4.1 OVERVIEW
This chapter presents the data gathered from the survey questionnaire conducted by the researcher from UK banking industry. Basically, there were only 40 replies from personal customers and 6 replies from business customers. With this regard, the researcher still believed that this number is adequate enough to represent the clients in banking sector in UK. In addition, 78 replies are also received from bank employees. The findings of the study are presented in different sections. Part One presents the profile of the respondents of this study. The object is to determine to what extent will consumer resistance inhibit the growth of internet banking in the UK. This is the manner unto which the study accounts the factors and the perception on the criteria themselves.
The conduct of this study entails a detailed account of the demographic profile of the respondents. It is assumed that the attributes of the respondents influence their behavior and answers on the survey questions. Of particular significance to the achievement of the goals and objectives of the study – which is to be an instrument of analysis of the institution to gauge where it is now and where it is heading, thus what changes are to be made – is to be able to answer the following questions:
“To what extent will consumer resistance inhibit the growth of internet banking in the UK?”
Sub-questions:
1. What do different customers want and expect from the services offered by banks in UK?
2. What are the attitudes of bank customers in UK towards services offered online?
3. What are the perceived advantages and disadvantages of Internet Banking?
Apparently, Part Two describes the perceptions of the customer respondents regarding the role of information technology e.g. Internet banking to Banking sector in UK. Part Three presents the discussion regarding the influence of technology in business relationship as viewed by the bank employees. And lastly, Part Fours shows the synthesis of the gathered information.
4.2 Demographic Profile of the Respondents
With regards to the goal of the study i.e. to determine the importance of technology to the enhancement of customer relationship, the researcher conducted survey to both bank clients and employees. The next section shows the demographic profile of the two groups of respondents such as bank clients and employees. The banks clients are comprises of both business and personal clients.
A. Bank Clients’ Demographic Profile
In accordance to the demographic profile of the bank clients, they were asked regarding their age, gender, civil status, type of bank transactions, and information concerning internet banking usage.
Table 1. Age
As indicated in table 1, majority of the respondents fall under 26-35 years old category which is actually the 50% of the surveyed bank clients. Actually, 13% of the clients are in the age range of 46-55 years old and 18-25 years old. There were only 15.2% of the subjects who are in the 36-45 years old age group. Aside from this, there was only small percentage (8.7%) of surveyed clients are in 56 and above years old status. As seen in the presentation and with respect to their perceptions towards the importance of technology, there are substantial numbers of representatives in different age group.
Table 2. Gender
Table 2 identifies the gender of surveyed bank clients. As seen in the table 56.5% of the subjects are male and 43.5% are female. With this respect, there is a close number of respondents with regards to their gender groups. The male respondents outnumbered the female subjects by approximately 13% only. This indicates equal representation in terms of gender.
Table 3. Civil Status
Table 3 indicates the civil status of bank client respondents. Based on their responses, 60.9% are married and 39.1% are single.
Figure 3. Type of Bank Transactions
Apparently, the respondents were also asked regarding to the type of bank transactions. From the results of the survey, most of them (i.e. 54%) are either doing bank payments or money transfers. On the other hand, some of the clients i.e. 21% are in the bank to process checks and do deposits (25%). There are only some people responded that they do ATM, Loans and Savings transactions to these banks.
Figure 3. Internet Banking Usage
As part of the survey and in accordance the goal of the study, the subjects were also asked pertaining to their internet banking usage. And from the results of the survey, 89% of them uses Internet Banking while only 11% of them do not. Actually, majority of them uses Internet Banking for about 2-3 times in a month. On the other hand, from the 11% who do not practice Internet banking, they believed that Internet Banking is not comfortable particularly in checking of personal details on the Internet. They were also identified as conservative, not computer literate. Some of them also viewed it as hassle because they have to remember username and passwords.
B. Bank Employees’ Demographic Profile
Table 4. Age
Table 4 show the age range of the employee respondents. 42.3% of the respondents were 26-35 years old, showing that most of them were already considered as young adult. Twenty one percent (21%) of the respondents were between 36-45 years old. On the other hand, a little percentage of 2.6% of the respondents is in more than 55 years old status. Basically, the apparent diversity of the maturity of the respondents reflects several implications in the study’s findings. To illustrate, the age bracket of the respondents has significant effect to the results of this study since the reliability of the responses becomes more affectivity if we consider the maturity of the subjects.
