Increasing Trend of E-Commerce in Banking Sector

E-commerce has contributed highly to the process of placing the economic world in the position it is today. Not only has the concept made it possible for businesses to grow their competitive advantage, but has also helped improve customer care and overall quality of service delivery by businesses. Among the institutions for which e-commerce has provided an immense advantage is the banking sector. However, adoption of e-commerce in banking has not been as robust as would be anticipated. Some factors have been attributed to the slow application of e-commerce in the fiscal industry. Even so, the concept of e-commerce has had some impact on the sector. This paper holds an account of findings of a research project aimed at finding out the contribution of e-commerce on the banking sector in the Kingdom of Saudi Arabia. The results presented that e-commerce has made it possible for consumers to access their services from banks easily, affordable and faster than in the conventional ways of banking. E-commerce has also contributed to the adoption of new innovations in banking which provide consumers with increased quality of service. The study also found out that besides these, e-commerce has also contributed to an increased imbalance in the maintenance of proper customer service and overall profits for banks in Saudi Arabia. In conclusion, the study was able to achieve its objectives by effectively gathering relevant answers to the research questions as was intended by the research.