However, consumers are all the time becoming more technologically aware, and their distrust of technological innovation may be lessening.
Mobile technologies for communications, for accessing the Internet and for mobile commerce transactions are being adopted extremely rapidly; indeed, over the few last years mobile devices have become the consumer product that has been most quickly adopted to date Dholakia et al.
These are as a result of the inappropriateness of motivational strategies that have beclouded the banking industry over time.
Customer data plays an important role in allowing banks to connect with customers in a personally relevant way and provide value that is less likely to be matched by third party apps. Interestingly, one of his six hypotheses also reviewed that people of different education levels differ in their preferences for performance and payment.
Figure 2 outlines electronic banking customer uptake estimates for Europe, US, South Korea and Japan in the years In the financial services industry, the major changes brought about by developments in information technology involve particularly the link between consumers and firms, and the generation of new service products Devlin and Wright He discovered that performance depends very much on a credible supporting performance management framework that is fair and consistently applied.
Methodology The study adopted the correlational design. Steve L.
Therefore, the innovation of the study in Nigerian banking industry cannot be overstated. Undoubtedly, there has been a reshaping of the behavioural patterns that exist between consumers and their financial institutions.
One is led to consider whether reluctance to change banks is based on strong feelings of loyalty, or merely to high costs deriving from the need to compare various service offerings often of considerable complexityto change bank cards and electronic banking key codes, and so on Harrison