Adoption and Acceptance of Online Banking: A Comparative Study of UK and Nigeria Retail Banks

Background

The explosion of the internet has revolutionised the banking sector and also enhanced the globalised flow of organisation finances and capital market (Klimis, 2010: Friedman, 2007). These has enabled the proliferation of product and services to meet the demands of the consumers, thus intensifying the organisation pressure to be competitive while seeking efficiency and greater productivity to remain profitable (Gandy, 2008). The development of the internet age has tremendously impacted the way business is operated in the banking sector and how activities are conducted by customers (Lee, 2009). In other for banks to retain their customers, they need to constantly update and create innovative ways to give customers a more expedient, reliable and convenient service. Considering the challenges banks face to capture and expand their product and services to a larger market, banks are forced to make more investment geographically.