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Example of the process in practice in the electronic banking market. ...
Electronic banking in the UK
As the environment within the financial services market is becoming increasingly competitive, there has been a pressure to develop alternative delivery channels, the most recent being electronic or online banking. The term electronic banking is a term used to describe the provide information or services by a bank to its customer via a computer or television. ...
Electronic or online banking is the newest delivery channel to be offered by the retail banks in many countries, there is a wide agreement that this channel will have a significant impact on the market
Additional insight into the banks adoption of a new channel is gained by exploring two new areas:
An organisations approach to innovation and their view of the current and future markets
· 25% of banks are offering online transactional services. ...
Electronic banking
Electronic delivery will have an impact on the future of retail banking (Johnson et al 1995)
· It is estimated that 60% of transactions will be made online in 10 years. ...
Electronic Distribution
This was reported by Rayport and Sviokia 1994, they highlight the difference between the physical market place and the virtual ‘market space’ which they describe as an information defined arena. ...
It is forecasted that the growth in direct delivery services and list the advantages of such a services as: The main advantages involves with electronic banking is it has increased customers convenience, boosted sales, orientation and lower cost.
Approximate Word count = 1135
Approximate Pages = 4.5
(250 words per page double spaced)
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