Purpose of the Project

This paper seeks to come up with factors that affect the perception of UK customers to Internet banking. While some customers are in support of the new development in the banking sector, othersare still applauding traditional banking methods. It is worth noting that banking is an essential process in an economy that facilitates the movements of people andservices. Nonetheless, it is often influenced by factors such as privacy, security, ease of use, and other factors.

It is critical for banks to be in a position to evaluate as well as understandfactors that shape the decisions ofcustomers. In the past years, there have been many efforts seeking to ensure that there is the adoption of online platforms. The move is in line with the objective of many banking institutions to expand their operations to a global scale. The introduction of online platformsthus implies that there is the ability to accessservices at any time of the day without any restriction in terms of geographical regions.

Past studies have only focused on the evaluation of the satisfaction and dissatisfactionlevel of customers on goods and services. However, there have been minimal efforts to determinefactors that drive eithercontentment or displeasure. Despite the huge potential that comes with Internet banking, it is worth noting that the topic remains under-researched. Coming up with ways that the perceptions of customers can be positively shaped and their question on Internet banking addressed would translate to a higherclient base. Not only would this lead to an ease of accessing services, but it would also lower the operational costs of UK banks.
The Planned or Desired Outcomes

The outcomes that are likely to come out during the study will revolve around factors such as security, ease of use, and privacy. Theseare the mainconsiderations made by customers while seeking banking services. Online platforms have in the past had some share of problems such as hacking and data breaches. There is a segment of customers that are likely to point out the vulnerability of online platforms, and,thus, will prefer traditional banking. However, young and educatedindividualswith adequate computer knowledge would be less concerned about past data breaches as there are many ongoing measures to boost security such as using strong firewalls.

Privacy is another issue that is likely to come up during the study. Bankinginformation is sensitive and confidential, thus, with any leak of datacreates great risks. Customers would thus be concerned about how secure their private information can be entrusted toindividuals whoaccessit as well asmeasures that have been put in place to secure suchinformation. There will be thus queries directed towards the privacy policy of the banking industry. The last issue is ease of use of online platforms as compared to traditional banking. Traditional banking is often restricted to day-timeoperations, but online banking is not constrained to either time or geographicalboundaries, thus creating the likelihood that many customers will support Internet banking.

Research Design

The study will use secondary data where there will be a detailed analysis of the factors that shape the banking perceptions in the UK using different financial statement reports, customer feedbacks, banking companies’ information reports, research paper, and feedback from financial institution dealers in the UK.  The study will analyse interviewsfrom past research papers wherecustomers were giventhe opportunity to explain factors that prompt them to use either Internet banking or traditional banking.

There will be the inclusion of the theory of reasoned action as it will outline howcustomers are rational and conscious beings, and, thus, likely to consider numerous optionsduring decision-making. It is an ideal theory in evaluating the factors that shape the behavior of customers. There will also be the use of the TechnologyAcceptance Model thatexplores factors that lead to eitheracceptance or rejection of technology.

The sample size is small as it seeks tofeature only 100 individuals. It isexpected that the sample size will generate a response of over 70%,thus allowing for making informed findings. The participants will be selected from London since it is populated and has diverse geographical region. The diverse population will minimisechances of bias by ensuring that there is the inclusion of varying groups in term of gender, race, and age.

The principal methods to be used in the Study

The research will be based on both quantitative and qualitative methods. In line with the listed methods, secondary data will be used in the evaluation of the UK customers’ perceptions.  There will be the use of interactivetools likesurveys and interviews,thus allowing for the collection of the feedback fromcustomers.

Likely Challenges in the Study

The main challenges will be in the collection of data and analyzing it. This due to the fact that banking information is kept confidential. Thus, getting such data and reports regarding customer perception is a bit difficult.

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