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Determinants of online banking image of MTB Ltd.

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Abstract
Mutual Trust Bank Limited is the oldest private commercial bank operating in Bangladesh. It has
over the years created one of the largest networks among all the other banks in Bangladesh.
Although a trendsetter in offering a various ranges of products in the market, the product offers
by Mutual Trust Bank Limited are quickly imitated by competitors.
Now a days technological advancement makes our life easier. As a part of this advancement
banking sector facilitates their client involvement by offering most convenient services through
electronic means. Customers are now able to transact different types of banking activities via
internet. People are now busy enough and consciousness among people has increase than ever
before so they expect high quality service with short period of time. Banking image now depends
on how efficiently they provide online service to their customers in a secure way.
This study aims to investigate the relationships among access to service, transaction efficiency,
service quality, online security and personal support to determine whether these variables
influence the online banking image or not, in the context of Mutual Trust Bank Ltd.
To test the framework, structural questioner method is applied to collect data from 50 clients of
Mutual Trust Bank Ltd. Hypotheses were tested through Spearmans and Pearsons correlation
test. Regression model also use to see the how much depended variable is explained by
independent variables.
The results of this study indicate that access to service, transaction efficiency, service quality,
online security, personal support are influence or positively associated with online banking
image in the context of Mutual Trust Bank Ltd.







Determinants of online banking image of MTB Ltd. 2

1.0 Introduction

In general sense we mean Bank as a financial institution that deals with money. Now-a days
banking sector is modernizing and expanding its hand in different financial events every day. At
the same time the banking process is becoming faster, easier and is becoming wider. In order to
survive in the competitive field of the banking sector all organizations are looking for better
service opportunities to provide their fellow clients.
In Bangladesh, banking industry is mature to a great extent than earlier period. It has developed
superb image in their various activities including electronic banking. Now modern banking
services have launched by some multinationals and new local private commercial banks. Online
banking is one of the most demanded and latest technologies in banking sector. This paper tried
to unearth the present status of online banking image in banking sector of Bangladesh.
For last few years, online banking is a very common service that is provided by most of the
banks in Bangladesh, Mutual Trust Bank Ltd. is one of them. Now online banking is a very
popular form of transaction among peoples because by this they can do their various banking
activities without going to the bank and in a very short time.


1.1 Statement of the Problem
Globalization, the large number of competitors, and the banks constant struggle to offer
something different in their services to distinguish them from the rest, have led them to explore
alternative channels such as the Internet. Due to the high involvement included in most banking
transactions, security and privacy concerns, and perceived risk on Internet channels are found to
be the major obstacles to internet banking. This perceived risk of customers lowers their
willfulness to utilize online banking. Perceived risk usually arises due to lack of trust on the
system, security concerns, innovativeness of the applications, and finally unawareness of usage
method. The important factor that consumers consider before adopting is the amount of
information they have about online banking. While the use of online-banking services is fairly a
new experience to many people, low awareness of online banking is a major factor in causing
people not to adopt internet banking. These factors are believed to exist as more magnified
among the customers of developing countries, such as Bangladesh.
Determinants of online banking image of MTB Ltd. 3

Therefore, the banks need to understand the attributes that customer use to judge online banking
image. So in this research I am trying to find the determinants that influence the online banking
image in the context of Mutual Trust Bank Ltd.

1.2 Research Objectives
The objectives for this study are:
To analyze the various aspects of online banking in Mutual Trust Bank Limited &
identify the online banking image through the different services offered to the customer
by Mutual Trust Bank Limited.
To find out problems associated with online banking in Mutual Trust Bank Limited.
To suggest suitable measures to remove the existing problems and improvement of the
online banking system of Mutual Trust Bank Limited.
To find the determinants that affects the online banking image.
To identify the relationship between transactions efficiency, services offered, security
and online banking image.


1.3 Purpose of the Study
This study aims to investigate the determinants that affect the online banking image and also find
the relationship among transactions efficiency, services quality, security and online banking
image of Mutual Trust Bank Limited.







Determinants of online banking image of MTB Ltd. 4

2.0 Overview of Mutual Trust Bank Limited
Mutual Trust Bank was incorporated on September 29, 1999 under the companies Act 1994 as a
public company limited by shares for carrying out all kinds of banking activities with Authorized
capital of tk.3800, 000,000 divided into 38,000,000 ordinary shares of tk. 100 each.
The company was also issued certificate for commencement of business on the same day and
was granted license on October 05, 1999 by Bangladesh Bank under the banking companies Act
1991 and started its banking operation on October 24, 1999.as envisaged in the memorandum of
association and ass licensed by Bangladesh bank under the provision of the banking company act
1991, the company started its banking operation and entitled to carry out the following types of
banking business. All types of commercial banking activities including Money Market
operations.
Investment in Merchant Banking activities.
Investment in Company activities.
Financiers, Promoters, Capitalists etc.
Financial Intermediary Services.
Any related Financial Services.

2.1 Functions of MTBL
The functions of MTBL are as follows:
Mobilization of idle resources of the country by accepting Deposits from the general
public.
Granting Loans and Advances to the individual firms and companies for activating and
developing trade, commerce and industries and other productive activities in the country.
To give facilities to the client and shareholders in a systematic way.
Give encouragement to the people for savings.
To increase investment.
To make easy transfer of foreign currency.
To identify consumers demand and fulfill their demand by supplying money.
To improve economy by borrowing financial facility.
To assist capital market.
Determinants of online banking image of MTB Ltd. 5

2.1.1 Mission:
We aspire to be the most admired financial institution in the country, recognized as a dynamic
innovative and client focused company that offers an array of products and services in the
search for excellence and to create an impressive economic value.
The organization structure and corporate of Mutual Trust Bank Limited (MTBL) strongly
reflect its determination to establish, uphold and gain a stronger footing as an organization
which is customer-oriented and transparent in its management.

