An Empirical Analysis of the Awareness and Satisfaction Level of Internet Banking Users with Respect to Demographic ProfileSonia Chawla* and Ritu Sehgal** This study is an attempt to explore the sources of awareness regarding Internet banking and usage of Internet banking services. The study also assesses the satisfaction level of the respondents on the basis of their demographic profile across the public and private sector banks. The data was collected from 120 respondents belonging to State Bank of India (SBI), Punjab National Bank (PNB) and Canara Bank among the public sector banks, and Industrial Credit and Investment Corporation of India (ICICI) Bank, Housing Development Finance Corporation (HDFC) Bank and Axis Bank among the private sector banks in the state of Punjab. The survey was conducted from February to April 2011. The study reveals that age has a statistically significant effect on the choice of a particular bank. Income also has a significant influence on the number of banks used. As regards gender and customers’ preference of bank, it was found that there is a significant influence of gender on the preference of bank. An analysis also demonstrates that statistically there is no significant relation between age and number of banks used, gender and number of banks used and income and customers preference of banks. Introduction The Internet, as a part of information technology, has become an integral constituent of research and development. Only 0.1% of the total population of India was using Internet in 1998, whereas in 2007, the figure increased to 3.7%, and by 2015, the online population is expected to reach 70 million. This illustrates the phenomenal increase in the use of Internet and the high probability of increase in Internet usage in the future. According to a recent report by Akamai, a firm that runs a global distributed network of servers, India ranked 143rd globally with an average connectivity speed of 0.8 Mbps in Q3 of 2010. The report shows that Internet penetration in India has risen by 23%. According to the study of Forcht and Wex (1996), “Internet provides opportunities for businesses to increase their customer base, reduce transaction costs and sell their products globally”. Sathye (1999) stated that Internet is transforming the banking and financial industry in terms of the nature of core products and services. The Internet is claimed to * Professor, DAV Institute of Engineering & Technology, Jalandhar 144008, Punjab, India. E-mail:
[email protected] * * Assistant Professor, DAV Institute of Engineering & Technology, Jalandhar 144008, Punjab, India. E-mail:
[email protected] 62 © 2012 IUP. All Rights Reserved. The IUP Journal of Marketing Management, Vol. XI, No. 1, 2012 be the base of a new industrial structure (Furash, 1999), that will uproot the medieval foundations of the banking system (Nehmzow, 1997). Internet has greatly influenced the expansion of banking services. Durkin and Howcraft (2003) stated that “in the banking industry, the use of the Internet has been recognized as an effective relationship marketing tool”. Services provided through Internet banking are e-tax payment, accessing the account, online trading of shares, online remittance of money, electronic bill payment, railway reservation, transfer of funds from one customer’s account to another and application of loan, to name a few. Today, customers prefer to transact through userfriendly devices. Therefore, they prefer to conduct transactions through the Internet. Les Echos (2004) found that in France, 94.3% of the people visit their bank’s website to check their accounts and 63.4% visit the website to transfer funds. Novametrie (2004) stated that in Europe, a majority of the clients use banking through the Internet than other networks. Ashford (2007) reported that in UK, the use of Internet banking increased by 174% between 2001 and 2006 for a total of 17 million cyber-clients. Awareness about various services is very essential so that people can utilize the services to the maximum and service providers can also increase their customer base. Awareness about Internet banking services can be brought about by different means such as TV, radio, magazines, journals, newsletters, newspapers, Internet, bank officials and so on. The demographic profile of the customers should also be taken into account so that satisfaction can be provided as per their expectations and requirements. Literature Review A number of studies have been undertaken to analyze the awareness and satisfaction level of Internet banking users. Daniel (1999) reported that demographic factors have a great impact on consumers’ perceptions and intentions