Table 5. Gender
Table 5. The number of the female respondents (55.1%) shows a little discrepancy to the male (44.9%) with the total of 43 for female and 35 for male. Based on the figure, the dominated gender among the respondents is female. Based on the collated questionnaires, more than a half of the population is composed of female respondents while 44.9% are females. This shows an almost virtually equal footing in terms of representation of gender regarding the perception of respondents to the importance of technology in enhancing customer relationship in banking sector of UK. The female employee respondents outnumber the female respondents by approximately 10.2%; this data provides a glimpse of the aggregate size of women in the workforce particularly of banking business environment.
Table 6. Level of Education
Figure 3. Likewise, the respondents were asked for their educational attainment and the report shows 50% of them are graduates. The survey indicates that most of the respondents are graduate that is engage to the study. The diversity of the population is further asserted when the respondents were asked regarding their professional history. This data illustrate the maturity of the respondents particularly in terms of experience. On the other hand, the apparent youthfulness of the respondents, provided by their age and their lack of professional experience could not be considered as deterrence to their responses considering that the researcher has made sure that the respondents have been connected with the company for at least twelve months. Moreover, there is a noticeable distinction of the respective positions of the younger generations in their respective perceptions towards the establishment of information technology in their banks.
Table 7. Grade
Table 8. Deployment
From the surveyed bank employees, 61.5% of them are in clerical and only 38.5% are in managerial positions. Basically, these employees are either deployed in a branch or non-branch unit. And as indicated in table 9, 65.4% of them are in non-branch unit while 34.6 are in branch. Their job nature was also asked and the results are presented in Table 9. Actually, from 78 respondents 56 of them didn’t identify their job nature. However, 7.7% of them are in personal banking, another 7.7% are in business banking, 6.4% are in IT sector.
Table 9. Job Nature
4.3 Perception of Customer Respondents
The following presentation indicates the perception of the customer respondents (i.e. both from business and personal clients) on information technology development in different banking industry.
Table 10. Perception of Customer Respondents concerning Bank’s Technological Effort
Statements
5
4
3
2
1
Weighted Mean
Interpretation
1. Internet Banking helps in giving fast and efficient Service.
33
9
4
0
0
4.6304
Strongly Agree
2. With regards to the banks' technological effort, I am satisfied with the current services offered by my bank.
17
25
4
0
0
4.2826
Agree
3. The transaction speed was excellent because of the current technology system.
20
17
9
0
0
4.2391
Agree
4. Even though the bank adopted Internet Banking, confidentiality of information and data security are still their main concerns.
19
11
12
3
1
3.9565
Agree
5. Internet Banking adoption improved my trust in the bank.
6
16
20
3
1
3.5
Agree
6. Adoption of technology increases the degree of friendliness of customer service.
8
10
9
11
8
2.9783
Uncertain
7. Bank personnel are well trained and knowledgeable in relation to Internet Banking to enhance relationship with customers.
12
19
10
4
1
3.8043
Agree
8. All my requests/enquiries related to Internet Banking are accommodated/solved.
16
18
8
3
1
3.9783
Agree
9. I am aware of the current innovation and new service developments of my bank.
8
19
8
9
2
3.4783
Uncertain
10. I will recommend my bank to others because of their excellent and efficient service and technology systems.
16
20
8
1
1
4.0652
Agree
11. With regards to the overall service performance, my Bank is excellent.
11
23
7
3
2
3.8261
Agree
The proliferation of information technology is bringing a string of fears about security and privacy issues for both for banks and customers. The table above shows the result of the survey questionnaire (see Appendix) of the respondents in regard to their perception towards internet banking. The column 5, 4, 3, 2, and 1 signifies the 267 respondents who answered to the different degree of responses. For example, in statement number 1, there are 33 respondents who answered 5, 9 for 4, 4 for 3, 0 for 2, and 0 for 1. The weighted mean column shows the mean answer of that particular question that is 4.6 and interpreted it as Strongly Agree. The table above shows that most of the respondents has different perception on the given survey statements. All the statements from the survey are clear to the respondents. Actually, majority of the subjects agreed that Internet Banking helps in giving fast and efficient Service thus they are satisfied with the current services offered by my bank. With regards to the transaction speed, they also viewed it as excellent due to the current technology system. They also agreed that even though the bank adopted Internet Banking, confidentiality of information and data security are still the main concerns of most banks in UK and Internet Banking adoption improved clients trust in the bank.