2.1.2 Vision:
Mutual Trust Banks vision is based on the philosophy well known as MTB3v.We envisions
MTB to be:
One of the best performing banks in the country
The bank of choice and
A truly world class bank

2.2 General Banking
Financial institution/ intermediary that mediates or stands between ultimate borrowers and
ultimate lenders are knows as banking financial institution. Banks perform this function in two
ways- taking deposits from various areas in different forms and lending that accumulated
amount of money to the potential investors in other different forms. General Banking is the
starting point of all the banking operating and aids in taking deposits and simultaneously
provides some ancillaries services. It provides those customers who come frequently and those
customers who come one time in banking for enjoying ancillary services. In some general
banking activities, there is no relation between banker and customers who will take only one
service form Bank. Mutual Trust Bank in confined to provide the service everyday general
banking is also known as retail banking.





Determinants of online banking image of MTB Ltd. 6

2.3 MTB Online Banking

Online Banking
Internet banking would free both bankers and customers of the need for proprietary software to
carry on with their online banking transactions. Customer behavior is changing rapidly. Now
the financial service is characterized by individuality, independence of time and place and
flexibility. These facts represent huge Challenges for the financial service providers. So the
Internet is now considered to be a Strategic weapon for them to satisfy the ever-changing
customers demand and Innovative business needs. Adequate legal framework and maximum
security are the two essential factors for Internet banking. The comprehensive security
infrastructure includes layers of security from the network to the browser, including
sophisticated encryption that protects customers from intrusion when they access the bank
over the public network.
In order to take advantage of online banking, an account holder would need to meet several
technological requirements, such as having a personal computer with Internet access and web
browser. If those conditions are satisfied, online banking can be performed from anywhere in
the world. To minimize the risk of fraud, online banking is enabled through a secure server,
which grants the individual a private access to his or her bank account. Online banking is
designed to streamline banking chores that otherwise require considerable time and effort.
Thus, online banking facilitates direct access to account details, enables transfer of funds,
allows for multiple bills payments, and performs an array other transactions. Online banking is
available twenty four hours, seven days a week, regardless of the banks working hours. Today,
most banks offer online banking services.

2.4 Characteristics of E-banking
In todays competitive world economy there are few opportunities to make a big difference and
many opportunities to make a little difference. Banks and other financial organizations can
easily strive to seize all these opportunities.
In the modern age the whole world has become as a global village and people are getting
closure day by day through information and communication technologies based on digital
system. So, modern age is also termed as digital age.
Determinants of online banking image of MTB Ltd. 7

E-banking mainly depends on computer and different types of information technologies. Now
days different types of e-banking operations have been introduced. Transactional websites
provide customers with the ability to conduct transactions through the financial institutions
website by initiating banking transactions or buying products and services. Banking
transactions can range from something as basic as a retail account balance inquiry to a large
business-to- business funds transfer. E-banking services, like those delivered through other
delivery channels, are typically classified based on the type of customer they support. The
following table lists some of the common retail and wholesale e-banking services offered by
financial institutions.

2.5 Security Feature
Security is a key feature of the e-banking service. The prospective customers need to be well
understood and ensured about the level of security the service holds in order to pursue them for
using e-banking service. It is mandatory for Invariably all the banks those who are providing
this service or wish to start this service to emphasize on the maximum possible security they
could offer to the clients and protect their system from hackers. For example, MTBL uses
stringent, leading-edge security technology to protect customers data during preparation,
transmission and processing. It employs a four-tiered approach to security:
User identification and authentication with dynamic passwords
User entitlement and authorization to limit the functions accessible to each user
Data protection using Secure Sockets Layer, 128-bit encryption, digital certificates, and
Method Authentication Code verification.
Audits and alerts inform you when unauthorized access attempts are made.


2.6 The Service
Mutual Trust Bank is playing a pioneering role among its competitors in providing real time
online banking facilities to its customers. Mutual Trust Bank online banking offers a customer
to deposit or withdraw any sum of money from any branch anywhere. Any account holder
having a checking account with the bank can avail this service.

Determinants of online banking image of MTB Ltd. 8

2.7 Web
The Internet has brought about a revolutionary change in the world leading to convergence of
communication and computing technologies. In order to provide round the clock and up to date
information on the Bank to the trade and business communities worldwide, the IT Team of
Mutual Trust Bank Limited has developed a web name: www.mutualtrustbank.com

2.8 Common Online Banking Services:
Banking transactions can range from something as basic as a retail account balance inquiry to a
large business-to-business funds transfer. On line banking services, like those delivered through
other delivery channels, are typically classified based on the type of customer they support. The
following table lists some of the common retail on line banking services offered by banks are as
follows:

Account management
Bill payment and presentment
New account opening
Investment/Brokerage services
Loan application and approval
Business-to-business payments

2.9 SWIFT
The Bank has become the member of SWIFT Alliance Access, a multi-branch secure financial
messaging system provided by the Society for Worldwide Inter-bank Financial
Telecommunication [SWIFT], Belgium. With the activation of the SWIFT system the Bank
enjoys instant, low-cost, speedy and reliable connectivity for L/C transaction, fund transfers,
message communication and other worldwide financial activities.


Determinants of online banking image of MTB Ltd. 9

3.0 Literature Review
3.1 Access to services
Ease of use is as the factor influencing the adoption of online banking, and related to an
easy-to-remember URL address, well-organized, easy in site navigability, concise and
understandable contents, terms and conditions (Sathye, M., 1999)


3.2 Transactions efficiency
Transaction efficiency is the ability of the customers gets in to website, find they desire
product and information associate with it, and check out with minimal of effort.
Transaction efficiency also can understand as performance of Internet banking base on
some elements: up to date information, response time, download time, complete product
information, tutorial/demonstration, and help function (Leelapongprasut, 2005).


3.3 Service Quality
The concept of service quality has often been associated with the idea of business image. Service
quality comes from a comparison between actual results and the initial expectations of the
customer (Parasuraman et al., 1988), bringing the concept closer to the idea of satisfaction
(Cooper et al., 1989). For its part, image may be defined as general impressions about an
organization (Rynes, 1991). This may be expressed as the picture of an organization as
perceived by target groups (Van Riel, 1995). Thus, the concept of image is more abstract than
the idea of service quality. This abstract nature has meant that there is no widespread consensus
among researchers as to how it should be measured, and in some cases it has even been
considered as open to manipulation.
Service quality has become an issue that businesses have focused up on with e-services that
enable electronic communication; information gathering, transaction processing and data
interchange between online vendors and customers across time and space (Featherman and
Pavlou, 2002). In online environments, service quality is defined as the extent to which a website
facilitates efficient and effective shopping, purchasing, and delivery of product and services
(Zeithaml et al., 2002). Santos (2003) described e-service quality in terms of overall customer
Determinants of online banking image of MTB Ltd. 10

evaluations and judgments regarding the excellence and the quality of e-service delivery in the
virtual marketplace.

