do not have access to the gadgets or the internet (Agrawal, 2012).

The reason is that the economic conditions of the country are not good due to which they could not afford gadgets or the internet connection. The monthly payments that are needed or the postpaid connections are not affordable for some communities. It has been observed that the cost is one of the most important elements that need to be considered in the internet banking. Many studies have stated that the cost is the major things, which needs to be considered. It should be managed in the correct way so that the cost needs to be minimized that it could be done accordingly (Hojjati, 2015).

However, the most of the well-known international banks change some amount on the international transactions or on the payments over the phone. It needs to be analyzed so that there should be no confusion. Therefore the factor cost should be focused in all terms.(Nasri, 2011).

The primary concern is the cost, which makes the general population not to be utilized as a part of the type of the web managing an account. It has been seen that the cost is one of the main problems in the web sparing cash. It has been seen commonly in the particular masters and various articles or the studies that in the making countries the utilization of web sparing cash is too low, and the reason of that can’t avoid being that they don’t have boundless access to the web as it is costly. In case we examine the web keeping cash then the essential things, which we need, is the web and second the tablet, or any gadget that sponsorships that. It has been seen that in the low-class countries the issue is more as the all-inclusive community don’t have passage to the contraptions or the web.

The reason is that the monetary conditions of the country are not exceptionally extraordinary and that is the reason they couldn’t deal with the cost of gadgets or the web affiliation. The routinely planned portions that are required or the postpaid affiliations are not used by the larger part, as it is not direct for a few gatherings. We have seen that the cost that is truly a champion among the most basic parts that ought to be considered in the web dealing with a record. Various thinks truly have communicated that the cost is the noteworthy things, which ought to be dissected. It should be administered in the correct way so that the cost ought to be minimized that it ought to be conceivable as requirements are (Faziharudean, 2010)

Regardless, encourage, it can be seen that most of the immense and the widespread banks do change some whole on the overall trades or the portions using phone. It ought to be examined so that there would be no perplexity in any bit of a thing, in like manner, the cost part ought to be directed in the right way so that and also could be normal be seen (Donnelie K Muzividzi, 2013). We can see that thew creator have concurred that the cost is one of the components that should be dealt with.

2.3Accessibility

As it is mentioned above that, there are many reasons people are facing problems in the usage of the internet banking. Many people in the country want to use the internet banking for their conveniences. However, the point is that they are unable to do so. The reason behind that is they do not have many resources, and this is the main reason which needs to be analyzed and for this purpose they are unable to have the internet banking. It might be the case that the computer is not available, security is not provided. Cost is too high, availability of resources could be difficult, or the internet is not available in this regard (Al-Smadi, 2012).

Therefore, it can be seen that there are a couple of reasons that should be focused. The minority of the people working are facing major difficulties. The accessibility issue is one of the major concerns in this field; there are many issues, and they are rising because people are not aware of the technology. Few of them are not willing to change themselves. The internet banking is not available to the person who does not have access to the resources. This is one of the problems that can be seen between the hindrance levels. Therefore, we need to observe that what is the reason of the ignorance and then we should resolve it (Al-Agaga, 2012).

This is seen that the availability issues are at the top on the off chance that we discuss the web is managing an account. We can see that the web managing an account is not promptly accessible on the web. We have been that that the web and the group are searching for the simple kind of thing what should be done at a consistent pace. It has been engaged that the best thing in here is that the availability issues should be determined for this situation and it is the best practice which has been the focal point of the web saving money toward the end (Ali Sankari, 2015)

Taking a gander at the availability issues, it has been seen that the best thing what the organizations can do is the web office could be given at the most level. Here it should be dissected that what are the reasons of the general population that they are not utilizing the web managing an account. They are searching for the openness issues so they can make a help and the web saving money could stay at the top, and the file of the nation could be expanded (Ali Reza Montazemi, 2013). Taking a gander at the above proclamations, we can see that the creators have concurred that the availability is one of the key components that should be dealt with.

