Alan Bryman, Duncan Cramer. Quantitative Data Analysis with SPSS 14, 15; 16: A Guide for Social Scientists. 1 edition, Routledge, (2008). 381 pp., Paperback, Language: English.

Introduction

For the last 25 years the banking industry has very fast evolved to become one of the leading industries in the world. The frequent checks being written and the many officials charged with the duties of performing money transfers are no longer there. What is remaining is a group of employees mainly IT experts who assist the banks monitor and install technologies that can do what the bank officers could do. Most of the traditional banking jobs have been replaced by money management and electronic money transfers. The changes that have been caused by online banking are enormous for example online money systems are used for payment of online, management sites.

Hypothesis

There are great impact online banking has had on financial institutions specifically Barclays and Santander banks, the customers and employees. As a result of this innovation there have been many benefits that came and that is the core objective of this paper to examine these benefits and the challenges or disadvantages that came with the technology.

There is clear productivity growth become even more noticeable in these banks especially from the year 2000 but at the same time with an increase of online banking services came and an increase of issues related to online banking.

Investments in is slowly but surely substituting the labor these banks use.

Conclusion

The impact of ICT o n the market structure and the safety of this technology on the bank and its customers is also be examined in the paper. All these started in the early 1980’s when the online banking was first introduced as home banking system. It was very much reliant on phone lines, most of this developments too k place specifically in the US New York to be specific. It was mainly started by city bank and chase bank together with three other financial institution that are nor popular in the US. Many of these issues have been overcome with time but up to date Barclays and Santander banks among others in the sector are still struggling with some of those challenges. The trend however is promising because the statistics show them to as time goes by moiré and more of these electronic obstacles are overcame.