3.4 Security
Security has been identified as an important factor for financial related internet services;
moreover, empirical study supports that consumers make many online decisions almost
solely on the basis of security (Avinandan & Prithwiraj, 2003; Urban, Sultan and Qualls,
2000). For Internet banking, security plays an extremely important role for the acceptance and
use, which has been supported by both research and empirical studies, especially in
developing countries (Benamati and Serva, 2007).Trust building is very important for
internet banking adoption. Privacy and security concern are the two crucial factors for trust
building, which has been pointed out as the top two factors influencing user adoption. Privacy
and security have been discussed broadly both in academia and practice. Privacy is defined as
the ability to control and manage information about oneself (Belanger, Hiller and Smith, 2002).
Security is defined as the ability to protect against potential threats. From consumers
standpoint, security is the ability to protect consumers information from information fraud and
theft in the online banking business. Customers have doubts about the trust ability of the e-
bank's privacy policies (Gerrard and Cunningham, 2003). Trust has striking influence on
user's willingness to engage in online exchanges of money and personal sensitive information
(Friedman et al, 2000; Wang et al, 2003). Privacy is an important dimension that may
affect users' intention to adopt e-based transaction systems. Encryption technology is the
most common feature at all bank sites to secure information privacy, supplemented by a
combination of different unique identifiers, for instance, a password, mother's maiden name,
a memorable date, or a few minutes of inactivity automatically logs users off the account.
Besides, the Secure Socket Layer, a widely-used protocol use for online credit card payment, is
designed to provide a private and reliable channel between two communicating entities; the
use of Java Applet that runs within the user's browser; the use of a Personal Identification
Number, as well as an integrated digital signature and digital certificate associated with a
smart card system (Hutchinson and Warren, 2003).


Determinants of online banking image of MTB Ltd. 11

3.5 Online Banking Image
The banking system has been attempting to gather more and more information on aspects that
induce people to do their banking over the Internet (Gerrard and Cunningham, 2003; Sathye,
1999). At the same time, it has particularly been interested in finding out customers perceptions
of banks operating in this medium, in a bid to master the technology that will enable the banks to
make innovations, stand out from the others, and provide services that are more attractive to their
customers. In this context, image has become an important management tool for these companies
(Worcester, 1997) and an extremely complex concept that calls for an increasing number of
elements for its analysis (Balmer and Stotvig, 1997; Biel, 1992; Keller, 1993; LeBlanc and
Nguyen, 1996; Nguyen and LeBlanc, 1998; Park et al., 1986; Van Heerden and Puth, 1995;
Worcester, 1997).

Image is a particularly complex concept. In fact, image has been said to be composed of a set of
elements that go beyond an individuals mere perception. In this respect, some authors suggest
that corporate image is the net result of the interaction of all experiences, impressions, beliefs,
feelings and knowledge people has about a company (Worcester, 1997). The internalization of
these elements has meant that researchers recognize that image is identified as a non-palpable
item and can only be perceived by each individual in his own way. Thus, the perception of one
individual will never be the same as that of another (Gray and Smeltzer, 1985). Using this
reasoning, Nguyen and LeBlanc (1998, 2001) recently stated that corporate image is not a single
entity, since it depends on the perception of each specific group of people and on the type of
experiences and contacts they have had with the company (Dowling, 1986, 1988).

Focusing our attention more specifically on the analysis of image in the banking sector, it is
probably true to say that the interest shown by management and researchers in quantifying
banking image is not a recent phenomenon: as early as the 1970s a great many studies focused
on image from a multidimensional perspective (Durand et al., 1978; Evans, 1979; Laurent,
1979). More recently, LeBlanc and Nguyen (1996) developed a model that includes certain
factors that influence the forming of online banking image and which also help to analyze
corporate image from a multi-dimensional perspective.

Determinants of online banking image of MTB Ltd. 12

3.6 Conceptual Framework








(Dependent variable)




(Independent variables)


3.7 Research Questions:
H1. Does access to services positively impact on online banking image?
H2. Does transaction efficiency positively impact on online banking image?
H3. Does service quality positively impact on online banking image?
H4. Does online security positively impact on online banking image?
H5. Does personal support positively impact on online banking image?

Access to Services

Transactions
Efficiency
Services Quality
Security

Personal Support

Online Banking
Image

Determinants of online banking image of MTB Ltd. 13

3.8 Hypotheses:
H1

: Access to service does not have a positive impact on online banking image.
H1
a
: Access to service has a positive impact on online banking image.
H2

: Transaction efficiency does not have a positive impact on online banking image.
H2
a
: Transaction efficiency has a positive impact on online banking image.
H3

: Service quality does not have a positive impact on online banking image.
H3
a
: Service quality has a positive impact on online banking image.
H4

: Online security does not have a positive impact on online banking image.
H4
a
: Online security has a positive impact on online banking image.
H5

: Personal support does not have a positive impact on online banking image.
H5
a
: Personal support has a positive impact on online banking image.


4.0 Research Methodology
Research methodology is the systematic way to solve the research problem. It gives an idea
about various steps adopted by the researcher in a systematic manner. In this section I will
describe the various key areas of the research methodology such as, research design, sampling
procedure, sampling size, research instrument and data collection methods that had been used.
This research is mainly based on the primary data with the little help of secondary data.

4.1 Research Design (Descriptive)
This study is a cross-sectional (descriptive) in nature, because investigation involving a sample
of elements selected from the population of interest that were measured at a single point in time
and also quantitative in nature because the hypotheses would be tested quantitatively.
A correlational research design had been selected in order to identify whether any relationships
existed among variables- access to services, transaction efficiency, service quality, online
Determinants of online banking image of MTB Ltd. 14

security, personal support and online banking image or not. Therefore, the present study would
be characterized as a correlational study.

