Hello, and welcome to this Henry Stewart Talk on "Internet Banking".
My name is Kathryn Waite.
I'm a lecturer in marketing within
the School of Management and Languages at Heriot Watt University in Edinburgh, Scotland.
My research interest is financial services marketing,
with a focus on consumer empowerment,
adoption of the Internet,
within the distribution network, and workplace marketing,
and research in these issues within the pensions and retail banking sector.
The aims of this talk are to explore the factors
facilitating and hindering Internet banking,
and to examine the uses and users of Internet banking.
There are two key objectives.
First, as we shall see,
Internet banking adoption is linked to Internet adoption.
So our objective is to outline to you patterns of Internet banking adoption.
Second, Internet banking is a form of self-service technology.
So we'll be looking at the characteristics,
advantages, and disadvantages of self-service technology.
Before we examine Internet banking in detail,
it is important to identify the general characteristics of the Internet.
First, the Internet is a dual medium.
This means it can be used for communication and distribution purposes.
As consumer can search online for information and purchase goods online.
Second, the Internet is accessible 24/7,
that is 24 hours, seven days a week,
and is subject to no time constraints.
For example, a web server is usually online 24 hours per day.
Third, it is global.
Global information networks permit worldwide,
large-scale and low-cost access to the Internet,
both organizations, and consumers.
Fourth, the Internet is interactive.
It supports two-way communication.
It allows companies to gather more information about customer characteristics,
allowing for precise targeting of information,
and also allowing the customer to respond quickly to this communication.
Fifth, the Internet is dynamic,
web page design and content can be updated,
unchanged at low-cost, quickly and simply.
Sixth, the Internet is multimedia friendly.
There are a variety of ways of delivering information,
including text, graphics, and sound.
This enriches the opportunities for the promotion of financial services.
Any business opportunity for using the Internet is closely