Factors affecting the adoption of internet banking in lebanon

International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online),

Volume 6, Issue 3, March (2015), pp. 75-86 © IAEME

75

FACTORS AFFECTING THE ADOPTION OF INTERNET

BANKING IN LEBANON

Ali Sankari1, Khalil Ghazzawi

2, Safwan El Danawi

3, Sam El Nemar

4 Badih Arnaout

5

1Professor of Finance at the Lebanese University, faculty of Business, Branch 3, Deputy

Branch Manager at Lebanese Swiss Bank, Lebanon

2Professor of Management at the Lebanese University, faculty of Business, Branch 3

3Professor of Management at the Lebanese University, Faculty of Business, Branch 3,

Chief of the Audit Department at Central Bank of Lebanon, Tripoli Branch

4Assisting Dean of Business, Lecturer of Marketing, Lebanese International University

4Director of the American University of Technology, Tripoli Branch, Lebanon

ABSTRACT

The purpose of this research is to examine the factors affecting the adoption of internet

banking in Lebanon by using several variables which are taken from three different models, the

Technology Acceptance Model (TAM), the Theory of Planned Behavior (TPB), and the Theory of

Reasoned Action (TRA). These variables are intention, attitude, perceived behavioral control, trust,

perceived usefulness, perceived ease of use, subjective norms. The results showed that that attitude

has positive and significant impact on intention. Moreover, perceived behavioral has positive and

significant impact on intention. Also, subjective norms have positive and significant impact

intention. In addition, trust has positive and significant impact on intention, attitude, perceived

behavioral control and subjective norms. Furthermore, perceived ease of use has positive and

significant on perceived usefulness, trust and attitude. Finally, perceived usefulness has positive and

significant impact on attitude and intention.

Key words: Online Banking, Technology Acceptance Model, Theory of Planned Behavior, Theory

of Reasoned Action, Costumer of E-banking.

1. LITERATURE REVIEW

The global technological advancement affected the business environment worldwide, for

example, the use of internet for executing business deals increased; thus, affecting the banking sector

INTERNATIONAL JOURNAL OF MANAGEMENT (IJM)

ISSN 0976-6502 (Print)

ISSN 0976-6510 (Online)

Volume 6, Issue 3, March (2015), pp. 75-86

© IAEME: http://www.iaeme.com/IJM.asp

Journal Impact Factor (2015): 7.9270 (Calculated by GISI)

www.jifactor.com

IJM

© I A E M E



76

in the field of technology and innovation. The reach of internet banking is slow for the developing

countries relative to that of the developed countries due to the low level of education, poor economy

and infrastructure of the developing countries. In addition, trust effects the adoption and acceptance

of internet banking. This thesis describes internet banking and shows its benefits to the bank and

customers. Then, it reports the inputs of the research that reflect on the adoption of online banking in

Lebanon, and suggests several aspects that are concerned in the user's acknowledgement of internet

banking.

Technological innovation in banks focused on distance-based technology in 1980’s. Clients

supported the benefits of this innovation since they were seeking a new system that allows them to

finalize their banking transactions without physically visiting the bank. The procedures of this

innovation could be done by several techniques as PC Banking, Online Banking, Co-Banking, TV

Banking and cell phone Banking (Toufaily et al., 2009).

Online banking or E-Banking is both used as an addition. Hertzum et al. (2004) described E-

Banking as web-based financial institution. In other words, E-Banking stands for the banking

functions, which is performed over the World Wide Web. However, the United Countries Meeting

on Trade and Development gave more extensive and well-established meaning. The bank delivers a

new set of figures for personal exchange classes.

Sometimes, the bank provides personalized application. This application can also be utilized

off-line, like planning the deal purchases off-line and then making the actual use the internet. The

consumer obtains all figures independently, mainly by mail. (Mia & al., 2007). According to Daniel

(1999), online banking is described as the provider of information or services by a bank to its

customers via pc, phone or cell phone. Also, he describes that E-Banking has three disparate means

of delivery, phone, laptop or pc, and the internet. E-Banking is a high-order concept which contains

various distribution canals. It should be noted that E-Banking is more than a deal via the internet.

