Factors Influence Development of E-Banking in Malaysia

By Chai Lee Goi, Curtin University of Technology, Sarawak Campus

Web: http://www.curtin.edu.au ; http://www.curtin.edu.my
Email: goi.chai.lee@curtin.edu.my ; goichailee@hotmail.com

Goi is lecturer for Internet Marketing, School of Business, Curtin University of Technology, Sarawak Campus, Malaysia.

Visit for more related articles at Journal of Internet Banking and Commerce

Abstract

There are several underlying forces coming together have caused the E-banking development in Malaysia. The development mainly because of new marketing strategy especially to create ECustomer Relationship Management (E-CRM) and to improve banking activities. The other reasons are development of technology, applications and tools, as well as supported by the government.

Introduction

E-banking is the wave of the future. It provides enormous benefits to consumers in terms of ease and cost of transactions, either through Internet, telephone or other electronic delivery channels (Nsouli and Schaechter, 2002) (see Figure 1).

Figure 1: E-Banking

The evolution of the E-banking industry can be traced early 1970s. Banks began to look at E-banking as a means to replace some of their traditional branch functions for two reasons. Firstly, branches were very expensive to set up and maintain due to the large overheads associated with them. Secondly, Ebanking products/services like ATM and electronic funds transfer were a source of differentiation for banks that utilised them. Being in a fiercely competitive industry, the ability of banks to differentiate themselves on the basis of price is limited (Singh, Chhatwal, Yahyabhoy and Yeo, 2002).

E-banking development would lead to two classes of surviving banks, which are very large banks and small niche ones (Dewan and Seidmann, 2002). Through the E-banking, smaller banks could compete by offering portals to the services offered by larger banks (Holland and Westwood, 2001). With this development, banks could use E-banking to focus on customer needs in order to gain the strongest competitive advantage (Wind, 2001).

The transformation from traditional, bricks-and-mortar banking to E-banking has been momentous. Not since the advent of the automatic teller machine (ATM) has the retail banking industry witnessed such significant and extensive change. Formally, E-banking comprises various formats or technologies, including telephone (both landline and cell phones) banking, direct bill payment (Electronic Funds Transfer (EFT)), and PC or Internet banking (Power, 2000; Weitzman, 2000; Lassar, Manolis and Lassar, 2005). Chou and Chou (2000) identified five basic services associated with online banking: view account balances and transaction histories; paying bills; transferring funds between accounts; requesting credit card advances; and ordering checks.

E-Banking in Malaysia

All licensed banking institutions in Malaysia are allowed to establish informational Web sites, which is the first stage of business purpose and the basic online business activity, "promotion" (Ho, 1997). Only banking institutions licensed under the Banking and Financial Institutions Act 1989 and the Islamic Banking Act 1983 are allowed to offer Internet Banking services in Malaysia (BankInfo, 2005). For advanced Internet banking services, only domestic banking institutions are allowed to establish communicative or transactional Web sites with effect from June 1, 2000. However, locally incorporated foreign banks are only allowed to incorporate communicative Web sites from Jan 1, 2001 and transactional Web sites from Jan 1, 2002 (Low, 2000). There are 12 banks offering Internet banking facilities while five have introduced mobile banking (Bank Negara Malaysia, 2003).

The introduction of the Inter-Bank GIRO system, an electronic credit transfer system in 2000 had recorded on annual average increase in transactions of 160% in terms of volume and nearly 200% in terms of value between 2003 and 2004. The credit card is also becoming a popular means of payment card, with the total value and volume of increasing annually by 15 and 20 percent respectively. The growing acceptance of Internet banking as a convenient delivery channel for accessing banking services has translated into a significant growth of Internet banking subscribers, which today comprise two thirds of the total Internet subscribers. The latest mode of electronic payments channel is the mobile banking services that provide convenience to consumers to access a range of payment services such as funds transfers, bill payments and credit card services through mobile phones. In addition, the establishment of an Internet-based multi-bank payment system in Malaysia, the Financial Process Exchange in October 2004 would facilitate online payments for a variety of payments by providing convenience and an efficient channel for businesses and consumers to undertake their payment transactions through the Internet (Bank Negara Malaysia, 2005).