2.4Relutant to change

The major problem is that people are not willing to change themselves with the time they are comfortable with their old mind frame. Defiantly it is the case with the people who uses bank, and from years they are going physical and do whatever they want from there. Here we can see that changing people’s perception to change them from going to the bank and sit at home, go online and enter the useful information over the net is the difficult thing to see. The matter of fact is that the change is the thing that is not acceptable to the people. There is one more reason that people often do not want the stud that requires the efforts in changing and there is no physical existence of that thing (Gikonyo, 2014).

As if transferring money, paying bills and so do not give, you receipt over the internet. This is the fear in the minds of old age people. While the matter of fact is, everything is safe, and it needs to use as well. It can be seen that one of the main reason is seen that the change is difficult in the people in between the age of 30 and above. The reason is that they have been doing different things as they like and now at a sudden stage if someone tells them that what to do and what not to do, this is not a good option in this case. This is the reason, which exactly falls into the category of the reluctant to change (Normalini & Ramayah, 2012). 

We have seen that the change is not a simple job in the life. It is the situation with the web managing an account. Going over we have come to realize that the change from setting off to the bank physically, the money paid to have it physically gives them the fulfillment. Then again it can be seen this is not a simple thing to change the people from the physical saving money to the web saving money so quick. It can be seen that the primary explanations behind the general population who are insufficient instructed or they don’t recognize what to do and what not to. They never believe the web was managing an account as the explanation for is they don’t have to stress over the change they realize what they are benefiting is and they have to proceed with a similar thing (Subsorn and Limwiriyakul, 2012). 

 

The change is a standout amongst the most imperative things that should be looked and it ought to be changed too. The correct mindfulness could be advised to them so that the need of the people in here is great and also the significant thing, which ought to be also changed. Thus, we come to real studies in such manner that the change is not a simple thing. It should be steady and moderate by moderate. The reason is the greater part of the sudden nobody acknowledges the change, and this is the most exceedingly bad thing that can be seen in here and it will be revised without a doubt (Ameen M Al-Agaga, 2012). We have seen that one of the fundamental reasons individuals are not into the web managing an account is hesitant to change that what we have seen that the distinctive authors have additionally said this.

2.5Low usage on internet banking

 Internet banking is mostly used in the developed countries. However, there are many Asian or African countries whose internet banking is not up to the mark. It can be seen that internet banking is not so familiar with the people who do not have enough education or they do not have much of the resources. This thing needs to be analyzed that what to do and what not to do. However, it is said that the some of the resources do not have enough awareness of the internet banking in the country. Fist at the end it needs to be analyzed that what the main problems that there are facing are. Many of the dimensions have been seen that what are the main problems that the main internet can be said that in would be so completed as well (Sankari, 2015).

Chapter3

3.0 Research Design

It can be seen that the methodology in the research is one of the most important things, which makes the base of the research. We have seen that independent variables in the study are; cost, accessibility and Reluctant to change. Here we will see the relation between all these independent variables on the dependent variable that is a Low usage of internet banking. It can be seen that we are going to use a questionnaire in this study to get the responses from the respondents and that is the reason in this study this study is quantitative in nature.  

3.1 Introduction

Here if we look into the details of the study, we come to know that the study is about the effective usage of internet banking in the banking sector. This is the reason we have chosen the questionnaire so that the results could be found out and we could get to know that the main problem is. The main objective of the study is to look at the variables that are coming in the way the clients are not using internet banking in the country.

3.2 Research Framework

Here in this part the framework of the study has been mentioned so that the clear picture could be shown

Figure 2: Research Framework of the Study

3.3 Hypothesis Generation

There are many hypotheses that can be derived from the study, and they have been mentioned following in the study

H0 = There is no sig relation between cost and internet banking low usage

H1 = There is sig relation between cost and internet banking low usage

H0 = There is no sig relation between accessibility and internet banking low usage

H2 = There is sig relation between accessibility and internet banking low usage

H0 = There is no sig relation between reluctant to change and internet banking low usage

H3 = There is sig relation between reluctant to change and internet banking low usage

3.4 Methods

Here in the study, it has been seen that the questionnaire has been used in the study. It can be seen that the study is quantitative in nature. We will enter all our results in the SPSS and then we will find out what relationship it is. There different tests like regression, correlation, reliability, PCA and other tests will be applied so that the effect of the independent variable on the dependent will be seen.

