Abstract:
The past few years have been characterized by rapid changes in
technology and the introduction of corporate and retail banking
services through the Internet. Technology has become a key
aspect of many bank business decisions and various new bank
products are reliant on new technologies. New and advanced
products and services, delivery channels, and processing options
have changed the way banks make decisions, interact with
customers, and process bank transactions. This project gives an
insight on all the possible aspects covering key perspectives
associated with internet banking.
United Bank Limited (UBL) has been selected as a case study to
study and analyze the adversities in the progress of internet
banking, particularly to the banking industry of Pakistan. This
study would help in assessing both recent and forthcoming
outlook of the risks and their classification in the bank. By
successfully identifying and evaluating the risks and other
important adversities, mitigation ways can be suggested in light
of current practice adapted by UBL to control and manage these
risks effectively.
A descriptive type of study is conducted through qualitative
data collection using primary and secondary date collection. The
banking sector of Pakistan was our target. According to the
analysis of the interviews and questionnaires it was found out
that as internet banking faces the constraint of lack of
awareness among the general public. It offers a new dimension;
people are hesitant to make use of it. However, as knowledge
about the procedures is increased and people become aware of the
benefits associated with internet banking, the decreased
ii
uncertainty in the target market will rapidly increase in
customers.
Internet banking is comparatively a new phenomena in Pakistan
therefore the percentage of those using internet for various
banking services is much lower than that of those people who
rely on traditional banking services and facilities. Most of the
customers prefer to get things done by the employees of the bank
rather doing this on their own.