4.2 Sampling Procedure:
Non-probability sampling (Convenient Sampling) method was used to collect the data.
The sample was selected for this study based on the interviewers convenience. Therefore, the
sampling technique can be termed as, Convenient Sampling which belongs to Non-probability
Sampling Technique category.

4.3 Sample Size and Sampling Area
The sample size was 50. And the survey was conducted among the clients of MTBL
Bashundhara Branch, Gulshan branch and Dhanmondi branch who were using online facilities.
The target population of this study is clients of Mutual Trust Bank Limited.

4.4 Methods of Data Collection
For achieving the specific objectives of this study, data was gathered most from primary sources
and little from secondary sources.
4.4.1 Primary data:
Primary data for this report was collected through structured questionnaires survey method.

4.4.2 Secondary data:
Secondary data was collected from:
Website of Mutual Trust Bank Limited.
Annual Reports and Publication of Mutual Trust Bank Limited.
External sources such as journal and article from websites.

4.5 Research Instrument
Questionnaire survey is the most successful method for this study to collect the data. A
structured questionnaire was used in the survey. In a structured questionnaire, quantitative data is
Determinants of online banking image of MTB Ltd. 15

required. A total of twenty eight questions were taken into account for measurement. To analyze
the data collected through survey method, 5(five) point Likert type scale was used in measuring
the relationship of access to service, transaction efficiency, service quality, online security,
personal support and online banking image developed by Hair et al., 1998. These are:
1 = Strongly Disagree
2= Disagree
3= Neither Disagree nor Agree
4= Agree
5= Strongly Agree

4.6 Data Analysis Method
The collected data was analyzed by personal computer with the SPSS 17.0 software, following a
planned analysis strategy. This plan followed the objectives of the survey. The reliability of the
variables was analyzed by Cronbachs alpha. The correlation between the independent variables
and dependent variables was measured with the Pearsons Correlation and Spearmans
Correlation test. In case of regression the result of the R
2
value underneath the ANOVA table
will be used to measure the variation.

4.7 Limitations
The main limitation of this report is time and resources. Three months are not enough to
know overall online activities of Mutual Trust Bank. This limitation might affect the result.

I had to face some limitations to collect some informations about internet banking of MTB
as these were not so available for the general peoples.
Respondents were too busy to read the questions properly and tick the answer just for the
sake of completing the survey quickly. So there is no guarantee that the data collected is
100% correct and hence while analyzing the researcher has considered level of significance.
Authority was not available as they had to maintain lots of work and non-availability of some
preceding and latest data.
Determinants of online banking image of MTB Ltd. 16

Sample size was 50 which were very small to represent the proposed scenario.
Due to lack of experience there is a chance of having some mistake in the report. But I have
tried my best to do fewer mistakes and provide the accurate information

5.0 Data Analysis and Results

6.1 Descriptive Analysis
Descriptive analysis includes numbers that summarize the data with the purpose of describing
what had occurred in the sample. Frequency distributions have been given under Appendix B.
Among the 50 participants 38 were male which consisted of 76% of total sample and the other
12 were female which consisted of 24%.
38 percent of the participants were between the ages of 26-35; 32 percent were between the ages
of 36-45; 22 percent were between the age of 46 and above and 8 percent were between the ages
of 18-25.
32 percent of the participants earned between Tk. 26000-35000; 34 percent earned between Tk.
46000 and above; 22 percent earned between Tk. Taka 36000-45000 and 12 percent earned Tk.
15000-25000 per month.


6.2 Reliability Analysis:
The internal consistency reliability was assessed by calculating Cronbachs alpha value. A
commonly accepted rule of thumb for describing internal consistency using Cronbach's alpha is
as follows-
If the value of (Cronbachs alpha) is between 0.5-0.6 the reliability is accepted. If it is below
0.5, it is rejected. And if the value of is 0.7 and above then the reliability is acceptable and very
satisfied developed by Cortina, J.M. (1993)
In this study, Cronbachs alpha for each variable has been shown under Appendix B. For
variable Access to service reliability factors were tested by using five questions. The reliability
Determinants of online banking image of MTB Ltd. 17

analysis provided a Cronbachs alpha value of 0.738 which suggests that the internal consistency
reliability is accepted and very satisfied for this variable.

In case of variable Transaction efficiency reliability factors were tested by using three
questions. The reliability analysis of these questions has a Cronbachs alpha value of 0.512
which means that the data are reliable.

For variable Service quality reliability factors were tested by using five questions. The
reliability analysis provided a Cronbachs alpha value of 0.551 which suggests that the internal
consistency reliability is accepted and very satisfied for this variable.

The questions of Security are reliable due to the Cronbach's Alpha is 0.621. This value is
considered as accepted or reliable.

In case of variable Personal support reliability factors were tested by using four questions. The
reliability analysis of these questions has a Cronbachs alpha value of 0.526 which means that
the data are reliable.

For variable Online Banking image reliability factors were tested by using five questions. The
reliability analysis provided a Cronbachs alpha value of 0.702 which suggests that the internal
consistency reliability is accepted and very satisfied for this variable.


The independent and dependent variables Cronbachs alpha are given below in the table:
Table: 01
Variables Cronbach's Alpha value N of items
Access to services 0.738 05
Transaction efficiency 0.512 03
Service quality 0.551 05
Security 0.621 06
Personal support 0.526 04
Online banking image 0.702 05


Determinants of online banking image of MTB Ltd. 18

6.3 Hypotheses Testing & Analysis:
6.3.1 Spearmans Correlation
Spearmans correlation is used to see whether there is any relationship among variables or not.
If correlation coefficient or (rho) 0 and significance or (alpha) 0.05, there will be a
relationship between variables. Calculations are shown under Appendix B.

Hypotheses testing 1:
H

: null hypothesis = no relationship


Ha: alternative hypothesis = relationship
Under Spearmans correlation, the correlation coefficient is 0.665 and the alpha value is 0.000
which indicates that the H1a (alternative) hypothesis is true. Therefore, there is a relationship
between access to services and online banking image.

