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An Exploration of Factors Hindering the Adoption of Internet Banking among Corporate Customers

Authors:

KPL Chandralal ,

University of Sri Jayewardenepura, LK
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LHT de S Wicramasooriya

University of Sri Jayewardenepura, LK
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Abstract

This research investigates the factors which may prevent the adoption of Internet Banking (IB) by corporate customers in Sri Lanka. Eight influencing factors were identified through the literature survey. Sample of the study consists of 105 corporate customers in the Colombo city of which 55 were non adopters.  The non adopters were selected for the study to reveal their views of using IB. Data were collected through a field survey by using a questionnaire during January 2008 to June 2008. Hypotheses were tested using one sample t-test. The results show that perceived reliability, management attitudes and IT resource issues are not the major barriers behind the non adoption decision of IB among corporate customers. Conversely to some extent, inadequate perceived benefits of IB, strong desire for human interaction, lack of legal protection, misuses and losses and risk perception are major concerns among non adopters. The paper concludes therefore, that commercial banks need to communicate the benefits of IB through proper customer education and reduce risk perception by making customers aware of the mechanisms adopted by banks to prevent IB misuses. The paper also stresses the need for sound legal support to protect customers from possible internet banking misuses.

Sri Lankan Journal of Humanities and Social Sciences Vol.1(1) July 2009
Keywords: internet banking
How to Cite: Chandralal, K. and Wicramasooriya, L. de S., 2010. An Exploration of Factors Hindering the Adoption of Internet Banking among Corporate Customers. Sri Lanka Journal of Humanities and Social Sciences, 1(1), p.None.
Published on 09 Dec 2010.
Peer Reviewed

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