The general form nowadays of E-banking is the main channel for online banking utilized via laptop

or pc (Karjaluoto et al., 2002). Moreover, online banking allows consumers to access their banking

records to execute financial transactions. According to Sathye (1999) at a sophisticated level, internet

banking refers to the transactional online economical, because it includes the specification of

facilities such as retrieving records, transfer of funds, and buying economical products or services.

The terms internet banking and online banking refer to the same things. Online banking, unlike

person-to-person banking, is available 24 hours a day, 7 days a week. Online banking offers several

advantages, such as providing easy means to keep track of your check-book, transferring money

between accounts, and even paying bills online. Polatoglu and Ekin (2001) specify that online PC

expansion has improved in a fast pace in the USA. Wang (2002) suggests that users are able to use

the bank’s software or the ISP (internet service provider). This permits bank customers to access

their accounts from a remote location through an online connection. Thus, customers will be able to

execute their own transactions through the banks’ website without visiting the branch or the ATM

(Automated Teller Machine.)

A- Adoption of online Banking in Lebanon

Reviews reveal that roughly 97% of customers who create on-line dealings will continue

implementing this type of actions, with a majority showing that they plan to considerably increase

their variety of dealings over the next 12 months (Ernst & Young, 2012). In general, customers are

pleased with e-commerce as an efficient, fast, and less expensive way of performing, and their online

buying is growing different ranges of goods and solutions. (Ghazzawi, 2014)

Lebanese banks offer internet banking to their customers, yet the level of innovation for

online banking differs between them. To relief the clients that the internet banking is secured, banks

provide security statements on their websites. For example, Byblos bank provides on its website the

following security titles with explanations for their clients, unique log on details, firewalls,



77

scrambled information, visual reassurance, and time out facility. Most of the Lebanese banks such as

Bank Audi, Bank Byblos, Blom Bank, Fransabank…etc, provide online services including internet

services and mobile services that allow the clients to execute banking transactions, view their

account balances, transfer funds within their account or from an account to another, get an online

statement for the account, settle payments, view loan simulator.

Bank Audi released an e-commerce platform to guide Lebanese merchants' marketplace and

to develop at a wider scale. www.emall.me is a shopping platform with an e-payment option. It links

local retailers, SMEs, and independent merchants, with cardholders worldwide.

In accordance to Bank Audi the introduction of emall places the necessary fundamentals for

stimulating e-commerce locally. Bank Audi is showing Lebanese merchants that we export your

goods worldwide, and the bank is revealing for its individual clients that the globe at their reach.

Through email, merchants will be able to display their products on their web page, under the email

umbrella, whilst customers will be able to buy these goods online simply in any e-commerce

website. The platform takes all types of payment cards (Visa, MasterCard, and American Express)

and assumes the safest measures of purchase security (verified by Visa and MasterCard Secure

Code). Bank Audi provides logistic alternatives through deals with mail companies that manage the

transfer of merchandises from the shop to the customer.

B- Benefits to Banks

According to Robinson (2000), the price of an online transaction is much lower than the price

of a face-to-face branch transaction. He assures that internet banking enhances the relationship

between the bank and the client due to several factors, Robinson explains that when the bank is

presenting services and products that the client uses at home, office or cell phone, the bank is

creating client loyalty. Banks achieve better cross-channel efficiency and overall performance when

using internet banking. Moreover, online banking improves the need for an expected approach to

development and process management, particularly when developing new distribution programs into

current frameworks. Burns (2000) indicates that the online banking will not substitute other

distribution programs, but will offer flexibility and opportunity for a better service.

Banks achieve better cross-channel efficiency and overall performance when using internet

banking. Moreover, online banking improves the need for an expected approach to development and

process management, particularly when developing new distribution programs into current

frameworks.