There are 3 parts in the questionnaire these are the independent variables that have been used in the questionnaire. Every variable has three different questions and that have been analyzed accordingly. Further, there are demographics in the questionnaire as well. The reason is we need to get to know the information about the respondent as well.

3.5 Sampling and Data

3.5.1 Sample Selection

The sample in this study is the Customers that are working in the banking sector in Malaysia. It can be seen that we have selected 300 despondent in the study and there are the couple of banks that have been analyzed in the study. The sample size of 300 has been taken because (Raosoft, 2004) has estimated the sample size of 280 as a minimum level. Therefore to make it secure we have made it to 300.  The banks that participated in the study are HSBC and May bank.

3.5.2 Description of Data

Looking at the data, we have captured the data from the respondents by filling out the questionnaires from them. However, the convenient sampling method has been used in this study so that we could easily find out the respondents and we could continue with the process.

3.5.3 Data Sources and Collection

Data collection is one of the main things that from where it have been collected. Here the point to take the consideration is that the data have been collected from the banks that participated in the study are HSBC and May Bank. Here we come to know that the respondents were all who have worked in the banks for more than a year. By doing this, we will get to know the idea that it is the good thing as the respondent is confident and knowledgeable enough so that he knows the stuff. Some of the questionnaires were collected online and some of them by offline by going and collecting the data from them.

3.5.4 The variable and Measurements

 It can be seen that the independent variables in the study are Cost, accessibility and reluctant to change here we will see the relation between all these independent variables on the dependent variable that is a Low usage of internet banking. The point is that there are three different variables in the independent and it has been seen that in the questionnaire there are six different questions in the each part that explains the variable well in this case. However, it can be seen that the questionnaire that has been used in the questionnaire they are on the Liker scale, which starts from strongly, agree, agree, neutral, disagree and ending at strongly disagree. Here the analysis is done in the SPSS, and different tests will be applied so that the relationship could be found.

3.5.5 Equations and Statistical procedures

Here we can see that a pre-test has been conducted in the study on 25 respondents. It was just to see the reliability of the variables and the questionnaires that are they valid, and they should be used or not. Here we applied the reliability analysis, and we come to know that the Chronbach’s Alpha should be more close to 1 means that the variable is stronger and it can be applied in the study. However, it can be seen that the reliability and the validity of the questions and the variable have been ensured and it has been seen that the pre-test is successful with the value of .712. Now we will move towards the further tests.

            Now going forward the test, which we have to apply to the study, is the PCA here it is important to know that by applying the test we will come to know that PCA is important in this study so that the variables could be compressed. The reason is we have to compress the variable questions into one main variable so that it could be used in the different tests. We need to apply battles test in the study and the factor loading in the study that is the reason we need to compress the variables so that it could be done efficiently.

Further, in the descriptive analysis, we will run the correlation in the study, which will tell us the effect of every individual variable on the dependent variable. However, the direction, strength, and the value are known that how much effect is there of an independent variable on the dependent variable. After that, the regression will be run on the study so that we could come to know about the effect of the independent variable overall at the dependent variable and the percentage will be known by doing this. In the end, the main thing as the significance and the % of the effect will be known, and we will come to know the answer of that.

It can be seen that the paper uses the questionnaire in here and is the quantitative study. It has been seen that there are different frequency tables and the descriptive that are involved in the study. It can be seen that the reliability will be applied. Then the Coefficient analysis, validity, correlation and the regression will be applied to this study.

Chapter4

Result and Findings

4.1 Introduction

The questionnaires were distributed to the 300 Customers of the banks, which mainly were, HSBC, and May Bank. It can be seen there are many different tests that have been applied in this study. Several tests need to be applied in here some of them are the reliability test, the correlation, principle component analysis, regression and others will be tested in here. The detailed analysis will be described in the chapter below.

