As explained earlier in chapter three the technological readiness of online banking customers defined as the person’s tendency to interact with technology based
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products. The technology readiness was also highlighted in chapter five and explained as one of the controlling factors in the theoretical framework.
The results of quantitative analyses for the technological readiness factors in chapter six and seven highlighted the following items, safety and type of business transaction, face to face factors, and readiness to provide banking information. Those items were retested qualitatively for the preciseness and validity of data analyses. Figure 8. 5 and Table 8. 6: Summary of Technological Readiness for online banking technology show the nodes on technological readiness of online bank customers.
Figure 8. 5: A screenshot of Nvivo 10 showing the nodes on technological readiness
Tree node No. of
Sources
No. of References
Technological Readiness 5 13
1 Face to face factors 7 7
2 Readiness to provide banking information 7 7 3 Safety and type of business transactions 7 7
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To explain technological readiness of online bank customers, participants were investigated in three areas. Those areas include face to face factors, readiness to provide banking information, and safety and type of business transactions. As it shows in Figure 8. 5 and highlighted in Table 8. 6, the overall answers or comments counted 13 answers fron 5 sources. The findings from the interviews regarding the three factors of technology readiness are described as follows:
Face to face factors: In this item participants were asked about whether or not the human touch is important for them when doing business with a company. All answers came for yes to the importance of face to face when doing business with a company and some answers went further and added that if security was provided with purely online banking channels they would use it. For instance, Interviewee 4 stated that, Yes face to face is important but sometimes not important if the online system for the business company is secured enough. Interviewee 6 was not so different as commented that, I think you can convince people with face to face transactions but online banking makes life easier. Readiness to provide banking information: In this part participants were asked
if they provided information over the Internet would they be sure that the information get to the right person. Participants answers were altered as some of them were not sure because of the Internet is an open environment and the information may be hacked. Interviewee 7 as an example stated that, I am not sure, because the network that is used by Internet might be hacked or affected by technical issues. However Interviewee 2 did not agree and indicated that, for company with which I have a long time business/transaction I can be confident but for those with which I am in business for not a long time coud be harmful for your business. However, company who have a good reputation will care more for their credibility..
Safety and type of business transactions: this part investigates participants’ and
seeking their opinions about the safety of doing business online. The answers on this part vary and participants’ views were divided into two, some of them said yes they agree doing business online at any time. However, the other views connected doing business online with the security of a company that intended to do business with.
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For instance, Interviewer 3 has no doubt of trusting the online business and noted that, I think so, I used to do it for to buy many goods and I think it is safe enough to this kind of business. Interviewer 1 however as an example of the second viewes stated that, I think it depends on the business bodies. If their reputation is trustful then no problem, but if there are no clear rules that can protect customers from fraud as the situation in Libya, I would not trust online business.
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8.5 Summary and Key Findings
This chapter looked at issues related to framework validity using qualitative method to validate results found from quantitative methods. In this chapter NVIVO 10 was used to validate the qualitative data and verify the results that were found in previous chapters such as chapter six and seven. This chapter relates to the previous chapters where theoretical and empirical framework was discussed and as a result four main areas were looked at. First, intention towards online banking technology in Libya was explored, and second customers’ beliefs in term of their online banking usage were investigated. The third area of this chapter looked at challenges that face customers when they intended to use online banking technology and finally, the fourth one explored the technological readiness of online bank customers.
The key findings from this chapter can be presented as:
The Intention to use online banking is affected by many factors but the main factor as found in the interview findings was the ease of use. The ease use factor in this chapter was divided into two parts depending on the place of online banking usage; the first is the usage of online banking in Libya, and the second is in the UK.
Online banking customers’ concerns of the challenges they face in relation to various issues such as privacy issues, reputation issues, security issues, technical and legal support issues, transactional issues, trust and risk.
The technological readiness of online bank customers reflects three factors that affect customers’ trust and accept of online banking technology. Those factors include face to face factors, readiness to provide banking information and safety and type of business transactions.
All factors regarding participants’ demographic profile which includes age, gender, and place of use.
Both demographic profile and technological readiness of online banking customers monitor the relationships for both theoretical and empirical framework.
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Chapter (9): Conclusion, Implications
and Directions for Future Study
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9.1 Introduction
The primary objective of the present study as mentioned in chapter one, is to provide a conceptual framework that determines the drivers of customers’ trust and acceptance towards online banking technology on the one hand and their relationship to the use of online banking, on the other hand. To achieve the research objectives the following questions were expressed: How are intentions towards the technology of online banking made and to what extent are they related to the actual use of online banking? (2) What are the beliefs that Libyan customers hold about online banking and how do these beliefs affect their trust of online banking? (3) What is the role of customers' trust and acceptance of online banking? (4) Are there any perception and acceptance differences between segments of customers on the basis of their technology readiness and demographic (gender and age) characteristics? In order to answer these questions, a systematic literature review was conducted.
Chapter two presented and compared the most important theories of customers’ behaviour and trust in the literature and suggested that the Technology Acceptance Model (TAM) was the most appropriate theory to be selected as a base for the framework. However it was acknowledged that the TAM’s fundamental constructs (perceived usefulness/advantages and perceived ease of use) are not enough to reflect upon the online banking trust and acceptance and therefore a need for additional variable was identified.
Chapter three clearly reviewed the field study which was Libyan banking industry and their customers. The chapter considered the moderating effects of two key personality characteristics technology readiness and demographics (age and gender). Chapter four positioned the current research within the Ontological, Epistemological and Methodological paradigms and selected drop and collect survey method for the main data collection process. This chapter was also mentioned interview as a data refinement and validation process. Chapter five summarised the literature review and integrated variables associated with technology acceptance constructs (relative advantages/Perceived usefulness, perceived ease of use), online banking challenges (, privacy issues, reputation issues, security issues, technical and legal support issues,
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transactional issues, and trust and risk), and customers’ personal characteristics (technology readiness, age and gender, internet experience, occupation, etc.) into a coherent theoretical framework.
Chapter six was presented the demographic profile of the sample and descriptive analysis of the survey responses. Next, statistical analysis including correlations and regression tests were curried in chapter seven. Finally in chapter eight, qualitatively confirmed and refined the findings and the hypothesised relationships were examined using Nvivo 10 software.
The final chapter discusses the findings of this research and explain their implications for theory and practice. It also points out the direction for future research.