E-Banking Development

There are several underlying forces coming together have caused the E-banking development in Malaysia:

New marketing strategy

E-Customer Relationship Management (E-CRM)

CRM phenomenon in light of the drivers of banking innovation since the 1970s, one might wonder if CRM itself is the innovation or the technology (CRM Today, n.d). The Bank recognised that it needed to adopt a CRM strategy and that it had to move from a service-driven organisation to a more pro-active, sales-driven organisation (IBM, 2004). Research on CRM has increased significantly over the past few years. The study by Ngai (2005) identified 205 CRM articles published between 1992 and 2002 (see Table 1). CRM has power to help bankers quickly and directly improve customer satisfaction. CRM is an added dimension to ensure that what the customer expects is consistent with what the bank is CRM is an approach that is less focused on providing the right services to the customer than attracting customers who are the right fit for what the bank has to offer. Further, the primary value of CRM is its potential as a customer retention tool. People are starting to measure CRM in terms of increased customer satisfaction rather than ROI (CRM Today, n.d).

Table 1: Classification of reviewed literature

Majority of banks is planning to introduce ICT for integration of banking services and new finance services, which will play a vital role in bringing efficiency in the financial sector (Raihan, 2001). The most commonly factors are ease of use, transaction security, convenience and speediness (see Table 2) (Wan, Luk and Chow, 2005).

The rapid pace of advancement in ICT networking has offered a wide range of delivering channels in retail banking. Banking institutions need to exploit the opportunities that arise from these developments and changes to remain competitive. The successful financial institutions in the future will be those that are able to leverage most from the information and communications technology revolution. Increasingly, consumers are also demanding more efficient banking services and are becoming more discerning of the power that the technology brings. The winners will be those financial institutions that are able to harness on the capability of ICT in making strategic decisions in terms of enabling better alignment of business, enhancing organisational capacity and capability, risk management and building better customer relationship. Attention at the highest management level is therefore vital to ensure the formulation of the most appropriate ICT strategies for banks to remain competitive (Bank Negara Malaysia, 2003).

Table 2: Summary of Research Findings on Psychological Factors Associated with Banking Channel Adoption

Development of Technology, Applications and Tools

Technology continues to make a dramatic and profound impact in service industry and radically shapes how services are delivered (Bitner et al., 2000). The primary motivation for the increasing role of technology in service organisations has been to reduce costs and eliminate uncertainties (Kelly, 1989) as well as being used to standardise services by reducing the heterogeneity prevalent in the typical employee/customer encounter (Quinn, 1996; Durkin, 2004).

For example, Bumiputra Commerce Bank (BCB) had engaged Cyber Village for a project to transform their existing Internet Banking system, with the project codenamed "Transformation of Internet Banking System" (TIBS). The objectives of TIBS were to transform BCB's existing Internet banking system to offer improved user experiences, increase technical flexibility and enhance its Internet banking operations efficiency for both consumer as well as business banking. TIBS seeked to successfully deliver an enterprise-class Internet Banking platform that could provide a superior online user experience whilst leveraging on a cost-effective, flexible, scalable and proven technology platform. The project is leveraging on the IBM Websphere platform and DB2 database. Cyber Village is the first local e-business software company which has successfully implemented a fully operational enterprise-class Malaysian designed and developed Internet Banking system for a Malaysian bank, leveraging on a cost-effective, flexible, scalable and proven technology platform. Featured modules include:

• Detailed Account Enquiry Modules

• Fund Transfer, Bill Payment, Standing Instruction Modules

• Detailed Audit Trails

• Secure Messaging Modules

• Mobile Banking Modules

• Payment Gateway

• Powerful backend maintenance and administration modules

• User Friendly Support Centre

After the Lynx has been used at the early time, the Web first became widely available to the public in 1993 with the dissemination of the first Web browser called Mosaic. After that, the introduction of Netscape in 1994, Internet Explorer in 1995 and Opera in 1996 has increased number of Internet users. The development of graphical and user friendly Web browsers has continued to this day helps the developer to add with creative and innovative Web site design based on their requirement especially for business purposes.

In terms of Web site features, consumers will take into consideration the accessibility of the Web site, loading speed, navigation process, online direction, updated information and availability of alternative access such as telephone number and physical outlet address. These Web site characteristics are related to technical performance and sometimes depend on Internet service providers and server connection (Tih and Ennis, 2006).