towards Internet banking. Balachandher and Balachandran (2001), in their study, found that there were greater promotional efforts on the part of banks to create greater awareness of Internet banking and its benefits were important for the success of Internet banking services patronage. Karjaluoto et al. (2002) found that Internet banking users in the Finnish market were generally highly educated and relatively young. Demographic factors affect online banking behavior (Laforet and Li, 2005). Mann and Sahni (2008) conducted an in-depth study of the overall demographic profile of the active users of Internet banking. The study found that the most frequently used sources of awareness were bank personnel (50.57%), followed by bank literature and periodicals (26.2%), friends/colleagues (17.1%) and newspapers (6.13%). It was also found that in the case of private sector banks, Internet banking was most frequently used for sending e-mails to the banks for any query (2.92%), followed by balance inquiry (2.90%), ordering for check book (2.25%), bill payment (2.09%), fund transfer (2.04%), opening of fixed deposit account (1.98%), paying credit card bills (1.85%), stopping payments on check (1.72%), check tax deduction (1.62%), ordering demand drafts (1.61%) and applying for loans (1.54%). It was also found that in both the sectors, i.e., public and private sector banks, Internet banking users use it mostly for balance enquiry. This study revealed that the users of private sector banks An Empirical Analysis of the Awareness and Satisfaction Level of Internet Banking Users with Respect to Demographic Profile 63 The most frequently used services by the customers were: reviewing the account balance. Selvam and Nanjappa (2011). It was found that the awareness of Internet banking proved to be relatively high among business firms. in their study. and • To study the awareness level of respondents using Internet banking across public and private sector banks. profession of the customer and preference of bank. reliability. Research Objectives This study aims to achieve the following objectives: • To analyze the demographic factors (age. 2012 . gender and income) of respondents using Internet banking with their preference of banks. namely.000 per month was high as compared to other income groups. No. except the number of banks used. transfer funds to other accounts outside Kuwait and issuing standing orders. gender and income level) across public and private sector banks. It was also found that statistically there is a significant relationship between customers’ employment sector and their age group on the one side and their choice of bank on the other side. privacy of information and ease of use. 64 The IUP Journal of Marketing Management. transfer funds between company’s own accounts. XI. obtaining detailed transaction histories.use Internet banking services more often than the users of public sector banks. It was found that the level of satisfaction with non-Kuwaiti banks was relatively higher than with Kuwaiti banks. The study also revealed that there was no significant impact of demographic variables. The study revealed that awareness level of income group above 10. The factor ease of use was loaded high by the respondents. • To assess the satisfaction level of respondents using Internet banking with respect to demographic factors (age. 1. obtaining information about deposits. responsiveness. • To analyze the demographic factors (age. Vol. and gender and number of banks used. Maiyaki and Mokhtas (2010) found that there was no significant relationship between e-banking facilities and choice of banks. examined customers’ awareness and satisfaction about e-banking of ICICI bank on the basis of demographic profile of the Internet banking users. customers had no trust in websites. It was found that the awareness level of college level education group respondents was high as compared to other educational groups. It was also found that there was a significant difference between small and large size families as regards the satisfaction level of respondents. Khurana (2009) studied the perception of Internet banking users through the relationship between demographic characteristics of users along with the five independent factors. As regards reliability. efficiency. Almahmeed et al. It was also found that the age of the respondents had a significant bearing on the efficiency. (2008) conducted a research on all Kuwaiti and non-Kuwaiti banks. except age of customers on privacy of transactional information. loan interest rates. It was found that there was no significant relation between age and preference of bank. gender and income) of respondents with