M.A. / The evolution of the Internet has led to the establishment of various value-adding products and services such as Internet banking (IB). Internet banking has changed the formal banking landscape forever. Some may argue that Internet banking has positively affected the lives of many, through providing services in a more convenient, efficient and effective manner, 365 days a year. However, the growth of the Internet has lead to the increase of various Information Technology (IT) problems and challenges. Today, individuals and organisations are faced with an increasing number of attacks via computer and Internet viruses, phishing scams and Internet hackers. Individuals and organisations must place greater emphasis on ensuring that their financial well-being is protected. The investment in adequate software and hardware has become critical to conduct financial transactions securely via the Internet. The level of security awareness should also be increased and established at various levels through comprehensive educational programmes. Extensive Internet banking awareness campaigns have been launched, but the level to which these campaigns are successful is uncertain. The main focus of this dissertation is to understand Internet banking customers’ perceptions on information protection when using Internet banking services and products, as various factors influence the perceptions of trust with regards to Internet banking. Trust is formed through a variety of factors from the influence of others on our own beliefs and values, to the experiences gained by using specific technology or processes over a particular period of time. An in-depth literature review forms the basic framework for the dissertation and is followed by an empirical component. The main goal of the literature review is to provide a solid theoretical framework and basis from which to conduct the empirical research. Chapters 2 to 4 delve into the evolution and development of the Internet and provide a perspective on the South African banking landscape. The various challenges the Internet banking domain is faced with, is explored, and the various opportunities that exist are extensively discussed. Trust, the major factor influencing the adoption of Internet banking services and products, is explored, and the factors that shape and diminish trust are discussed. The empirical study consisted of a close-ended questionnaire that was completed by a sample of University of Johannesburg (UJ) alumni. The study included 138 individuals who completed the close-ended questionnaire and the results were analysed by Statistical Consultation Services (StatCon), a statistical research unit within UJ. The results indicate that more should be done to ensure that individuals and businesses are well-versed on issues pertaining to Internet banking security and safety. The results further highlight that the quality of most of the individuals’ relationships with their formal bank branch diminished due to Internet banking. An interesting finding was that 80.7% of the respondents indicated that they would make use of Internet banking services and products, even though they are aware of fraudulent activities that take place via this Internet medium. The research findings provide financial institutions with valuable guidelines on how to plan and implement effective and efficient Internet banking education and awareness strategies.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:uj/uj:8909 |
| Date | 01 August 2012 |
| Creators | Redlinghuis, André Jacques |
| Source Sets | South African National ETD Portal |
| Detected Language | English |
| Type | Thesis |
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