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Consumer behavioral changes in internet banking Cheung, Vincent Wing Shun


This paper investigates how bank customers behave differently when using Internet banking. It also explores how these behavioral changes affect banks as well as the future development of Internet banking. The study utilized the Delphi technique, a structured communication process that aids a panel of experts in the investigation of a problem. Twelve managers from three banks participated in this three-phase study. In phase one, these experts were asked to identify potential behavioral changes and predict the probable impact of these changes on banks. In phase two, they were asked to comment on each behavioral change and the related impact, and to rate each item on a seven-point scale. For phase three, the comment and the average score, for each behavioral change, were presented to the panelists, and they were asked to rate the behavioral changes again. In the study, nine behavioral changes of Internet customers were found to be significant. They include: (1) familiarity with bank products and services (2) high expectation in services (3) self-service attitude (4) a reluctance to provide personal information (5) a tendency to use banks for various services (6) the requiring of sophisticated coordination among multiple accounts (7) responding less frequently to on-line advertising (8) open to new products and services (9) frequent usage of banking services. Banks could expect to be impacted by these behavioral changes in a number of ways. For example, banks would have to service customers through multiple channels. Customization of services would become increasingly important. In addition, banks would also have to design creative ways to promote services.

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