C- Benefits for customers

Online banking benefits customers is several ways. First of all, it provides a wide range of

services available to clients that are not provided at branches. The major benefit of online banking is

that it is either inexpensive or free. (Sathye, 1999)

Second, internet banking is not constrained by time or place and is also likely to alter in

response to clients' requirements (Brogdon, 1999). Online banking has the benefits that the client

reduces down the visit to the bank’s branch; thus, online banking helps you as a client to save not

only money but also time. Third, online banking offers comfort and availability, and has a favorable

effect on client care.

Thus, customers can handle their banking transactions when they want, and they canenjoy

more comfort while getting it executed at lower costs (Mols, 1998).

D- Adoption of New Technologies

Several theoretical methods have been used to study the factors of individual acceptance and

use of technological development (Venkatesh et al.. 2003). Research concentrates on the factors that

determine the clients behavior (intention to look at a latest technology) or on the activities (actual



78

applying of new technology). The most crucial parts of research are in harmony with the Theory of

Reasoned Action (TRA) (Fishbein & Ajzen, 1975) on the Theory of Planned Behavior (TPB)

(Ajzen. 1985) and on the Technology Acceptance Model (TAM) (Davis, 1989).

Another research reflects on applying new technology from the perception of the Innovation

Diffusion Theory (Rogers, 1983). Rogers (1983) suggests a design of spreading developments that

concern five solutions attributes assumed to influence client approval. These items are relative

advantage, trial-ability, compatibility, complexity, and observe-ability. To start with, relative

advantage symbolizes the stage in which clients understand new services as different, as and better

than other products and services. Trial-ability symbolizes the capability of clients to research with

new development and asses its advantages. Clients can try out the innovative technology and

services before actually buying (Kolodinsky et al., 2004)

2. THE RESEARCH APPROACH

This research illustrates and examines the extension of two theories. The Technology

Acceptance Model (TAM) (Davis, 1989) and the Theory of Planned Behavior (TPB) (Ajzen, 1991)

and Trust. It studies the factors that affect the adoption and acceptance of the technological

advancement and internet system in the banking sector in Lebanon.

Internet banking is known to be an innovative technology which is related to organizational

and social aspects; therefore, authority and knowledge play a strong role in presenting the new

innovation and in learning about the technological acceptance theory (TAM) related to internet

banking. Then, this model will be linked with Trust to learn about the relationship between them.

After that, these models will be studied with the TPB model consisting subjective standards and

perceived behavioral control to verify the acceptance of internet banking.

3. THE RESEARCH BACKGROUND

Considering traditional methods, banks deliver their goods and services to their potential

customers only through physical bank branches. However, the bank transactions have altered with

the initiation of the online world, fast technical evolutions, globalization and economical

deregulations, liberalization and consolidation of the markets (Jeevan, 2000; Mia et al., 2007).

Nowadays, businesses have to change their traditional means of operation due to this technological

advancement. As a result, banks became much more aggressive (Thornton & White, 2001). Banks

realized that the traditional banking methods make it difficult to compete due to price aspects; thus,

the banks started seeking new opportunities to improve their revenues. It is also clear for the banks

that their largest expenses are branch network maintenance and recruitment. Banks began to focus on

non-price issues such as submission as a substitute strategy for difference, gaining aggressive

benefits and price cutting (Daniel, 1999).

The accelerating aggressive environment has led to the superior submission strategies. These

strategies focus on cooperation and delivery methods for items customers' order, associated with

providing these items to the clients with dynamic benefits to the banks in the marketplace. Thus,

clients confront more convenience and accessibility as reflected in longer division opening hours and

a rise in the option of submission mechanisms. Therefore, banks globally are taking initiatives to set

in position for more cost-effective substitute support submission systems.

Therefore, banks provide their clients with increased channel choices; reach out customers

through many ways. As such, ATMs, telephone, online and wireless programs are now available to

the customers use to complete their banking transactions in addition to traditional banking. Banks

cannot reduce the programs offered to customers as they have become familiar to them and are

developing a wide range of choices (Durkin, 2004).



