Research Journal of Management Sciences _____________________________________________ISSN 2319–1171 Vol. 4(9), 1-9, October (2015) Res. J. Management Sci. International Science Congress Association 1 Internet Banking: Adoption among Bank Customers of Dakshina Kannada District, India Pandey Priyanka, Mayya Sureshramana, Joshi H.G. and K. Shivaprasad3 Department of Commerce, Manipal University, Manipal-576104, Karnataka, INDIA Department of Commerce, M.G.M. College, Udupi-576102, Karnataka, INDIA Project Manager, Manipal Digital Systems, Manipal-576104, Karnataka, INDIAAvailable online at: www.isca.in, www.isca.me Received 22nd September 2015, revised 28th September 2015, accepted 6th October 2015 Abstract The objective of this paper is to find factors that affect adoption of internet banking in Dakshina Kannada District. This study was based on survey conducted through questionnaire. Data was gathered from bank customers of Dakshina Kannada District. The result of the study point out that, the perception, drivers and key barriers that bank customers of Dakshina Kannada District reflected and face to adopt internet banking are: lack of awareness, low trust, security risk, lack of access and exposure about internet banking. Whereas some respondents reflect that it is easy, cost and time saving, convenient service of bank available around the clock and across the geographies. The study proposes a number of measures which could be useful for banks. The findings may support banks to have a better understanding of customers’ perception to adopt internet banking. This may help banks’ to formulate enhanced strategies that could significantly affect internet banking services and its adoption. Keywords: Technology, internet banking, adoption, bank customers, security. Introduction The unprecedented development and advancement of information technology in recent years changed the scenario of life. Information technology influences all industrial sector mainly service sector. Over the past few years with the development of information technology banking sector experiencing and adopting various technological development and changes. Banks introduced several facilities, products and services through innovative delivery channel like internet banking. Internet banking is an innovative service among several information system updated by banks in recent past. Banks facilitates customers to involve in various financial undertakings over virtual environment and space according to their convenience. Internet banking is useful for both customers and bank. Banks experiencing the benefits as it is time saving, cost saving, resource saving, reach to global customers, improved service quality and many more. Foley and Jayawardhena mentioned that internet banking provides novel values to customers like time saving, cost reducing to access and use various services of bank, flexibility to do bank activities any time anywhere 24X7. This is vital shift in the delivery channel of bank in the direction of self-service channel. Customers are moving from traditional ways of banking to internet banking because of its ease to use, flexibility, time and cost saving quality. Despite of many benefits of internet banking the number of customers are not increasing as the number of internet users. Adoption of internet banking among customers is not in pace as banks are expecting. Internet banking in developing countries is still in its nascent stage. Deyoung added that slow and low adoption of new technology and related product and services indicates threat for success of that technology. Literature review: Internet banking service allows customers to execute banking activities over virtual environment through internet connection on electronic device. These activities include transactions, account statement, balance enquiry, bill payment, online shopping, e-tax, i-collect and many more. According to Pikkarainen and Karjaluoto internet banking is an internet portal provided by banks to customers to execute various banking services. Rahmath and Hema mentioned that internet banking is one of the latest facility initiated by banks among the varieties of innovative banking services. Internet banking developed as an alternative delivery channel for banks traditional services and products. Dube and Chitura mentioned about three types of internet banking that are informational, communicative and transactional. Informational type of internet banking provides various information on standalone server related to bank’s services and products. Communicative type of internet banking permits certain limited interaction between customers and banks. Whereas transactional type of banking provides facility to execute various financial activities and transactions like account access, payments of bill, investment and fund transferJayawardhena and Foley mentioned that the main benefits to the banks are saving of cost, targeting new segments, reaching customers at global level, enhancing banks performance and efficiency, providing better customers friendly service. Research Journal of Management Sciences _________________________________________________________ISSN 2319–1171Vol. 4(9), 1-9, October (2015) Res. J. Management Sci.International Science Congress Association 2 Sheshunoff indicated that competitive advantage is one of the vital fact for banks to sustain in market by adopting new technology like internet banking. Internet banking proved to be flexible, accommodative and useful delivery channel provided by banks. Driving force for customers to adopt internet banking are its usefulness, availability, cost and time saving, 24 hours and seven days service across the geographies, avoiding long queues in banks10. Internet banking users feels no need to travel to and from branch of bank. They conveniently use internet banking according to their choice and place with internet accessibility. Users can control and manage their banking activities whenever they want. Laukkanen stated in his study that in spite of various benefits of internet baking services still number of bank customers using traditional ways of banking. Customers don’t prefer to adjust and adopt new technology especially for their banking activities. They rely and prefer their existing traditional service as they are used to of that. This initial resistance is one of the biggest barrier in the way of successful adoption of internet banking11. Musiime recognized various factors which they determined that they act as barrier and affect choice of customer to adopt new technology. These factors comprise experience and skill to use internet, perceived security, exposure of market, demographic of user, reliability on service provider12. Internet banking offersoption for quicker delivery of bank services to varied segment of bank customers13. However, with the popularity of internet banking both legal as well as illegal practices increased13. It is a system based on trust, because of illegal practices customers may compromise with their personal information and they may lose trust on bank and in internet banking system14. Fraud and its negative consequences can adversely affects customers views about internet banking adoption14. Therefore safety and security is identified as one of the major barrier to adopt internet banking15. Perception about risk and problems to use virtual banking is also one of the important cause that act as inhibitor to adopt internet baking15.Secure and insecure web environment and connection also influences customers views to adopt or not to adopt. Some researchers find out that young generation are early adopter of internet banking in comparison to older generation. Researcher revealed that most of the adopter of internet banking comes under category like people ready to take and face risk, with the attitude to move towards new technology, high telecommunication user, high income and young people16. Furthermore customers understanding, experience and knowledge about internet and computer may also influence trust on internet banking. Past interaction and experience may positively or negatively affect attitude and decision of customers to adopt advance technology such as internet banking17-19. According to Jiang, Hsu, Klein, and Lin individual having more experience, exposure and usage of internet are more likely to adopt innovative internet based technologies20 Objective: Find out customers viewpoint and factors behind adoption of internet banking among bank customers of Dakshina Kannada District.Methodology The present study was carried out in urban area of Dakshina Kannada District. A structured questionnaire based on five point Likert scale was used (SD-strongly disagree, D-disagree, N-neutral, A-agree, SA-strongly agree) for collection of primary data. The survey was conducted by involving 850 respondents. Out of the 850 questionnaires distributed 700 were received. Respondents were bank customers from different age group, qualification and occupation. Secondary source of data obtained by journal, articles, website, magazines, newspapers etc. Data collected from survey were analyzed by using descriptive statistics a tool of SPSS (statistical package for social science). Results and DiscussionThe study was based on data collected from 700 bank customers of Dakshina Kannada District, Karnataka. Among 700 bank customers some were using internet banking some were not using. The percent of users and non-users of internet banking is depicted in table 1. Table-1 User and Non-user of Internet Banking Frequency Percent Yes 290 41.4% No 410 58.6% Total 700 Source: survey result, 2015. Table-2 shows demographic profile of respondents. Gender involved in study were 53.3% male and 46.7% were female. Respondents from different age groups were as 20 years were 8.1%, 20-30 years were 44.0%, 31-40 years were 19.6%, 41-50 years were 15.0% and &#x-3.3;墆50 years were 13.3%. From 700 respondents 53.7% were married whereas 46.3% were unmarried. Respondents education level were also different as 10.6% were high school passed, 41.3% were having bachelor’s degree, 39.3% were from master’s degree and 8.9% were having some other type of degree. Young indicate that highly