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Internet Banking in Emergency Markets The Case of Jordon - A Note

Abstract

The goal of this paper is to replicate the Diniz (1998) survey using the case of Jordan as an example of an emerging market. The Diniz framework was developed in order to learn about Web banking models and their adoption in the United States. The findings clearly indicate a gap between Jordanian bank web application and American bank web application. In a more general framework we can extrapolate this commentary to the gap between web usage in developing and developed countries. Kurtas (2000) found that American banks use their web sites not only to provide classical operations such as fund transfer or account details, but also to provide stock trading in the world markets, financial calculators, investment advice, and bill payments. American bank are now using very high technology in encryption in order to provide safety and privacy. They have reached a stage where a number of banks are operating entirely via web without any need for physical location. On the other hand, very limited evidence of web usage at this level was found among Jordanian banks. Both American and Jordanian banking industries do however exhibit weaknesses in the advanced levels of all web opportunities, particularly with regards to customer relationships. Our preliminary results indicate that Jordanian banks have been successful in the introductory phase of web banking. What is now required is to focus on moving Jordanian web banking usage forward with a view to conducting real financial transactions and improving electronic customer relations. This objective can be generalized to banks in developing economies who can no longer ignore the internet as a strategic weapon and distribution channel for their services.

Dr. Raed Awamleh,Prof. John Evans,Dr. Ashraf Mahate

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