PERCEPETION OF SENIOR CITIZENS TOWARDS ONLINE

BANKING.

ACADEMIC YEAR 2020- 2021

A PROJECT SUBMITTED TO
UNIVERSITY OF MUMBAI FOR PARTIAL
COMPLETION OF THE DEGREE OF BACHELOR IN COMMERCE
(BANKING & INSURANCE) UNDER THE FACULTY OF COMMERCE

BY
RAJESHWARI MADASWAMI KONAR
ROLLNO: 21

UNDER THE GUIDANCE OF

MRS.SHAILASHRI UCHIL.

SIES COLLEGE OF COMMERCE AND ECONOMICS,

PLOT NO . 71/72 ,SION MATUNGA ESTATE,
T.V. CHIDAMBARAM MARG,
SION (EAST), MUMBAI – 400022.
 SIES COLLEGE OF COMMERCE AND ECONOMICS,
PLOT NO . 71/72 ,SION MATUNGA ESTATE,
T.V. CHIDAMBARAM MARG,
SION (EAST), MUMBAI – 400022.

CERTIFICATE

This is to certify that Miss Rajeshwari Madaswami Konar has worked and
duly completed her / his project work for the degree of Bachelor in Commerce
(Banking and Insurance) under the Faculty of Commerce and his / her project is
entitled, “Perception of Senior citizens towards online banking” under my
supervision.
I further certify that the entire work has been by the learner under my guidance
and that no part of it has been submitted previously for any Degree or Diploma
of any University.
It is her / his own work and facts reported by his/ her personal finding and
investigations.

_____________________ ________________
Internal Examiner Course Coordinator

________________________ _________________
External Examiner Principal
Date of submission:____________
 DECLARATION

I, the undersigned Miss. Rajeshwari. Madaswami. Konar here by, declare that
the work embodied in this project work titled “Perception of senior citizens
towards online banking” forms my own contribution to the research work
carried out under the guidance of
Mrs.Shailashri Uchil is a result of my own research work and has not been
previously submitted to any other University for any other Degree/ Diploma to
this or any other University.
Wherever reference has been made to previous works of others, it has been
clearly indicated as such and included in the bibliography.
I, here by further declare that all information of this document has been
obtained and presented in accordance with academic rules and ethical conduct.
______________________
Ms. Rajeshwari Madaswami Konar
Roll No. 21

Certified by,
________________
Mrs.Shailashri Uchil
(Project Guide)
 ACKNOWLEDGMENT

It gives me immense pleasure in presenting the report that gives the details of
my project “Perception of Senior citizens towards online banking.”.
Firstly, I would like to express my deep sense of gratitude to our Principal,
Dr Nina Roy Choudhury for her constant moral support. My heartily thanks to
Mrs Shailashri Uchil the coordinator of B.com (Banking and Insurance), who
has right from the beginning encouraged me to do the project well.
I want to thank Mrs Shailashri Uchil for her immeasurable supervision during
the authoring of this project. I am also grateful to her for her patience and
support throughout the process. This project could not have been possible
without the help of the entire library department of our college. They made as
much data, books, magazines etc. available as they can to facilitate the easy
collection of data.
On a personal note, I wish to thank my parents and friends for their constant
support in helping me complete my mission.
 INDEX

Sr .no Title of the chapter

1 Introduction

2 Research Methodology

3 Literature Review

4 Data Analysis and Interpretation

5 Findings

6 Conclusion

7 Suggestion

Bibilography

Appendices
 CHAPTER 1.INTRODUCTION

Techonolgy is rapidly spreading globally. Its diffusion is aneven ,and its acceptance is
irregular. At the present time, the senior citizens lives surrounded by technology, internet
and mobile-based, most of which is, not adapted to their needs. By 2020, it is anticipated that
there will be more than a billion older adults, making it essential that websites be designed
for easy use by the elderly.

The banking industry is also following the trend, while possibility for personal
services decreases. A study made in the beginning of the year 2014 by Federation of Finnish
Financial Services shows that also seniors are starting to use online bank, but there are still
customers who rely on the banks' physical services (FFI, 2014) Online bank benefits banks
and customers in many ways. Banks benefit from online banking because it saves costs since
they do not require offices or employees .Online banks are available to customers regardless
of time or place, which benefits the senior customers in poor condition since they do not
have to leave home to manage their banking affairs . Self-service that online banks offers
gives the customer more freedom when decisions are not tied to certain place or time.
Because of the benefits of online services, banks have recently invested more on online
services and decreased bank branches where customers can physically manage their banking
affairs .This means that customers cannot withdraw or deposit cash, or pay bills in the bank.

The senior customers, who do not have bankcards or online banks, are the ones who
suffer most for restricting online banking serviceThis generates unwanted rush hours to the
banks where online banking services are offered and arouses discontent among customers
using these services. The situationcreates a problem where seniors who do not have access to
online services can get socially excluded from an information society

The current trend in the banking industry is that services are offered online more than
physically in the bank branches. Opportunities for face-to-face service are decreasing as the
banks are closing their branches and restricting cash services. Seniors are also actively using
online services and the online bank’s position as the main way to run bank errands is
strengthening. There are still customers who would rather use the banks physical services,
because of their habits or other reasons, such as inability to use the equipment required for
online services.The aim of this study is to investigate the current state of the senior customers
who are using the online banking services.

Seniors in the future will be more familiar with technology than the seniors of today.
This results in decreased need for bank’s services and increases in the use of online bank.
Some seniors will still rely on the face-to-face service of banks, and support from relatives
and authorities is needed when the demand for online banking services is too low for banks
to keep them open.

Online banking is an exchange that employs laptops or other mobile devices, such as
smart phones and tablets. Through online banking, the user can transfer and receive money,
pay bills, initiate fixed deposits and perform transactions and other tasks. We have been paid
to the concerns of senior citizens and their ability to access online banking system Online
banking resources, does not guarantee that senior citizens will be successful at accessing the
system or understanding how to complete their tasks. Banking institutions have been creating
websites for many years now, although these cannot be said to be user-friendly for senior
citizens.

Senior citizens encounter various barriers that arise when they interact with computer
technology and particularly when they attempt online banking. The senior citizens who do
not have bank cards or online banking are the ones who suffer most for restricting cash
services.The very nature of service marketing requires that the service organization should
devote more attention on offering efficient services to thesenior citizens. As the services are
invisible, they can gain confidence and good will through efficient and prompt customer
services only.

Among the service organizations banks play an important role in marketing various
types of needs of the customers. Banks basically work on the goodwill of the customers. The
best way of servicing and prospering in the competitive environment is through providing
prompt, relevant and efficient customer service at reasonable cost. Senior have built their life
experience based on face-to-face interaction, written ink on paper signature endorsed mode of
communicating and handshake commitments hence they misunderstand the digital shift of
passwords, pin codes and online transaction. The use of cyber facilitated banking channel in
their routine financial operation is a relatively novel aspects for seniors .

In this age most of the houses have the computers and internet connections but the
seniors of those houses have no interest to use this medium. They think they are too much
older and tend to end their life, what will happen by learning these new things. They never
think this medium is accessible from inside the home; computers and the Internet have
enormous potential to benefit the lives of older people. Services such as e-mail, banking,
discussion lists, general interest websites and creative computer applications can facilitate in
the learning and socialising of this age group and can help older adults to preserve their
independence.

Online banking system seems to be more common with the younger generation
compared to the older. there is a well-marked generational and cultural gap firmly defended
by the majority of the older who accomplished their achievement without the help of the
online services. Senior are in particular risk to being cheated I the consumer market because
many of the cheaters are especially focusing on senior citizens. In addition to faceless
cheaters operating online senior representative can be s a risk factor. Representatives can be
senior relatives or caregivers who handle the senior finance and wellbeing. The security of
online banking weakens if senior has to give information about his online bank account to
another person.

1.1,DEFINITION OF SENIOR CITIZEN.

According to the law, a senior citizen is an individual resident between the age group
of 60 to 80 years, as on the last day of the previous financial year and also When a woman
and a man reach 58 years and 60 years respectively then they considered as a senior citizen in
India and they get the concession of 50% and 40% respectively in railway basic fare
The Union government wants its Ministries and departments and private agencies to
adopt 60 as the age at the which a person is classified a senior citizen. The Act defines senior
citizens as any person who is a citizen of India and has attained the age of “60 years and
above”.
Nielsen defines “seniors” as users aged 65 years or older, without giving an upper
limit. He notes that users aged 65 and older are 43% slower at using websites than users aged
21–55. He points out that the success rate for completing online tasks is typically a third less
for those over 65 years of age than for those under 55 years oldn. For him, “Seniors” are
simply users aged 65 years or older. Nielsen also reports that “Between the ages of 25 and 60,
the time Seniors’ experiences with online banking need to complete website tasks increases
by 0.8% per year”

1.2. BENEFIT TO SENIOR CITIZENS TOWARDS ONLINE BANKING

For senior citizens and individuals with disabilities, it often becomes difficult to visit
banks or ATMs for their banking requirements. Time and again it has been reported that bank
employees do not encourage such people and turn them away instead of helping them avail
services.
Hence, the Reserve Bank of India (RBI) advised banks to provide separate basic banking
facilities especially for senior citizens and individuals with disabilities. Such as delivery of
cash against withdrawal from the account, pick up of cash and instruments against receipt,
delivery of demand drafts, submission of KYC documents and life certificates at the
residence of such customers
According to the RBI notification, separately for senior citizens and differently-abled people,
banks should provide a dedicated counter which provides priority to people who are
differently-abled or infirm persons (having medically certified chronic illness or disability,
including visually impaired people) and senior citizen.
And senior citizens get high rate of intereset compared to other account holders. Due to
online banking senior citizens can access to their account for anytime and anywhere.
It is commonly believed thar online banking would make a great help for senior in
poor condition so they do not have to leave home to run to complete their works in bank.one
of the beneficial features of online services that it saves time