the number of banks for availing Internet services. transfer funds to other accounts within Kuwait. The study revealed that there was no significant impact of demographic variables on responsiveness. The secondary information sources used for the present research include various journals and magazines. the relevant data was obtained from secondary as well as primary sources. Development of Null Hypothesis H1: There is no significant relation between age and customers’ preference of banks. this research is being made from the customers’ perspective to analyze their awareness level regarding various Internet banking services offered by the banks. Analysis of Variance (ANOVA) and F-test have been applied for analyzing the data. cross-tabulations. frequencies. Therefore. H2: There is no significant relation between age and number of banks used. and Industrial Credit and Investment Corporation of India (ICICI) Bank. This study was also conducted to analyze the satisfaction level with respect to the respondents’ demographic profile. This study has a practical value as the findings can be used by banks as guidelines to work with the customers in the future and serve them better by providing services as per their expectations and requirements. H6: There is no significant relation between income and number of banks used. SPSS. The data was analyzed through the statistical package. H5: There is no significant relation between income and customers’ preference of banks. Percentage analysis. while judgment sampling is based on the intuitive knowledge of the researcher so as to include only those respondents who have knowledge about the particular problem. and Internet banking is one of such services. A well-structured questionnaire (Appendix) was prepared and distributed to the customers of the State Bank of India (SBI). out of which 56 respondents belong to public sector banks and 64 belong to private sector banks. Housing Development Finance Corporation (HDFC) Bank and Axis Bank among the private sector banks in the state of Punjab. ANOVA has been applied in order to determine the significance of the differences across the two categories of banks on account of different variables.Implications of the Study Nowadays. H3: There is no significant relation between gender and customers’ preference of banks. An Empirical Analysis of the Awareness and Satisfaction Level of Internet Banking Users with Respect to Demographic Profile 65 . Convenience sampling involves selecting sample respondents as per the convenience of the researcher. H4: There is no significant relation between gender and number of banks used. banks provide novel services/facilities in order to retain the existing customers and attract new ones. Convenience and judgment sampling techniques were adopted in the selection of the bank customers. Research Methodology In accordance with the objectives of the present study. The primary data was collected from 120 respondents. Data was collected from February to April 2011. Punjab National Bank (PNB) and Canara Bank among the public sector banks. This enables the banks to take important steps to improve the awareness level of the customers by using the less used/non-used sources of awareness. 1.3 100 20 40 6. an analysis done on the basis of income groups reveals that the dominating group using Internet banking belongs to the income group of 3-5 lakh. H8: There is no significant relation between gender and satisfaction level across public and private sector banks. H9: There is no significant relation between income and satisfaction level across public and private sector banks. Data Analysis and Interpretation The demographic profile of respondents under study is presented here and the results are discussed as per the hypothesis taken. The table depicts that 40% of the Table 1: Demographic Profile of Respondents Using Internet Banking Demographic Variables Gender Male Female Total Age Less than 30 years 30-40 years 40-50 years Above 50 years Total Income Level Upto 3 lakh 3-5 lakh 5-7 lakh 7-9 lakh Above Total 66 Public Sector Banks 50 6 56 24 18 4 10 56 12 22 – 14 8 56 Private Sector Banks 46 18 64 24 26 14 – 64 12 26 8 14 4 64 Total 96 24 120 48 44 18 10 120 24 48 8 28 12 120 Percentage 80 20 100 40 36. Demographic Profile of the Respondents Table 1 shows that in the gender response rate of survey.7 23. The table illustrates that 40% of the respondents are less than 30 years of age.H7: There is no significant relation between age and satisfaction level across public and private sector banks.7 15 8.3%). Similarly. Vol. followed by age groups of 3040 years (36.3 10 100 9 lakh The IUP Journal of Marketing Management. male respondents (80%) are four times more than the female respondents (20%). less than 30 years.. i.e. 2012 . No. A scrutiny of the age group shows that a majority of the respondents are young.7%). 