In today's competitive environment, marketers are looking for new and innovative methods to build a powerful Web site. Web applications are used to implement Webmail, online retail sales, online auctions, wikis, discussion boards, weblogs, MMORPGs, video logging and perform many other functions.

A significant advantage of building Web applications to support standard browser features is that it should perform as specified regardless of the operating system or OS version installed on a given client. Rather than creating clients for Windows, Mac OS X, GNU/Linux and other operating systems, the application can be written once and deployed almost anywhere. However, inconsistent implementations of the HTML, CSS, DOM and other browser specifications can cause problems in Web application development and support. The ability of users to customise many of the display settings of their browser such as selecting different font sizes, colours and typefaces or disabling scripting support can interfere with consistent implementation of a Web application (Wikipedia, 2006).Q

Most of the Web browsers support for Flash or Java-based applications. While many web applications are written directly in PHP or mod_perl. There are many Web application frameworks, which automate the process by allowing the programmer to define a higher-level description of the program. The use of Web application frameworks can often reduce the number of errors in a program, both by making the code more simple, and by allowing one team to concentrate just on the framework. In applications, which are exposed to constant hacking attempts on the Internet, security-related problems caused by errors in the program are a big issue. Java remains one of the most common programming languages for writing Web applications. This is specially true for web based enterprise applications. J2EE provides several useful components (JavaServer Pages, servlets, client-side applets, Enterprise Java Beans, JDBC and several Web service technologies) for writing enterprise Web applications (Wikipedia, 2006).

Information security is today a rather sophisticated and complex issue. No longer can it be a subset of the MIS department or even part of the operational purview. For example, few of the leading Malaysian banks have established a team of security experts, both physical and info security to regulate and manage the organisation's security. This is supplemented with collaboration with third-party information security service providers who offer more than the mandatory penetration testing. These experts work in partnership with the in-house security team to design, develop and manage the security infrastructure for the bank. The interesting aspect is that in line with the evolving security needs of the bank, the security infrastructure and system also evolve, being modified and updated to stay relevant in almost real time. The security infrastructure involves the monitoring services, detection systems, preventive measures and security hardware, but most importantly the human systems that work within. More often than not, the only way to compromise a well-protected and secure organisation is through human error (See, 2003).

Supports from the Government

Two of the MSC Flagship Applications, which are E-business and multipurpose card hopefully can improve the banking industry especially in E-banking. The E-business cluster aims to shape an electronic business environment competitive with the major economic powers. This cluster has an enormous potential market that could be one of the driving forces for future economic growth. It is transforming the way in which business was conducted and it enables businesses to become more adaptive and responsive. The E-business aims to provide more efficient and better quality services to the community, and encourage the business and community to accept electronic business as an integral part of their daily lives (MSC, 2006a). For the payment multipurpose card, the main objective is to have a near zero fraud with the complete migration from magnetic stripe to chip based Bankcard. 13.4 million Bankcards are EMV compliant. 4,590 (99.2%) ATMs also upgraded to accept ATM application in MyKad. ATM application in MyKad can be activated at the following 5 Banking institutions (481 branches): Bumiputra-Commerce Bank, Maybank, Public Bank, Bank Islam and Citibank (MSC, 2006b).

Bank Negara Malaysia's minimum guidelines on the Provision of Internet Banking Services, which was issued in May 2000, requires banking institutions to have face-to-face interaction with customers prior to the opening of accounts or the extension of credit. Banking institutions are also required to establish appropriate measures to identify customers reached over third party websites and the customer verification process as stringent as that for face-to-face customers. In providing Internet banking services, banking institutions are also required to implement monitoring and reporting mechanisms to identify potential money laundering activities. This enables the Central Bank to ensure that the banking industry, while keeping abreast with developments in ICT that is ICT would maintain the integrity of the financial system and prevent it from being abused by the money launderers (Bank Negara Malaysia, 2001).

The banking system policy has evolved from financial sector restructuring during the late 1990s to institutional development and capacity building, and the development of supporting infrastructure to enhance efficiency and the strengthening of prudential regulation to enhance resilience and preserve stability. In terms of the development of the financial infrastructure, efforts were intensified towards evolving a more diversified financial infrastructure to facilitate the economic transformation into a more diversified economic structure. This has involved the development of a more diversified financial structure anchored by a more efficient and resilient banking system, to support economic transformation and growth. The strategies to achieve this vision are outlined in the Financial Sector Masterplan launched in March 2001. Positive results have been achieved on several fronts of E-banking (Bank Negara Malaysia, 2004):

• Domestic banking institutions have also embraced a higher level of technology and improved business processes

• New delivery channels through innovative technology-based mechanisms such as Internet and mobile banking have enhanced the delivery of products and services as well as widened access to banking services.