1.3.CHALLENGES TO SENIOR CITIZENS TOWARDS ONLINE BANKING

There are countless senior citizens is not comfortable about accessing their account
from a laptop or a mobile. The hurdle is not just lack of familiarity with computers.
Many senior citizens have failing eyesight and have to seek external help to manage an online
account. Identity theft, technology hiccups and misuse of information only compound their
apprehensions.
Inadequate knowledge, lack of infrastructure ,unsuitable location ,misuse of ATM
cards, difficulty to open an account these are the main challenges faced by senior citizens
while using the online banking. Security and safety are major reason for senior citizens do
not use online banking services.
There is a threat that the senior citizens can misuse the online banking services.
Senior are in particular risk to being cheated consumer market because many of the cheaters
are especially focusing on senior citizens. Senior are not in the same position with younger
people when it comes to using online banking. This might leads to thir exclusion from online
banking culture. Especially senior who do not have relatives to help them with technology
need support and guidances.
Online banking is transaction is one of the challenge of some elders because of to
understand the knowledge of digitalization they have inadequate knowledge , network issues
of online banking transactions at that time elders need external help to manage their accounts
but bank employees are not ready to help or answer their questions because of their busy
schedule.
In the age of new media people can do their work( like banking , electric
bill,shopping, ticket booking etc ) by the help of internet but the senior are depends on other.
For instance a senior person giving the electric bill by standing on line and this staff of
electric office giving that person’s electric bill using the websites, mean to say the seniors can
also pay the bill from their home, for that need an online bank account and the website name.
They have the chance to use digital devices that mean in their house minimum one
person is connected with the new media. They are quiet educated, want to mean as they are
seniors so more experienced in other works also but they have no interest in new media
sector. Senior have the need of this medium because due to their age they are alone in the
sense children of them are busy with their own work and have no time to give their old
parents.

1.4.ACCESSIBILTY AND TECHNOLOGY AMONG SENIOR CITIZENS.

The first area of concern is older people accessibility to ICT systems. With the
informational  and cultural gap between older people who are amateurs with matters
technology and the  younger generation, it is undeniable that this cohort is technologically
disadvantaged by physical and cognitive challenges of aging. Therefore, older people are
hampered by accessibility issues This highlights the ease or difficulties of  accessibility as an
important factor in acceptance or rejection of new technology. 
The literature draws inferences towards the use of online banking technology on
portable devices such as smartphones, whose screen size limits older people from accessing.
Inability  to read, interpret and understand different media expressed via ICTs in different
settings like vocal communication, narration or font size
The literature establishes three accessibility issues pertaining use of banking
applications on  smartphones. Older people tend to use their phones in a more limited fashion
compared to younger users because they find the procedures difficult to master, the displays
hard to read  and at times the buttons are difficult to press accurately. Accessibility  issue has
prompted some research work into specific gadgets for older individuals such as the 'Raku-
Raku' device from NTT DoCoMo, which was a cell phone with a disentangled interface  and
fundamentally bigger buttons Nonetheless, gadgets like these can amplify  the digital divide
instead of bridging it due to their purposely unique and more restricted  usefulness This
points out that while there are different software developments that help enormously with
accessibility issues, those improvements have not been reliably deployed in the targeted
markets, and numerous new ideas presently are yet to be acknowledged and depended upon. 
In some cases, older people worry that they may lack adequate skills and capabilities
on matters ICT, to enable them perform a task.  There is a need for more training that focuses
on usability, as new innovations demand greater  ICT understanding Availability and access
to skills development, through  education and training is an influential factor in assessing
perceived ease of use The literature infers that good training benefits older people in that their
self-efficacy is boosted and computer anxieties lowered. Enhanced self-esteem and  the
feeling of ICT competence has been attributed to frequent use of computers
This points to the need for an emphasis to upskill older people so as to facilitate 
perceived acceptance and use of technology. The usability of new technology and the training
method, are major differentiators between acceptance of technologies by an older person and
a younger counterpart Often older individuals will not readily anticipate using the
technologies compared to other users
1.5.RISK INVOLVED FOR SENIOR CITIZENS TOWARDS ONLINE BANKING:

Some risks that are involved when seniors with no earlier experience with computer
or Internet are forced to use online bank. One of the major risks is that someone else is using
the senior's online bank. Many of the seniors might not know how to use online bank or
understand its meaning. It is quite common that a senior has an online bank but in reality,
children or grandchildren use it, which is a huge risk. Then it is not known who has actually
used the bank account. Online service identifiers are used as identification for the bank and
authorities and therefore it is crucial that they are absolutely personal. When surfing online
does not come naturally to the customer, it can create a security risk.

Senior citizens are reluctant to switch from physical banking to the self-services
online banking, claiming mistrust in the bank online platform and their online understanding
and the criminal target the older due to their understanding. Senior not be able to make
critical decision when using technology since they find it difficult to ascertain the system to
trust and which not to trust.

Seniors might not realize when they have entered a fake website, because they do not
necessarily have the experience or knowledge. Seniors might inadvertently give information
about their online service identifiers or bankcards to other people; even though it would be
self-evident to others that this kind of information cannot be given. Some might consider that
the youth is more cautious because they are naturally interested in the field and therefore
have the knowledge. Senior is no longer able to use the service. whether seniors will realize
their inability to handle their finances and who will react when assistance is needed. If the
senior deals with an employee at the bank, the employee can react if the senior does not
understand what he is doing or if there are questionable persons in company. It can be seen as
a bank's moral responsibility to react. sometimes online bank is not the right service for the
customer, but it is better to face a real person.

1.6. SECURITY ISSUES

Senior especially the novice computer user is vulnerable to informational and

financial risk from usage of system they are less familiar with more and more suffering from
cyber crimes such as identify theft, reputational damage, phishing, credit card fraud, ransom-
ware and social engineering. Their use of ICT is now extending to many interactions that put
them at a higher risk of experiencing cybercrimes. Consequently, older people might not be
able to make critical decision when using technologies since they find it difficult to ascertain
the system to trust and which not to trust.

Older people are reluctant to switch from physical banking to the self-service online
banking, claiming mistrust in the security of the bank’s online platform and their ICT and
Internet understanding This points out that criminals target the older cohort due to their
security vulnerabilities. Phishing is the most discussed form of exploitation of the old.
Information security literature that mainly focuses on old people describe reservations and
unwillingness on their part to expose private data to systems that they perceive as not
trustworthy, or insufficiently secured to stop or counteract illegitimate activities. The
literature indicates that the older adults are the major targets of online financial deception and
other forms of scam as they are more vulnerable.

Through Social engineering and phishing, scammers often steal finances and change
computer access information in order to lock the real user out of their very own system. This
indicates that there is a global widespread of phishing attacks and older people are more
targeted. Moreover, criminals reduce their risk in focusing on the older cohort, as many of
them are too embarrassed to report these extortion incidents. Furthermore, older people are
more vulnerable to phishing since it can be rather difficult for them to differentiate between
genuine and fake websites. They often mistakenly engage fake sites since the website identify
with genuine brand logos, images among other elements that influence them into believing
that they are on the genuine website

Elder people who have a habit of sharing chain messages put themselves at a greater
risk resulting to subsequent loss of data, finances, and PC corruption. Advance Fee Scams is
also another scheme that lure the older people by tricking them into believing that they have
some pending beneficial incentives awaiting their confirmation.

The reveals the lack of ability of older individuals to sense the dangers in such
exchanges and chances of deception and fraud. Moreover, while online financial fraud can
befall anyone using online services, there is enough proof showing older persons being at
substantially high risk compared to other age sets. This highlights hesitation or resistance to
using banking applications by the old is mainly based on difficulties of installing and
comprehending the required protective measures

1.7.MANAGING RESISTANCE TO CHANGE.

Customers' resistance for change can be seen as a challenge in online banking.

Organizational theories about change management and resistance for change can be reflected
to customers’ behaviour as well. People resist change because of three reasons: uncertainty,
concern over personal loss and because of belief that the change is not in their best interest.
 According to Association for Consumer Research, if the consumer perceives a high
degree of change, he resists it. The product should be modified to meet the consumer’s needs
to reduce resistance. This would mean customized online services for senior customers.

Murthy (2007) presents five different ways to manage resistance to change education
and communication, participation, facilitation and support, negotiation, manipulation and
coaptation’s customer might not understand the logic behind the change and the banks should
help them to see the logic. Providing the customers more information about the online bank
might help them to see its usefulness. At the moment, many of the customers using online
services are unaware of the details of online bank and they are uncertain to try something new
to them.

It can be difficult to participate the customers in planning of the online bank or to the
changes concerning it. But seniors can participate events where they can have more
information before taking an action. Many banks organize events where online services are
brought familiar to customers. The Central Union for the Welfare of the Aged promotes an
annual event called Senior Surf. During the day companies can offer their help to seniors for
example in libraries and guide them in the use of computers, internet and online services and
much more.

Resistance can be reduced with supportive efforts like counselling and training. Banks
are currently offering personal online bank guidance, where the customer can ask about
troubling matters and receive online bank training. As a quite extreme method, if the banks
are desperate to have their customers using online services, the banks can try negotiation. To
reduce resistance, banks can offer something of value to the customer. In practice this could
mean negotiating the fees of online bank if that is the concern of a particular customer and
brings value.

