Bank Branches and COVID-19: Where are Banks Closing Branches during the Pandemic?

FEDS Notes ◽  
2021 ◽  
Vol 2021 (3025) ◽  
Author(s):  
Kimberly Kreiss ◽  
Keyword(s):  
Financial Services ◽  
Online Banking ◽  
Bank Account ◽  
Bank Branches ◽  
Steady Rate

In the decade prior to the COVID-19 pandemic, bank branches were closing at a steady rate. Additionally, households with a bank account increasingly adopted mobile or online banking for at least a portion of their banking needs. As COVID-19 dramatically changes the desire and willingness for consumers to have in-person interactions, it may accelerate both of these trends and lead to a permanent shift in how people access financial services.

scholarly journals How customers’ offline experience affects the adoption of online banking

2016 ◽  
Vol 26 (5) ◽  
pp. 1072-1092 ◽  
Author(s):  
Antonia Estrella-Ramon ◽  
Manuel Sánchez-Pérez ◽  
Gilbert Swinnen
Keyword(s):  
Technology Acceptance ◽  
Diffusion Of Innovation ◽  
Financial Services ◽  
New Technologies ◽  
Online Banking ◽  
Adoption Process ◽  
Content Type ◽  
Parametric Survival Model ◽  
Self Service Technology ◽  
The Impact

Purpose The purpose of this paper is to examine the impact of customers’ offline transaction behaviour in the form of loyalty and cross-buying on the adoption of self-service technology innovations by non-business customers in the context of online banking. Design/methodology/approach This study extends the Diffusion of Innovation Theory, as well as the Technology Acceptance Model adapted to describe and model individual customer observed behaviours in the pre-adoption stage of the adoption process. The Log-logistic parametric survival model is applied using panel data for 1,357 randomly selected new customers from a bank. Findings Significant differences arise among customers’ behaviours related to periodicity of interactions with the bank and quantity of products involved in the interactions, as well as convenience and risk of the interactions. The results corroborate that those customers who are more likely to adopt the online banking faster show an offline behavioural pattern more related to higher periodicity of interactions and convenience, rather than a high number of products involved in their interactions, the use of high-risk products or the maintenance of a higher average monthly liabilities. Originality/value While previous research explaining the process of adoption of the online channel has mainly focused on the analysis of customers’ attitudes (i.e. customers’ perceptions) and demographics, in this research an additional explanation is proposed using customers’ offline transaction behaviours. In addition, there is a considerable amount of research about the adoption of new technologies, but there is a scarcity of studies looking specifically at the financial services and banking industry.

scholarly journals MODIFIED SERVQUAL MODEL AND EFFECTS OF CUSTOMER ATTITUDE AND TECHNOLOGY ON CUSTOMER SATISFACTION IN BANKING INDUSTRY: MEDIATION, MODERATION AND CONDITIONAL PROCESS ANALYSIS

2017 ◽  
Vol 18 (5) ◽  
pp. 974-1004 ◽  
Author(s):  
Rizwan Raheem AHMED ◽  
Jolita VVEINHARDT ◽  
Dalia ŠTREIMIKIENĖ ◽  
Muhammad ASHRAF ◽  
Zahid Ali CHANNAR
Keyword(s):  
Factor Analysis ◽  
Customer Satisfaction ◽  
Financial Services ◽  
Banking Sector ◽  
Banking Industry ◽  
Process Analysis ◽  
Perceived Value ◽  
Online Banking ◽  
Foreign Banks ◽  
Banking Service

Banks are very important financial services sector, and in banking sector there is an intense competition amongst the local and foreign banks throughout the world. The objective of this research is to analyse the effects of perceived value and customer trust, and role of technology in banking service qualities and customers’ satisfaction in Pakistani context. For this purpose we employed modified SERVQUAL model with four dimensions such as empathy, competence, reliability, and online service. An adapted questionnaire was used to carry out this survey research, and collected 830 responses from the customers of Pakistani banking industry. We used factor analysis, confirmatory factor analysis, and bootstrapping methods to carry out this research. The results of the study demonstrated that our four-dimensional model of modified SERVQUAL has a significant impact on overall customer satisfaction. It is further concluded from the bootstrapping method that modified SERVQUAL dimensions and customer satisfaction are positively mediated by the perceived value and trust. Finally, it is also concluded that the implementation of technology serves as moderating variable in the banking sector. The outcomes of this research are beneficial to the senior management of banking sector in order to implement the effective and customised online banking structure to gain competitive advantages, and provide vibrant online banking services that enhance the standard and ease of services to the customers and earn their confidence. The originality and novelty of this research provide a significant contribution in the application of SERVQUAL model specifically for the banking service quality dimensions and customer satisfaction in marketing research.

Global E-Banking Trends

2010 ◽  
pp. 1-16
Author(s):  
Sujana Adapa
Keyword(s):  
Financial Services ◽  
Management Strategies ◽  
Distribution Channel ◽  
Distribution Channels ◽  
Alternative Strategy ◽  
Future Directions ◽  
Bank Branches ◽  
Industrialized Nations ◽  
Traditional Mode ◽  
The Impact

The traditional mode of delivering products and services by banks to the consumers’ is through a single distribution channel and that is physical bank branches. Financial services industry is metamorphosing due to the advent of internet, rapid technological evolutions, deregulation, globalization as well as the impact of changing competitive and regulatory forces. In order to cope with the quick changes in the business scenario, banks started to rely on distribution channels as an alternative strategy for differentiation and gaining further competitive advantage. The abovementioned paved way for the development of the ebanking phenomena. This chapter attempts to provide a comprehensive explanation of what ebanking is, the evolution of ebanking, existing trends of ebanking in developed, developing and newly industrialized nations, future directions for further possible research and concluding remarks. The content provided in this chapter would be useful for existing and potential banks to better understand the global ebanking trends and thus aid in the effective formulation of channel management strategies and reap the benefits out of it.

