Applying TAM on Internet Banking: Survey - Essay Example

Applying TAM on Internet Banking: Survey Sampling Spread A random sampling of twenty university students was done to cover a wide spectrum of people from various walks of life. The categorization was done on the basis of: Sex, Usage of internet, place of usage and the internet bank usage. The reasoning behind the choice of people and their spread in each category is given below. Sex spread has been selected to be uniform. 10 men and 10 women were included in the data survey. Age spread is as shown below. The stress in the survey has been with the growing population and the one which would have the power to spend and the inclination to spend or transact business. Most of the people surveyed said that they used the internet from their university while a little lesser was the number of people who used it off their home and another 6 people used it from other locations, like common browsing centers, libraries, etc., Usage of internet at home and at the university is similar though there is an increased trend towards using it more at the University still continues. As to the exposure to the internet is concerned almost all those who said they did have exposure to internet for over a year also said that they had internet banking exposure for over a year which is very welcome since most of the people who are on the internet seem to be more inclined towards using internet for this purpose. Analysis Perceived usefulness: Most people (40%) felt that the internet banking enabled them to do their job quickly and only 20% felt that it does not help them do their job quickly. Others felt neither or did not comment. This indicates there is an overall speed increase in the process. This has also resulted in 40% of the people saying that their productivity has gone up and 45% said that their effectiveness in utilizing the services have gone up. The same is not the case with the utilization of banking services, which the respondents seem to feel is more towards disagreeing. 40% said the internet banking has NOT improved their services. Around 35% said they perceived an improvement in the service. Nearly 45% of the respondents also felt that it was not easy to use the internet banking facility. This implies that the sites are not really user friendly and the usability factor of the websites has to be analyzed. The overall banking usefulness as perceived was checked and was found to be more in favor of yes as shown above. The number of people who perceived that the internet banking is not useful was just 15%. This implies that the overall reaction of the people is towards satisfactory internet banking. The above pie chart shows that there are also undecided people of almost 45% of the surveyed lot who could be turned positive with a little effort. Trust From the analysis of the survey results, it is found that the overall satisfaction levels in the case of trust is also in favor of the bank. However, some of the important questions in this regard, ‘I feel trustworthy towards my bank’ and ‘Using internet banking is secure’ has evoked a strong neutral stand from the respondents. This indicates that the majority of them are still in a dilemma as to use the internet banking or not to use it. This dilemma can easily be turned positive by suitable promotion and clarifications for the clients of the bank. Another interesting point to note is the fact that nearly 40% of the people have said they may not trust the bank with their private information. This possibly stems from the idea that the respondents might be getting from the bank that they are sharing their personal information with others merchants. But the overall trust in the bank has not diminished as per the figure below. There are more people who are saying they trust their bank without any holds. There is also 40% of people who say that they are neutral; not saying no but at the same time not saying yes either. This is a group that needs further analysis by the bank as to why this is happening and may be efforts to be taken to set this right. Perceived Ease of Use Questions The overall answer to the ease of use question has not been any different. The respondents seem to feel that the internet banking is easy to use. Please see figure below. However, on looking at the options the respondents have selected in the other questions throws a better light on the question of ease of use of the website. For the question whether the interaction with the bank online is frustrating, people have said a marginal yes. In the next two questions on ‘mental effort’ and on ‘rigid and inflexible’ also the respondents have given a clear ‘yes’. For the question whether the user finds it easy to use the internet banking, there is a clear ‘No’ and so is the case with the site being cumbersome, the respondents have said that they DO find it cumbersome. From the answers to these questions, it could be easily made out that the internet banking is not easy for the user and the usability factor is under question, even though the respondents have given an overall score of satisfactory ease of use. Conclusion Analysis was done based on the structure provided by Bomil Suh and Ingoo Han (2002). Perceived usefulness of the internet banking seems to be very high and the customers are eager to make full use of the same. Though there are certain areas on the comfort factor which has been looked into separately on the ease of use. While on the trust factor, the banks seem to have come out unscathed. Customers have expressed an unequivocal confirmation of their trust. On the ease of use, the customers find that the internet banking on an overall basis as comfortable. But they have expressed reservations on the ease of use factor. From the points raised in the analysis earlier, the following can be deduced: 1. Customers find the internet banking easy and comfortable 2. Customers see the advantages of having internet banking and they are able to optimize their work 3. Customers trust their bank. 4. Customers are not happy with the ease of use of the internet banking environment. Read More