Manipulation and co-optation were also mentioned in the ways to manage resistance, but they
are hardly recommendable. Co-optation seeks to “buy off” the resisters by giving them a key
role in the change decision (Murthy, 2007). Using this method, the banks could distort the
facts about online services to make it appear more attractive. Changes are inevitable and new
things will cause some resistance. Unwillingness to depart from habitual behaviour generates
resistance to change. Resisters should be motivated to accept the change by demonstrating the
benefits of the change and educating the resisters.

1.8.DEFINITION OF ONLINE BANKING

According to, Lilesh Gautam; online banking is a service that allows customers to access
and perform financial transactions on their bank. accounts from their web enabled computers
with Internet connection to banks' web sites any time they wish.
 A system of banking in which customer can view their account details, pay bill and transfer
money by means of the internet. The remote delivery of new and traditional banking product
and services through electronic delivery channel.

1.9.WHY ONLINE BANKING IS NEEDED?

One has to approach the branch in person, to withdraw cash or deposit a cheque or
request statement of accounts. In true online banking, any inquiry or transaction is processed
online without any reference to the branch (anywhere banking) at any time. Providing online
banking is increasingly becoming a "need to have" than a "nice to have" service. The online.
Banking, thus, now is more of a norm rather than an exception in many developed countries
due to the fact that it is the cheapest way of providing banking services
Banks have traditionally been in the forefront of harnessing technology to improve
their products, services and efficiency. They have, over a long time, been using electronic and
telecommunication networks for delivering a wide range of value-added products and
services. The delivery channels include direct dial – up connections, private networks, public
networks etc and the devices include telephone, Personal Computers including the Automated
Teller Machines, etc. With the popularity of PCs, easy access to Internet and World Wide
Web (WWW), Internet is increasingly used by banks as a channel for receiving instructions
and delivering their products and services to their customers. This form of banking is
generally referred to as online Banking, although the range of products and services offered
by different banks vary widely both in their content and sophistication.
India’s banking sector is growing at a fast pace. India has become one of the most
preferred banking destinations in the world. The reasons are numerous: the economy is
growing at a rate of 8%, Bank credit is growing at 30% per annum and there is an ever-
expanding middle class of between 250 and 300 million people in need of financial services
From the perspective of banking products and services being offered through online,
online banking is nothing more than traditional banking services delivered through an
electronic communication backbone, viz, online. But, in the process it has thrown open issues
which have ramifications beyond what a new delivery channel would normally envisage and,
hence, has compelled regulators world over to take note of this emerging channel. Some of
the distinctive features of online-banking are:
1. It removes the traditional geographical barriers as it could reach out to customers of
different countries / legal jurisdiction. This has raised the question of jurisdiction of law /
supervisory system to which such transactions should be subjected,
2. It has added a new dimension to different kinds of risks traditionally associated with
banking, heightening some of them and throwing new risk control challenges,
3. Security of banking transactions, validity of electronic contract, customers’ privacy, etc.,
which have all along been concerns of both bankers and supervisors have assumed different
dimensions given that Internet is a public domain, not subject to control by any single
authority or group of users,
4. It poses a strategic risk of loss of business to those banks who do not respond in time, to
this new technology, being the efficient and cost-effective delivery mechanism of banking
services,
5. A new form of competition has emerged both from the existing players and new players of
the market who are not strictly banks.

1.10.INTRODUCTION OF ONLINE BANKING.

Banking is a highly information intensive activity that relies heavily on information

technology (IT) to acquire, process, and deliver the information to all relevant customers.
Banks used the Internet technology as a strategic weapon to revolutionize the way they
operate, deliver, and compete against each other. As a result, Online Banking was introduced
as a channel where bank customers could perform their financial transactions electronically
via their banks’ Web sites. A customer needs a device an internet connection and a bank card
to register once registered the customer set up a password to being using the services.
Virtually every banking institution has some form of online banking, available both
on desktop versions and through mobile apps. Some banks operate exclusively online, with
no physical branch. These banks handle customer service by phone, email, or online chat.
Online banking is frequently performed on mobile devices now that Wi-Fi and 4G networks
are widely available. It can also be done on a desktop computer. An Online Banking user is
expected to perform at least one of the following transactions online:
1. Checking account balance and transaction history
2. Paying bills
3. Transferring funds between accounts
4. Requesting credit card advances
5. Ordering checks
6. Managing investments and stocks trading
From a bank’s perspective, using the Internet is more efficient than using other
distribution mediums because banks are looking for an increased customer base. Using
multiple distribution channels increases effective market coverage by enabling different
products to be targeted at different demographic segments. Also, Banks cannot risk losing
customers to competitors within the aggressive competition in the banking industry around
the world. Moreover, Internet delivery offers customized service to suit the needs and the
likes of each user. Mass customization happens effectively through Online Banking. It
reduces cost and replaces time spent on routine errands with spending time on business
errands. Online Banking means less staff members, smaller infrastructure demands,
compared with other banking channels. From the customers’ perspective, Online Banking
provides a convenient and effective way to manage finances that is easily accessible 24 hours
a day, seven days a week. In addition, information is up to date. Nevertheless, Online
Banking has disadvantages for banks like how to work the technology, set-up cost, legal
issues, and lack of personal contact with customers. And for customers there are security and
privacy issues.
Online banking is a result of the adoption of technological innovations in the banking
industry. The digital age has led to fierce competition in the banking sector. Banks must stay
relevant in the market in order to gain market share and retain customers. There is a massive
shift in the preferences of a consumer. From traditional methods, they are now adopting
digital and multi-channel models simply because it allows them to carry out activities
conveniently and faster. At the same time, it gives customers more control than they had
before. Online banking is a service with great potential that has the potential to enhance bank
performance. Today, online banking has become an essential service to provide. Many
studies show the young, educated, and salaried as the active users of e-banking services. The
older adults and people residing in suburban and rural areas are yet to catch up with the trend.
Meanwhile, online banking has greatly improved customer satisfaction, shown a slump in
visits at the bank branches, reduced waiting time for customers, reduced fees for transactional
processes, and enhanced bank efficiency.
There are no monthly fees to be paid when it comes to using online services provided
by your bank. So much can be done without spending a penny. Truth be told, it has enabled
banks to save operational costs and provide services at a much cheaper price. Banking has
become a lot more convenient nowadays because it is available to us 24/7. Unlike before,
when banks were open just 9-5, money withdrawal and transfers were a hassle. Now, it can
be done anytime and anywhere.
One of the greatest advantages of online banking is like payment Writing cheques, fill
out forms to pay bills, stand in line in office hours, all of this is passe. Instead, a few clicks
can help you achieve so much in a few seconds. The best part is that you can automate bill
payment and never have to worry about forgetting to pay the bill. Online services allow banks
to save money, and this enables them to pass the benefit to their customers. This means that
there are a number of banking activities that can be carried out without any fee such as
checking balance, account summary, downloading account statement. In addition, banks are
offering higher interest rates to customers.
As for online-only banks, they have attractive interest rates that cannot be acquired
by traditional bank setups. The biggest disadvantage of online banking is security. This does
not mean that online banking is not safe. It is deemed safer than traditional banking methods.
It eliminates the risk of getting robbed and theft. However, it is suggested to implement some
precaution when using banking websites on public computers. It is best to erase all cookies
after use. Also, create a difficult and lengthy password that is hard to guess and copied.
Finally, never give away your personal and banking information to just anyone and never
respond to emails and texts that demand sensitive account information.

1.11. HISTORY OF ONLINE BANKING.

The banking system in India has come a long way during the last two centuries. Its
growth was faster and the coverage was wider since 1969.
Online banking started in the United Kingdom with the launch of Nottingham
Building Society (NBS) HomeLink service in September 1982, initially on a restricted basis,
before it was expanded nationally in 1983. HomeLink was delivered through a partnership
with the Bank of Scotland and British Telecom's Prestel service. The system used Prestel
view link system and a computer, such as the BBC micro, or keyboard (Tan data Td1400)
connected to the telephone system and television set. The system allowed users to "transfer
money between accounts, pay bills and arrange loans compare prices and order goods from a
few major retailers, check local restaurant menus or real estate listings, arrange vacations
enter bids in HomeLink’s regular auctions and send electronic mail to other HomeLink users
." In order to make bank transfers and bill payments, a written instruction giving details of the
intended recipient had to be sent to the NBS who set the details up on the HomeLink system.
Typical recipients were gas, electricity and telephone companies and accounts with other
banks. Details of payments to be made were input into the NBS system by the account holder
via Prestel. A cheque was then sent by NBS to the payee and an advice-giving detail of the
payment was sent to the account holder. BACS was later used to transfer the payment
directly.
The early version of what was considered online banking began in 1981. New York
City was the first place in the U.S. to test out the innovative way of doing business by
providing remote services as four of its major banks Citibank chase Manhattan, Chemical
Bank and Manufacturers Hanover made home-banking access available to their customers.
The Bank of Scotland offered customers the first UK online banking service called
HomeLink. People had to connect to the internet through their TVs and telephones to pay
bills and transfer money. What is now known as online banking was formed during this time. 
 In October 1994, Stanford Federal Credit Union became the first financial institution
in the U.S. to offer online banking to all of its customers. A year later, Presidential Bank
became the first bank in the country to offer customers access to their accounts online. 
Rapid growth of online banking from telephone line connection replaced by internet
connection. Standard Federal credit union is first financial institution to offer online banking.
A year later, Presidential Bank became the first bank in the country to offer customers access
to their accounts online. The advantages of online banking systems began to catch on as
many other banks soon followed Presidential Bank’s lead. The evolution of online banking
continued with one of the first truly successful internet-only banks, NetBank which was
founded in 1996 and closed in 2007.

