The Impact of E-Banking in the Global Market Industry Essay

INTRODUCTION With the rapid globalization and the excessive market competition, it has become very difficult to survive without taking a step toward improving business services. Therefore, many banking sectors have realized the role of e-banking for their business success and have considered information technology as an integral part of their strategic objectives. Today, Information Technology or as usually abbreviated IT is perceived as the backbone that enables communication with people as well as institutions associated with the banking business. It is also considered as a reliable way to respond to the dynamic changes in the market environment. In addition, it can be an effective way to reduce costs, and at the same time to increase the quality of services. In this context, banks seek to collaborate and improve their services through integration. However, this integration can cause different problems between banks as they have different systems and different IT infrastructures.Integration is one of the most challenging factors for e-banking success 2. Despite this fact, the significant benefits of integration have enforced banks to increase the efforts to find a reliable way to address these problems 2, 17, 20. With this regard, Service Oriented Architecture (SOA) has emerged as a promising technology to address integration problems. SOA revolves around the notion that a service can be reused by many computers connected over a network, thus improving efficiency and reducing operation costs. It can provide banks with the robust and flexible IT infrastructure to meet their goals. It also acts as a platform to achieve compatibility requirements between different systems. Nevertheless, many banks have not obtained the benefits of integration, and they are reluctant to adopt SOA in e-banking for several reasons 10, 17. Reference 3 indicated that the factors influencing the adoption of SOA in e-banking have not been fully discussed in the previous related literature. More importantly, the methodological frameworks to understand these factors from different perspectives are missing. This paper presents an extensive...

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