educated and wealthy customers usually accept modifications more willingly21. Education and trust inspire attitude of customers to use internet banking22. Profession were also different of respondents like 29.0% were student, 2.6% were self-employed, 18.4% were in government job, 44.4% were in private job and 5.6% were in other type of job. 15.6% were respond that they have no monthly income, 19.6% were respond 10,000 monthly income, 13.1% were Research Journal of Management Sciences _________________________________________________________ISSN 2319–1171Vol. 4(9), 1-9, October (2015) Res. J. Management Sci.International Science Congress Association 3 respond 10,000-20,000 monthly income, 9.4% were respond 20,001-30,000 monthly income, 8.7% were respond 30,001-40,000 monthly income, 13.1% were respond 40,001-50,000 monthly income and 20.4% were respond �50,000 monthly income. Price Waterhouse Coopers mentioned that usually customers of internet banking belong from age group of 25-35 years, has average to high income and fond to take own decision related to financial activity23. Table-2 Demographic profile of the respondents Frequency Percentage Gender Male 373 53.3% Female 327 46.7% Total 700 Age 20 57 8.1% 20-30 308 44.0% 31-40 137 19.6% 41-50 105 15.0% �50 93 13.3% Marital status Married 376 53.7% Unmarried 324 46.3% Education level High school 74 10.6% Bachelor’s 289 41.3% Master’s 275 39.3% Other 62 8.9% Profession Student 203 29.0% Self-employed 18 2.6% Government job 129 18.4% Private job 311 44.4% Others 39 5.6% Monthly income No income 109 15.6% 10,000 137 19.6% 10,000-20,000 92 13.1% 20,001-30,000 66 9.4% 30,001-40,000 61 8.7% 40,001-50,000 92 13.1% �50,000 143 20.4% Source: survey result, 2015. The table-3 shows 9 variables related perception of bank customers about internet banking. Questions related to perception were filled by only user of internet banking. Out of 700 respondents only 290 (41.4%) were using internet banking and they respond on the basis of experience with internet banking. The optional scales for perception measure were SD-strongly disagree, D-disagree, N-neutral, A-agree, SA-strongly agree. Gained frequency and percent of questions related to perception variables were mentioned in the table-3. Percent shows that out of 41.4% internet banking users 21.7% were agree, 15.7% were strongly agree, 1.7% were neutral, 1.6% were disagree and .7% were strongly disagree that learning of internet banking is easy. Familiarity of internet banking services gained percent as out of 41.4% respondents 25.1% were agree, 9.6% were strongly agree, 4.9% were neutral, 1.6% were disagree and .3% were strongly disagree. Suganthi, Balachandher, and Balachandran, 2000 stated that awareness among customers is one of the most important driver to adopt or accept any innovation and related product or service24. 25.7% respondents were agree, 10.4% were strongly agree, 3.9% were neutral, .9% were disagree and .9% were strongly disagree with the statement that internet banking is compatible with their banking needs. Internet banking site is safe and trustworthy 13.3% respond neutral, 13.0% were agree, 39.0% were disagree, 3.4% were strongly agree and 2.7% were strongly disagree. Navigation of internet banking is simple, 24.9% were agree, 7.4% were strongly agree, 4.9% were neutral, 3.1% were disagree and 1.1% were strongly disagree. Transactional activities are easy by using internet banking, 24.3% were agree,12.6% were strongly agree, 3.1% were neutral, .9% were disagree and .6% were strongly disagree. Services and products that banks offer through internet banking are suitable and satisfactory, 24.9% were agree, 7.7% were neutral, 6.3% were strongly agree, 1.9% were disagree, .7% were strongly disagree. Want to continue with internet banking facilitated by my bank as I am satisfied, 25.4% were agree, 11.9% were strongly agree, 2.6% were neutral, .9% were disagree and .7% were strongly disagree. Family and friends are using internet banking, 22.3% were agree, 8.3% were neutral, 7.4% were strongly agree, 2.7% were disagree and .7% were strongly disagree. Research Journal of Management Sciences _________________________________________________________ISSN 2319–1171Vol. 4(9), 1-9, October (2015) Res. J. Management Sci.International Science Congress Association 4 Table-3 Perception Statement Scale Frequency Percent It is easy to learn and use internet banking(IB) Not using IB 410 58.6% SD 5 .7% D 11 1.6% N 12 1.7% A 152 21.7% SA 110 15.7% Facilities provided through internet banking are familiar Not using IB 410 58.6% SD 2 .3% D 11 1.6% N 34 4.9% A 176 25.1% SA 67 9.6% Internet banking is compatible with my banking needs Not using IB 410 58.6% SD 6 .9% D 6 .9% N 25 3.9% A 180 25.7% SA 73 10.4% Internet banking site is safe and trustworthy Not using IB 410 58.6% SD 19 2.7% D 63 9.0% N 93 13.3% A 91 13.0% SA 24 3.4% Internet banking navigation is simple Not using IB 410 58.6% SD 8 1.1% D 22 3.1% N 34 4.9% A 174 24.9% SA 52 7.4% Using internet banking site eased transactions Not using IB 410 58.6% SD 4 .6% D 6 .9% N 22 3.1% A 170 24.3% SA 88 