Hypotheses testing 2:
H

: null hypothesis = no relationship


Ha: alternative hypothesis = relationship
Under Spearmans correlation, the correlation coefficient is 0.624 and the alpha value is 0.000
which indicates that the H2a (alternative) hypothesis is true. Therefore, there is a relationship
between transaction efficiency and online banking image.

Hypotheses testing 3:
H

: null hypothesis = no relationship


Ha: alternative hypothesis = relationship
Under Spearmans correlation, the correlation coefficient is 0.411 and the alpha value is 0.003
which indicates that the H3a (alternative) hypothesis is true. Therefore, there is a relationship
between service quality and online banking image.

Hypotheses testing 4:
H

: null hypothesis = no relationship


Ha: alternative hypothesis = relationship
Determinants of online banking image of MTB Ltd. 19

Under Spearmans correlation, the correlation coefficient is 0.455 and the alpha value is 0.001
which indicates that the H4
a
(alternative) hypothesis is true. Therefore, there is a relationship
between security and online banking image.
Hypotheses testing 5:
H

: null hypothesis = no relationship


Ha: alternative hypothesis = relationship
Under Spearmans correlation, the correlation coefficient is 0.137 and the alpha value is 0.343
which indicates that the H5

(null) hypothesis is true. Therefore, there is no relationship between


personal support and online banking image.

The Spearmans correlation of independent and dependent variables are given below in the table
Table: 02
Independent Dependent Spearmans Correlation Significance or
Variables Variable Coefficient Alpha Value
Access to services O.B.I 0.665 0.000
Transaction efficiency O.B.I 0.624 0.000
Service quality O.B.I 0.411 0.003
Security O.B.I 0.455 0.001
Personal support O.B.I 0.137 0.343
*O.B.I= Online Banking Image

6.3.2 Pearsons Correlation
Pearsons correlation is used to see the strength of relationship between variables. The bivariate
correlation procedure was subject to a two tailed of statistical significance at two different levels
highly significant (p<.01) and significant (p<.05). Calculations are shown under Appendix B.

According to Nadim Jahangir the classification of correlation coefficient is as follows:
0.0 to 0.2 Very weak, negligible
0.2 to 0.4 Weak, low
0.4 to 0.7 Moderate
0.7 to 0.9 Strong, high
Determinants of online banking image of MTB Ltd. 20

0.9 to 1.0 Very strong, very high

In H1, there is a strong relationship between access to services and online banking image
because Pearson correlation coefficient is 0.771 and p is 0.000.
In H2, there is a moderate relationship between transaction efficiency and online banking image
because Pearson correlation coefficient is 0.605 and p is 0.000.
In H3, there is a moderate relationship between service quality and online banking image
because Pearson correlation coefficient is 0.416 and p is 0.003.
In H4, there is a moderate relationship between security and online banking image because
Pearson correlation coefficient is 0.575 and p is 0.000.
In H5, there is a weak relationship between personal support and online banking image because
Pearson correlation coefficient is 0.203 and p is 0.157.

Pearsons correlation of independent and dependent variables are given below in the table-
Table: 03
Independent Dependent Pearsons Correlation Significance or
Variables Variable Coefficient Alpha Value
Access to services O.B.I 0.717 0.000
Transaction efficiency O.B.I 0.605 0.000
Service quality O.B.I 0.416 0.003
Security O.B.I 0.575 0.000
Personal support O.B.I 0.203 0.157
*O.B.I= Online Banking Image


6.4 Regression Analysis
R
2
values represent how much a dependent variable is explained by the independent variables
Calculations are shown under Appendix B.
Here, the correlation coefficient, R, is 0.83. A value of +1 or close to+1 indicates that the
independent variables & dependent variable are perfectly related in a positive sense (Jahangir,N.
Determinants of online banking image of MTB Ltd. 21

2003), so dependent variable is positively correlated with independent variables and the
relationship is very strong (R is positive and is much closer to 1).
Model Summary
Model R R Square
Adjusted R
Square
Std. Error of
the Estimate
1 .839
a
.704 .670 .25983
a. Predictors: (Constant), Personal Support, Transactions
efficiency, Service Quality, Security, Access to Services

Here R
2
is 0.70; this means that the variation in the regression is 70% explained by all
independent variables. So, 70% of the dependent variable (online banking image) is explained by
all independent variables (access to services, transaction efficiency, service quality, security and
personal support)

7.0 Discussion and Findings
In this study I tried to investigate the relationship between access to services, transaction
efficiency, service quality, security and personal support and online banking image of Mutual
Trust Bank Ltd. In general, the results support most of the developed hypothesized relationships.
There is a positive relationship between access to services and online banking image. Also
transaction efficiency, service quality and security are positively associated with online banking
image. But there was not found any partial relationship between personal support and internet
banking image.
With observing and analyzing to Mutual Trust Bank Ltd about their internet banking I have got
many things which can create negative aspects of its banking image.
In MTBL banking systems, IT and infrastructure is not as well so good and developed.
MTBL has no digital database system and service is also underlined. Because of this,
Determinants of online banking image of MTB Ltd. 22

customers will not get right service and maintenance to their account service with
securely.

For carrying out Internet banking properly, a basic knowledge of computers and the
internet is required, which limits the number of people willing to avail this facility. Many
people, who are not comfortable with computers and the Internet, often find it difficult to
use internet banking. Therefore, for beginners, internet banking is really time-consuming.
In addition to this, people also find a difficulty in trusting a completely mechanized
system like Internet banking, in case of financial matters. In many instances, a simple
mistake, like clicking a wrong button, may create a big problem. And so, many
individuals often keep wondering if they have properly executed the transaction. But
MTBL has no training and development opportunity for the customers to take better
service.

Problems are also listed in the availability of system integration in the process.
Incompatibility between e-banking applications and legacy systems means that most
banks require middle wear to integrate these systems. System integrations has been and is
still, to some extant a key barrier in online banking. Shortcomings the technologist
infrastructure is often the biggest problem and also here include integrations of system.