40-50 years (15%) and above 50 years (8. The level of awareness and usage of Internet banking has also been discussed here. XI. 7 3. Analysis done on the basis of having accounts in different banks.3 6.4%) have account only in one bank and the remaining (16. i.0 18. followed by 23.7%) in HDFC and AXIS bank.7 20.3 5. 11.6%) have account in more than one bank. Table 2 shows the respondents’ choice of banks. 10% in PNB. Table 2: Tabular Presentation of Respondents’ Choice of Banks Bank Name PNB SBI Canara AXIS HDFC ICICI HDFC and AXIS HDFC and ICICI PNB and HDFC PNB and SBI SBI and ICICI Total Frequency 12 22 8 14 20 24 2 4 4 4 6 120 Percentage 10. 3.7% in Canara Bank.0 Results The Results of the hypotheses (mentioned earlier) are discussed below: Age and Customers’ Preference of Bank Table 3 presents the cross-tabulation between age and customers’ preference of banks. 3. Hence. 5% in two banks.3 3.3% in HDFC and ICICI. 16.3 3. SBI and ICICI.7 16. 10% respondents of above 9 lakh income group.7% in AXIS bank. 20% respondents of up to 3 lakh income group.3% respondents 7-9 lakh income group. An Empirical Analysis of the Awareness and Satisfaction Level of Internet Banking Users with Respect to Demographic Profile 67 .3% in PNB and SBI. and 3. the null hypothesis (H1) is rejected at 5% level of significance. Out of the total of 120 respondents.0 1. and 6. It shows that the factor age has significant effect on choice of a particular bank.0 100. followed by 18. and the least number of respondents (1.7 11. The table value of F is 2.3% in PNB and HDFC.3% in SBI..e.68 at 5% level of significance.total respondents belong to 3-5 lakh income group. reveals that a maximum number of respondents (83. 6. Calculated value is greater than table value at 5% level of significance (Table 4).7% in HDFC.7% respondents of 5-7 lakh income group. 20% have bank account in ICICI. 66) 0 2 (1.867 df 3 116 119 Mean Square 1.66) 2 (1.68 at 5% level of significance.222 F 6. the null hypothesis (H2) is accepted.34) 2 (1. The calculated value of F is less than table value at 5% level of significance (Table 6). 1. Vol. Therefore.66) 6(5) 44 40-50 Years 0 0 0 4 2 (1. 68 The IUP Journal of Marketing Management. 2012 .66) 2 (1. 0. Less Than 30 Years 10 (8. 30-40 years. XI.186 Sig.66) 0 0 0 0 0 0 0 0 10 Total 12 22 8 14 20 24 2 4 4 4 6 120 Table 4: ANOVA and F-Test for Age and Customers’ Preference of Bank Sum of Squares Between Groups Within Groups Total 4.001 Age and Number of Banks Used Table 5 depicts the cross-tabulation between age and number of banks used.66) 0 0 48 30-40 Years 2 (1.34) 6 (5) 6 (5) 6 (5) 6 (5) 10 (8.66) 6 (5) 0 2 (1. The table value of F is 2. 40-50 years and above 50 years. It shows that age does not depend on the number of banks used. The age of sample respondents was categorized into four classes—less than 30 years.747 29.66) 0 18 Above 50 Years 0 8 2 (1.66) 0 2 (1.373 0.119 25. No.Table 3: Cross-Tabulation Between Age and Customers’ Preference of Bank Age (Years) Bank Name PNB SBI Canara AXIS HDFC ICICI HDFC and AXIS HDFC and ICICI PNB and HDFC PNB and SBI SBI and ICICI Total Note: Values in brackets are %.66) 8 0 4 12 8 0 2 (1. The calculated value of F is more than the table value (Table 8). is rejected.92 at 5% level of significance. An Empirical Analysis of the Awareness and Satisfaction Level of Internet Banking Users with Respect to Demographic Profile 69 . Table 7: Cross-Tabulation Between Gender and Customers’ Preference of Bank Bank Name PNB SBI Canara AXIS HDFC ICICI HDFC and AXIS HDFC and ICICI PNB and HDFC PNB and SBI SBI and ICICI Total Gender Male 12 20 6 14 16 10 2 4 4 2 6 96 Female 0 2 2 0 4 14 0 0 0 2 0 24 Total 12 22 8 14 20 24 2 4 4 4 6 120 The table value of F is 3. the null hypothesis (H3). 0.989 16. there is a significant influence of gender on the preference of bank.253 Sig.330 0.146 F 2.977 17.Table 5: Cross-Tabulation Between Age and Number of Banks Used Age (in Years) Number of Banks Used Less than 30 One Bank More than One Bank Total 44 4 48 30-40 40-50 34 10 44 12 6 18 Above 50 10 0 10 Total 100 20 120 Table 6: ANOVA and F-Test for Age and Number of Banks Used Sum of Squares Between Groups Within Groups Total 0.967 df 3 116 119 Mean Square 0. Hence.086 Gender and Customers’ Preference of Bank Table 7 reveals the cross-tabulation between gender and customers’ preference of banks. there is no significant relation between income level and customer’s preference of bank. there is no significant relation between gender and number of banks used. Hence. is accepted. 