It further developed with the birth of online real time system and vast improvement
in telecommunications during late1970’s and 1980’s.it resulted in a revolution in the field of
banking with "convenience banking" as a buzzword. Through Convenience banking, the
bank is carried to the doorstep of the customer. Online banking arrived in India in the late
1990’s. ICICI was the first bank to champion its usage and introduced online banking to its
customers in 1996. With lower internet costs and increased awareness
about electronic media, online banking established itself only in 1999.

In 2001, Bank of America made history as the first financial institution to gain more
than 3 million online banking customers, about 20 percent of its customer base at the time.
More people were starting to realize the advantages of online banking.

As the evolution of online banking continued, it slowly gained popularity in e-

commerce. When big-name banks began to offer online products and services, e-banking
seemed to gain legitimacy for consumers. By 2006, online banking had become mainstream:
An overwhelming 80 percent of banks in the U.S. we’re offering online banking service

In a 2010 survey on consumer billing and payment trends, Fiserv, a financial

services technology company, found that online and mobile banking were growing at a faster
pace than the internet. Online banking has continued to evolve as more innovations and
conveniences have been offered.

The trend has been the creation of service delivery channels through which consumers
can interact with the banks. Therefore, modern banks provide their consumers with increased
channel choice, reach out consumers through many routes. As such, ATMs, telephone,
internet and wireless channels are now available to the consumers to perform their banking
transactions in addition to the traditional branch banking. Due to online banking services
bank have recently invested more on online services and decreased bank branches where
customer can physically manage their bank affairs.

Banks play a very important role in the economic development of every nation. They
have control over a large part of the supply of money in circulation. Economic development
is a dynamic and continuous process. Banks are the main stimulus of the economic progress
of a country. The economic development highly depends upon the extent of mobilizations of
resources, and investment and on the operational efficiency of the various segments of the
economy.

Banks have been consciously used as an engine of development. They help in

increasing the nation’s savings channelizing it into productive avenues and economic
utilization of these resources. A well planned, organized and viable banking system is a
necessary concomitant of economic and social infrastructure in any economy. The banking
system provides a large portion of the medium of exchange of a given country, and is the
primary instrument through which monetary policy is conducted, through their deposit
mobilization and lending operations.

Commercial banks are the institutions specifically designed to further the capital
formation process through the attraction of deposits and extension of credit they act as a
financial lifeline of enterprise by providing the financial resources necessary for productions
of goods and services demanded by the market. They make the productive utilization of ideal
funds, thus assist the society to produce wealth.

1.12.ROLE OF ONLINE BANKING SERVICES IN BANKS AND FINANCIAL

INSTITUTION.

Technological innovations have transformed all aspects of life. It has changed the way
we travel, communicate, entertain, cook, and shop. Similarly, technology has impacted the
way we handle money. Banking is one of the primary sectors of the economy affected by
ever-evolving technology. The latest technological trends have given rise to modern
techniques of banking such as online banking, online banking, AI personal assistants, e-
wallets, online bill payment, and many more.

Gone are the days when visiting your bank branch was a necessity. Long queues were
a common sight at the bank branches. Paying bills, money deposit, opening accounts, closing
accounts, loan approvals, and money withdrawal were tedious tasks.

However, there is a massive shift in the plan that continues to transform the traditional
banking landscape. The change can be largely attributed to technologies like artificial
intelligence, machine learning, core banking solutions driven by IT platforms, and wearables.

Now, would you open an account in a bank that does not provide online banking
services? For most of us, the answer is no. Online banking is one of the many innovations of
technologies in the banking sector. What online banking can do for customers is incredibly
amazing. Online banking has revolutionized the banking sector and businesses around the
world. You can manage your finances, shop, pay bills, save, and get a loan from the comfort
of your sofa. Let’s learn more about this incredibly impressive banking technology.
1.13.TYPES OF ONLINE BANKING.

Online banking offers you a quick and convenient way to manage your money. In
fact, Online banking offer you a quick and convenient way to manage your money. In fact,
through it varies from bank to bank, there are generally few types of transactions or other
management actions that cannot be done online with an established account. Because this
type of process deals directly with people’s money, security measures must be robust, and
most banks have layers of security at work. Overall, online services are a type of online
banking or that opens access to an efficient way to manage your money.

1) Account Management:

Online banking systems allow you to log in through their website and view your
account information. There may be several passwords or log-in codes you have to input to
gain access to your account. You can check your current balance and balance history, initiate
transfers between account, and view account activity. You can also order check and view
check image with this type of banking service.

2) Deposits and Payments:

Direct deposit is a type of banking that allows you to provide a routing number so
money can be transferred into your account automatically. For example, employers often use
direct deposit to automatically deposit pay checks. This is an electronic deposit done online.
It is also possible to set up automatic payments so that you can pay bills and have the amount
withdrawn electronically from your account. This type of banking an easy way to pay
recurring bills like utility payments and insurance premiums.

3) Debit Card:

Debit cards work like credit cards except that they automatically withdraw money
from your bank account, and are one of the most common types of line banking transactions.
When you use a debit card, information about the purchase is put into a computer system and
then transmitted online to your, where the transaction is processed within your account.

4) E-statement:

E-statements, or electronic statements, are your regular bank statement made available
online. According to GSA Federal Credit Union, e-statement are guarded by electronic
safeguards, and are actually less likely to obtained by identity thieves than a paper statement
sent through the mail. Many banks and credit union recommend this type of online banking
for security reasons.

1.14.FEATURES OF ONLINE BANKING

Online banking facilities typically have many features and capabilities in common,
but also have some that are application specific. The common features fall broadly into
several categories:

1.A bank customer can perform non-transactional tasks through online banking, including:

 Viewing account balances

 Viewing recent transactions

 Downloading bank statements, for example in PDF format

 Viewing images of paid cheques

 Ordering cheque books

 Download periodic account statements

 Downloading applications for M-banking, E-banking etc.

2. Bank customers can transact banking tasks through online banking, including:

 Funds transfers between the customer's linked accounts

 Paying third parties, including bill payments (see, e.g., BILLPAY) and third-party
fund transfers (see, e.g., FAST)

 Investment purchase or sale

 Loan applications and transactions, such as repayments of enrolments

  Credit card applications

 Register utility billers and make bill payments

3. Financial institution administration

4. Management of multiple users having varying levels of authority

5. Transaction approval process

Some financial institutions offer special online banking services, for example:
Personal financial management support, such as importing data into personal accounting
software. Some online banking platforms support account aggregation to allow the customers
to monitor all of their accounts in one place whether they are with their main bank or with
other institutions.

1.15.ADVANTAGES OF ONLINE BANKING.

Some advantages of online banking go hand-in-hand with simply being online others
are competitive advantages provided by online banks taking advantage of their cost structure.
The most prominent benefits provided by online banking include:

 Pay bills online:

This might be one of the top advantages of online banking because you don’t have to
take time out of your day to go to the bank. You can simply log into your account and
pay your bill online right away

 Conveniences: In
This busy schedule it, I s difficult for an individual to make a visit bank for checking
their account balance, interest rates, successful transfer of money, and any other
update. Banking system for customer convenience where an individual can access
their banking system anytime and anyplace. There are many scenarios when there is
banking holiday due to which you can’t be transferred. Online banking system has
provided an ease by providing 24 hours and 365-day services. It resolves issues faced
by the customers during traditional banking system. an individual doesn’t need to
stand in queue for any money deposit and transfer.

 Monitoring services:
 The customer can access their updated passbook any time for monitor their
transaction to manage their financial plans.

 No Geographical Boundaries:
A customer can make payments from anywhere in the world to anyone they wish
to without the restriction of time or place. Earlier one needed to travel to the bank,
stand in long queues and waiting for their number to be announced. Now there’s
no such boundary

 Non-financial Transaction:
Online banking allows the users to avail non-financial services such as checking
the bank balance, generating account statements, applying for a new check book,
changing the address, mobile number or email, etc.

 Save time:
Standing in long queues is time-consuming, especially for availing of basic
services like funds transfer or making utility payments. Hence, online banking
eliminates the need for customers to visit banks and offer them online banking,
and that too from the comfort of their homes or offices.

 Effectiveness:
Many online banking sites now offer sophisticated tools including account
aggregation, stock quotes, rate alerts and portfolio managing programs to help you
manage of your assets more effectively.

 Activity Tracking: 
When you make a transaction at the bank branch, you will receive an
acknowledgement receipt. There are possibilities of you losing it. In contrast, all
the transactions you perform on a bank’s online banking portal will be recorded.
You can show this as proof of the transaction if need be. Details such as the
payee’s name, bank account number, the amount paid, the date and time of
payment, and remarks if any will be recorded as well.

1.16.DISADAVNTAGES OF ONLINE BANKING

1. No Relationship with Personal Banker

Over time, you can develop a relationship with a personal banker if you visit a
traditional bricks-and-mortar location. If you’re dealing with an online bank, on
the other hand, you’re typically handed off to an anonymous customer service
agent who is unlikely to know you from the next customer. If you’re really in a
 bind, financially speaking, having a relationship with someone who can help and
who knows you well can be a major advantage over a strictly online banking

2. Technology Issue
In many ways, an online bank is only as good as your or their internet
connection. If there’s a power outage, or if servers go down, you might not have
any access to your account whatsoever. While some banks offer a phone number
for customer service, it might be overwhelmed if online access is down.