Another big problem is that most of the customers feel unsecured to make their
transaction because when they make transactions this report also go to the internet service
provider and this will help their secrecy and as perspective of Bangladesh our banking
system have no individual service protocol.

Mutual Trust Bank IT department is not enough strong and employees of the bank is not
well trained. For that there have a tendency to passing the data over the illegal party.

Another problem is the management problem of different countries. Because in the time
of transaction many countries have different types of legal observation and to maintain
this types of observation most of the cases bank is bound to close their operation with
these problematic countries.
Determinants of online banking image of MTB Ltd. 23

Sometimes, Internet banking can be time-consuming and tedious, as bank websites take
quite a long time to get started. Besides this, Internet bank account may also take
considerable time to get started. Customers may also encounter technical difficulties and
connectivity problems while conducting Internet banking transactions. Of course, there is
a customer care department in almost every bank to look into such matters, but often
customers may not be able to get the necessary assistance due to the congestion in the
computer and telephone network. On the other hand, in normal banking, customers can
simply converse with the bank officials to sort out any problem

8.0 Recommendations:

Bank should develop a digital database system.
Bank should arrange training program for the customers to avoid any big problem.
There have too much to be concerned of security. The websites for banks use the https:
protocol and that can be hacked upon by any third parties.
The bank authority should indicate the explorer because there have some explorers
whose are save client password.
When customer make claim against bank then they should take quick actions.
They should less their service charge by this they will make huge customers and also
increase the customer care facilities on online banking.
In time of international transaction customers face many problems related with different
countries management condition. So MTBL should clear everything to the customers.
They should maintain international trisections curriculum to make them more grunted to
country abroad.
They have to increase technology expert as many as possible
Determinants of online banking image of MTB Ltd. 24

Now its 21
st
century we the people are introduced to online banking. It is a convenient and secure
way of making many transactions, such as transfer and bill payment. Banks have traditionally
been in the forefront of harnessing technology to improve their products, services, efficiency and
their corporate image. Mutual trust bank participate a great roll with performing internet as well
as online banking and they want to take the leading position in online banking. It provides great
deal of services in online banking to satisfy customers as well as increasing its banking image.


Working Experience at Mutual Trust Bank limited

The BBA program is designed to focus on theoretical and professional development of people
open to take up business as a profession as well as service as a career. The course is designed
with an excellent combination of theoretical and practical aspects. This internship provides the
Students to link up their theoretical knowledge into practical fields. In this connection, I was
assigned to Mutual Trust Bank Ltd. Gulshan Branch. This chapter will give a brief idea about my
duties and responsibilities over the three month in Mutual Trust Bank Ltd. Gulshan Branch.
From the first day of my joining in Mutual Trust Bank I have given some responsibilities.
Through this internship program I have gathered practical knowledge about the corporate world.

General Banking

Account Opening The first thing I have learned how to open an account in Mutual Trust
Bank Ltd. I was instructed about the procedures and the requirements of every different
types of account. (Current, Savings etc.) I had also taken part in completion of some of
the account opening form. After the finishing the procedures of the forms I have also
learned how to process and store into the software named Flora which Mutual Trust Bank
Ltd use for their online banking.

Desks pass After learning the procedures of account opening I was appointed to for 2-3
days in the desk pass of GB. All the documents both inward and outward go through this
desk. The responsibility of this desk is to mark all the documents and give those
documents an official trespass number and send those documents to appropriate places.
Determinants of online banking image of MTB Ltd. 25

Introduction to the Banking software I was given bit information about how the online
Banking software works and what is the function of it. I was also allowed to browse the
software for my proper leaning about the procedures of the transactions.

Cheque Book processing After the introduction with the banking software I learned
how to process a Cheque book. I have learned the processing of the Cheque book
requisitions and other formalities. I have also took part in the delivering the Cheque book
when a client comes to acquire it. Mutual Trust Bank Ltd follows a unique process for
securing their Cheque books. They put some secret Random numbers in every pages of
the Cheque book. I have also taken part in the processing of those random numbers in the
Cheque books.

Payment Order Pay Order or Payment order in one of the main facility of Mutual Trust
Bank Ltd. I learned what pay order is and how it helps to transfer funds. I also learned
how the government get their tax and bank obtain their commission from each payment
order.

Cheque clearing Cheque clearing section is one of the most important parts of GB.
Working in this section requires a lot of patience and concentration. I learned the process
of both inward and outward clearing.

Demand Drafts (DD) Demand draft works like a pay order but it is generally used for
transferring the funds outside Dhaka. I learned the process works for DD. Most of the
government organizations use Demand draft for transferring their funds in Mutual Trust
Bank.

Loans and Advances

Sorting and classifying loans First thing I learned in Loan and Advances was sorting
out the loans. Learning about the loans and its classification. I also learnt about the
classified loans of Mutual Trust Bank Limited, Gulshan Branch.
Studying the Statement of Investment I had the opportunity to see how Loans and
Advances of Mutual Trust banks reports to Bangladesh Bank in the end of financial year.
Determinants of online banking image of MTB Ltd. 26

So I had the chance to learn about the statements of investment for my report topic which
in Investment analysis.
Studying and sorting Transaction profile of a Defaulter I also took part in sorting out
the transaction profile of few defaulters. Bank was going to take some legal actions
against them to the required the sorted transaction profile of those clients.

Foreign Trade/Exchange

L/C opening The first thing I learned in foreign trade section was how to open a letter
of credit or documentary credit for both local and international purpose. I learned about
the requirements of opening a letter of credit or documentary credit and how it operates
in business and transactions.

Knowledge about Export form I mainly worked in import section so I had to study the
Export forms and functions of those forms. I studied all four export form and the
function of those forms and also learned how to report this forms in Bangladesh Bank.

Filling the Export forms Filling the forms is basically an online process which Mutual
Trust bank reports to Bangladesh bank. The total procedure is web based. Forms need to
be filled with their realization and authorization dates.

Using SWIFT Alliance messenger (SAM) SWIFT is the Society for Worldwide
Interbank Financial Telecommunication, a member-owned cooperative through which
the financial world conducts its business operations with speed, certainty and confidence.
More than 10,000 banking organizations, securities institutions and corporate customers
in 212 countries trust us every day to exchange millions of standardized financial
messages. Though I didnt have much opportunity to use SWIFT properly but I do
leaned the basic thing of SAM and used it for filling up the LC information.

