The marketing implication of the online banking in Malaysia

Introduction Malaysians are beginning to realize the convenience of online banking and investing, despite the position that online banking trends in Malaysia are still at its infancy be and most grosss come from corporate banking clients. With the increase in awareness and education of the general public, banks are beginning to mint the online contrive a bun in the oven as a positive step to decrease cost and increase revenue by reducing staff and complication networks. The four states, which have the most profits bank theme holders, were from Selangor, Wilayah Perseketuan, Penang and Perak. People in the major states tend to be more receptive of the internet since they have greater exposure on the usage of uphill technologies. Out of the 56 licensed banking institutions including immaterial ones in Malaysia, about(predicate) 11 currently offers online banking services. The main priming for non conducting online banking was due to the item that the users felt no r equire for much(prenominal) a service. Other reasons intromit the lack of acquaintance on internet banking, lack of amour in such services and the fear of online fraudulence. Recent efforts by banks show they are unbidden to invest heavily in online banking initiatives even without seeing the returns on investment yet (IDC, Malaysia crunch Releases 2002).

Although the number of Malaysians going online is easily small as compared to some other nations across the globe, banks in Malaysia should not lag behind the changes of technology especially since the Malaysian fiscal industry is poised to cleared its do ors to foreign banks by 2005. To baptismal ! font the competition from globalization, local domestic banks must fully expend the internet to mitigate their efficiency and profitability. Online Banking in Malaysia Online banking was introduced as a new resource delivery channel for products and services provided by banks. Online banking virtually conventional bank branches at... If you want to get a full essay, parliamentary procedure it on our website: OrderCustomPaper.com

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