3. Securingpassword
 Every online banking account requires the password to be entered in order to
access the services. Therefore, the password plays a key role in maintaining
integrity. If the password is revealed to others, they may utilise the information to
devise some fraud. Also, the chosen password must comply with the rules stated
by the banks. Individuals must change the password frequently to avoid password
theft which can be a hassle to remember by the account holder himself

4. Difficult for beginner

There are people in India who have been living lives far away from the web of the
internet. It might seem a whole new deal for them to understand how online
banking works. Worse still, if there is nobody who can explain them on how
online banking works and the process flow of how to go about it. It will be very
difficult for inexperienced beginners to figure it out for themselves

5. InternetRequirement:
An uninterrupted internet connection is a foremost requirement to use online
banking services. If you do not have access to the internet, you cannot make use
of any facilities offered online. Similarly, if the bank servers are down due to any
technical issues on their part, you cannot access net banking services

6. Inefficient at Complex Transactions

Online banks might be able to transfer money between accounts or pay bills, but
you might be more comfortable with an international, bricks-and-mortar bank if
you have complex transactions. Worldwide, business-oriented banks like Chase
have global transaction capabilities, such as the ability to send payments to more
than 35 different currencies worldwide, that online banks might not be able to
muster

7. Security fraud.
 Many people reluctant in using online banking because of the security threat.
They cannot help but worry about this aspect what with news on fraudulent bank
transactions that pop up every now and then. However, this should not be a
problem as banks that deliver online banking services rank security above
anything else. Since they value their customers, they always use the most
innovative security technology in protecting their websites. In addition, the
Federal Deposit Insurance Corporation (FDIC) is also standing behind them.

1.17.MAJOR CHALLENGES FACED BY ONLINE BANKING

 Traditional banking habits: 

Most of the senior citizens participate in online banking, on the other hand, there are
still some people who don’t use online banking. A majority of such people are well
versed in traditional banking. Such resistance to change is typically due to a lack of
trust in the online system or the incompetence to operate online portals. And this is
why banks are influencing people to adopt online banking. Banks can simply prove
the benefits of online banking and disadvantages of traditional banking to their
customers.

 Security and fraud instances: 

This is one of the most significant challenges for banks promoting online banking. In
traditional banking, robbers break into the banks to steal money, whereas in online
banking hackers can break into customers details and illegally transfer money. For
example, in 2015, around 130 million British pounds were stolen from online bank
accounts through fraud. The extension of e-commerce provides a chance for
fraudsters to misuse payment networks and steal sensitive information
.

 Cross-border transactions:
 The implementation of cross-border transaction plays a vital role in the global trade
and is one of the remarkable success factors of online banking. Historically cross-
border payments have been slow, incompetent, and expensive because most of the
banks still use traditional infrastructure including national banking infrastructure,
which results in non-uniform development and software platforms that confuse cross-
border transaction. To overcome these challenges, new technologies including
blockchain have been promising to enable smooth cross-border transactions

DIAGRAM:
1.18.BENEFIT OF ONLINE BANKING:

 It saves time spent in banks.

 It provides ways for doing international banking.
 It provides banking throughout the year 24/7 days from anywhere have
internet access.
 It provides well-organized cash management for internet improvement.
 It provides convenience in terms of capital, labour, time and all the resources
needed to type a bunch action.
 Taking advantage of integrated banking services, banks would possibly
contend in new markets can get new customers and grow their market share.
 It provides some security and privacy to customers, by pattern progressive
cryptography and security technologies.
 Reduction in cost of transaction.
 Easy to make utility payment
 Customers can apply for the issuance of a chequebook
 Facility to check bank balance any time
  Make bill payments and fund transfer to other accounts

1.19.CHALLENGES OF ONLINE BANKING.

 Security Risk:

To keep with the IAMAI Report (2006), for 43 % of web users do not appear to be
exploitation online banking in Asian country because of security issues. so, it’s an
unlimited challenge for marketers and makes shoppers glad regarding their security
concerns.

 The Trust Factor:

Trust is that the most important hurdle to online banking for several of the
purchasers, they have a perception that online act is risky due to that frauds can
happen. Whereas exploitation online banking facilities, ton of queries arise inside the
mind of users.

 Customer Awareness:

Awareness among user relating to the online banking facilities and procedures
remains at lower side in Indian scenario.

 Privacyrisk:

The possibility of unveiling personal information; worry of fraud is one all told the
foremost necessary factors that inhibit the consumers whereas selecting online
banking services.

 Availability of Personnel services:

To bank are to provide several services like social banking with cash potentialities,
selective upgradation, automation and innovative mechanization, higher client
services. Etc.

 Competition:

The nationalized banks and industrial banks have the competition from foreign and
new personal sector banks. Competition in banking sector brings various challenges
before the banks like product positioning, innovative ideas and channels, new market
trends, cross selling ad at group action and structure half this method has got to be
manage, assets and contain risk.
  Handling Technology:

Early adopters of technology acquire very important competitive advances

Managing technology is therefore, a key challenge for the Indian banking sector.

 Implementation of world technology:

In developing countries, many users either do not trust or do not access to the
desired infrastructure to be able to technique online payments

1.20.OPPORUNTIES IN ONLINE BANKING

 Untapped Rural Markets:

In all urban areas banking services entered but only few big villages have the banks
entered. So, the banks ought to reach in remaining all villages as a result of majority
of Indian still living in rural areas.

 Multiple Channels:
Banks will offer various channels to access their banking and completely different
services like ATM, native branches, Telephone/mobile banking, video banking etc. to
increase the banking business.

 Increasing web Users and laptop computer Literacy:

To use web banking it is important or initial demand that people should have data
relating to web technology thus they're going to merely adopt the net banking
services.

 Worthy shopper Service:

Worthy shopper services are the best whole ambassador for any bank for growing its
business. Every engagement with shopper could be probability to develop a shopper
faith inside the bank.

1.21.AUTHENITICATION FOR ONLINE BANKING

 Singlefactorauthentication:
An authentication mechanism that utilizes any one of the factors is called
single authentication. This is basic authentication method. (for example, a user
id and passwords come under this category)

 Two factor authentications:

An authentication mechanism that utilizes a combination of two factors i.e.
 (user knows, user possesses). This method is used by various banks for
authentication of online banking.

(For example, user using a password as the first factor (user knows) and a
onetime password (OTP) as the second factor (user possesses) to perform say,
a funds transfer transaction.)

 Multi factor authentication:

An authentication mechanism where two or more factors are used in which
one of the factors is necessarily pertaining to the ‘user is’

(For example, a large value transaction authorized in a bank by using a

combination of the person’s user id, a smart card and his biometric
A U TH EN ITICA TIO N FO R O N LIN E BA N KIN G
authentication factor.)

SINGLE FACTOR

TWO FACTOR

MULTIPLE FACTOR

1.22.TRENDS IN ONLINE BANKING

The online banking system had a dynamic structure. It has changed with time
and tide which has not only made the economy stronger but also made the life of the
customer much easier than before. We can see these changes in our day-to-day life by
using a number of new banking facilities. Online banking ha radically altered the
landscape of banking in the last few years. So, whether it is back-end operations or
customer facing channels, online banking delivered through new age technologies is
the way forward for all the customer in the financial services.

One of the most critical areas that Banks are trying to improve through online
banking is customer experience. The customer expectations for online banking
services are continually being shaped by experience provided by tech companies like
Google, Apple, Facebook, Amazon among others and they are expecting similar
experiences from their financial services providers.

Banks previously used to personalize their interaction through the branches,

but as online banking has increased, they have had to identify other means to maintain
that personal touch. Online banking has meant banks now possess a large amount of
data for each of their customers, and with the use of predictive analytics, artificial
intelligence and machine learning they will increasingly personalize their offering for
the customers. Banks will shift their focus from simply selling products and services
to providing relevant and contextual financial advice. This will lead to hyper-
personalization as banks start treating each customer as a segment of one

Online banking is not a new thing anymore. The financial industry has once
again changed because of the development of technologies and new standards of
customer service. Modern people want flexibility so they are looking for a chance to
manage their finances and to make transactions with no need to visit a bank. Many
traditional banks have already introduced their mobile applications or online banking
services. At the same time, fully digital financial services appear here and there,
making digital banking mainstream.

It is a recent trend in the Indian financial system and cannot be ignored. With
the entire banking and financial services industry jumping to digital channels, online
banking has emerged to create paperless and branchless banking systems. This is a
new breed of banking institutions that are overtaking the traditional models rapidly.
These banks provide banking facilities only through various IT platforms that can be
accessed on mobile, computers, and tablets. It provides most of the basic services in
the most simplified manner and gives access to real-time data. The growing
popularity of these banks is said to be a real threat to traditional banks.

 These banks are attractive to the customers because of their cost-effective

operating models. At the same time, though virtually, they provide high-speed
banking services at very low transaction fees. In today’s fast lane life, these banks suit
the customer needs because they alleviate the need of visiting the bank and standing
in a queue.
1.23.SECURITY OF ONLINE BANKING

Security of a customer's financial information is very important, without

which online banking could not operate. Similarly, the reputational risks to banks
themselves are important. Financial institutions have set up various security processes
to reduce the risk of unauthorized online access to a customer's records, but there is
no consistency to the various approaches adopted. The use of a secure website has
been almost universally embraced. Though single password authentication is still in
use, it by itself is not considered secure enough for online banking in some countries.
There are essentially two different security methods in use for online banking

The Personal identification number /tax deduction account number system

where the Personal identification number represents a password, used for the login
and tax deduction account number representing one-time passwords to authenticate
transactions. TANs can be distributed in different ways, the most popular one is to
send a list of TANs to the online banking user by postal letter. Another way of using
TANs is to generate them by need using a security token. These token generated
TANs depend on the time and a unique secret, stored in the security token

More advanced TAN generators (chip TAN) also include the transaction data
into the TAN generation process after displaying it on their own screen to allow the
user to discover man-in-the-middle attacks carried out by Trojans trying to secretly
manipulate the transaction data in the background of the PC.

