How the impact and evolution of technology and online services improved the relationship between Maltese banks and their clients

Abstract

The rapid evolution of technology and its adoption in the banking operations has changed the way on how banks operate and deliver services to their clients. The use of technology and online services has caused a shift from the use of traditional banking to online channels based on an electronic system, and it has also improved the relationships between banks and their customers. Online services used by banks are a mix of efficiency, flexibility, cost and time reduction, although they might also cause problems, as most of the times customers are faced, for the first time, with such new technologies and devices. The goal of this thesis is to offer a broad view of the different technologies and online services used by Maltese banks, the benefits and the problems encountered by customers when they make use of new online services being offered, recommendations for improving banks’ approach towards their clients as well as suggestions on how banks should deal with customers’ expectations and needs. This thesis makes use of a qualitative approach in order to analyse the study from the banks’ perspective.