Customer Acceptance of Online Banking in Developing Economies

TLDR

Technology is reshaping everyday life, and online banking has gained global recognition with many banks offering such services. The study aims to assess customer acceptance of online banking. The study finds that online banking is rapidly adopted worldwide, with about 50 % of Pakistani clients switching from traditional banking, driven by perceived usefulness, security, and privacy.

Abstract

Technology is affecting the life of every individual in this present age. Online banking is also one of the technologies which are getting recognition around the globe. There are a lot of customers around the world who are accepting this technology very quickly but in growing countries like Pakistan the adoption ratio is very high. There are many banks which are providing these facilities to customers. The basic purpose of this research is to evaluate the customer acceptance of online banking. Almost 50% of the clients shifted from traditional banking to online banking system. The core reason of this transfer is perceived usefulness, security and privacy provided by online banking.