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Research on Digital Technology - Bank of Scotland

University: London School of Science Technology

  • Unit No: 11
  • Level: Undergraduate/College
  • Pages 16 / Words 4000
  • Paper Type: Assignment
  • Course Code: R/508/0541
  • Downloads: 89
Question :

This unit is based on conducting research on Digital technology have changed business activity this resulted in business growth & more profitability.

  • Conduct research methodology which generates knowledge into the research process.
  • Analyze research related to research project
  • Communicate research outcomes to identify the stakeholders.
  • Provide reflection of the research methodology and concept.
Answer :
Organization Selected : Bank of Scotland


1.1 Overview of the research

Research project is a brief overview of specific area of concern so as to develop knowledge on it. This research is going to be conducted in order to recognise the impact of digital technologies, like – internet banking services on business performance by improving its brand image. In this present scenario, technology has affected the life of individuals as it makes easier the process of completing day to day activities. Expansion of digital technology has imbibed lives of people and introduce them various changes over the world in economic and business atmosphere. In banking sector, technological developments are liable for speed up communication with customers as well as transactions. In simple words, it makes easier the process of transferring cash from one account to another. Apart from this, the first part of research consists with a conceptual analysis and historical review of internet banking and elements which can affect the same. In second chapter, literature has reviewed in theoretical form so as to fulfil the gap between problem statement and desired outcomes. A research methodology will be conducted so as to prepare a hypothesis by considering data collection techniques, reliability, limitations and validity of the study. Data analysis will be done through information that is gathered through people who use online banking. Then, different findings will be given which can perceptual the gap between public and private sector banks and various managerial implications.

1.2 Significance of the research

Due to the rapid growth of Internet banking in past decades is a clear indicant of consumer acceptance of this media. However, the impact of Internet Banking on customer satisfaction and loyalty in UK is yet to be established as few studies have addressed this issue. The present research is conducted to determine that how internet banking affects customers' satisfaction level and improves business performance. Due to technological advancements, business environment of financial sector is totally change and experience rapid changes in demands of customers. Evolution of ATM machines leads internet banking; the concept is widely used in all economies so as to enhance quality of services. In UK, many banks are providing internet banking services to their target audiences so as to enhance customer experience and gain high competitive edge. Following are the main significance of the study-

  • Outcomes or findings of the study will be useful for management of financial sectors of UK as identifying the impact of internet banking services on business performance.
  • The study will also serve a resource base for other researchers who have an interest in carrying out another research on the same topic, if applied then topic will be extend and provide new explanation.

1.3 Background of the research

The study is based upon implementation of new technologies, i.e. internet banking on increases business performance. It will cover all aspects which have a vast impact on internet banking services by carrying examination of its hindrance on obtaining customer satisfaction level. For completion of the study, Bank of Scotland Plc is the chosen organisation; its a commercial and clearing financial institute which is located in UK. It was the first bank which introduces its own printed bank notes and still printing under legal arrangements. Bank of Scotland is a subsidiary of Lloyds Banking Group since 19 January 2009, when HBOS was acquired by Lloyds TSB. There are over 20000 employees are currently working with it and expand worldwide to provide effective financial services to people. The organisation also involves itself in providing Internet Banking services which comprises future, dated and recurring bill payments and funds transfers. Firm also provides other facilities through net banking like - loan application, e-trade, fund management, customisation of account names, ability to export banking transactions to popular financial management software packages such as Microsoft Money or Intuit Quicken.

1.4 Research aims and objectives

Research aim - To determine the impact of internet banking services on customer satisfaction level and business performance. A case study on Bank of Scotland.

Research objectives – Some of main research objectives are stated as under: -

  • To determine the importance of internet banking services in banking transactions.
  • To ascertain the impact of internet banking services on customer satisfaction and business performance level.
  • To find out the factors which can limiting the use of internet banking for Europeans.
  • Recommend ways through which Bank of Scotland can improves the quality of services and gain high competitive edge.

Research questions: -

Q1. What is significance of internet banking for a financial sector?

Q2. How internet banking services can affect customers' satisfaction level and business performance?

Q3. What are the factors which can limiting the use of internet banking?

Q4. Justify the ways of improving quality of services.


This part of research is a theoretical framework which describes viewpoints of various authors who have made study on same topic so as to get relevant information and arrive at better conclusion. In this paper, there is presented a review of literature on internet banking and the factors that may impact internet banking and customer satisfaction and loyalty.

2.2 Importance of internet banking in facilitating business transactions

The term internet banking is defined as utilising internet and telecommunication network in order to provide effective banking services to target audiences. By using this, customers can inquire necessary information, such as – account balance inquiry, bill payment, fund transfers to other accounts by a single click at home. In past decades, internet banking is used for current and credit card accounts but as per the time passes it is acquired for making investments and insurance. In this modern era, almost all financial sectors are offering online banking services by having a special care, i.e. security, privacy as well as confidentiality of information to consumers. Security protection involves organisation’s security policies, unauthorised intrusion detector, secure server rooms and related Internet security technologies which makes easier the process of money transactions.

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