• The enhancement to the legal infrastructure including enactment of the Payment Systems Act 2003 will serve to strengthen Bank Negara Malaysia's payment system oversight and to provide the legal framework to ensure that payment systems are protected from disruptions and its consequent effects on financial stability.

The Government had announced in the 2006 Budget its intent to increase the acceptance of electronic means of payment with the Government and to promote the use of E-payments nationwide. This should provide a catalyst for the adoption of E-payments on a national scale, as most individuals and businesses have payment transactions with the Government. Key to making this a success is the need to review the business and operating practices and address any impediments that may hinder the use of e-payments. These practices ranges from the inability to store and collect bank account numbers, acknowledging electronic payment and receipt notices, instructing payments electronically, and many more that may be identified during the discussions at this forum. All corporations and institutions that are present at this forum should consider undertaking a business process reengineering in your own organisation to fully use the E-payment channels that are being offered by the service providers and the financial institutions (Bank Negara Malaysia, 2005).

Conclusion

Banking platforms need to cope with continuously changing business environments and a continuous flood of new requirements, while staying sufficiently agile. Banking platform renewal requires thorough preparation based on a business foundation, including a description of what functionality the business side can expect (Xcom AG, 2006).

Two crucial factors face the financial services industry as it enters the third Millennium. First, consumers continue to demand individualised goods and services, and to demand them faster than ever. Second, the world is undergoing a "Knowledge Revolution" whose consequences will dwarf even those of the industrial revolution. These two trends converge in the new digital media that will allow everyone to interact and transact with their banks from virtually anywhere. The means and devices available to banks to conduct these transactions will be just as varied. People will choose whatever means is most convenient for any occasion. That could mean face-to-face at a branch, over the telephone, using a self-service device such as an ATM, or through a personal computer or television at home. Business, especially banking will continue to be people-led if increasingly technology-enabled. But one emerging benefit of the new revolution will be the recreation of the intimacy of small-town banking that existed when banks and businesses knew each other personally. These new E-communities will not be based on geography, but on need and interest (O'Connell, 2000).

E-banking is offered by many banking institutions due to pressures from competitions (Yang, 1997). Banks will likely lose their competitiveness if they delay their actions in offering transactions based services on the Internet because customers are very comfortable in using computers as well as remote banking services. The low costs of computer and communication devices will encourage customers to move in to E-banking much faster than they did in the case of ATMs. If banks can't meet these customer demands quickly, they will lose a substantial part of their business in the next 5 to 10 years. Traditional banks have to move into other markets quickly. As cyberbanks move in to the investment market and merchant market in addition to retail banking, traditional banks will lose their competitive edge if they allow these cyberbanks to become leaders in Internet banking. In the end, to be successful, banks have to drive Internet banking instead of being pushed into it by others (Yan and Paradi, 1998). To add further convenience to the customers, many banking institutions are working together to form an integrated system. On the other hand, this has not been readily accepted by its users due to the concerns raised by various groups, especially in the areas of security and privacy. In order to reduce the potential vulnerabilities regarding to the security, many vendors have developed various solutions in both software-based and hardware-based systems. In order for E-banking to continue to grow, the security and the privacy aspects need to be improved. With the security and privacy issues resolved, the future of E-banking can be very prosperous. The future of electronic banking will be a system where users are able to interact with their banks "worry-free" and banks are operated under one common standard (Yang, 1997).

With the rapid growth of information communication and technology, especially in Internet based services, with supports from the government, there has been increased interest in E-banking service.

Finally, the future is not in information technology or technology that only facilitates transactions but in relationship technology (O'Connell, 2000).