Process of realizing the export bills Later I worked in the process of realizing the
export bills such as foreign bill purchase (FBP), foreign bill charge (FBC). This was a
part of export section where the bank realizes the export bills on behalf of their clients.
Determinants of online banking image of MTB Ltd. 27

Organizing and Sorting the Export bill files Organizing and sorting out the bill files
after realization is also known as the backend work. Basically I had to sort out the bill
vouchers with IBDT voucher and customer voucher. After sorting up the vouchers I had
to fill up the bill registers, EXP registers, Advance Income Tax (AIT) register and
customer performance register.

Positive Aspects:

Skilled manpower: The Gulshan branch is a new Branch of MTBL but its all employee
are not new in MTBL maximum of all employee were working in different branches of
MTB after opening this branch they assigned here so all of they are very skilled and
experienced employee of MTBL.
Strong branch network: MTBL has strong branch network currently they are operating
their banking activities through 68 branches all over the Bangladesh so they can equally
focus on the urban and rural areas customer. And MTBL is carries their international
business through a Global network of foreign correspondent bank
Online Service: Now Bank has an online service in all their branches that also have a
strong Network. Now client can transaction easily whichever branch they want within
Bangladesh. Through the online service client also can transfer their fund in all over the
Bangladesh.
Working environment: MTBs working environment is excellent.


Determinants of online banking image of MTB Ltd. 28

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Determinants of online banking image of MTB Ltd. 31

Appendix A
Questionnaire

A sample of the questionnaire used for the research is as follows:
This research is conducted for academic purposes only. So please do not hesitate to answer. Your
Information will be kept confidential.
1. Male Female

2. Age: 18-25 3. Income per month: Taka 15000-25000
26-35 Taka 26000-35000
36-45 Taka 36000-45000
46 and above Taka 46000 and above

Please indicate how much you agree or disagree with each of the following statements and circle
the number, which most closely responds to your thinking.






Access to services


01 I have convenience in the service of bank 1 2 3 4 5
02. Necessary time to carry out the transactions 1 2 3 4 5
03. Information and text are clear and easy to understand 1 2 3 4 5
04. Easy to use the online service 1 2 3 4 5
1 2 3 4 5
Strongly Disagree Neither Agree Agree Strongly Agree
Disagree nor Disagree

Determinants of online banking image of MTB Ltd. 32

05. The output format is easy to read 1 2 3 4 5

Transactions efficiency

06 Information in MTBL online service is up to date 1 2 3 4 5
07 MTBL online service provide complete help function 1 2 3 4 5
08 Online Transaction process is fast. 1 2 3 4 5

Service Quality


09 I am satisfied with this Branchs fast and efficient service 1 2 3 4 5
10 I am happy about the interest rate they offer for savings account
11 Commission paid for services 1 2 3 4 5
12 Attractiveness of the products and services offered 1 2 3 4 5
13 Quality of products and services available 1 2 3 4 5

Security


14 MTBL Bank online service keeps accurate record of transaction 1 2 3 4 5
15 MTBL Bank online service provide security for transaction data
and privacy
1 2 3 4 5
16 No problem during using MTBL Bank online service 1 2 3 4 5
17 MTBL Bank online service is secure 1 2 3 4 5
18 Feel safe when using MTBL Bank online service 1 2 3 4 5
19 Can check validity and detail of past transaction every time 1 2 3 4 5

Personal Support


20 In case of problem happen, can contact staff immediately 1 2 3 4 5
21 Staff can describe step to use and condition to use clearly 1 2 3 4 5
22 Friendliness and treatment received 1 2 3 4 5
Determinants of online banking image of MTB Ltd. 33

23 Financial advice received is helpful for future transaction 1 2 3 4 5

Online Banking Image


24 I believe that this bank does what it promises for its clients 1 2 3 4 5
25 This bank has a good reputation on online banking 1 2 3 4 5
26 I believe that the reputation of this bank is better than that of the
rest of the companies
1 2 3 4 5
27 I trust this entity to carry out my transactions through the Internet 1 2 3 4 5
28 I am confident that the operations carried out through the Internet
with this entity, will be exact and without errors

1 2 3 4 5

















Determinants of online banking image of MTB Ltd. 34

Appendix B
Frequencies
Statistics

Gender Age Income
N Valid 50 50 50
Missing 0 0 0

Gender

Frequency Percent Valid Percent
Cumulative
Percent
Valid Male 38 76.0 76.0 76.0
Female 12 24.0 24.0 100.0
Total 50 100.0 100.0


Age

Frequency Percent Valid Percent
Cumulative
Percent
Valid 18-25 4 8.0 8.0 8.0
26-35 19 38.0 38.0 46.0
36-45 16 32.0 32.0 78.0
46 and above 11 22.0 22.0 100.0
Total 50 100.0 100.0

Determinants of online banking image of MTB Ltd. 35


Income

Frequency Percent Valid Percent
Cumulative
Percent
Valid Taka 15000-25000 6 12.0 12.0 12.0
Taka 26000-35000 16 32.0 32.0 44.0
Taka 36000-45000 11 22.0 22.0 66.0
Taka 46000 and above 17 34.0 34.0 100.0
Total 50 100.0 100.0














Determinants of online banking image of MTB Ltd. 36

Reliability Analysis
Access to services
Case Processing Summary
N %
Cases Valid 50 100.0
Excluded
a
0 .0
Total 50 100.0
a. Listwise deletion based on all variables in
the procedure.

Transaction efficiency
Case Processing Summary
N %
Cases Valid 50 100.0
Excluded
a
0 .0
Total 50 100.0
a. Listwise deletion based on all variables in
the procedure.





Reliability Statistics
Cronbach's
Alpha N of Items
.738 5
Reliability Statistics
Cronbach's
Alpha N of Items
.512 3
Determinants of online banking image of MTB Ltd. 37

Service quality
Case Processing Summary
N %
Cases Valid 50 100.0
Excluded
a
0 .0
Total 50 100.0
a. Listwise deletion based on all variables in
the procedure.