79

4. THE RESEARCH MOTIVATION

1- Internet banking is an appealing topic to study specially that new strategies are launched by

banks to push and persuade customers to adopt, use and accept internet banking.

2- Factors affecting the adoption of internet banking have been studied in Middle East countries,

few studies were explored in Lebanon.

3- This topic will help bankers learn about the Lebanese customer's opinion regarding internet

banking and their intention to adopt and accept innovation

4- This topic will help banks promote the use of internet banking in the proper way to reach its

clients.

5. THE RESEARCH OBJECTIVES

The purpose of this research is to identify the factors affecting the adoption of internet banking

in Lebanon and to link these factors to customers' acceptance of this innovation. The principal

objectives of the study are:

1- Study the adoption of internet for banking transactions by Lebanese individuals and merchants.

2- Measure data related to the customer's views and attitudes concerning internet banking, extend

and validate the relationship between the factors that move customers to adopt internet banking

and accept this service.

3- Discuss results of the study to assist in expanding the use of internet banking and increasing

the reach of acceptance by highlighting on the problems.

6. THE RESEARCH QUESTIONS

This study attempts to answer the following questions:

1. What are the factors affecting the adoption of internet banking by Lebanese consumers?

2. What is the role of social influence represented by trust in acceptance of internet banking in

Lebanon?

7. METHODOLOGY

Quantitative approach was used in this paper to test the four hypotheses where primary data

was collected from the surveys filled by bank customers; then qualitative research was use to discuss

and analyze the results. 210 completed questionnaires were distributed to bank customers using

random sampling. The questionnaire was divided into two sections: part one describes about

respondents’ demographic and part two aims to identify level of consumer satisfaction and

perception in internet banking adoption includes importance of intention to use internet banking,

attitude toward internet banking, perceived behavioral control, perceived ease of use, perceived

usefulness, trust and subjective norms. The five point Likert scale ranging from 1-strongly disagree

to 5- strongly agree was used for the questions to indicate a degree of agreement or disagreement

with each of a series of statements related to the stimulus objects. The data was analyzed by

examining the distribution of responses based on SPSS frequencies, percentages, charts, regression.



80

8. DATA ANALYSIS

Variable Reliability

All variables are reliable since they exceed 0.70, signifying that they are reliable as shown in

the table below:

Table 1: Variable Reliability Variable Reliability

Intention 0.971

Attitude 0.965

Perceived Behavioral Control 0.906

Trust 0.912

Perceived Usefulness 0.958

Perceived Ease of Use 0.970

Subjective Norms 0.716

Descriptive Statistics

The table shows the mean and standard deviation for the variables, the standard deviation for

the variables range between 1.095 and 1.289 which indicates the normality of distribution of the

sample.

Table 2: Descriptive Statistics Descriptive Statistics

N Minimum Maximum Mean Std. Deviation

Intention 210 1 5 2.59 1.208

Attitude 210 1 5 2.59 1.208

Perceived Behavioral Control 210 1 5 2.66 1.299

Trust 210 1 5 2.92 1.247

Perceived Usefulness 210 1 5 2.50 1.095

Perceived Ease of Use 210 1 5 2.72 1.125

Subjective Norms 210 1 5 2.96 1.221

Valid N(list wise) 210

Correlation Analysis

Intention is highly correlated with attitude, perceived behavioral control, trust, perceived

usefulness, perceived ease of use and subjective norms as the results of the 2-tailed significance

levels of all these variables, that are supposed to be the factors affecting the adoption of internet

banking are remarkably at 0.01.

• Attitude is highly correlated with intention, perceived behavioral control, trust, perceived




• Perceived behavioral control is highly correlated with intention, attitude, trust, perceived



banking are remarkably at 0.01. Trust is highly correlated with intention, attitude, perceived

behavioral control, perceived usefulness, perceived ease of use and subjective norms as the results of

the 2-tailed significance levels of all these variables, that are supposed to be the factors affecting the

adoption of internet banking are remarkably at 0.01.