References

1. Abbott, J. (2001), Data Data Everywhere - And Not A Byte of Use?, Qualitative Market Research, Vol. 4, No. 3, pp. 182 - 192.
2. Abbott, J.; Stone, M.; and Buttle, F. (2001a), Customer Relationship Management in Practice – A Qualitative Study, Journal of Database Marketing, Vol. 9 No. 1, pp. 24 - 34.
3. Abbott, J.; Stone, M.; and Buttle, F. (2001b), Integrating Customer Data Into Customer Relationship Management Strategy: An Empirical Study, Journal of Database Marketing, Vol. 8 No. 4, pp. 289 - 300.
4. Agnihothri, S.; Sivasubramaniam, N.; and Simmons, D. (2002), Leveraging Technology to Improve Field Service, International Journal of Service Industry Management, Vol. 13, No. 1, pp. 47 - 68.
5. Almquist, E.; Heaton, C.; and Hall, N. (2002), Making CRM Make Money, Marketing Management, Vol. 11, No. 3, pp. 17 - 21.
6. Anderson, E.T. (2002), Sharing the Wealth: When Should Firms Treat Customers as Partners?,Management Science, Vol. 48, No. 8, pp. 955 - 971.
7. Arnold, D.; Birkinshaw, J.; and Toulan, O. (2001), Can Selling Be Globalized? The Pitfalls of Global Account Management, California Management Review, Vol. 44, No. 1, pp. 8 - 22.
8. Retention, Journal of Targeting, Measurement and Analysis for Marketing, Vol. 10, No. 1, pp. 79 - 87. Baker, S.; and Baker, K. (1998), Mine Over Matter, Journal of Business Strategy, Vol. 19, No. 4, pp. 22 - 26.
9. Baker, T. (2002), Customer-Focused Organisations: Challenges for Managers, Workers and HR Practitioners, The Journal of Management Development, Vol. 21, Nos 3/4, pp. 306 - 314. BankInfo (2005), Available at: http://www.bankinginfo.com.my.
10. Bank Negara Malaysia (2001), Governor's Welcoming Remarks at the 4th Annual Meeting of the Asia/Pacific Group on Money Laundering, Speech by Governor of Bank Negara Malaysia, Tan Sri Dato' Sri Dr. ZetiAkhtar Aziz at Mandarin Oriental Hotel, Kuala Lumpur, 22 May, Available at: http://www.bnm.gov.my/index.php?ch=9&pg=15&ac=2.
11. Bank Negara Malaysia (2003), Governor's Speech at the Promotion of Electronic Banking & Payments Launching Ceremony, Electronic Banking: The Way Forward, Speech by Governor of Bank Negara
12. Malaysia, Tan Sri Dato' Sri Dr. ZetiAkhtar Aziz at Nusantara III, Sheraton Imperial Hotel, Kuala Lumpur,8 May, Available at: http://www.bnm.gov.my/index.php?ch=9&pg=15&ac=131.
13. Bank Negara Malaysia (2004), Governor's Keynote Address at the Malaysian Banking Summit 2004: Towards World-Class Banking - Efficient, Effective and Resilient Banking System, Speech by Governor of Bank Negara Malaysia, Tan Sri Dato' Sri Dr. ZetiAkhtar Aziz at Nikko Hotel Kuala Lumpur, 14 May, Available at: http://www.bnm.gov.my/index.php?ch=9&pg=15&ac=150 .
14. Bank Negara Malaysia (2005), Governor's Keynote Address at the Payment Systems Forum and Exhibition 2005, Speech by Governor of Bank Negara Malaysia, Tan Sri Dato' Sri Dr. ZetiAkhtar Aziz at Kuala Lumpur Convention Centre, 28 November, Available at: http://www.bnm.gov.my/index.php? ch=9&pg=15&ac=187.
15. Barlow, A.A. (2001), Breaking Through Language Barriers, Marketing Health Services, Vol. 21, No. 2, pp. 30 - 31.
16. Bapna, R.; Goes, P.; and Gupta, A. (2001), Comparative Analysis of Multi-Item Online Auctions: Evidence From the Laboratory, Decision Support Systems, Vol. 32, No. 2, pp. 135 - 153.
17. Bauer, H.H.; Grether, M.; and Leach, M. (2002), Building Customer Relations Over the Internet, Industrial Marketing Management, Vol. 31, No. 2, pp. 155 - 163.
18. Bayon, T.; Gutsche, J.; and Bauer, H. (2002), Customer Equity Marketing: Touching the Intangible, European Management Journal, Vol. 20, No. 3, pp. 213 - 222.