Apparently, majority of the clients are uncertain if adoption of technology increases the degree of friendliness of customer service in banking sector but they majority of them agreed that bank personnel are well trained and knowledgeable in relation to Internet Banking to enhance relationship with customers since all of their requests/enquiries related to Internet Banking are accommodated/solved.
Even though the respondents are uncertain about their awareness of the current innovation and new service developments of their bank, they will still recommend the bank to others because of their excellent and efficient service and technology systems. Moreover, they believed that the overall service performance of their respective bank is excellent.
4.4 Perception of Bank Employee Respondents
With respect to the perception of respondents from bank employees, the following presentations will describe their perception towards technological efforts of their banks in enhancing customer relationship and bank services.
Figure 4
Figure 4 illustrates the perception of surveyed bank employees towards quality. According to the majority of subjects (i.e. 28%), quality signifies satisfaction of external customers. Satisfaction of internal customers is also important to 22% of the surveyed bank employees. Quality is also reflecting to the value of money according to 19% of total surveyed employee participants.
Figure 5
As revealed in figure 5, the technologies among banks in UK are used to increase competitive advantage of the organization according to the surveyed bank employees. The result was justified by 25% responses from the subjects. Aside from this, 22% of the total employee participants believe that technologies are installed in banks to enhance customer satisfaction. Apparently, 14% of them believe that employee satisfaction and increased of market share are the primary reason of banks collaboration to new technologies.
Figure 6
For majority of the employee respondents, the technological effort of banks was due to the need of competitive advantage. Basically, more than half of the total employee respondents (i.e. 55%) believe that technological advancement is needed to enhance the competitiveness of the bank. 36% of them believe that it is only use to increase profits. And only 9% of them believe that it is use to eliminate complaints from their clients. Actually there were also other comments from surveyed participants. Some of them stated that it is needed to enhance customer quality for a better service and better management information. Some also stated that it is needed to speed up the service provided which is also a tool to offer other products and services.
Figure 7
Figure 7 illustrates the responses of the respondents regarding things that need consideration in installing of information technology among organizations. Based on the responses of the participants, quality of customer relations was considered first which was verified by 257 votes. Apparently, scope was ranked 2nd and safety was ranked 3rd. Scope is in rank 4 and time is at rank 5.
Figure 8
From the presentation 49% of the respondents believed that the technological competitiveness of their respective bank organizations was set based on the standards of the leading banks in the field. 37% of them believed that the standard was against the competition in general and only 14% stated that the standard was against the level set internally. Despite to these arguments, some stated that their banks are innovating in responses to the international standards.
Figure 9
With regards to the current stance of technology among banks, majority of the employee respondents viewed that technological adaptation was performing great. Actually, 83% of them as seen in figure 9 believed that the technological developments adapted by their respective banks are positive and only 3% of it shows negative response. There is also a small number of respondents who are not sure regarding the current stance of technology.
Figure 10
Most likely, majority of the banks in UK sees technological adaptation as great adaptation, however, banks that adopted new technologies needs to give some efforts that will guide their clients. With this regard, figure 10 shows that the 53% of the surveyed employees believed that their banks provide 24/7 customer help. 24% shows that their banks provide printouts/manuals on how to use the new technology. There were also some advertisement on television and some of them provide free internet tutorial.
Figure 11
As viewed by the majority of surveyed bank personnel (78%), the possible effect of technological efforts and adoption of their banks would lead to the increase of the number of customers. However, 12% of them viewed that it will results to decrease the number of customers and 10% believed that it has no effect.
Figure 12
In response to the development of technology, banks make sure that technologies are for the advantage of their clients. With this regard, majority of surveyed bank employees believe that this new technologies enable the bank customer to have an easy updates of their bank information. Moreover, 42% of them believe that it is essential to customer in order to have an easy access to customer service. 13% of them believe that though this, handling of customers complaints could be easily addressed. Some of the subjects believe that it could decrease queues and thus a more expedite service. Processing time could also be decreased, 24/7 service becomes possible, reduced costs to customer will become apparent, technology will also assists bank in identifying trends, customer requirements, and fine-tune product development. Actually, many customers prefer to bank online, thus having a secure interface is of utmost importance, strengthening relationships.
