Abstract
A Study on Customer Difficulties in Accessing E-Banking Services in Chennai – Banking plays a vital role in the economy. Without money people cannot afford their living. There are frequent transactions between accounts and banks every single day. Nowadays, to make it even easier for people to make their transactions, E-banking is introduced. This helps them to withdraw money and also to transfer it by just some taps on their mobile phones, tabs or laptops. Though it seems easy, it also has its other side which is more of problems like hacking, technical errors, wrong transactions etc. This study focuses on the major problem which is faced by people, that is the security and privacy. This factor is very much important as it has the full database of the customers. This cannot be made extinct but can reduce the affected percentage by taking some security and privacy protocols. This study also checks how customers are relaying on the E-banking services. The suggestions of using the two factor authentication, voiceprints and some strict rules by the government can surely reduce the problems in security and privacy.
Introduction
The project titled “A Study on Customer Difficulties in Accessing E-Banking Services in Chennai” focuses on the services which are availed by the banking sectors through electronic mode. As technology is growing rapidly we could see how banking sectors are improvising their services which satisfy its customers. Most of the services are provided in electronic mode (E-Banking) which is also known as “Green Banking”.
Electronic Banking is done on a software platform that connects the customers using online through the internet. This form of banking is highly encrypted which avoids leaking of one’s bank details with others. It also works as a tool to win over the customers by providing the best services for people without approaching the bank for making a transaction.
E-Banking helps to transfer cash, print paper documents, applying for various loans, for making a single transaction. Now they can make a transfer just by a single tap using mobile phones, tabs and desktops. The E-Banking services are provided 24/7 for the customers designed for their easy access to their bank accounts.
All banking institutions like ICICI, HDFC, Citibank, etc have provided the electronic payment facilities for its customers in its best own way. Customers who are satisfied with these facilities endow with their loyalty toward the banks. Paying bills, and receive documents online. This service is very convenient and is quick to make payments. It also saves time for the customers which avoid waiting for hours in the bank.
Uses in E-Banking
- E-banking helps people to make money transactions from one account to another within minutes. This reduces loss of time and is quick in making transactions.
- Almost most of the banks are having this online facility to cope up with the modern technology.
- It helps in making payment on one’s loan, insurance, bills etc.
- Anyone can opt for loan through the e-banking. According to the credit score calculated, the bank provides them with loans.
- E-banking saves lot of time and transition cost than to while away time in bank for hours.
- All the financial information can be known from one’s mobile phones, laptop, tabs, desktop etc anytime and from anywhere.
- There is lesser work load and chances of fraud can be minimized.
- It is very easy to make utility payments anytime and anywhere.
Challenges in E-Banking
- There is privacy and security problem which make the people feel insecure from not using the e-banking services which is offered by the bank.
- People are still afraid in exposing their financial details in online platform like debit card details while paying bills and transferring amount.
- Some websites may be in default condition.
- Payments process sometimes may be delayed.
- Debited and credited amount information can be received slowly.
- Illiterates find it very difficult for using the E-Banking services as they don’t know to operate.
- Simple mistakes by clicking any wrong button may cause big problem.
Scope of the Study
The major scope of study, on the topic “A Study on Customer Difficulties in Accessing E-Banking Services in Chennai.” is to find out the problems and issues faced by every customer while making a transaction. As the process is done in online platform there would be many challenges to overcome while using such technologies. This research will help to know the types and kinds of problems and challenges that are faced and the rectification and solution of those issues. This research also measures the customer’s point of view on Electronic Banking as a whole with reference in Chennai.
Components of a Project Report
A project report varies according to the MBA final year project course at top colleges, depending on the consequences and the requirements of the concerned project. But broadly, a project covers the following components:
- Title page
- Table of contents
- Introduction
- Background of the project
- Project objectives
- Methodology
- Results
- Discussion and Analysis
- Conclusion
- Bibliography or references
- Appendices
Project Report Pages : 80
Can be used in : Finance Final Year Project
Delivery Time : Within 2 hours.
Support / Query : Call +91-7449000533
Email [email protected]