19. Beckett-Camarata, E.J.; Camarata, M.R.; and Barker, R.T. (1998), Integrating Internal and External Customer Relationships Through Relationship Management: A Strategic Response to a Changing Global Environment, Journal of Business Research, Vol. 41, No. 1, pp. 71 - 81.
20. Bhattacherjee, A. (2001), An Empirical Analysis of the Antecedents of Electronic Commerce Service Continuance, Decision Support Systems, Vol. 32, No. 2, pp. 201 - 214.
21. Birkinshaw, J.; Toulan, O.; and Arnold, D. (2001), Global Account Management in Multinational Corporations: Theory and Evidence, Journal of International Business Studies, Vol. 32, No. 2, pp. 231 - 248.
22. Bitner, M.J.; Ostrom, A.L.; and Meuter, M.L. (2002), Implementing Successful Self-Service Technologies, Academy of Management Executive, Vol. 16, No. 4, pp. 96 - 109.
23. Blosch, M. (2000), Customer Knowledge, Knowledge and Process Management, Vol. 7, No. 4, pp. 265 - 268.
24. Bose, R. (2002), Customer Relationship Management: Key Components for IT Success, Industrial Management & Data Systems, Vol. 102, No. 2, pp. 89 - 97.
25. Bradshaw, D.; and Brash, C. (2001), Managing Customer Relationships in the E-Business World: HowtoPersonalise Computer Relationships for Increased Profitability, International Journal of Retail &Distribution Management, Vol. 29, Nos 11/12, pp. 520 - 530.
26. Brotherton, D. (2000), CRM Analytics: The Fuel for the Engine, Journal of Financial Services Marketing, Vol. 5, No. 2, pp. 174 - 180.
27. Buttle, F.; and Boldrini, J. (2001), Customer Relationship Management in the Pharmaceutical Industry: The Role of The Patient Advocacy Group, International Journal of Medical Marketing, Vol. 1, No. 3, pp. 203 - 214.
28. Calciu, M.; and Salerno, F. (2002), Customer Value Modelling: Synthesis and Extension Proposals, Journal of Targeting, Measurement and Analysis for Marketing, Vol. 11, No. 2, pp. 124 - 147.
29. Cannon, D.A. (2002), The Ethics of Database Marketing, Information Management Journal, Vol. 36 - 38, No. 3, p. 42.
30. Carmichael, D. (1997), IBM’s Journey Towards A Market-Driven Process-Managed Business Model, Journal of Market-Focused Management, Vol. 2, No. 1, pp. 99 - 103.
31. Chang, J.; Yen, D.C.; Young, D.; and Ku, C.Y. (2002), Critical Issues in CRM Adoption and Implementation, International Journal of Services Technology and Management, Vol. 3, No. 3, pp. 311 - 324.
32. Chattopadhyay, S.P. (2001), Relationship Marketing in An Enterprise Resource Planning Environment, Marketing Intelligence & Planning, Vol. 19, No. 2, pp. 136 - 139.
33. Chen, R.S.; Chen, M.H.; Chang, C.C.; and Hsu, S.H. (2002), Design and Implement A Web-Based Customer Relationship Management Prototyping System, International Journal of Computer Applications in Technology, Vol. 15, No. 6, pp. 297 - 305.
34. Chou, D.; and Chou, A.Y. (2000), A Guide to the Internet Revolution in Banking, Information Systems Management, Vol. 17, No. 2, pp. 51 - 57.
35. Choy, K.L.; Lee, W.B.; and Lo, V. (2002), Development of A Case Based Intelligent Customer-Supplier Relationship Management System, Expert Systems with Applications, Vol. 23, No. 3, pp. 281 - 297.
36. Coner, A.; and Gungor, M.O. (2002), Factors Affecting Customer Loyalty in the Competitive Turkish Metropolitan Retail Markets, Journal of American Academy of Business, Cambridge, Vol. 2, No. 1, pp. 189 - 195.
37. Cooper, B.L.; Watson, H.J.; Wixom, B.H.; and Goodhue, D.L. (2000), Data Warehousing Supports Corporate Strategy at First American Corporation, MIS Quarterly, Vol. 24, No. 4, pp. 547 - 567.
38. Corner, I.; and Hinton, M. (2002), Customer Relationship Management Systems: Implementation Risks and Relationship Dynamics, Qualitative Market Research, Vol. 5, No. 4, pp. 239 - 251.