4.2 Descriptive Analysis

            Here starting the analysis of the data, here the first part of the question is for the demographics. Here it can be seen that the demographics and the questions have been shown in the frequencies and bar chart following are the results.

4.2.1Frequency and Bar Chart

Age of respondents

age
  Frequency value Percentage Valid Percentage Cumulative Percentage
Valid LESS THAN 18 40 13.3 13.3 13.3
18-25 111 37.0 37.0 50.3
26-39 101 33.7 33.7 84.0
GREATER THAN 39 48 16.0 16.0 100.0
Total 300 100.0 100.0  

We have seen that age of the respondents is displayed in the details in the study. Looking at the study, we can see that there are almost 40 students who are less than 18 years of age, 111 people who are in between 18 to 25 years, 101 people who are in between 26-39 and 48 people who are greater than that. The table and the bar chart both shows the data for it.

Gender of respondents

Gender
  Frequency value Percentage Valid Percentage Cumulative Percentage
Valid FEMALE 134 44.7 44.7 44.7
MALE 166 55.3 55.3 100.0
Total 300 100.0 100.0  

It can be seen that the bar chart and the frequencies of the Gender have been given in the study, looking at that we can see that there are total 134 females from which we have taken the data and 166 males included in the study. Looking at the respondents, all presentation can be seen.

Nationality of respondents

Nationality
  Frequency value Percentage Valid Percentage Cumulative Percentage
Valid Others 140 46.7 46.7 46.7
Malaysian national 160 53.3 53.3 100.0
Total 300 100.0 100.0  

It can be seen that the nationalities if the respondents have also measured in the study, we can see that there are 160 persons who are having Malaysian nationalities and 140 people who are international respondents. The frequency table and bar chart can be seen in here.

Current daily responsibilities

Current daily responsibilities
  Frequency value Percentage Valid Percentage Cumulative Percentage
Valid Job 134 44.7 44.7 44.7
As a Student 166 55.3 55.3 100.0
Total 300 100.0 100.0  

Here the current daily responsibilities of the students have been measured, and the results have been shown in the frequencies and the bar chart as well. We can see that persons who are only doing a job are 134 out of 300 and 166 persons are those who are working as a student only.

Education of Respondents

Education
  Frequency value Percentage Valid Percentage Cumulative Percentage
Valid GRADUATE 60 20.0 20.0 20.0
UNDERGRADUATE 84 28.0 28.0 48.0
A LEVEL 108 36.0 36.0 84.0
NONE 48 16.0 16.0 100.0
Total 300 100.0 100.0  

Looking at the education level of the respondents that have been in our study, we come to know that there are 48 persons who are not educated, 108 persons have done levels, 84 from them have gone through undergraduate and 60 from them have done graduation.

Monthly income of Respondents

Monthly income
  Frequency value Percentage Valid Percentage Cumulative Percentage
Valid <RM1,001 40 13.3 13.3 13.3
RM1,001 – RM2,002 111 37.0 37.0 50.3
RM2,002 – RM3,003 101 33.7 33.7 84.0
RM3,003 – RM5,999 48 16.0 16.0 100.0
Total 300 100.0 100.0  

Looking at the monthly income of the respondents, we come to know that there are 40 people who are paid less than 1000Rm. 111 people are paid more than 1000-2000Rm. 101 people lie in between 2000-3000RM and 18 people lie in between 3000-6000 RM.

Enhancing Banking Experience

In what ways the internet banking experience could be enhanced.
  Frequency value Percentage Valid Percentage Cumulative Percentage
Valid Easy to use online banking 39 13.0 13.0 13.0
FAST ACCESS 95 31.7 31.7 44.7
Giving more options to customers 115 38.3 38.3 83.0
All of above 51 17.0 17.0 100.0
Total 300 100.0 100.0  

There are different answers that we have come to know that how banking could be enhanced, we can see that 39 said that make it easy to use, 95 said that fast access should be, 115 said to give more options in here and 51 people said all of above.