Another way to provide TANs to an online banking user is to send the TAN of
the current bank transaction to the user’s mobile phone via SMS. The SMS text
usually quotes the transaction amount and details, the TAN is only valid for a short
period of time. Especially in Germany, Austria and the Netherlands many banks have
adopted this "SMS TAN" service. There is also "Photo TAN" service, where the bank
generates and sends a QR code image to a smartphone device of the online banking
user.
Usually online banking with PIN/TAN is done via a web browser using SSL
secured connections, so that there is no additional encryption needed Signature based
online banking where all transactions are signed and encrypted digitally. The Keys
for the signature generation and encryption can be stored on smartcards or any
memory medium, depending on the concrete implementation

1.24.FUTURE OF ONLINE BANKING.

For the longest of time, traditional banks were the kings of payments.
Throughout the debit card era and well into the online banking era, banks held a
virtual monopoly over the payment’s ecosystem. This landscape is also changing and
over the past few years, we have seen the rise of a range of new payment service
providers and online banking emerging as a major payment option for most Indians.
Technology will continue to evolve at a rapid pace and emerging concepts such as
augmented reality and distributed ledger technology will further redefine banking
services. The above technologies will combine to redefine the bank-customer
relationship, making banking more personalized across customer devices.
To know what the future of online banking looks like, it’s probably worth
looking at the present online banking isn’t new. I’ve been banking online for ten years
now, and I was hardly an early adopter. When you think of online banking, you
probably think about a computer (either a desktop or laptop), a three or four step
security process and then an interface that lets you view the balance of your various
bank accounts and credit cards, whilst permitting you to transfer money and pay bills.
But the broader definition of online banking should really be any platform that
lets you move or otherwise manage your financial affairs digitally. The popularity of
mobile banking has surpassed that of online banking, and the overall number of online
customers has slowed worldwide. According to Insider Intelligence, mobile banking
is growing at five times the rate of online banking, and half of all online customers are
also mobile banking users. Despite this growing popularity, some banks still fall short
on the demand for mobile tasks, like bill pay and reward redemption, causing them to
push users to online banking.
Customers now anticipate banks to augment digital interactions and come up with
digital alternatives for their day-to-day banking requirements as they are now more
open to trying out a new app than they were before the COVID-19 pandemic.
Banks therefore are exploring customer-engaging platforms such as social media and
messenger services to expand their businesses. For example, WhatsApp banking is a
reality now while other social media channels are used for building customer
relationships.

The concept of remote work culture has been introduced in the banking industry
recently, which will continue to remain in the post-Covid world as well. Banks are
trying to adopt more comprehensive business continuity plans to prepare for
unexpected situations like the current crisis.

Additionally, regulatory bodies and governments are bringing new frameworks and
guidelines for banks to comply with and banks will need to align their digital
transformation strategies time-to-time.

Despite all these improvements and prospects, banks are crippling with acute skills
gap and talent shortage to take up emerging roles. It highlights the significance of
upskilling and reskilling of banking professionals and freshers to build a future-ready
 workforce. It is a collective effort of all the stakeholders including the industry, banks,
employees, and educational and training institutions.
Neve
r were these growing demands more important than during the coronavirus pandemic,
which forced countries around the world to announce lockdowns to combat the spread
of the virus. Unable to visit bank branches, consumers turned to mobile apps and
online banking services to get transactions done

1.25.GROWTH OF ONLINE BANKING.

According to a report by the Boston Consulting Group in collaboration with

FICCI and the Indian Banks’ Association (IBA), India has around 470 million
banking customers. Among this demographic, 60 million of them, amounting to 13%
of the total users, use online banking. And within this category, 10% prefer the hybrid
model of regular online and online banking. About 1% of users primarily prefer the
online channels for all their banking needs.

The global online banking market size was valued at $11.43 billion in 2019

and is projected to reach $31.81 billion by 2027, growing at 13.6% from 2020 to
2027. Online banking is an electronic payment system, which allows the user to
conduct financial transactions via the internet. In addition, it is also known as online
banking or web banking, and is designed to be convenient, thereby providing time-
saving banking experience and real-time problem resolution services.

However, banks should aim to provide more seamless experience between

online & mobile channels and accelerate customer engagement to meet their demand,
needs, & preferences. With changing consumer demands, lifestyle, and expectations
toward banking, the banks are largely switching toward internet or digitalized banking
by implementing technologies. 

However, security & technical issues, privacy concerns, and transaction

difficulties are some of the factors that hamper the market growth. Moreover,
countries, such as China, India, Japan, and Australia, have high demand for massive
internet usage to avail banking services online. As a result, this is expected to provide
lucrative opportunities to the market growth in the coming years. The payments
 segment dominated the online banking industry in 2019 and is projected to maintain
its dominance during the forecast period. Due to huge number of consumers shifting
towards online payment platforms, as it provides more convenience and time-saving
features as compared to the conventional methods of payments in the market. 

CHAPTER 2: RESEARCH METHODOLOGY.

2.1.TITLE OF THE PROJECT.

PERCEPETION OF SENIOR CITIZENS TOWARDS ONLINE BANKING.

2.2.OBJECTIVES

 To study the experiences of senior citizens while using online banking.

 To study the satisfaction level of senior citizens in online banking services
 To identify the problem faced by senior citizens in online banking.
 To ascertain the benefits of online banking for senior citizens.
 To identify the factors influencing the senior citizens towards online banking.
 To identify the reason for avoiding the online banking.
 To understand the perception of senior citizens towards online banking

2.3.DATA COLLECTION METHOD

Data includes facts which are required to be collected to achieve the objectives of the
project. The main sources of information for this study are based on the data collection. Data
collection are both primary and secondary data.
  PRIMARY DATA:
Primary data is a type of data that is collected by researcher directly from first hand
sources through interview, experiments, or survey. I have taken Survey method
through the senior citizens.

 SECONDARY DATA:
Secondary data is the information which is already available. Secondary data is
gathered from studies journals, research paper, website, magazines, newspaper.

 SAMPLING TECHNIQUE.

Population: Senior citizens

Sample sizes: 50
2.4.LIMITATION OF STUDY
 Results of this study and finding are applicable only nearby areas. The result may be
different of this study in another place.
 The sample size is limited to 50 respondents.
 The population is limited to thane district

2.5.SCOPE OF STUDY

 The study deals with awareness, and satisfaction level of online banking services
among senior citizens.

 Senior citizens benefit towards online banking system

 To know the challenges faced by senior citizens in using online banking.

 CHAPTER 3:LITERATURE REVIEW.

In 2001 Aladwami .A.M. in the study stated that “Online banking a field study of
drivers, development challenges, and development challenges and expectation”, the results of
a quantitative study of the perception and bank executive and IT manangers and potential
senior with the regards to the drivers, development challenges, and expectations of online
banking. The findings will be useful for both researchers and practitioners who seek to
understand the issues relevant too online banking.
In 2003, Sarel.D. Howard Stated that “Marketing online banking services the voices
of the customers and senior customer “revealed significant differences in attitudes and
opinions between early users and those that bank hope will adopt next. Most importantly,
future prospects could be characterized as indifferent about online banking. Many were not
convinced about its benefits and the values it provides. While the potential to expand market
for online banking services exists bank need to re-examine their marketing approach.
In 2003, Avinandan M, Prithiwaj N, in their study they recommend that “A model
of trust in online relationship banking,” observed that shared values are most critical to
developing trust as well as relationship commitment. Communication has a moderate
influence on trust, while opportunistic behavior has significant negative effect. Also finds
higher perceived trust to enhance significantly senior commitment in online banking
transaction. An important contribution concerns how trust is developed and sustained over
different level of senior relationship in online banking. The future commitment of the
customers to online banking depends on perceived trust.
In 2004,Jacqueline K. Eastman, Rajesh Iyer, in study they recommend "The
elderly's uses and attitudes towards the online banking" stated that this study shows that the
senior consumers have favourable intentions towards using the Internet; most learned to use
the Internet on their own; and they preferred to learn more about the Internet if any classes
were offered at convenient locations. Those seniors with higher levels of income are more
willing to both use the Internet and purchase products online Journal of Consumer Marketing.
In 2004, Selwyn stated that the ability to use Information Communication
Technology (ICT) is assumed a pre-requisite to living in the information age. Therefore, ICT
is one of the tools that can ensure active ageing and socio- economic participation for the
senior citizens. Due to the high penetration of online banking technology in India recently,
the banking industry has joined their counterparts, all over the world, to develop a web-based
platform (online banking) for customer to have access to bank products and services at the
convenience which could relieve people, especially the senior the burden of travelling down
to bank branches for initiation and completion of financial transaction.

