CUSTOMER SATISFACTION IN INTERNET BANKING Essay

CUSTOMER SATISFACTION IN INTERNET BANKING - Essay Example More evidences and marks of banking activities are found in the ancient times as well. In fact, the word digs its origins back to the Ancient Roman Empire, where the moneylenders used to set up their stalls in the middle of enclosed courtyards called macella on a long bench called a bancu, from which the words banco and bank are finally derived. The merchant of the bancu, being a moneychanger, simply converted foreign money the Imperial Mint, the sole legal Roman tender. He did not invest a lot of money. (Matyszak & Philip 2007). A banker or bank has been in the status of a formal financial institution whose primary activity is to serve as a payment agent for customers to borrow and lend. The name of the first modern bank was Banco di San Giorgio or the Bank of St. George which was established in Italy at Genoa during the year 1406. As the human life style started ticking faster, the modes of transaction also indicated a shift to fit in the pace of the human wants, movements of goods and services and the time value factor that became crucial. The paper is concentrating on the aspect of one of the modern banking pattern; most contemporary and commonly known as the internet banking and the customer satisfaction in its service. The precursor for the modern day’s home or office based internet banking services were the distance banking services over electronic media from the early 80s. the late eighties saw the popularity of internet rise and this brought with it the utility of a keyboard, monitor and terminal. The phone might or might not have been used in the process. Home banking can also refer to the use of a numeric keypad to transmit tones through a phone line with instructions to the bank. In 1981 four banking giants of New York, Citibank, Chase Manhattan, Chemical and Manufacturers Hanover began to re nder home banking service through the application of internet and this marked the