Security
Case Processing Summary
N %
Cases Valid 50 100.0
Excluded
a
0 .0
Total 50 100.0
a. Listwise deletion based on all variables in
the procedure.







Reliability Statistics
Cronbach's
Alpha N of Items
.551 5
Reliability Statistics
Cronbach's
Alpha N of Items
.621 6
Determinants of online banking image of MTB Ltd. 38

Personal support
Case Processing Summary
N %
Cases Valid 50 100.0
Excluded
a
0 .0
Total 50 100.0
a. Listwise deletion based on all variables in
the procedure.


Online banking image
Case Processing Summary
N %
Cases Valid 50 100.0
Excluded
a
0 .0
Total 50 100.0
a. Listwise deletion based on all variables in
the procedure.






Reliability Statistics
Cronbach's
Alpha N of Items
.526 4
Reliability Statistics
Cronbach's
Alpha N of Items
.702 5
Determinants of online banking image of MTB Ltd. 39

Correlations Analysis:
Spearmans correlation
Access to services to online banking image
Correlations
Access to
Services
Online Banking
Image
Spearman's rho Access to Services Correlation Coefficient 1.000 .665
**

Sig. (2-tailed) . .000
N 50 50
Online Banking Image Correlation Coefficient .665
**
1.000
Sig. (2-tailed) .000 .
N 50 50
**. Correlation is significant at the 0.01 level (2-tailed).

Transaction efficiency to online banking image
Correlations
Transactions
efficiency
Online Banking
Image
Spearman's rho Transactions efficiency Correlation Coefficient 1.000 .624
**

Sig. (2-tailed) . .000
N 50 50
Online Banking Image Correlation Coefficient .624
**
1.000
Sig. (2-tailed) .000 .
N 50 50
**. Correlation is significant at the 0.01 level (2-tailed).
Determinants of online banking image of MTB Ltd. 40

Service quality to online banking image
Correlations

Service Quality
Online Banking
Image
Spearman's rho Service Quality Correlation Coefficient 1.000 .411
Sig. (2-tailed) . .003
N 50 50
Online Banking Image Correlation Coefficient .411 1.000
Sig. (2-tailed) .003 .
N 50 50


Security to online banking image
Correlations

Security
Online Banking
Image
Spearman's rho Security Correlation Coefficient 1.000 .455
**

Sig. (2-tailed) . .001
N 50 50
Online Banking Image Correlation Coefficient .455
**
1.000
Sig. (2-tailed) .001 .
N 50 50
**. Correlation is significant at the 0.01 level (2-tailed).

Determinants of online banking image of MTB Ltd. 41

Personal support to online banking image
Correlations
Personal
Support
Online Banking
Image
Spearman's rho Personal Support Correlation Coefficient 1.000 .137
Sig. (2-tailed) . .343
N 50 50
Online Banking Image Correlation Coefficient .137 1.000
Sig. (2-tailed) .343 .
N 50 50


Pearsons correlation
Access to services to online banking image
Correlations
Access to
Services
Online Banking
Image
Access to Services Pearson Correlation 1 .717
**

Sig. (2-tailed) .000
N 50 50
Online Banking Image Pearson Correlation .717
**
1
Sig. (2-tailed) .000
N 50 50
**. Correlation is significant at the 0.01 level (2-tailed).

Determinants of online banking image of MTB Ltd. 42

Transaction efficiency to online banking image
Correlations
Transactions
efficiency
Online
Banking Image
Transactions efficiency Pearson Correlation 1 .605
**

Sig. (2-tailed) .000
N 50 50
Online Banking Image Pearson Correlation .605
**
1
Sig. (2-tailed) .000
N 50 50
**. Correlation is significant at the 0.01 level (2-tailed).

Service quality to online banking image
Correlations

Service Quality
Online
Banking Image
Service Quality Pearson Correlation 1 .416
**

Sig. (2-tailed) .003
N 50 50
Online Banking Image Pearson Correlation .416
**
1
Sig. (2-tailed) .003
N 50 50
**. Correlation is significant at the 0.01 level (2-tailed).


Determinants of online banking image of MTB Ltd. 43

Security to online banking image
Correlations

Security
Online Banking
Image
Security Pearson Correlation 1 .575
**

Sig. (2-tailed) .000
N 50 50
Online Banking Image Pearson Correlation .575
**
1
Sig. (2-tailed) .000
N 50 50
**. Correlation is significant at the 0.01 level (2-tailed).

Personal support to online banking image
Correlations
Personal
Support
Online Banking
Image
Personal Support Pearson Correlation 1 .203
Sig. (2-tailed) .157
N 50 50
Online Banking Image Pearson Correlation .203 1
Sig. (2-tailed) .157
N 50 50



Determinants of online banking image of MTB Ltd. 44

Regression analysis

Variables Entered/Removed
Model
Variables
Entered
Variables
Removed Method
1 Personal
Support,
Transactions
efficiency,
Service
Quality,
Security,
Access to
Services
a

. Enter
a. All requested variables entered.


Model Summary
Model R R Square
Adjusted R
Square
Std. Error of
the Estimate
1 .839
a
.704 .670 .25983
a. Predictors: (Constant), Personal Support, Transactions
efficiency, Service Quality, Security, Access to Services





Determinants of online banking image of MTB Ltd. 45

ANOVA
b

Model Sum of Squares df Mean Square F Sig.
1 Regression 7.057 5 1.411 20.906 .000
a

Residual 2.971 44 .068
Total 10.028 49
a. Predictors: (Constant), Personal Support, Transactions efficiency, Service Quality,
Security, Access to Services
b. Dependent Variable: Online Banking Image


Coefficients
a

Model
Unstandardized Coefficients
Standardized
Coefficients
B Std. Error Beta t Sig.
1 (Constant) .671 .401 1.673 .101
Access to Services .381 .090 .528 4.255 .000
Transactions efficiency .303 .072 .376 4.229 .000
Service Quality .200 .085 .231 2.359 .023
Security .025 .104 .031 .239 .812
Personal Support -.071 .090 -.080 -.788 .435
a. Dependent Variable: Online Banking Image