12 Questions
What has been used by banks for over 40 years to transmit account information over private communication networks?
Electronic fund transfers (EFT)
Which activity heavily depends on information technology to acquire, process, and deliver financial information to users?
Internet banking
What did the rapid growth of internet banking help the banking sector to encourage customers to do?
Bank over the internet
Which technological advancement made significant operational changes to internet banking?
Information technology advances
What aspect of traditional banking services did internet banking help reduce?
Transaction costs
What is a new concept of conducting banking transactions that has captured the interest of many banks as an alternate way to traditional banking?
Internet banking
What are some factors that encouraged Banks to adopt internet Banking?
Increase in the number of internet users
How are internet banking services described in comparison to traditional ones?
More attractive and convenient
What is believed to improve customer satisfaction according to the text?
Faster, easier, and more convenient service
Despite being introduced 15 years ago, what is the current status of internet banking adoption by Jordanians?
Still low
What model is used as the foundation to determine the predictors of customers' intention to use internet banking in Jordan?
Technology Acceptance Model (TAM)
What is one of the areas where little research has taken place in relation to internet banking acceptance according to the text?
Middle East
Study Notes
- Banks have been using electronic fund transfers (EFT) and electronic data interchange (EDI) for over 40 years to transmit account information and computer-readable data in a standard format.
- Internet banking has emerged as a new concept in banking, heavily reliant on information technology for acquiring, processing, and delivering financial information.
- Advancements in information technology have significantly changed the operational landscape of internet banking, making it a fast-growing area for businesses.
- Internet banking has helped reduce transaction costs of traditional banking services by eliminating the need for physical branches, reducing paperwork, and streamlining processes for both banks and clients.
- Despite being an early adopter of internet banking in the Middle East, Jordan still faces low adoption rates among its citizens, despite substantial investments in upgrading the necessary technology infrastructure.
Explore the evolution of electronic fund transfers (EFT) and the introduction of internet banking in the banking sector. Learn about the transmission of account information and computer-readable data over private networks and the adoption of internet banking as an alternative to traditional methods.
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