81

• Perceived usefulness is highly correlated with intention, attitude, perceived behavioral

control, trust, perceived ease of use and subjective norms as the results of the 2-tailed significance



• Perceived ease of use usefulness is highly correlated with intention, attitude, perceived

behavioral control, trust, perceived usefulness and subjective norms as the results of the 2-tailed

significance levels of all these variables, that are supposed to be the factors affecting the adoption of

internet banking are remarkably at 0.01.

• Subjective norms is highly correlated with intention, attitude, perceived behavioral control,

trust, perceived usefulness and perceived ease of use as the results of the 2-tailed significance levels

of all these variables, that are supposed to be the factors affecting the adoption of internet banking

are remarkably at 0.01.

Regression Analysis

First Hypothesis

H0= Attitude has positive and significant impact on intention.

H1= Attitude does not have impact on intention.

Table 4: R Square for attitude on intention Model Summaryb

Model R R

square

Adjusted R

square

Std. Error

of the

estimate

Change Statistics Durbin-

Watson R

Square

change

F change df1 df2 Sig. F

change

1 .989a .977 .977 .183 .977 8909.465 1 208 .000 1.137

a. Predictors:(Constant),Intention

b. Dependent Variable: Attitude

The relation between attitude and intention is shown in the tables were R square is 0.977 that

is greater than 0.85 which means that the relation is highly significant and that 97.7% of the variation

in intentions is explained by attitude of the customer. R square is translated into F-significant which

is less than 0.05 indicating that there is high relation between attitude and intention.

Also t significant is 0 which is also below 0.05 assuring the strong relation between the

dependent and independent variable. This proves that attitude has significant impact on intentions for

adopting internet banking. Thus, H0= Attitude has positive and significant impact on intention.

Second Hypothesis

H0= Perceived behavioral has positive and significant impact on intention.

H1= Perceived behavioral control does not have significant impact on intention.

Table 5: R Square for perceived behavioral control Model Summaryb

Model R R

square

Adjusted R

square

Std. Error

of the

estimate


Watson R

Square

change

F change df1 df2 Sig.F

change

1 .968a .938 .937 .322 .938 3134.825 1 208 .000 .383





82

Moving on to the perceived behavioral control, the following regression tests the significance

of the relation between it and intentions, the tables show that the relation is significant as R square is

0.983, since it is greater than 0.85, which is very high. This means that 98.3% of the variation in

intentions is explained by the perceived behavioral control. R square is explained by the F significant

which is equal to 0, thus it is below 0.05 which makes the relation between perceived behavioral

control and intention significant. Not to forget that t significant is also below 0.05. Thus, Perceived

behavioral control has positive and significant impact on the intentions to adopt internet banking.

This proves H0= Perceived behavioral control has positive and significant impact on intention.

Third Hypothesis

H0= Subjective norms have positive and significant impact on intention.

H1= Subjective norms do not have significant impact on intention.

Table 6: R Square for subjective norms Model Summaryb

Model R R

square

Adjusted R

square

Std. Error

of the

estimate


Watson R

Square

change


change

1 .933 .871 .871 .439 .871 1408.429 1 208 .000 .189



As for the effect of subjective norms on intention to use internet banking, the regression

shows that the variables are significant as R square is equal to 0.871 which is greater than 0.85 thus

the relation between the variables is significant and 87.1% of the variation in intentions is explained

by the subjective norms. R square is translated into F significant which is equal to 0, that is less than

0.05 indicating the significance of the variables and that there is a relationship between them. Thus,

subjective norms have positive and significant impact on intentions. In conclusion, H0= Subjective

norms have positive and significant impact on intention.

Fourth Hypothesis

H0= Trust has positive and significant impact on intention, attitude, perceived behavioral control and

subjective norms.

H1= Trust does not impact intention, attitude, perceived behavioral control and subjective norms.