1.667 17. the null hypothesis (H4). the null hypothesis (H5).840 Sig. Income Level and Number of Banks Used Table 13 illustrates the cross-tabulation between income level and number of banks used. 70 The IUP Journal of Marketing Management.967 df 1 118 119 Mean Square 0. 0. No.004 Sig. XI. The calculated value of F is less than the table value (Table 10). Table 9: Cross-Tabulation Between Gender and Number of Banks Used Number of Banks Used One Bank More than one Bank Total Age (in Years) Male 78 18 96 Female 22 2 24 Total 100 20 120 The Table value of F is 3.017 Gender and Number of Banks Used Table 9 shows the cross-tabulation between gender and number of banks used. 2012 . 7-9 lakh per annum and above 9 lakh per annum.458 29. Hence.408 0.300 0.408 28. Vol.867 df 1 118 119 Mean Square 1.160 Income Level and Customers’ Preference of Bank Table 11 presents the cross-tabulation between income level and customers’ preference of banks. Table 10: ANOVA and F-Test for Gender and Number of Banks Used Sum of Squares Between Groups Within Groups Total 0. Income level was categorized into five levels—less than 3 lakh per annum. 0. 3-5 lakh per annum.150 F 2. is accepted.Table 8: ANOVA and F-Test for Gender and Customers’ Preference of Bank Sum of Squares Between Groups Within Groups Total 1.241 F 5. The calculated value F is less than the table value (Table 12).300 17.92 at 5% level of significance.45 at 5% level of significance. The table value is 2. 5-7 lakh per annum. 583 29.867 df 4 115 119 Mean Square 0.571 0.056 Table 13: Cross-Tabulation Between Income Level and Number of Banks Used Income Level (per annum) Number of Banks Used Less than 3 lakh One Bank More than One Bank Total 22 2 24 3-5 lakh 44 4 48 5-7 lakh 8 0 8 7-9 lakh 20 8 28 Above 9 lakh 6 6 12 100 20 120 71 Total An Empirical Analysis of the Awareness and Satisfaction Level of Internet Banking Users with Respect to Demographic Profile .380 Sig. 0.240 F 2.Table 11: Cross-Tabulation Between Income Level and Customers’ Preference of Bank Age (in Years) Bank Name PNB SBI Canara AXIS HDFC ICICI HDFC and AXIS HDFC and ICICI PNB and HDFC PNB and SBI SBI and ICICI Total Less Than 3 lakh 4 4 2 2 4 6 0 0 0 2 0 24 3-5 lakh 6 6 6 4 6 16 0 0 0 0 4 48 5-7 lakh 0 0 0 4 2 2 0 0 0 0 0 8 7-9 lakh 2 8 0 2 8 0 2 2 2 0 2 28 Above 9 lakh 0 4 0 2 0 0 0 2 2 2 0 12 12 22 8 14 20 24 2 4 4 4 6 120 Total Table 12: ANOVA and F-Test for Income Level and Customers’ Preference of Bank Sum of Squares Between Groups Within Groups Total 2.283 27. 72 The IUP Journal of Marketing Management. Table 16 shows that calculated value of F (0. there is no relation in age and satisfaction level of respondents of private sector banks. Table 14: ANOVA and F-Test for Income Level and Number of Banks Used Sum of Squares Between Groups Within Groups Total 3. is accepted. No.038 14. Therefore.45 at 5% level of significance. 2012 . XI.250 0.851 Sig.130 F 5. Therefore.751 13.The table value is 2. the null hypothesis (H7). Vol. is accepted. 0. the cross-tabulation of whichis shown in Table 15. It shows that the factor income level has significant influence on the number of banks used.178 13.988 Sig.281) is less than the table value (3.>50 50 4 10 14 – – – Total 24 40 64 54 66 120 Total >50 Total <30 4 6 10 30 26 56 12 12 24 Table 16: ANOVA for Age and Satisfaction Level of Respondents from Public Sector Banks Sum of Squares Between Groups Within Groups Total 0. 1.760 0. Therefore.76) at 5% level of significance.988) is less than the table value (2. The calculated value of F is greater than table value at 5% level of significance (Table 14).000 Age and Satisfaction Level The sample respondents have been classified into four categories of age to assess their satisfaction level.929 df 3 52 55 Mean Square 0.967 df 4 115 119 Mean Square 0. the null hypothesis (H7).929 17.253 F 0. the null hypothesis (H6) is rejected. there is no relation in age and satisfaction level of respondents of public sector banks.406 The calculated value of F (1.15) at 5% level of significance (Table 17). Table 15: Cross-Tabulation Between Age and Satisfaction Level of Public and Private Sector Banks Satisfaction Level Age (in Years) Respondents of Public Sector Banks <30 Satisfied Not Satisfied Total 16 8 24 3040 8 10 18 4050 2 2 4 Age (in Years) Respondents of Private Sector Banks 3040 8 18 26 40. 0. 0) at 5% level of significance. Table 19: ANOVA for Gender and Satisfaction level of Respondents from Public Sector Banks Sum of Squares Between Groups Within Groups Total 0.281 Sig.285 Gender and Satisfaction Level Table 18 shows the cross-tabulation between gender and satisfaction level of respondents of both the sectors.000 df 2 61 63 Mean Square 0. there is no relation in gender and satisfaction level of respondents of private sector banks. The respondents are classified into two categories—male and female to assess their satisfaction level.236 F 1. the null hypothesis (H8). 