12.6% Product and services offered through internet banking are suitable and satisfactory Not using IB 410 58.6% SD 5 .7% D 13 1.9% N 54 7.7% A 174 24.9% SA 44 6.3% I Wish to continue internet banking with bank as I am satisfied with it Not using IB 410 58.6% SD 5 .7% D 6 .9% N 18 2.6% A 178 25.4% SA 83 11.9% My friends and family members are using internet banking Not using IB 410 58.6% SD 5 .7% D 19 2.7% N 58 8.3% A 156 22.3% SA 52 7.4% Source: survey result, 2015. Research Journal of Management Sciences _________________________________________________________ISSN 2319–1171Vol. 4(9), 1-9, October (2015) Res. J. Management Sci.International Science Congress Association 5 Table-4 Drivers Statement Scale Frequency Percent To use internet banking resources are easily available Not using IB 410 58.6% SD 4 .6% D 19 2.7% N 28 4.0% A 183 26.1% SA 56 8.0% Internet banking facilities can be used as per convenient timings Not using IB 410 58.6% SD 4 .6% D 6 .9% N 22 3.1% A 159 22.7% SA 99 14.1% Easy to maintain banking transaction activity through internet banking Not using IB 410 58.6% SD 3 .4% D 7 1.0% N 14 2.0% A 165 23.6% SA 101 14.4% For any internet banking problem easy to get proper response from the concerned bank Not using IB 410 58.6% SD 10 1.4% D 41 5.9% N 95 13.6% A 108 15.4% SA 36 5.1% Internet banking is cheaper way to conduct banking Not using IB 410 58.6% SD 4 .6% D 10 1.4% N 42 6.0% A 169 24.1% SA 65 9.3% Bank encourages usage of internet banking Not using IB 410 58.6% SD 10 1.4% D 33 4.7% N 55 7.9% A 136 19.4% SA 56 8.0% Internet banking makes conducting banking transactions easier Not using IB 410 58.6% SD 2 .3% D 8 1.1% N 16 2.3% A 192 27.4% SA 72 10.3% Happy with immediate receipt of alerts for each transaction through SMS Not using IB 410 58.6% SD 3 .4% D 7 1.0% N 15 2.1% A 166 23.7% SA 99 14.1% Source: survey result, 2015. Research Journal of Management Sciences _________________________________________________________ISSN 2319–1171Vol. 4(9), 1-9, October (2015) Res. J. Management Sci.International Science Congress Association 6 The table-4 shows 8 statements that may act as drivers for adoption and continuation to use internet banking. Out of 700 respondents only 290 (41.4%) were using internet banking and they respond on the basis of experience. The optional scales for driver measure were SD-strongly disagree, D-disagree, N-neutral, A-agree, SA-strongly agree. Gained frequency and percent of questions related to drivers of internet banking were mentioned in the above table. Questions related to drivers of internet banking were filled by only user of internet banking. Resources to use internet banking are easily available, 26.1% were agree, 8.0% were strongly agree, 4.0% were neutral, 2.7% were disagree and .6% were strongly disagree. Facilities provided through internet banking can be used as per convenient timings, 22.7% were agree, 14.1% were strongly agree, 3.15% were neutral, .9% were disagree and .6% were strongly disagree. Internet banking eased to maintain banking transaction and related activities, 23.6% were agree,14.4% were strongly agree, 2.0% were neutral, 1.0% were disagree and .4% were strongly disagree. Customers get quick and proper response for any problem of internet banking from the concerned bank, 15.4% were agree, 13.6% were neutral, 5.9% were disagree, 5.1% were strongly agree and 1.4% were strongly disagree. Internet banking is cheaper way to conduct banking, 24.1% respondent were agree, 9.3% were strongly agree, 6.0% were neutral, 1.4% were disagree and .6% were strongly disagree. Bank encourages usage of internet banking, 19.4% were agree, 8.0% were strongly agree, 7.9% were neutral, 4.7% were disagree and 1.4% were strongly disagree. Internet banking makes banking transactions easier, 27.4% were agree 10.3% were strongly agree, 2.3% were neutral, 1.1% were disagree and .35 were strongly disagree. Immediate receipt of alerts for each transaction make me happy, 23.7% were agree, 14.1% were strongly agree, 2.1% were neutral,1.0% were disagree and .4% were strongly disagree. Table-5 represents inhibiting factors related to internet banking adoption. There are 10 statement in this part related to inhibitors. Questions were filled by both users and non-users of internet banking. Out of total 700 respondents 58.6% were not using internet banking wherever 41.4% were using internet banking. Both types of respondents answered for all statements as for the statement that “I do not know how to use internet banking”, 33.0% were strongly disagree, 24.0% were disagree, 19.4% were agree 9.9% were strongly agree, 9.3% were neutral and 4.4% were not answered anything. Prasad and Arumbaka mentioned that majority of the Indian customers do not know how to grow themselves as internet banking user. They have feeling of insecurity and dilemma to become internet banking user25. Lichtenstein and Williamson told that non-users of internet banking don’t have knowledge and thought to use internet banking in Australia26. Al-Sukkar and Hasan mentioned that less awareness is one of the inhibitor towards less adoption rate of