Standard Chartered: online banking service evaluation

Abstract

Standard Chartered Bangladesh has invested a great deal into setting up an infrastructure for the alternate banking channels it offers to its customers. The purpose of this investment is to make the banking experience of their customers more easy, convenient and accessible at all times without having to go through the trouble of spending time and energy travelling to one of their many branches for the desired service. This project is directed toward the evaluation of the service quality of the online banking system of Standard Chartered. Online banking is a part of a number of alternate channels that the bank provides, including eStatement and SMS banking. It is an efficient mode of transaction, accessible anytime and anywhere, with self-help features that allow customers to obtain transactional and select services of the bank using the internet. Online banking enables one to get a branch-like experience to obtain certain services without the costs, or loss of time and energy. It also helps make transactions paperless. The purpose of this study is to evaluate the service quality from the perspective of the customers and has been done by distributing questionnaires among the customers using the online banking facility of Standard Chartered. Their perceptions were measured using different questions pertaining to the quality dimensions of efficiency, fulfillment, reliability, security, contact, site aesthetics and responsiveness. The study aims to understand the relationship of the quality dimensions to the level of satisfaction the customer experiences in using the online banking service, the nature of the relationship, its strength, and the way and degree to which the dimensions influence the level of customer satisfaction.