Affects of Consumer Trends on the Online Banking in Hungary (Dissertation Sample)

  Effects of Consumer Trends on the Online Banking in Hungary Name: Date:  
  TABLE OF CONTENTS

1. Introduction………………………………………………………………………………3

1.1  Problem Statement…………………………………………………………………3 1.2   Thesis Statement…………………………………………………………………..4 1.3  Outline of the paper……………………………………………………………...…4

1. Literature Review………………………………………………………………………..5

2.1  Online Banking……………………………………………………………...………6 2.2  Consumer Trends…………………………………………………………………..8 2.3   Theoretical Background……...……………………………………………………9

1. Research Methodology ……………………………………………………………….10

3.1  Population………………………………………………………………………….11 3.2  Data Collection…………………………………………………………………….11 3.3  Data Analysis………………………………………………………………………11 3.4   Reliability and Validity………………………………………...………………….12

1. Findings…………………………………………………………………………………12

4.1  Consumer Trends…………………………………………………………………12 4.2  Effects of Consumer Trends on Online Banking…………………………14

1. Counter Argument………………………………………………………………...16
2. Conclusion………………………………………………………………………….16

     

1. 1.    Introduction

In the recent past, innovation in the banking industry has tremendously improved. The improvement is a quest by the banking industries to beat competition from other financial institutions. Accelerating costs in the banking industry has also fuelled the innovations in the sector. The increase in innovations is also attributed to the increase I number of financial institutions, particularly in Europe. There are a significant number of banks i9n the vats Europe, particularly Hungary. With powerful economic institutions such as Citibank in Hungary, the banking sector in the country is changing. The change is attributed to an increase in customers. Millions of citizens from Hungary have accounts with several financial institutions. This fact has fueled the increase and improvement of the latest financial innovation; internet banking or online banking. Internet banking is the latest innovation in the banking sector in Hungary. It is a move to revolutionize and modernize the banking sector. It is a development which has impacted significantly in the banking sector. The banking sector is also faced with changing consumer trends. Such trends have a substantial impact on the banking system in Hungary. The objective of this paper is to indent and evaluate the impacts of consumer trends on online banking in Hungary (Burke, 2002).

1.1      Problem Statement 

  According to Chen et al (2002), consumer trends have had an impact on online banking in Hungary. As will be seen in this paper, the changing modern consumer trends have revolutionized online banking in Hungary. There are incomplete assumptions by various scholars that consumer trends have no impact on online banking. Additionally, the assumptions have it that consumer trends impact negatively on online banking, particularly in Hungary. Reviews and empirical studies have revealed that the assumptions are not reliable. Such assumptions have the ability to influence consumer trends and hence online banking. A thorough analysis should, therefore, be done to define the in-depth impact of consumer trends on online banking in Hungary. Mainly, a detailed analysis should evaluate the precise impacts of consumer trends on online banking in Hungary. This paper will, therefore, argue that consumer trends have a substantial impact on online banking in Hungary.

1.2      Thesis Statement 

  From the above problem statement, and contrary to assumptions made, consumer trends have an impact on online banking. As will evaluate in this paper, it is evident that consumer trends have a significant positive impact than negative impact on online banking in Hungary.

1.3      Outline of the Paper

 

• Chapter 2- Literature Review- this chapter is structured in several aspects. For instance, this chapter explains all the basic terminologies used in consumer trends and online banking. The chapter explains the driving factors on the impact of consumer trends on online banking in Hungary. This chapter also describes the theoretical background in online banking and impacts from consumer trends in Hungary.
• Chapter 3-research Methodology- the purpose of this chapter is to evaluate the statistical data acquired via observations and reviews of banking reports in Hungary.
• Chapter 4-Findings

Consumer Trends-this chapter will analyze the existing and current consumer trends. This chapter provides a clear insight of the consumer trends and the driving factors of the current consumer trends. The basis of the current consumer behavior is learning about the fluctuations involved.  Factors affecting the fluctuations will also be evaluated in details. It is essential to understand the fluctuation consumer trends. This will assist in evaluating their impact on online banking, precisely in Hungary. Effects to Online Banking in Hungary

• Chapter 5-counter argument-this chapter will evaluate the thesis statement contrary to what is assumed. It will include discussions to refute the current assumptions on effects of consumer trends in online banking in Hungary.
• Chapter 6- Conclusions

1. 2.    Literature Review

The idea of online banking as it is known dates back in the late 20th century in Hungary.  The concept began with Presidential Savings Bank of USA.  The idea was then adopted by other financial institutions around the globe. As mentioned earlier, most financial institutions adopted online banking as a move to beat the aggressive competitors. It was used to give the banks a competitive advantage. The concept developed from a virtually insignificant move to a usage by millions of customers throughout the world. It has since developed to be very significant specifically to banks; it has enabled cost savings and a new delivery channel for the banks. Online banking, also known as electronic banking has gone through different transitions in its quest for revolution.  Automated Teller Machines were used as the first machines to provide electronic services. The use of AT...