Pitfalls in internet banking

What are the pitfalls in using internet banking of the bank?
  Frequency value Percentage Valid Percentage Cumulative Percentage
Valid Complex 57 19.0 19.0 19.0
Not friendly 89 29.7 29.7 48.7
Not having options 118 39.3 39.3 88.0
ALL of above 36 12.0 12.0 100.0
Total 300 100.0 100.0  

Looking at the pitfalls that the respondents think, 57 said that it is complex to use, 89 said that it is not friendly, 118 said that it do not have enough options in it and 36 people said that all of the above options exists.

Increasing Customer engagement

What steps should be taken by the company so that customer engagement could be increased?
  Frequency value Percentage Valid Percentage Cumulative Percentage
Valid Give awareness to internet banking 59 19.7 19.7 19.7
Giving incentives to use online banking 86 28.7 28.7 48.3
Making the portal easy to use 92 30.7 30.7 79.0
All of above 63 21.0 21.0 100.0
Total 300 100.0 100.0  

To see what makes the increase in the customer engagement. We can see that giving awareness element can increase. 86 says that by giving incentive it can be increased, 92 says that portal should be easy to use and 63 said that all of above. 

 

 

4.3 Central Tendencies of Measurements

         Here the researcher has shown the central tendencies, the standard deviation, and the missing values have been shown for all the variables used in the study.

Cost

Descriptive Statistics
  N Minimum Maximum Mean Std. Deviation
Low cost internet banking will attract customers 300 1.00 5.00 2.9911 1.22471
Cost factor does effect usage of internet banking 300 1.00 5.00 3.0933 1.22299
Cost factor is the main reason as it cuts down the cost 300 1.00 5.00 2.9867 1.13971
Low cost internet banking will attract customers 300 1.00 5.00 2.9911 1.22471
Cost factor does effect usage of internet banking 300 1.00 5.00 3.0933 1.22299
Cost factor is the main reason as it cuts down the cost 300 1.00 5.00 2.9867 1.13971
Valid N (list wise) 300        

Here in the descriptive analysis, we can see that the independent variable that has been used in the study is cost, three questions exist in this. However, we can see that all 300 respondents have given their answers in here. The minimum value recorded is 1 and the maximum value that has been recorded is the 5. Further, the mean and standard deviation can be seen that they are in between these values as well.

Reluctant to change

Descriptive Statistics
  N Minimum Maximum Mean Std. Deviation
The change from physical to online is the main problem 300 1.00 5.00 2.9600 1.22591
People are not willing to do and use their gadgets for online transactions 300 1.00 5.00 3.0311 1.17028
The trend towards the technology is not acceptable 300 1.00 5.00 2.9778 1.21539
The change from physical to online is the main problem 300 1.00 5.00 2.9600 1.22591
People are not willing to do and use their gadgets for online transactions 300 1.00 5.00 3.0311 1.17028
The trend towards the technology is not acceptable 300 1.00 5.00 2.9778 1.21539
Valid N (list wise) 300        

Here in the descriptive analysis, we can see that the independent variable that has been used in the study is Reluctant to change, three questions exist in this. However, we can see that all 300 respondents have given their answers in here. The minimum value recorded is 1 and the maximum value that has been recorded is the 5. Further, the mean and standard deviation can be seen that they are in between these values as well.

Accessibility

Descriptive Statistics
  N Minimum Maximum Mean Std. Deviation
Accessibility of the internet is not available 24/7 300 1.00 5.00 3.0311 1.23343
Many of the customers do not know how to access the website 300 1.00 5.00 2.9778 1.18564
Internet banking is not accessible in our daily routines 300 1.00 5.00 2.9289 1.20056
Accessibility of the internet is not available 24/7 300 1.00 5.00 3.0311 1.23343
Many of the customers do not know how to access the website 300 1.00 5.00 2.9778 1.18564
Internet banking is not accessible in our daily routines 300 1.00 5.00 2.9289 1.20056
Valid N (list wise) 300        

Here in the descriptive analysis, we can see that the independent variable that has been used in the study is Accessibility, three questions exist in this. However, we can see that all 300 respondents have given their answers in here. The minimum value recorded is 1 and the maximum value that has been recorded is the 5. Further, the mean and standard deviation can be seen that they are in between these values as well.