0. there is no significant relation between gender and satisfaction level of respondents from public sector banks.Table 17: ANOVA for Age and Satisfaction Level of Respondents from Private Sector Banks Sum of Squares Between Groups Within Groups Total 0.0) at 5% level of significance. 0.302 0.256 F 0.115 13. Therefore. Therefore.396 15. Table 18: Cross-Tabulation Between Gender and Satisfaction Level of Public Sector Banks and Private Sector Banks Satisfaction Level Satisfied Not Satisfied Total Gender (Public Sector Banks) Males 26 24 50 Females 4 2 6 Total 30 26 56 Gender (Private Sector Banks) Males 18 28 46 Females 6 12 18 Total 24 40 64 54 66 120 Total The calculated value of F (0.180) (Table 20) is less than the table value (4.115 0.813 13. is accepted. the null hypothesis (H8).450) (Table 19) is lesser than the table value (4.450 Sig. An Empirical Analysis of the Awareness and Satisfaction Level of Internet Banking Users with Respect to Demographic Profile 73 .505 The calculated value of F (0.929 df 1 54 55 Mean Square 0. is accepted.604 14. 234 F 2.180 Sig.000 df 1 62 63 Mean Square 0.Table 20: ANOVA for Gender and Satisfaction Level of Respondents from Private Sector Banks Sum of Squares Between Groups Within Groups Total 0.890 15. 0. Therefore. 0.186 13. 0. there is no relation in income and satisfaction level of respondents of public sector banks. Therefore.957 15.414 Sig. No.478) (Table 22) is less than the table value (2. 2012 .53) at 5% level of significance.673 Income and Satisfaction Level Table 21 reveals the cross-tabulation between income and satisfaction level.742 12. Table 22: ANOVA for Income and Satisfaction Level of Respondents from Public Sector Banks Sum of Squares Between Groups Within Groups Total 1.527 0.414) (Table 23) is less than the table value (2.043 0.581 0. the null hypothesis (H9).043 14.000 The IUP Journal of Marketing Management. Table 23: ANOVA for Income and Satisfaction Level of Respondents from Private Sector Banks Sum of Squares Between Groups Within Groups Total 74 df 4 59 63 Mean Square 0.478 Sig. the null hypothesis (H9).76) at 5% level of significance.241 F 0. XI.110 12. is accepted.071 The calculated value of F (2. is accepted. Vol. Table 21: Cross-Tabulation Between Income and Satisfaction Level of Public Sector Banks and Private Sector Banks Satisfaction Level Satisfied Not Satisfied Total Public Sector Banks <3 3-5 10 2 12 8 14 22 5-7 7-9 >9 Total – – – 8 6 14 4 4 8 30 26 56 <3 0 12 12 Private Sector Banks 3-5 5-7 7-9 >9 Total 12 14 26 4 4 8 6 8 14 2 2 4 24 40 64 Total 54 66 120 The calculated value of F (2. 1.059 2. there is no relation in income and satisfaction level of respondents of private sector banks.929 df 3 52 55 Mean Square 0.218 F 2. followed by 10. of Respondents 66 % 55 Analysis of Respondents’ Awareness and Usage of Different Internet Banking Services Table 25 shows that in the case of public sector banks as well as private sector banks. credit/debit card. 100% respondents are aware of opening an account. stopping payment of lost/stolen checks. issuing an account statement.38 0 12 0 10 0 Public Sector Banks No.72% respondents from public sector banks and 9.Analysis of Awareness Level of Internet Banking Users Table 24 reveals that bank officials/employees have been found to be the most important source of awareness regarding Internet banking in both the sectors. credit/debit card. recharge mobile phones. product information and downloading application forms through Internet banking. of Respondents 32 % 50 Total No. receiving An Empirical Analysis of the Awareness and Satisfaction Level of Internet Banking Users with Respect to Demographic Profile 75 .38 31. foreign currency accounts. Only 3. Table 24: Tabular Presentation of Sources of Awareness for Internet Banking Sources of Awareness Bank Officials/ Employees Print Media TV and Radio Online Advertisement Friends/Relatives Others Total 2 14 0 56 3. No respondent considers TV or radio as the source of awareness of Internet banking in both the sectors.71% respondents in the case of public sector banks and 50% respondents from private sector banks consider bank officials/employees as the most influential source of awareness of Internet banking.24 0 100 8 34 0 120 7 28 0 100 6 0 10. removing ‘stop check’ request.57 25 0 100 6 20 0 64 9. fund transfers. of Respondents 34 % 60.57% respondents of public sector banks and 9. online