Figure 13
From the responses of the surveyed bank personnel, 49% of them believed that their bank solve problems by assigning an individual that could handle it effectively. 36% of them stated that there is a team that is permanently there to solve problems. Basically, there are only 15% who stated that there is a set of a multi-disciplinary team for each problem. Despite of these responses, there are other participants stated that bank solve problems depending on the actual problem. With regards to customer related problems normally these are handled at branch level with problem escalating to manager or above onl1 if necessary. Some also argued that in other cases problems are solved by tackling each case individually, discussing and finding solutions through communication and obviously finally acting on decisions taken.
Figure 14
As indicated in Figure 14, majority of the surveyed employees (i.e. 84%) believed that their respective banks have a so-called system in fathering customer complaint. This process could actually enhance the relationship between customers and banks.
Figure 15
47% of the subjects viewed that complaints are usually about slow system, 35% stated that it is more on slow transaction updates, 10% for inaccessibility system issues, and 8% regarding information security such as pharming and phishing. Actually, some respondents pointed out that majority of banks clients are satisfied with the current bank system, however, more user friendliness systems was still needed (comes from less educated IT-wise customers).
Figure 16
Similar to other industries, most of the surveyed participant believes that their organization measures customer satisfaction through survey questionnaires. Some also believed that it is reflected through number of complaints and a little percentage of them believes that satisfaction of customer is not measured. Aside from this, some participants indicated that feedback from branches, seminars, feedback from customers, from complaints also are essential in determining satisfaction of customer. Apparently there is also a response that their bank use to outsource a 3rd party company specialized on customer satisfaction e.g. mystery shopper or focus groups.
Figure 17
As indicated by employees, 58% of them viewed that only key personnel are empowered. 38% of them believed that they can’t say if they are being empowered. 1& stated that empowerment is not needed. And 3% stated that they were fully empowered.
Figure 18
With respect to the support systems, majority of the employee respondents i.e. 60% agreed that it is installed properly to meet the increasing demands of the customers.
Table 11. Perception of Employee Respondents concerning Bank’s Technological Effort
Statements
5
4
3
2
1
Weighted Mean
Standard Deviation
Interpretation
The bank's management is addressing the need to cope with business changes.
11
38
22
6
1
3.6667
0.8629
Agree
The bank's management is addressing the issues on technology and CRM strategies.
8
44
24
3
1
3.7143
0.75841
Agree
The bank's management is responding to the need to have qualified and competent personnel.
15
35
17
8
3
3.6538
1.02978
Agree
The bank's management is responding to the needs of its customers.
11
37
23
6
1
3.6538
0.8653
Agree
The bank's management is handling the current organization well.
9
29
27
8
5
3.3718
1.03333
Agree
As seen in the presentation, majority of the respondents agreed with regards to the given statements. Thus, the bank's management is addressing the need to cope with business changes, the issues on technology and CRM strategies were also addressed. The bank's management is also responding to the need to have qualified and competent personnel as viewed by the subjects. The bank's management is responding to the needs of its customers and handling the current organization well.
4.4 Synthesis
As revealed by the perceptions of the respondents on the advantages to be acquired in the application of the information technology, the information technology can also be a symbol of power and control at the industry, class, or societal level. And also, through information technology there is an immediate delivery and superb service to bank customers in any part of UK. Moreover, another advantage of Internet banking as perceived by the respondents are there will be mass customization services, specifically tailored to different cultures or national idiosyncrasies, at no incremental cost relative to standardized mass production. Furthermore, application of IT noted to appeal to people as entertaining or status-improving technology. However, the respondents are uncertain if the use of new technology has been found to signal competence and rationality and managers and professionals associated having a computer in one's office with being more status conscious, career oriented, dynamic, logical, open-minded, younger, and less conservative. Apparently, the respondents are also agreeing about the application of IT that performs a descriptive function in transmitting information about an organization.
With regards to the perceptions of the respondents on the disadvantages that have been or can be acquired from the information technology to banks, acquiring information technology could be very costly. Aside from this, information technology among banks can have information communication resources to participate in world markets. Moreover, bank staffs are becoming more IT dependent that is disadvantage for the bank. IT will have a fundamental impact on the world of banking business, they will not "change everything overnight" as some observers predicted initially which a disadvantage is. Actually improper use of Information Technology on how banks are presently operates could affect security issues. With these issues, customers tend to refuse usage of internet banking.
As revealed in the presentation of information, information technology e.g. internet banking among banks in UK is an advantage. The drawbacks of internet banking are only minimal and banks could still create ways to run it smoothly. The results also justified that technology is essential in enhancing customer relationship as viewed by both clients and employees of bank industries in UK.
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