Table 7: R Square for Trust Model Summaryb

Model R R

square

Adjusted R

square

Std. Error

of the

estimate


Watson R

Square

change


change

1 .940a .883 .881 .429 .883 386.661 4 205 .000 .185



The following regression tables study the relationship between trust which is the dependent

variable and the independent variables: intention, attitude, perceived behavioral control and

subjective norms. The tables show that R square is 0.883 which is greater than 0.85 which means

that the relation between the variables is significant and that 88.3% of the variation in intention,

attitude, perceived behavioral control, and subjective norms explain trust. This result is translated to



83

F significant that is equal to 0 which is less that 0.05 indicating that the relation is significant. This

means that H1= Trust does not impact intention, attitude, perceived behavioral control and subjective

norms.

Fifth Hypothesis

H0= Perceived ease of use has positive and significant impact on perceived usefulness, trust and

attitude.

H1= Perceived ease of use does not impact perceived usefulness, trust and attitude.

Table 8: R Square for Ease of Use Model Summaryb

Model R R

square

Adjusted R

square

Std. Error

of the

estimate


Watson R

Square

change


change

1 .967a .935 .934 .288 .935 991.037 3 206 .000 .267



The regression results show that R square is square to 0.935 which is greater than 0.85 thus,

the relation between the variables is highly significant. 93.5% of variation in attitude, trust and

perceived usefulness explain the perceived ease of use of the internet banking for customers. This

result is translated into f significance which is 0, that is below 0.05 thus the relationship between the

variables is significant. Moving to the T significance, the table shows that the significant level for

attitude, trust and perceived usefulness is 0 which is also below 0.05, indicating that the variables are

significant.

Thus, the hypothesis H0= Perceived ease of use has positive and significant impact on

perceived usefulness, trust and attitude is proven to be true.

Sixth Hypothesis

H0=Perceived usefulness has positive and significant impact on attitude and intention

H1= Perceived usefulness does not impact attitude and intention

Table 9: R Square for perceived usefulness Model Summaryb

Model R R

square

Adjusted

Rsquare

Std. Error

of the

estimate


Watson R

Square

change


change

1 .948a .898 .897 .351 .898 915.730 915.730 2 207 .000

a. .218 Predictors:(Constant),Intention


The above regression tables show that R square is 0.898 which is greater than 0.85 which

means that 89.9% of the relation between the variables is highly significant and that the variation in

intention and attitude explains the perceived usefulness of the internet adoption. The R square is

translated into F significant which is 0, that is less than 0.05 indicating that the relation is significant.

The T square for the independent variables show 0 for intention which is below 0.05 indicating that

the relation between intention and perceived usefulness is significant. Also, the T significant for

attitude shows 0.009 which is below 0.05; thus, the variable is significant.



84

This proves the hypothesis H0=Perceived usefulness has positive and significant impact on

attitude and intention.

9. CONCLUSIONS AND RECOMMENDATIONS

E-Banking has started up new time frame to the current banking organizations. It permits

banks to offer their customers with services through the internet to make them achieve their goal

with minimal time. The E-Banking industry is beyond reach for the newcomers due to the launching

price that is concentrated with high amount of development.

This paper studies the relationship between the variables affecting the adoption of internet

banking in Lebanon. The variables are chosen according to the Technology Acceptance Model

(TAM), the Theory of Planned Behavior (TPB), and the Theory of Reasoned Action (TRA). The

variables are intention, attitude, perceived behavioral control, trust, perceived usefulness, perceived

ease of use and subjective norms. Thus, six hypotheses were formulated to study the significance of

these variables in affecting the adoption of internet banking to customers. Hypothesis one states that

attitude has positive and significant / does not impact on intention.

Hypothesis two states that perceived behavioral control has positive and significant / do not

impact on intention. Hypothesis three states that subjective norms have positive and significant

impact / no impact on intention. Hypothesis four states that trust has positive and significant impact /

no impact on intention, attitude, perceived behavioral control and subjective norms. Hypothesis five

states that perceived ease of use has positive and significant/ no impact on perceived usefulness, trust

and attitude. The sixth hypothesis states that perceived usefulness has positive and significant

impact/ no impact on attitude and intention.