In 2005, Laforet conducted a study on senior citizens attitude and adoption of online
banking shows that several factor pre determining the senior attitudes towards online banking
such as persons demography, motivation and behaviors towards different banking
technologies and individual acceptance of new technology it has been found that customers
attitudes towards online banking are influenced by the prior experience of computer and new
technology.
In 2007, Sylvia E. Peacock and Harald.Kunemund stated that “Senior Citizens
and Internet Technology: Reasons and Correlates of Access versus Non-Access in India
Comparative Perspective”, he discussed the influence of cultural and socioeconomic back
ground on the internet access of senior citizens. He also identified that motivational
indifference and deficient knowledge are the major factors of low usage of internet
technology amongst senior citizens.
In 2010, Rengamani, Upadhyaya, Rao & kumara guru stated that the mains
problem of senior citizens whereby financial abuse is carried out by a family member or close
friends for material benefits, in case where an elderly does not trust his / her own capabilities
owing to their inadequate technology skill and lack of confidence they may end up trusting
other people even in instance where they worry that their trust could be misused. And he also
studies that senior have lack of trust in online banking system with limited or no human
interaction, such that one has to full rely on the technology system. Senior people particular
show widespread mistrust in such system where the human element is less or not available
whereby inquires or question are addressed to faceless and nameless point of contact.
In 2012 Suriyamurthi this study reveals that the perception of the senior citizens can
be changed by conducting awareness program, friendly usages, less charges, proper security,
and the best response to the services offered. He studies says that the surrounding senior
citizens will influence the individual behaviour or in India only environment that surrounds
the public determines the behaviour and decisions of the individuals. So, if senior citizens
meet most of their relatives or friends who are using online banking.
 In 2012, Yan-Qin Su, Ying-Jun Sun in their paper suggested that the development of
Internet, online banking has become a development trend of Bank. It also provides more
opportunity for the profits. The advantages of the online banking draw attentions from each
bank. Its convenience is helpful to develop the bank markets, but also can improve the bank's
financial service level. So, each bank searches for more innovative financial products to
pursue the market share. The SWOT analysis-based method on the internal and external
environment provided the theoretical basis for online banking. The strategic analysis shows
the research value and has certain practical significance
In 2012,Geetha and Malarvizhi in their study presented online banking have
allowed the developments of new and more efficient delivery and processing channels as well
as more innovative products and services in banking industry. Banking institutions are facing
competition not only from each other but also from non-bank financial intermediaries as well
as from alternative sources of financing. Another strategic challenge facing banking
institutions today is the growing and changing needs and expectations of senior consumers in
increased levels and growing wealth. Senior customer is becoming increasingly discerning
and have become more involved in their financial decisions. He also identifies that the factors
which are affecting the acceptance of online banking services among the senior and also
indicates level of concern regarding security and privacy issues in Indian context. He also
depicts many factors like security and privacy and awareness level increased the acceptance
of online banking services among Indian customers. He also identifies that if banks provide
them necessary guidance and ensure safety of their accounts, customers are willing to adopt
online banking.
In 2012,Sufyan Habib in his study identified that online banking has attracted the
attention of banks, securities trading firms, brokerage houses, insurance companies,
regulators and lawmakers in developing nations since the late 1990s. With the rapid and
significant growth in electronic commerce, it is obvious that online banking and payments are
likely to advance. Researches show that impact of online banking on cost savings, revenue
growth and increased customer satisfaction on Industry is tremendous and can be a potential
tool for building a sound strategy. Interestingly, reliable and systematic information on the
scope of online banking in Indian context is still not sufficient, particularly what it means to
the consumers and the bankers. He stated that the significant gaps in knowledge about the
consumer’s perspective of online banking, trace its present growth and project the likely
scenario.
In 2013, Minakshi Dattatray Bhosale and K. M. Nalawade in their paper
identified that online banking is the provision of banking service through channels and the
senior can access the data without any time and geographical limitation. The development of
online banking services is still in its promising stages in India, with a considerable quantity of
potential customers. In the recent years there has been explosion of Internet based online
banking applications. The emergence of new forms of technology has created highly
competitive market conditions for bank providers. However, the changed market conditions
demand for banks to better understanding of senior’s needs. Hence this paper outlines the
concept of online banking with advantages and disadvantages.
 In 2013, Kalaiarasi and Srividya in their paper observed that online banking, an
innovation to traditional branch banking system, is now used as a channel for delivering
financial services by virtually all banks in India. Online banking provides improved
convenience and senior citizens service however, it is observed that Indian banking
customers are adopt online banking services. This study identifies the factors influencing
adoption of online banking services using Roger's innovation diffusion theory. The findings
of the study suggest that, the young generation users adopt online banking when it is suitable
for their lifestyle and if the website is user-friendly.
In 2013,Basavarajappa in his study noted that banking industry is one of major role
player in Indian financial system using innovative delivery channel it is accessible to all with
low cost. With the help of information technology banking sector growing day by day, banks
are finding that a comprehensive online banking strategy is essential for success in the
increasingly competitive financial services market. Due to technology advances and rapid
growth of the internet, an online banking solution can be designed today that is more
effective and less costly than the traditional branch banking. Banks have traditionally been in
the forefront of harnessing technology to improve their products, services and efficiency.
Major concerns of senior citizens include security and privacy because of the growing
number of online frauds, cheating cases and hacking.
In 2013 Jayashree Chavan in her research paper “online Banking- Benefits for
senior citizens and Challenges in an Emerging Economy” She identified that information
technology has taken imperative place in the future expansion of financial services, especially
banking sector conversion are affected more than any other financial provider groups. She
also mentioned that for banking transactions and international trading requires more
concentration towards online banking security against deceptive activities
In 2014, in Sweden, by Jessica Berner, view that senior citizens were found to learn
more about online banking, if they stay with someone else who is also interested in the same.
As nuclear families started to grow, this possibility gets decreased day by day. These senior
citizens were not found to be investing their hard-earned money or pension towards getting
trained in online banking or other allied things.
In 2014 Soar &Su stated that older people are hesitant to use technology or limit their
technology usage due to perceived inadequacy of technical ability, understanding and training
in themselves. By lack of self-confidence when using ICT senior citizens express a need to
help their fellows, especially those whose daily works and routines are not dependant on ICT.
Some of the routines such as banking and paying bills have been repeatedly mentioned as
activities that need an individual trusted capabilities and governance.
 CHAPTER 4: DATA ANALYSIS AND INTERPRETATION.

4.1. Gender

48% FEMALE
52% MALE

FEMALE 52%
 MALE 48%

In the above pie diagram represent the gender who are using online banking. 52% of
female senior citizens are using online banking. And 48% of male senior citizens are using
online banking.

4.2. Occupation

4%

32%
Housewife
Business
Services
52% Others

12%

OCCUPATION PERCENATGE

SERVICES 52%
 HOUSEWIFE 32%

BUSINESS 12%

OTHER 4%

The above graph represents the occupation of senior citizens using online
banking.52% of respondent is doing services. 32% of respondent is housewife. 12% of the
respondent is business. and 2% of them are doing other services.

4.3 Age.

6%

22% 50-60
60-70
70-80
80-90
90 above
72%

Age group No.of responses

50-60 72%
 60-70 22%

70-80 6%

The above table shows the majority of respondent fall under age group of 50-60 years
that is 72% of senior citizens are using online banking, followed by 22% falling under the
group of 60-70. The least number of respondents falls under age group of 70-80 that is 6% of
sample size. There was no respondent in the age group of 80-90 and 90 above.

4.4. Educational qualification

17%

35%
UNEDUCATED
SSC
HSC
23% GRADUATE

25%

EDUCATIONAL QUALIFICATION PERCENTAGE

UNEDUCATED 35%
 SSC 25%

HSC 23%

GRADUATE 17%

The above pie chart represents educational qualification of senior citizens using
online banking. 34% of senior citizens are uneducated according to the pie chart. And 25%
of them are SSC followed by 23.1 % are graduate. And the least respondent is HSC is 17.3%
of sample size.

4.5. How long have you been using online banking?

 The above pie chart represents how often there are using online banking services are
used. 46% of respondent are never used the online banking, 20% of respondent are using
online banking less than 1 year. And 12% of respondent are using online banking 1-3 year,
10% of respondent are using online banking 3-5 year and 12% of the respondent are using
online banking more than 5 year.

4.6. Do you think online banking is difficult.?

40%
YES
NO
60%

OPTION PERCENTAGE
 YES 60%

NO 40%

The above pie chart represents do senior finds online banking is difficult, so 60% of
the respondents was told that online banking is difficult. And there are 40% of the
respondents said that online banking is not difficult.

4.7. What kind of support would you like to have with the use of online banking?
 The above pie diagram represents that the which kind of help senior citizens is need.
58% of respondent are told that they want the help of their family, 22% of respondent said
that they need the help of bank to advise them personally ,14% of respondent said that they
need the help of relative or friend. And the least respondent 3% for they want to participate in
guidance course.

4.8. Why you are not interested in using an online banking?

22%

41% face to face services

other
Dont know to use
unsafe

29%
8%
 The above pie chart represent why they are not interested in using an online banking.
So, 40.8% of the respondent allowed due to face-to-face services problem, 28.6% of the
respondent allowed due to no phone. And 22.4% of the respondent allowed because they feel
that online banking is unsafe. And at least 8.2% of the respondent allowed because they don’t
know how to use the online banking.

4.9, For what purpose you are using online banking?

 70%

60%

50%

40%

64% purpose of online banking

30%

20%

28%
10%

8%
0%
financial purpose business purpose electronic
purpose

The above graph represents purpose online banking used by senior citizens. 64% of
respondent uses online banking for all financial purposes and 28 % of respondent uses online
banking for electronic purpose and at least 8% of respondent use for business purpose using
the online banking

4.10. What is the satisfaction level with online banking service?

 The above pie diagram represents the satisfaction level with online banking service.
38% respondent have a neutral satisfaction level towards online banking.26% respondent
have a satisfied level towards online banking. 22% respondent have a highly satisfied level
towards online banking. And at least 14% of respondent have dissatisfied level towards
online banking.

4.11. Which factor promotes you to use online banking services?

 14%

12% reduces times

Conveniences
easy to use
58% others
16%

The above pie diagram represent which factor promotes them to use online banking.
58% of them respondent said that it reduces the times. 16% of them respondent said that it is
conveniences. And 14% of them respondent use because of other factors. And at least 12% of
the respondent said that it is easy to use the online banking.