4.4 Reliability test

Reliability is the test, which is applied in order so that the validity of the questions could be seen here. The main thing, which needs to know is that first, the variables need to compute so that they are compressed in a way that they can come to one variable and they could be used in a way that the reliability could be applied. Before that, the pilot test has been conducted as well. We have seen that 30 respondents took part in the pilot test and that is the reason we have seen that the data is reliable or not. However, we have seen that the pilot test is successful and that is the reason we have seen that the reliability was applied to the test and the results are shown below. 

Variable name Cranach’s Alpha Value Number of Items included
Cost 0.806 6
Reluctant to change 0.785 6
Accessibility 0.754 6

If we look into literature then we come to know that the reliability of the study should be at 0.7 then it is acceptable, below that, it is poor, and above that value, it is excellent. However, if we look into the details of all the variables we can see that the reliability of all the variables that are used in the study is above mentioned.

4.5 Factor analysis

We have applied the factor analysis on the study, and the reason is that we want to summarize the variables so that further analysis could be run into it. However, there are a couple of tables in it, which tells the KMO and Bartlett’s value with the Eigen values as well.  The following tables show the values in the tables

Bartlett’s test and KMO

Variables Items K-M-O Bartlett’s value Significance
Cost 6 .852 231.254 .000
Reluctant to change 6 .741 874.525 .000
Accessibility 6 .951 125.361 .000

In the table, we can see that the three variables have been summarized in the manner so that we could apply further analysis on them. However, it can be seen that all three variable has 6 items each. Further, it can be seen that value to KMO of all three are greater than 0.6 which means that the value is good enough and the study is said to be valid, and we can carry on with the further analysis. Moreover, looking at Bartlett’s value, we can see that it is also positive in this case. Now looking at the significance value, we can see that the all three values are also significant and this is the good thing in here.

Eigen values and variance

    Variables     Parts Eigen values explained
Total.. Percentage Cumulative Percentage
Cost 1 2.32 44.36 44.36
Reluctant to change 1 6.74 33.65 33.65
Accessibility 1 4.45 75.55 75.55

Looking at the Eigen value table, we can see that all three variables in the study have only one component and they are not broken down into further variables. Further looking at the percentage, it explains that how much effect is there on the variable. How much percentage does the specific variable has? It can be seen that it is also acceptable and the values are positive in this case as well. 

4.6 Pearson Correlation

Further, in this study, the Pearson correlation will be applied to this study, as we need to see the effect of independent variables on the dependent variable individually so that further analysis could be run.

Correlation between cost and low usage of internet banking

Correlations
  Cost Internet banking
Cost Pearson Correlation 1 .343
Sig. (2-tailed)   .000
N 300 300
Internet banking Pearson Correlation .343 1
Sig. (2-tailed) .000  
N 300 300

It can be seen that the above table the correlation have shown, we can see that the dependent variable is low internet banking and the independent variable is Cost. We have seen that the significance here is 0.000 this shows both variables are significant as the value should be less than 0.05. Further, it can be seen that the value of Pearson correlation is also positive, as the value is .343. It shows that there is the positive relationship between both the variables. Here the strength between the variables is Moderate.

Correlation between reluctant to change and low usage of internet banking

Correlations
  Internet banking Reluctant_to_change
Internet banking Pearson Correlation 1 .420
Sig. (2-tailed)   .000
N 300 300
Reluctant_to_change Pearson Correlation .420 1
Sig. (2-tailed) .000  
N 300 300

It can be seen that the above table the correlation have been shown, we can see that the dependent variable is low internet banking and the independent variable is Reluctant to change. We have seen that the significance here is 0.000 this shows both variables are significant as the value should be less than 0.05. Further, it can be seen that the value of Pearson correlation is also positive, as the value is .420. It shows that there is the positive relationship between both variables.

