Buy essay on Customer contentment through Internet Service Quality: Online Banking Relationship in Saudi Arabia

Today, the development of online banking is one of the mainstream trends in the development of the modern business. In this respect, it is important to lay emphasis on the fact that the development of the online banking spreads worldwide, including such countries as Saudi Arabia. The development of the banking industry in Saudi Arabia stimulates the fast introduction of new technologies that facilitate the development of business and, simultaneously, contribute to the rise of the customer contentment through the quality of Internet services. At this point, it is worth mentioning the fact that that customers are growing more and more concerned with the quality of online banking services because the development of modern information technologies and telecommunication systems allow customers to use Internet for online banking operations. In such a situation, many banks in Saudi Arabia attempt to improve the quality of banking services through the introduction of online services. In actuality, online banking services are widely-spread, although these services are relatively new for Saudi Arabia. At the same time, the introduction of online banking services is a logical response of banks in Saudi Arabia to new trends in the development of modern technologies. In fact, modern technologies accelerated the development of online banking, whereas the integration of Saudi Arabia in the global economy stimulated the faster introduction of online banking services because they facilitate purchases and transactions. At the same time, the development of online banking is not just a response of the modern banking system in Saudi Arabia to technological innovations and new trends but also an essential step to increase the customer content through the rise of internet service quality. In fact, the demand on online banking services grew steadily along with the wider use of new information technologies by customers. The introduction of online banking facilitated the bank-client relationship and increased the customer contentment with banking services.
Research Question:
In such a context, the development and the wide introduction of the online banking services is an essential step undertaken by many banks in Saudi Arabia. At the same time, the question of the impact of the online banking on the customer contentment persists. To put it more precisely, the main research question is whether the online banking services can increase the customer contentment or not. At the same time, it is possible to expand the research question and find out what possible effects of the development of online banking on bank-customer relationships are and the extent of their impact on the customer satisfaction.
Aims:
The major aims of the research are as follows: first, it is necessary to find out the impact of online banking services on the customer contentment in Saudi Arabia; second, the research should reveal the interdependence between the rise in the customer contentment and the development of online banking services; third, it is necessary to find out possible effects of the introduction of online banking services on the bank-customer relationships.
Objectives:
The main objectives of the study are the research of the current trends in the development of the banking industry in the context of the customer contentment. In addition, it is important to find out the current trends in the development of the bank-client relationship and the evaluation of the extent to which this relationship is vulnerable to the impact of online banking services.
Literature Review
In actuality, many researchers (Benfari, 1999) point out that the development of the online banking is one of the most prospective trends in the development of the modern banking industry. In this respect, specialists (Gomory, 2002) argue that the modern banking system in Saudi Arabia is capable to introduce electronic transactions en masse and make them the main way of transactions. At the same time, modern technologies, including the development of Internet, information technologies, modern telecommunication systems, and other technologies, allow customers to use and manage their bank accounts online. In such a way, clients become more independent of their banks in regard to their physical location. What is meant here is the fact that customers can manage their bank accounts wherever they have access to Internet. They may use their PCs as well as mobile phones. In such a way, the online banking makes banking services available to customers en masse without any physical limitations. Hence, the customer contentment will increase proportionally with the easiness and effectiveness of using online banking services.
On the other hand, some specialists (Carter, et al, 2003) warn that the development of online banking services in Saudi Arabia is accompanied by certain risks which can decrease the customer contentment with online banking services. In this respect, the major risk is the risk of the identity theft and the unauthorized use of money of customers which can be stolen from banks using modern information technologies and frauds. In such a way, the introduction of online banking services can lead not only to positive but also negative outcomes in regard to the customer contentment.
Furthermore, many specialists (Weiler, 2002) argue that the development of the modern online banking services in Saudi Arabia needs substantial investments in the development of the modern banking system and the spread of Internet throughout the country to reach a possibly larger number of customers. In such a way, the customer contentment may face another problem – the problem of the lack of access to Internet and online banking services. This situation may be paradoxical because, on the one hand, there are online banking services, whereas, on the other hand, there is the under-developed infrastructure. However, specialists (Khor, 2001) stress that this problem is provisional and this problem will be eliminated in the nearest future because technologies and internet are spreading fast in Saudi Arabia. Therefore, it is possible to presuppose that this problem will not interfere into the bank-customer relationship and it will not decrease the customer contentment with online banking services.