4.12. Are you satisfied with the facilities offered in online banking?
 OPTION PERCENTAGE

YES 34%

NO 14%

MAYBE 52%

The above pie diagram represents satisfied with the facilities offered in online
banking. 34% of the respondent are satisfied with the facilities offered in online banking.
52% of the respondent are Neutral with the facilities offered in online banking. And 14% of
the respondent are not satisfied with the facilities offered in online banking.

4.13. Do you think online banking is safe and secure?

 The above pie diagram represent that the online banking is safe and secure. 54% of
respondent said that it is neutral means online banking is safe as well as secure. 24% of the
respondent said that they agree with the online banking is safe and secure. 16% of the
respondent said that they disagree. And 6% said that they are strongly agree the online
banking is safe and secure.

4.14. Do you think online banking would make banking more convenient for you?
 32%
40%
Yes
No
Maybe

28%

The above pie diagram represent online banking is more convenience. 40% of the
respondent said that it maybe online banking would make banking more convenient. 32%
of the respondent said that it is yes online banking would make banking more convenient.
And 28% of them said that no online banking would not make banking convenient.

4.15. How do you come to know about online banking?

 6%
26%

advertisement
through friends
by bank
46% family

22%

The above pie diagram represents how did they know about the online banking .46%
of respondent said that they came to know with the help of the bank. 26% of respondent said
that they came to know through advertisement and 22% of respondent said that they came to
know through friends and at least 6% of respondents said that they came to know with the
help of family member.

4.16. What is the risk factor involved in online banking as per your opinion?
 The above pie diagram represents that the risk factor involved in online banking. So, 42%
of respondent said that due to risk of being hacked. 24% of respondent said that due to
security concern.24% of respondent said that due to data privacy issues. And 8% of
respondent said that due to insecure websites. And at least 1% of respondent said that due
to loss of internet.

CHAPTER 5:FINDINGS.
 The study results showed there is no significant difference between genders in
accepting and using the technology

 The major sources of are not awareness about online banking

 Majority of respondent of senior citizens in the age group of 50-60 using online
banking.

 Majority of respondent said that they never used online banking.

 Majority of senior citizens said that online banking is difficult,

 Majority of senior citizens have said that they need a help for family or for bank
staff to advise them about online banking and need to taught them the importance of
online banking.

 Majority of senior citizens are not interested in online banking due to avoids of face-
to-face interaction.

 Some of the respondent uses online banking for their financial purpose or electronic
purpose.

 Majority of senior respondent that there has neutral satisfaction level towards online
banking

 Some of the respondents are not satisfied with the facilities offered in online
banking.

 Majority of respondent said that online banking make banking more convenient.

 Majority of respondent came to know online banking services through the bank staff

 Majority of respondent have said that risk of being hacked, security concern,
insecure websites, loss of internet and data privacy are the main factor involved in
online banking.

 Majority of respondent have said that convince, saving time, easy to use the online
banking.

 According 2001, a Reserve Bank of India survey revealed that of 46 major banks
operating in India, around 50% were either offering online banking services at various
levels or planned to in the near future. According to a research report, (India
Research, Kotak Securities, May 2000.) while in 2001, India's online user base was an
estimated 9 lakh; it was expected to reach 90 lakhs by 2003. Also, while only 1% of
 these online users utilized the online banking services in 1998, the Online banking
user base increased to 16.7% by mid- 2000.

 Ameme, (2015) survey that young people are easily attracted to online banking than
the old people adopting the online banking. There is a component of fear among the
oldies regarding technology and its use. It has motivated the researchers to
concentrate on young age group.

 According to Braganza and Venkatesh in this context they advised that bank could
persuade that senior citizens user to help in promoting online banking to the non-
users (those are not using online banking) through positive word of mouth bank
could also employ the use of social websites and communities the elderly belong to
promotes online banking benefits.

CHAPTER 6 : CONCLUSION.
 The aim of study was to explore seniors’ experience of online banking. And serval
senior citizens are interested in online banking services. The result shows about their
experience and satisfaction level of using online banking. The suggestion made by senior is
they need help for family member or from bank staff to guide them how to use online
banking. The function should redesign in an easy method so that senior citizens can
understand it easily. This study also concluded that the technology has not greatly influenced
the senior customer. This study also concludes various factor such as easy to use, reduces
times, convince some of the advantages of online banking those who are using online
banking.

It is further revealed that who are using online banking have different suggestion
about online banking. Results of this study and finding are applicable limited areas. Thus, to
some extent the study is compressive in both senior using online banking and senior who are
not able to use online banking. Both uneducated and educated senior citizens find it difficult
to use mobile apps and online banking. The Government of India and Indian banking system
needs to take more initiatives to educate and develop online banking services for senior
citizens.This study also concluded that various factor such as security cocern , risk of being
hacked , data privacy issues , loss of internet, insecure webistes some of the risk factor of
online banking for senior citizens who are using online banking.
 CHAPTER 7: SUGGESTION.

 Awareness level about online banking is very less among senior citizens.

 Introduction of online banking should be speeded up because size of the bank is

considered an important factor in choosing banking.

 The banks should improve the satisfactory level in online banking by introducing
simple techniques for senior citizens.

 Make a strong regulator for online banking for proper coordination and
implementation.

 Banking and other financial institution should update their application on regularly
basics with new features for senior citizens an also offer a smooth banking
experiences as possible for all the users.

 The bank should give guide to senior citizens about online bank.

 The government must propose more secure and tight security to stop the online
banking risk involved.

 Banking sector should guide the senior citizens that online banking is safe and
secure for the use.

 This study also concluded that the government taken the incentives programmes for
senior regarding the safe online banking, and senior should be encouraged to avail
online banking services by providing necessary information support.

 Make sure that all smartphones, tablets, laptops etc. are coming with pre-installed
and secured online payment application and biometric readers.

 And the need of online banking. senior need larger font, the use of highly contrasting
colour selection
 BIBLIOGRAPHY.

J. Nielsen, “Seniors as Web Users” 2013[Online]. Available:

https://www.nngroup.com/articles/usability-for-senior-citizens.html.

Jayshree Chavan. Online banking Banking- Benefits and challenges in an Emerging

Economy. Int J Res Business Manag 2013

International Journal of Scientific and Research Publications, volume 3, issue 12, December
2013 (www.ijsrp.org)

Jacqueline K. Eastman, Rajesh Iyer, (2004) in "The elderly's uses and attitudes towards the
Internet". Journal of Consumer Marketing

https://sourceessay.com/advantages-and-disadvantages-of-e-banking/

https://smallbusiness.chron.com/online-banking-disadvantages-

https://smallbusiness.chron.com/online-banking

https://www.nngroup.com/articles/usability-for-senior-citizens/

https://www.net/RaghuRoy1/study-of-online-banking-in-india

https://www.e-spincorp.com/types-online-banking-e-banking/

https://www.paisabazaar.com/banking/online - banking

/https://www.1stsource.com/faq/what-are-the-features-of-online-banking

https://www.financialexpress.com/industry/banking-finance/online-banking-users-in-india-to-
reach-150-billion-by-2020-according-to-a-study/731048/lite/
https://en.wikipedia.org/wiki/Online_banking
https://www.thehindubusinessline.com/opinion/columns/from-the-viewsroom/outcasts-in-a-
digital-world/article9709231.ece/amp/
https://www.thebalance.com/three-advantages-of-online-banking-2385804
https://www.dqindia.com/a-journey-to-the-future-of-banking-in-india/amp/
https://www.gobankingrates.com/banking/banks/history-online-banking/amp
https://www.financialexpress.com/industry/banking-finance/online-banking-users-in-india-to-
reach-150-billion-by-2020-according-to-a-study/731048/lite/
https://en.wikipedia.org/wiki/Online_banking
https://www.researchgate.net/publication/271249448_Online_Banking_System-
Its_Application_in_Some_Selected_Private_Commercial_Banks_
https://www.thehindubusinessline.com/opinion/columns/from-the-viewsroom/outcasts-in-a-
digital-world/article9709231.ece/amp/
https://www.thebalance.com/three-advantages-of-online-banking-2385804
https://www.dqindia.com/a-journey-to-the-future-of-banking-in-india/amp/
https://www.gobankingrates.com/banking/banks/history-online-banking/amp
 APPENDICES.

QUESTIONNARIES

1. Age
 50-60
 60-70
 80-90
 90 above

2. Gender
 Male
 Female

3. Educational qualification
 Uneducated
 SSC
 HSC
 Graduate

4. Occupation
 Unemployed
 Housewife
 Business
 Other if any _________

5. For what purpose you are using online banking?

 business purpose
 electronic payment
  all financial purpose
 other

6. How long have you been using online banking?

 Never used
 Less than 1 year
 1-3 year
 3-5 year
 More than 5 year

7. Do you think online banking is difficult?

Yes \ No

8. why you are not interested in using an online banking?

 Face to face services
 Unsafe
 Don’t know how to use
 Others.

9. What kind of support would like to have with the use of online banking?
 I want my relative or a friend to help me
 I want the bank staff to advise me personally
 I want my family to help me
 I would like to participate in guidance course

10. What is the satisfaction level with online banking services?

 Highly satisfied
 Satisfied
 Neutral
 Dissatisfied
 Highly dissatisfied

11. Do you think online banking being safe and secure?

 Agree
 Strongly agree
 Neutral
  Disagree
 Strongly agree
12. Which factor promotes you to use online banking services?
 Reduced time
 Effectiveness
 Easy to use
 Conveniences
 Other if specify_________________

13. Do you think online banking would make banking more convenient for you?
 Yes
 No
 Maybe

14. How do you come to know about online banking?

 Advertisement
 Through friends
 By bank
 Other

15. What are the risk factor involved in online banking as per opinion?
 Security concern
 Risk of being hacked
 Data privacy issues
 Loss of internet
 Insecure websites