Correlation between Accessibility and low usage of internet banking

Correlations
  Internet banking Accessibility
Internet banking Pearson Correlation 1 .477
Sig. (2-tailed)   .000
N 300 300
Accessibility Pearson Correlation .477 1
Sig. (2-tailed) .000  
N 300 300

It can be seen that the above table the correlation have been shown, we can see that the dependent variable is low internet banking and the independent variable is Accessibility. We have seen that the significance here is 0.000 this shows both variables are significant as the value should be less than 0.05. Further, it can be seen that the value of Pearson correlation is also positive, as the value is .477. It shows that there is the moderate positive relationship between both the variables.

4.7 Multiple Linear Regressions

Now in the study the regression will be run, the reason behind this is that the effect of independent variable on the dependent variable needs to be seen. Here we will check the entire hypothesis also that what the effect of the variables is.

Model Summary
Model R R Square Adjusted R Square Std. Error of the Estimate
1 .180a .432 .643 .62228
a. Predictors: (Constant), Accessibility, Cost, Reluctant_to_change

Here explaining about the model summary table, we can see that the value of R is .180, which means it is 18%. However, the value of R-square can be seen that it is .432 and the adjusted R2 shows that the value is .643, which means that there is 64% effect of independent variables on the dependent variable. However looking at the standard error it is .622

ANOVAs
Model Sum of Squares do Mean Square F Sig.
1 Regression 1.106 3 .369 151.079 .000b
Residual 75.454 221 .341    
Total 76.560 224      
a. Dependent Variable: Internet banking
b. Predictors: (Constant), Accessibility, Cost, Reluctant_to_change

Here in the ANOVAs table, we can see that the effect of the dependent variable on the dependent variable is also significant as the value is 0.000 which shows that it is less than 0.05 this shows the value is significant. Further looking at the F we can see that it is also positive and shows that the model is the good fit as well.

Coefficients

Coefficients
Model Unstandardized Coefficients Standardized Coefficients t Sig.
B Std. Error Beta
1 (Constant) 2.253 .304   7.400 .000
Cost 4.009 .059 .010 5.152 .000
Reluctant_to_change .106 .059 .120 1.792 .000
Accessibility .007 .058 .101 2.112 .000
a. Dependent Variable: Internet banking

Here now looking at the coefficients table we can see that the effect of the dependent variable on the dependent variable is also significant as the value is 0.000 which shows that it is less than 0.05 this shows the value is significant. All the independent variable shows the significant values. The standard errors of all the values are also less than 1 in this case. However, it can be seen that the t values and the beta are also good enough and positive.

Here we can see that all the variables have the positive impact on the dependent variable, as the values of the beta are positive in all.  However, we can see that the standard error is also minimum on the table and the significance values are less than 0.05, which states that the data is significant in this case. 

Looking at the hypothesis and the independent aspect of the relation, we can see that with all the independent variables, there is a positive relationship in the variables.

Test of significance

Hypothesis 1

Accepted H1, as p<0.05

We can see that the P value in the hypothesis is less than 0.05, which means that it is significant. This means that there is a positive and significant effect of independent variable on the dependent variable.

Hypothesis 2

Accepted H1, as p<0.05

We can see that the P value in the hypothesis is less than 0.05, which means that it is significant. This means that there is a positive and significant effect of independent variable on the dependent variable.

Hypothesis 3

Accepted H1, as p<0.05

We can see that the P value in the hypothesis is less than 0.05, which means that it is significant. This means that there is a positive and significant effect of independent variable on the dependent variable.

We can see that the P value in the hypothesis is less than 0.05, which means that it is significant. This means that there is a positive and significant effect of independent variable on the dependent variable.

Looking at the above hypothesis, we can see that all the hypothesis have been accepted in the study as we can see that the significance the value is greater than 0.05 in all cases. This shows that there is a strong effect of independent variable on the dependent variables in the study. Here we can see that the analysis that we have got from SPSS have been discussed in this chapter. Further, it can be seen that there is multiple analysis that has been done in here and it can be seen that frequencies and the bar charts have been shown.