internet banking services in the Middle East17. “I am concerned about security and privacy”, 41.9% were agree, 20.0% were strongly agree, 16.1% were neutral, 11.4% were disagree 6.1% were strongly disagree and 4.4% were not answered anything. “I do not trust internet banking services”, 27.4% were disagree, 26.4% were neutral, 18.3% were agree, 14.1% were strongly disagree, 9.3% were strongly agree and 4.4% were not answered anything. Al-Somali, Gholami, and Clegg stated that trust and education stimulate attitude of customer to become user of internet banking28 “I prefer face to face banking”, 28.0% were agree, 22.0% were disagree 19.4% were neutral, 16.1% were strongly agree, 10.0% were strongly disagree and 4.4% were not replied anything. “I do not have resources to use internet banking”, 32.3% were disagree, 30.6% were strongly disagree, 15.6% were agree, 12.9% were neutral, 4.3% were strongly agree and 4.4% were not answered anything. Customers feel that they require and invest more money and time to learn skills to access internet banking29. “My bank does not offer training to use internet banking services”, 28.6% were agree, 20.9% were neutral, 19.7% were disagree, 17.7% were strongly disagree, 8.7% were strongly agree and 4.4% were not replied anything. “Compatibility of internet banking with web browser ”, 34.3% were neutral, 31.3% were agree, 13.3% were disagree, 9.3% were strongly disagree, 7.0% were strongly agree,4.4% were not answer anything. Black, Lockett, Winklhofer and Ennew’s exposed that compatibility of internet banking delivery channel with customers’ skill, experience, opportunity to access and personality of individual is an important factor to adopt it30 “Recovery problem related to internet banking”, 41.0% were neutral, 29.0% were agree, 13.4% were disagree, 6.9% were strongly agree, 5.3% were strongly disagree and 4.4% were not answered anything. “Poor customer support”, 34.6% were neutral, 23.9% were disagree, 20.1% were agree, 10.1% were strongly disagree, 6.9% were strongly agree and 4.4% were not answered. “Restriction on fund transfer”, 35.1% were neutral, 25.9% were agree, 19.0% were disagree, 7.9% were strongly disagree, 7.7% were strongly agree and 4.4% were not replied anything.ConclusionEach individual customers perceive internet banking differently. There are many common and uncommon factors related to perception, drivers and inhibitors of internet banking that influence bank customers to adopt internet banking. The result of this study concluded that perception about internet banking is an important influencing factor to adopt. Customers using internet banking experiencing various ease as well as difficulty and build their perception according to that. Such customers on the basis of their personal experience may influence positively or negatively others to adopt or not to adopt internet banking. Other than that various benefits of internet banking act as drivers and attracts bank customers to adopt internet banking. Factors such as knowledge, experience, availability of resources to access internet banking, support from service provider, Research Journal of Management Sciences _________________________________________________________ISSN 2319–1171Vol. 4(9), 1-9, October (2015) Res. J. Management Sci.International Science Congress Association 7 benefits, secure browser, familiarity, trust, privacy and many more factors act as driver to adopt internet banking. Whereas low awareness, insecure browser, cyber fraud, low trust, fear to compromise with privacy, preference to use face to face banking, poor customer support, recovery problem, high concern about safety and privacy play an important role as inhibitor for adoption of internet banking.Table-5 Inhibitors Statement Scale Frequency Percent I don't know how to use internet banking Not answered 31 4.4% SD 231 33.0% D 168 24.0% N 65 9.3% A 136 19.4% SA 69 9.9% I am concerned about security and privacy of internet banking services Not answered 31 4.4% SD 43 6.1% D 80 11.4% N 113 16.1% A 293 41.9% SA 140 20.0% I don't trust internet banking services Not answered 31 4.4% SD 99 14.1% D 192 27.4% N 185 26.4% A 128 18.3% SA 65 9.3% I prefer personal and face to face banking Not answered 31 4.4% SD 70 10.0% D 154 22.0% N 136 19.4% A 196 28.0% SA 113 16.1% I don't have resources to use internet banking Not answered 31 4.4% SD 214 30.6% D 226 32.3% N 90 12.9% A 109 15.6% SA 30 4.3% My bank does not offer training to use internet banking services Not answered 31 4.4% SD 124 17.7% D 138 19.7% N 146 20.9% A 200 28.6% SA 61 8.7% Compatibility of internet banking with web browsers Not answered 31 4.4% SD 65 9.3% D 96 13.7% N 240 34.3% A 219 31.3% SA 49 7.0% Recovery of problem related to internet banking Not answered 31 4.4% SD 37 5.3% D 94 13.4% N 287 41.0% A 203 29.0% SA 48 6.9% Poor customer support Not answered 31 4.4% SD 71 10.1% D 167 23.9% N 242 34.6% A 141 20.1% SA 48 6.9% Restrictions on fund transfer Not answered 31 4.4% SD 55 7.9% D 133 19.0% N 246 35.1% A 181 25.9% SA 54 7.7% Source: survey result, 2015. 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