INTERNET BANKING IN SAUDI ARABIA

Abstract

E-banking is one of the technological banking advancement methods that are being adapted by the banks in the current world. This advancement has created competition within the banking sector the desire to ease the internet banking effectiveness has created increased burdens on the financial institutions to use and conceptualize different channels of banking services delivery with the vision of attracting more clients and improving the perceptions of satisfaction in these customers as well as empowering their loyalties. The Saudi Arabian banks have started to integrate the Internet-based e-banking frameworks in the portfolios of banking conveyance to expand the effectiveness and efficiency of their banking services and reduce the associated operations costs. This study is to evaluate the perception of the customers on the bank’s provision of e-banking using cross section survey which is distributed to 103 e-banking users. The results indicated that there was strong perception on the e-banking impact on the growth and development in Saudi Arabia. Furthermore, there was significant impact of e-banking among the young people in Saudi Arabia. Nonetheless, there is still a need to increase the awareness in the use of e-banking in order to increase the competition advantage.