THE CYBERSPACE FINANCIAL INSTITUTION:

E-COMMERCE IMPLEMENTATION IN
MAYBANK2U.COM
Chew, Y.C. (2013), Bristol MBA Coursework Assignment, Taylors Business !"hool.
Introduction
In past literatures, many researchers had shown vast interest in studying the strategic
results of what the knowledge management (KM) in a corporate world has got to offer
and how it helps corporate firms in profit generating activities: Mitra (202) in his
!estle"s #$% implementation, &hmad (200) in his development of a KM model for
construction pro'ects, and Mc(arthy (200)) in her dissertation a*out KM within a
multinational knowledge led company, to name *ut a few+ ,ith the increase popularity
and demand of knowledge management and information system implementation, it is
inevita*le that many corporate companies e-tend their daily operation within the ever.
growing world of internet where companies trade with tremendous speed and scale+ /oth
*usiness and consumer now can *enefit from the internet as a platform for e-changing
"knowledge" in ways that people in the past couldn"t have done many years ago+
&ccording to Internet ,orld 0tats (201), the amount of population using the internet
around the world reached 2+203 *illion as on 4une 202+ 5ue to the fact that more and
more people are adapting to the technology.oriented landscape, the emergence of the
cy*erspace demand curve is naturally *uilt in the market+ 6ne of the successful stories
illustrated in 7ur*an"s (201) research a*out &ma8on+com, the world9s largest /2( e.
store, recorded sales of :05;+0) *illion as of May 201 (<or*es, 201) and owned
multi.million dollars warehouses around the glo*e+
#.commerce, as defined *y most researchers (7ur*an et+ al+, 202= >audon ? 7raver,
202= Mclean et+ al+, 2002) as a platform that not only facilitates e-ecution of transactions
*ut also to *e a*le to provide top.class customer e-perience, services and information
*etween an organisation with its stakeholders+ 7he internet *anking, or *etter known as e.
*anking, was introduced in )@ and four of the city"s ma'or *anks in !ew Aork, namely
(iti*ank, (hase Mahattan, (hemical and Manufacturers Banover, hooked up online to
provide online transaction services+ It didn"t gain any popularity at all during that time
and it was not until )@1 when /ank of 0cotland first introduced its more e-tensive
online services that include statements viewing, money transfer and *ill payments+ 7o *e
successful, a *usiness in an e.commerce environment needs to carry several
characteristics namely *rand trust= 22CD accesi*ility and convinience= a*le to reach a
wider range of consumer, universal compati*ility= clarity of product information and
guidelines= top online customer service e-perience that include visual, audio, interactive
personali8ation and reviews= low decline rate= and last *ut most crucial, security of
transaction+
Bc!"round
Malayan /anking /erhad or more widely known as May*ank, is the largest *ank and
financial group in Malaysia+ May*ank first introduced its tele.*anking and e.*anking in
the ))0s following the introduction of &utomated 7eller Machines (&7M) a decade ago+
7he service was named May*ank2u+com and it was the first launched internet *anking in
the country+ 7he group had since won many accomplishments: the company was ranked
23@
th
in the <or*es Elo*al 2000 leading companies, Elo*al <inance &ward for /est
(onsumer Internet /ank and /est (onsumer 6nline 0ecurities 7rading in &sia %acific *y
7he Elo*al <inance Maga8ine in 2002+ In the same year, May*ank2u+com also formed a
partnership with Microsoft in Malaysia and 0ingapore to have access to over + million
internet users of Microsoft (Fernon !yana, 0+, 2001)+ May*ank continued to earn its
reputation in 201 recently for attaining awards in /anking ? %ayments &sia 7rail*la8er
&wards for (hannel #-cellence in Internet G 6verall, (hannel #-cellence in Internet G
&ccount Management, 0ervice #-cellence in 0ervice Innovation and along with other
forty seven awards in *anking and finance (May*ank, 201)+ Bence, it is clearly seen
here that the consumers" *rand trust for May*ank2u+com has not *een challenged
throughout these years+ 7&( 2002
T#$ K$% Mod$& o' E-(n!in" in M&%)i
&s a user of May*ank2u+com for more than ten years, it is naturally easy for me to write
a*out what the we*site has to offer+ &ccording to (elent"s Model /ank in 202, a *ank
needs to have the following components in their effective implementation of technology