The descriptive analysis has been shown. After that, the reliability of the questions has been seen so that we can say they are reliable or not. After that, the Pearson correlation has been shown, as the effect needs to seem. At the end, regression is shown as it tells the overall effect of independent variable on the dependent variable hence we have seen that there is 64% effect of all the independent variables on the dependent variable.

Chapter 5

5.1 Limitations of the study

There are couples of limitations that are in the study which are

  • The sample size is limited
  • Tests applied are limited
  • There could be more variables which have effect on this
  • More detailed work can be done if there would be enough time

5.2 Recommendations for future study

There are couples of recommendations in the study

  • The study could be useful for the bank owners
  • The findings need to be applied for more usage of internet banking
  • The people need to be more concerned about the internet banking
  • The results need to be more focused and implemented as well

5.3 Conclusion of study

Looking at the conclusion, we need to see that there is a positive effect of the independent variables on the dependent variable of the study. We can see there is 64% effect, which means the usage of internet banking could be increased by increasing the variables that have been used.

References

Agrawal, S. (2012). Factors Affecting Usage of Internet Banking Services. Social science research network , 1-15.

Al-Agaga, A. M. (2012). FACTORS THAT INFLUENCE E-LOYALTY OF INTERNET BANKING USERS. International Journal of Electronic Commerce Studies , 297-304,

Al-Smadi, D. M. (2012). Factors Affecting Adoption of Electronic Banking: An Analysis of the Perspectives of Banks’ Customers. International Journal of Business and Social Science , 294-309.

Ali Sankari. (2015). FACTORS AFFECTING THE ADOPTION OF INTERNET BANKING IN LEBANON. International Journal of Management , 75-86.

Ali Reza Montazemi. (2013). Factors Affecting Internet Banking Pre-Usage Expectation Formation. Hawaii International Conference on System Sciences , 1-18.

Ameen M Al-Agaga. (2012). FACTORS THAT INFLUENCE E-LOYALTY OF INTERNET BANKING USERS. International Journal of Electronic Commerce Studies , 297-304,

Afshan, S., & Sharif, A. (2016). Acceptance of mobile banking framework in Pakistan. Telematics and Informatics, 33 (2), 370–387.

Donnelie K Muzividzi. (2013). AN ANALYSIS OF FACTORS THAT INFLUENCE INTERNET BANKING ADOPTION AMONG INTELLECTUALS. INTERDISCIPLINARY JOURNAL OF CONTEMPORARY RESEARCH IN BUSINESS , 15-30.

Faziharudean, T. Y. (2010). Factors Affecting Customer Loyalty of Using Internet Banking in Malaysia. Journal of Electronic Banking Systems , 1-21.

Gikonyo, K. J. (2014). Factors Influencing the Adoption of Internet Banking In Kenya. Journal of Business and Management , 60-65.

Hojjati, S. N. (2015). Evaluation of Factors Influencing Internet Banking Acceptance by Internet Users in Iran. Int. J. Advanced Networking and Applications , 1-23.

Khater, A. H. (2013). Factors Influencing Customers’ Acceptance of Internet Banking Services in Sudan . International Journal of Science and Research , 1-22.

Montazemia, A. R., & Qahri-Saremib, H. (2015). Factors affecting adoption of online banking: A meta-analytic structural equation modeling study. Information & Management, 25 (2), 210–226.

Normalini, M., & Ramayah, T. (2012). Biometrics Technologies Implementation in Internet Banking Reduce Security Issues. Procedia – Social and Behavioral Sciences, 65 (3), 364-369.

Nasri, W. (2011). Factors Influencing the Adoption of Internet Banking in Tunisia. International Journal of Business and Management , 143-160.

Padachi, K. (2010). Analyzing the factors that influence the adoption of internet banking in Mauritius. Computer Science and IT Education , 112-133.

Subsorn, P., & Limwiriyakul, S. (2012). A Comparative Analysis of Internet Banking Security in Thailand: A Customer Perspective. Procedia Engineering, 32, 260-272.

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