Recommendations

Banks should alert their customers about its protection policy through all available media

such as their websites or updates as the results show that almost 84% of the clients strongly agree

and agree that media affects their adoption of the internet banking.

Banks should work on strategies for protection factors of their online services to motivate and

increase the trust of clients to use on online banking as almost 49% of the customers in this study

strongly agree and agree that online banking is trustworthy while the other 51% beliefs vary between

neutral, disagree and strongly disagree.

Limitations and Future Research

Limitations of the study are that the questionnaires were not distributed among all the

Lebanese banks. Another limitation will be that customers who have filled the survey were

individual customers and not corporate customers. Moreover, other variable influencing the adoption

of internet banking such as risk was not studies as a variable in the survey distributed, in addition to

the variables related to customer satisfaction.

Moving to the future research, further studies should be done to learn more about the role of

trust and its impact on adopting online banking. Further research should be done to study the level of

trust for online users who have experience using online sites. In addition to that, future research

should be studied when the percentage of use of online banking in Lebanon increases to investigate

the customers' attitude, trust, perceived behavioral control, perceived usefulness, perceived behavior

and subjective norms. Moreover, studies should be conducted to investigate the profitability of this

service.



85

REFERENCES

1. Abdul Hannan Mia, Mohammad Anisur Rahman,. Main Uddin (2007)"E-Banking:Evolution,

Status and Prospects" The Cost and Management, Vol. 35 No. 1

2. Ajzen, I. (1985). From intentions to actions: A theory of planned behavior. In J. Kuhl, & J.

Beckmann (Eds.), Springer series in social psychology pp. 11-39.

3. Avlonitis, G. J, and P. Papastathopoulou (2000) 'Marketing communications andproduct

performance: innovative vs. non-innovative new retail financial product millennium

'International Journal of Bank Marketing, Vol. 18, No.1, pp. 27-41.

4. Bradley, L. & Stewart K. (2002). A Delphi study of drivers and inhibitors of internet

banking. International Journal of Bank Marketing, Vol. 20, No. 6, 250-260

5. Brogdon, C.(1999)."Banking and the Internet: Past, present and possibilities. "http:// www-

db.stanford.edu/pub/gio/CS99I/banking.html Accessed on 2011-07-23, 1999

6. Bughin, J. (2003). The diffusion of Internet banking in Western Europe Electronic Markets.

Vol. 13, No.3. 251-258. Calof, J. L. & Beamish P.W. (1995). Adapting to foreign markets:

Explaining internationalization. International Business Review. Vol. 4, No.2. 15-31.

7. Burns, P. P. (2000) Service Consistency across Channels is Key to Success, American

Banker, Vol. 165, No. 68, pp. 4-6.

8. Daniel, E. (1999) "Provision of Electronic Banking in the UK and the Republic of Ireland,"

International Journal of Bank Marketing, Vol. 17, No. 2, pp. 72-82.

9. Davis, F., Bagozzi, R. & Warshaw, P. 1989. User acceptance of computer technology: a

comparison of two theoretical models. Management Science 35 (8), 982-1003.

10. Durkin, M. (2004), "In Search of the Internet-banking Customer: Exploring the Use of

Decision Styles", International Journal of Bank Marketing, Vol. 22, No. 7: 484-503.

11. Elissar Toufaily, Naoufel Daghfous, Roy Toffoli, (2009). "The Adoption of E Banking by

Lebanese Banks: Success and Critical Factors," International Journal of E-Services and

Mobile Applications, vol.1, issue 1.

12. Ernst & Young (2012). Global Consumer Banking Survey.

13. Ghazzawi Khalil, Pierre Khoury, Judy Saman, (2014), “The Effect of Implementing

Technology in HRM on the Level of Employee Motivation”, Human Resource Management

Research 2014, 4(2): 33-39 DOI: 10.5923/j.hrmr.20140402.04.