trading. whereas 25% respondents of the public sector banks and 31. foreign transfers.38% respondents from private sector banks who consider print media as the source of awareness.38% respondents of private sector banks consider online advertisement as the source of awareness of Internet banking. Data collected from primary sources reveals that 60.72 0 6 0 9. receiving alerts. It is also found that 100% usage of services through Internet banking in the case of public sector banks as well as private sector banks is for issuing an account statement.71 Private Sector Banks No.24% respondents of private sector banks regard friends/ relatives as the source of awareness of Internet banking. redemption of term deposit account. No.6 100 78. 1.6% for ordering check book.3% respondents use Internet banking for downloading application forms. In the case of private sector banks. charity payment and foreign currency accounts.6 87 100 21. Payments/ Transfers Inter-Account Fund Transfer Fund Transfer to Utility Accounts 76 The IUP Journal of Marketing Management. No.4% respondents are using Internet banking for interest rate enquiry. Only 21.alerts. demat holding and purchase of investment. Only 3. 60% for stopping payment of lost checks and 56% for removing stop check payment.9 58 53 100 71.8 0 100 100 Make Use of 78. 59. XI. In the case of public sector banks. Table 25: Tabular Presentation of Respondents’ Awareness and Usage of Internet Banking Services S. Application/ Requests For Opening an Account (Saving. % of Respondents from Public Sector Banks Aware of 1.4% for online trading. Current.3 100 100 .9% respondents use it for ordering check book and for redemption of term deposit.4% for online trading. 71. followed by 87% for standing order instructions.6% respondents are using Internet banking services for application for loans and loan account details. 75% respondents use Internet banking for opening an account.4 3. 89. 2012 Services Offered % of Respondents from Private Sector Banks Aware of 100 100 100 100 100 100 100 85 100 100 100 100 100 Make Use of 75 100 71.9 75 100 18. fund transfers. opening an account and redemption of term deposit account. Vol.6 60 56 100 78. 71. 78. TDS enquiry. Fixed) Issue an Account Statement Order Check Books Stop Payment of Lost/Stolen Checks Remove ‘Stop Check’ Request Credit/Debit Card Redemption of Term Deposit Account Standing Order Instructions Receive Alerts Foreign Currency Accounts Loan 2. standing order instructions and downloading application forms. recharging mobile phones and seeking product information.6 100 100 100 100 100 100 100 100 100 90 100 100 64. Table 25 (Cont.4 71.1 100 15.5 31.8 100 Make Use of 100 % of Respondents from Private Sector Banks Aware of 100 Make Use of 100 S. Only 15.4 60.6% of the total respondents use Internet banking services for foreign transfers.4 3. Enquiry/ Seeking Information Product Information Download Application Forms Interest Rate Enquiry for Different Deposits TDS Enquiry Loan Account Details 4. Hence.4 21.1 100 100 62.6 18.2% respondents use Internet banking for interest rate enquiry and TDS enquiry. Findings and Conclusion An in-depth study of Internet banking users was conducted and some of the findings have been presented in Table 26.4 100 89. No. Only 18.3 100 17.8% respondents use Internet banking for charity payment and enquiry of foreign currency accounts. 58% for stopping payment of lost checks and 53% for removing stop check payment.6 71.4 100 100 78. it can be concluded that a maximum number of respondents in both the sectors are aware of the different Internet banking services and very few services are left unused. The number of respondents is zero for loan enquiry and loan account details in the case of private sector banks.9 21. Online Trading/ Investment Online Trading Demat Holdings Purchase of Investment 46.4 59.4 59.4 71.4 71.4 100 100 50 100 75 31.) % of Respondents from Public Sector Banks Aware of Fund Transfer to Other Local Bank Account Recharge Mobile Phones Foreign Transfer Charity (Online Payment of Charity) 3.2 100 100 89.7 100 96. ‘age and satisfaction level’ and ‘income and satisfaction level’ of the An Empirical Analysis of the Awareness and Satisfaction Level of Internet Banking Users with Respect to Demographic Profile 77 . Only 31. It has also been found that statistically there is no relation between ‘gender and satisfaction level’.3 21.4 50 53.4 100 100 46. Services Offered demat holding and purchase of investment.2 0 59. Therefore. No. Notebaert J F and Mendes L A (2010). 1. 3. print media. loan interest rate enquiry on deposits. “Number of Web Banking Soars to 17 Million”. 7. 2. 