The paper “ The Manner in Which Online Banking Has Evolved for HSBC Bank and the Manner It Is Creating Problems for the Banks” is a delightful version of a research paper on marketing. The growth in technological advancement has made people look towards more advanced ways in the banking system. The banking system, as a result, has evolved and provides complete internet solutions to the people. The study helps to highlight the manner in which internet banking has evolved for HSBC Bank. Understanding the requirements of the customers and developing services accordingly is the main objective of the baking system.
The study presents the manner in which online banking is creating a problem for HSBC customers and ways that will help to improve online customer banking satisfaction. The rationale of the studyThe study on the problem due to online banking for HSBC bank is being conducted due to the following reasons Understanding the manner in which online banking has revolutionized the banking system The growing use of online banking despite scams and frauds being an inherent part of it ObjectivesIt is important to identify the objectives of this study so that a clear direction is given to the study and the importance of the study magnifies.
The objectives are To find the current situation of online banking in HSBC Bank To identify the problems surrounding online banking in HSBC bank To find out the customer expectations and what does online banking provides in reality To find out ways in which the magnitude of the problem associated with online banking can be reduced About HSBC bank HSBC is one of the largest banks established in London. The bank has around 8000 offices in 87 countries all over the world (HSBC Website, 2011).
The bank was started in 1865 and has grown to different countries. The offering by the bank has grown and the use of technological advancement has made it easy for HSBC bank to provide quality service. HSBC bank offers a variety of products and services based on the customer requirements which have helped the banking institution ensure quality in service. HSBC bank has recently faced certain issues due to technological advancement which has created doubts in the mind of people and customer satisfaction has reduced due to it. The above graph shows the manner in which HSBC bank works and the different mechanisms it uses to provide customers varied services.
The above chart shows that HSBC bank uses online banking as a medium to provide goods and services to the customers which result in additional pressure for HSBC bank due to the technological advancement and problems associated with it. Literature ReviewThe literature review which are past studies conducted in the same direction and highlights the issues and importance being laid on online banking. Some of the notable studies in this direction are as follows A study in this direction says that security is a major issue that surrounds online banking and customers are willing to switch to online ways but security needs to be looked after (Martin, 1998).
Along with these banks should ensure that their website is cluttered with advertisement thereby making it difficult for the customer (Hamlet, 2000) to use online services to the fullest. This has been further substantiated by the fact that attitudinal factors have relevance to people using online services (Tan & Teo, 2000) which gets further influenced by prior experience of using technology (Karjaluoto, 2002).
The fear in the mind of customers using online facilities gets magnified due to information sharing and distrust (Rotchanakitumnuai & Speece, 2004) which arises due to the usage of online facilities.