14. Hertzum, M., Juul, N. C., Jørgensen, N., & Nørgaard, M. (2004). Usable Security and E-

Banking: Ease of Use vis-à-vis Security. Paper presented at the Proceedings of the OZCHI

2004 Conference, Australia.

15. Jeevan M T., 2000, “Only Banks - No Bricks”, Voice and Data, November 11 th, Available

[online] www.voicendata.com/

16. Jun Wu (2005)."Factors that influence the adoption of internet banking by South Africans in

the Ethekweni metropolitan region"

17. Karjaluoto, H., Mattila, M, Pento, T. (2002) "Factors underlying attitude formation towards

online banking in Finland" International Journal of Bank Marketing, vol.20, No.6, pp.261-

272.

18. Kolodinsky, J., Hogarth, J. M. and Shue, J. F. (2000) Bricks or Clicks? Consumer Adoption

of Electronic Banking Technologies, Consumer Interests Annual, Vol. 46, pp.180-184.

19. Mols, N. P. (1998). The Behavioral Consequences of PC Banking, International Journal of

Bank Marketing, Vol. 16, No.5, pp. 195-201.

20. Nabil Hussein Al-Fahim (2013)"An Exploratory Study of Factors Affecting the Internet

Banking Adoption: A Qualitative Study among Postgraduate Students" Global Journal of

Management and Business Research Finance Volume 13 Issue 8 Version 1.0



86

21. Perrien. J., Filiatrault. P., & Richard, L. (1993). The implementation of relationship

marketing in commercial banking. Industrial Marketing Management, vol.22. pp. 141-148.

22. Polatoglu, V. N., Ekin, S. (2001). An empirical investigation of the Turkish consumers'

acceptance of internet banking services. International Journal of Bank Marketing, 19 (4),

156-65.

23. Raju, P.S. (1980), Optimum stimulus level: its relationship to personality, demographics, and

exploratory behavior. Journal of Consumer Research, 7, 272-282.

24. Robinson (2000),"Internet Banker-still not a perfect marriage," Information Week, Vol. 17,

No. 4, pp. 104-106

25. Robinson, T. (2000). Internet banking: still not a perfect marriage.Informationweek.com,

April 17, pp.104-106.

26. Rogers, E. M. & Shoemaker, F.F. (1971), Communications of Innovations. New York. Free

Press

27. Rogers, E. M. (1983). Diffusion of innovations. New York: The free press third edition

28. Sathye, M. (1999)."Adoption of internet banking by Australian consumers: an empirical

investigation, "International Journal of Bank Marketing, Vol.17, No 7, pp324-334)

29. Sayar, C. & Wolfe. S. (2007). Internet banking market performance: Turkey versus the UK.

International Journal of Bank Marketing. Vol. 25, No.3, pp. 122-141.

30. Sujana Adapa (2011). "Global e-banking trends: evolution, challenges and opportunities",

University of England Australia

31. Thornton, J and White, L (2001). Customer Orientation and usage of Financial distribution

Channels, Journal of Service Marketing Vol. 15 (3)

32. Wang, J.H. (2002). “The function of Internet”. (Online). Available at:

http://www.scagri.gov.cn.

33. P.Saravanan and P.Sridharan, “A Study on The Demo Graphical Characteristics of Internet

Banking Non-Adopters In Chennai Metropolitan City with Reference To Indian Bank”

International Journal of Management (IJM), Volume 5, Issue 11, 2014, pp. 61 - 69, ISSN

Print: 0976-6502, ISSN Online: 0976-6510.

34. Adnan M. Al-Khatib, “Internet Banking and Its Adoption In The Arab World” International

Journal of Information Technology and Management Information Systems (IJITMIS),

Volume 4, Issue 3, 2013, pp. 12 - 24, ISSN Print: 0976 – 6405, ISSN Online: 0976 – 6413