Spatial analysis of the distribution and determinants of bank branch presence in Ghana

2015 ◽  
Vol 33 (3) ◽  
pp. 201-222 ◽  
Author(s):  
David Ansong ◽  
Gina Chowa ◽  
Bernice Korkor Adjabeng
Keyword(s):  
Spatial Distribution ◽  
Financial Services ◽  
Banking Sector ◽  
Cost Effective ◽  
Bank Branch ◽  
Content Type ◽  
Bank Branches ◽  
Rural And Urban ◽  
Spatial Analyst ◽  
Branch Banking

Purpose – Expanding access to financial services for the 70 percent of Ghanaians who are unbanked is critical. Bank branches have been the primary channel for financial service delivery, but this may be changing because of technological innovations. Analysts believe branch-based banking still has a role in promoting financial inclusion. The purpose of this paper is to examine the pattern of bank branch presence across rural and urban Ghana; the disparities in the spatial distribution of domestic, foreign, and rural and community bank branches; and the district level characteristics associated with the pattern of spatial distribution of bank branches. Design/methodology/approach – The study uses spatial analyst tools, geographically weighted Poisson regression, and data from Ghana’s banking sector to show the inequality in availability of branch-based services and to highlight the district and regional level differences in the determinants of branch allocation. Findings – The study finds evidence of inequality in access to financial services. Physical bank branches are disproportionately more accessible in the urban south compared to the rural north. The study also finds that population size, percentage of urban residents, workforce size, and literacy level are associated with bank allocation but the results vary by district. Practical implications – Branch banking needs modernization to continue to bring financial services in closer proximity. Development of physical and electronic infrastructure could attract financial institutions to serve deprived areas with significant concentration of unbanked populations. Originality/value – Findings of the study point to the need for banks to re-envision branch banking technology to make branch banking more interactive. Banks need to find ways to fuse transferable elements of mobile phone banking into branch-based banking, not just to attract younger technology-savvy customers but also to help make operations more attractive, efficient, and cost effective.

scholarly journals Analysis of Electronic Payment Systems in Ghana - A Case Study of Mobile Payment System

2018 ◽  
Vol 6 (06) ◽  
Author(s):  
Francis Agbenyegah Kwadzo ◽  
Regina Kafui Adroe ◽  
Dr. Michael Asante
Keyword(s):  
Mobile Phone ◽  
Financial Services ◽  
Banking Sector ◽  
Mobile Payment ◽  
Electronic Payment ◽  
Payment Systems ◽  
Next Of Kin ◽  
Bank Account ◽  
Mobile Money ◽  
Money Transfers

Mobile payment is an electronic payment made through a mobile device. As the number of mobile phone subscribers in Ghana increases, so does the market for mobile money services. The majority of Ghanaians lack any formal bank account. An estimated 80 percent of Ghanaians are “unbanked” – meaning they conduct their transactions outside the banking sector with no access to financial services. Products like “mobile money,” that enable safe and secure money transfers without the use of a bank account, could have a major impact on this unserved segment of the population. Mobile money gives anyone with a mobile phone the ability to transfer money, make cash payments and conduct other financial transactions over the phone. Currently, there are four mobile money payment systems in Ghana, namely, MTN mobile money, Vodafone (VF) cash, Tigo cash and Airtel money. For an effective operation of these systems, Privacy, Traceability, Cost of Transaction, and Simplicity of the Processes involved are of much interest. The study examined the loopholes in the current mobile payment systems and proposed a framework to address the loopholes such as: Entering of information on next of kin into the system during registration, acceptance of year of birth as PIN, transactional PIN decrypted, no entering of a Valid ID number into the system, no provision for security word during token cash out, no provision for guarantor information, no provision for BoG permit number, no provision for police clearance number, and data in transit not encrypted. Keywords: Transactions, mobile money, traceability

scholarly journals Protected Banking Verification By Figure Pixel Comparison And Bitcoin Transaction Using Blockchain

2021 ◽  
Vol 12 (6) ◽  
pp. 316-320
Author(s):  
M.P.Karthikeyan Et.al
Keyword(s):  
Online Banking ◽  
Online Information ◽  
Secret Key ◽  
Significant Issue ◽  
Security Issue ◽  
Bank Account ◽  
Banking Services ◽  
Secret Information ◽  
Electronic Service ◽  
Exchange Information

E-banking is a safe, fast, easy and efficient electronic service that enables you access to bank account and to carry out online banking services, 24 hours a day, and 7 days a week.Through web, clients can get to their record from anyplace on the planet. Acknowledgment of substantial customer is a significant issue in E-banking. The security issue emerges because of unavoidable hacking of banking web. Duplicate sites are a sort of online information deception that hopes to take secret information, similar to e-money passwords and money exchange information from clients. Hence a structure having figure pixel appraisal for purchaser approval principally based barring chain strategy. In the proposed framework, for each money given up by the customer, we produce an ID for every cash, when any aggregate of sum is moved, the ID of the monetary forms may be moved, so we can follow the method for the money going around.Thus, the graphical secret key has been proposed with the guide of numerous scientists as a chance to content based secret key. Usage of hyperlink chain graphical secret key which utilizes round resilience makes the framework more made sure about than current.

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