78 The IUP Journal of Marketing Management. It is also found that there is a high level of awareness and usage of most services through Internet banking. 6. Vol. 3. Thus. TV and radio can also be used to make the people aware of Internet banking facilities in both the sectors. preference of banks There is no significant relation between age and number of banks used There is no significant relation between gender and customers’ preference of banks There is no significant relation between gender and number of banks used There is no significant relation between income and customers’ preference of banks There is no significant relation between income and number of banks used Rejected Accepted Accepted Rejected Accepted Null Hypotheses There is no significant relation between age and customers’ Results Rejected respondents of public sector banks as well as private sector banks. Only bank officials/employees have been found to be the most influential source of awareness (55%) regarding Internet banking. Attitudes and Level of Satisfaction”. except those related to foreign exchange transactions.Table 26: Findings of the Study S. No. November 9.0 in Customer Service in the Sector of Online Banking: A Comparative Analysis of the American and French Websites . Computer Weekly. The Quality of Interaction from Email to Web 2. Assadi D. 2. Vol. 2012 . J Bibliography 1. The satisfaction level can be improved with some more efforts of the banks by providing Internet banking services as per the users’ expectations. “An Analytical Study of the Business Customers’ Awareness. Institute of Banking Studies. No. 4. 2. XI. it is believed that banks must try to find out the specific needs of different customers so that pertinent services as per their expectations can be provided to attract customers and retain the market share. Ashford W (2007). 5. Research Report. 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Name: ______________________________________________________ 2.......... ................................................................................................................................... 8..................... please specify An Empirical Analysis of the Awareness and Satisfaction Level of Internet Banking Users with Respect to Demographic Profile 81 ..................................... Current Age (Years) Less than 30 Above 50 30-40 40-50 4.. Gender: Male Female 3.....Appendix Questionnaire Section A 1......................................................... Marital Status: Income Level: Single Upto 3 lakh 5-7 lakh Above 9 lakh Married 3-5 lakh 7-9 lakh Section B 6.. 5....... How many banks are you using currently for Internet banking services? One Bank (b) More than one bank With which banks are you contacting with? ................................... What are the sources of awareness about Internet banking? Please mark against the relevant box: Bank Officials/Employees Print Media TV and Radio Online Advertisement Friends/Relatives Others.. No.) 9. XI. Enquiry/Seeking Information Product Information Download Application Forms Interest rate enquiry for different deposits TDS enquiry Loan account details 4. 1. fixed) Issue an Account Statement Order Cheque Books Stop Payment of lost/stolen cheques Remove 'stop cheque' request Credit/debit card Redemption of term deposit account Standing order instructions Receive alerts Foreign currency accounts Loan 2. Aware of Services Offered Yes No Make Use of Yes No Application/Requests for Opening an Account (saving. Are you aware of and make use of the following services through Internet banking? (Tick against relevant boxes) S. 1. Vol. Payments/Transfers Inter-account fund transfer Fund transfer to Utility accounts Fund transfer to other local bank account Recharge mobile phones Foreign transfer Charity (online payment of charity) 3. Online Trading/ Investment Online trading Demat holdings Purchase of Investment 82 The IUP Journal of Marketing Management. 2012 .Appendix (Cont. No. current. Appendix (Cont.) 10. ________________________________________________________________________________________________________ ________________________________________________________________________________________________________ Thanks for your cooperation and sparing your precious time Signature:_____________________ Date:__________________________ Reference # 03J-2012-02-03-01 An Empirical Analysis of the Awareness and Satisfaction Level of Internet Banking Users with Respect to Demographic Profile 83 . Any suggestions from your side. Are you satisfied with Internet banking of your bank? (a) Yes (b) No Section C 11. Further reproduction prohibited without permission. .Reproduced with permission of the copyright owner.