39. Courtheoux, R.J. (2000), Database Marketing Connects to The Internet, Interactive Marketing, Vol. 2,No. 2, pp. 129 - 137.
40. Cox, T. (2000), Research Reveals UK Manufacturers Attitude to Customer Relationship Management, Supply Chain Practice, Vol. 2, No. 2, pp. 16 - 26.
41. CRM Today (n.d), Banking Innovations - Does CRM Qualify?, CRM Today, Available at: http://www.crm2day.com/library/EpuFkFFyEFaAQsopGg.php.
42. Crosby, L.A. (2002), Exploding Some Myths About Customer Relationship Management, Managing Service Quality, Vol. 12, No. 5, pp. 271 - 277.
43. Crosby, L.A.; and Johnson, S.L. (2001), High Performance Marketing in the CRM Era, Marketing Management, Vol. 10, No. 3, pp. 10 - 11.
44. Daniels, M. (2001), Customer Relationship Management (CRM): Profiting from Today's Customers, Serials: The Journal for the Serials Community, Vol. 14, No. 3, pp. 245 - 249.
45. Danna, A.; and Gandy, O.H. Jr (2002), All That Glitters Is Not Gold: Digging Beneath the Surface of Data Mining, Journal of Business Ethics, Vol. 40, No. 4, pp. 373 - 386.
46. Dewan, R.; and Seidmann, A. (2001), Current Issues in E-Banking, Communications of the ACM, Vol. 44, No.6, pp. 331 - 329.
47. Dibb, S. (2001a), Banks, Customer Relationship Management and Barriers to the Segment of One, Journal of Financial Services Marketing, Vol. 6, No. 1, pp. 10 - 23.
48. Dibb, S. (2001b), New Millennium, New Segments: Moving Towards The Segment of One?, Journal of Strategic Marketing, Vol. 9, No. 3, pp. 193 - 213.
49. Donbavand, R. (2002), Using Innovative Research to Build the Foundations of Actionable CRM Strategies, Interactive Marketing, Vol. 3, No. 3, pp. 243 - 253.
50. Dorsch, M.J.; Carlson, L.; Raymond, M.A.; and Ranson, R. (2001), Customer Equity Management and Strategic Choices for Sales Managers, Journal of Personal Selling & Sales Management, Vol. 21, No. 2, pp. 157 - 166.
51. Dorrington, P.; and Goodwin, J. (2002), The Role of Lifetime Value in Customer Relationship Management, Interactive Marketing, Vol. 4, No. 1, pp. 7 - 18.
52. Dowling, G. (2002), Customer Relationship Management: In B2C Markets, Often Less is More, California Management Review, Vol. 44, No. 3, pp. 87 - 104.
53. Doyle, S.; and Georghiou, J. (2001), Software Review: A Process Change Model to Meet the Enterprise Marketing Automation (EMA) Vision, Journal of Database Marketing, Vol. 8, No. 2, pp. 176 - 182.
54. Drew, J.H.; Mani, D.R.; Betz, A.L.; and Datta, P. (2001), Targeting Customers with Statistical and Data-Mining Techniques, Journal of Service Research, Vol. 3, No. 3, pp. 205 - 219.
55. Ellis-Chadwick, F.; McHardy, P.; and Wiesenhofer, H. (2002), Online Customer Relationships in the European Financial Services Sector: A Cross-Country Investigation, Journal of Financial Services Marketing, Vol. 6, No. 4, pp. 333 - 345.
56. Fahey, L.; Srivastava, R.; Sharon, J.S.; and Smith, D.E. (2001), Linking E-Business and Operating Processes: The Role of Knowledge Management, IBM Systems Journal, Vol. 40, No. 4, pp. 889 - 907.
57. Fairhurst, P. (2001), E-CRM, Journal of Database Marketing, Vol. 8, No. 2, pp. 137 - 142.
58. Fano, A.; and Gershman, A. (2002), The Future of Business Services in the Age of Ubiquitous Computing, Communications of the ACM, Vol. 45, No. 12, pp. 83 - 87.
59. Feinberg, R.A.; Hokama, L.; Kadam, R.; and Kim, I. (2002a), Operational Determinants of Caller Satisfaction in the Banking/Financial Services Call Center, International Journal of Bank Marketing, Vol. 20, No. 4, pp. 174 - 180.
60. Feinberg, R.A.; Hokama, L.; Kadam, R.; and Kim, I. (2002b), The State of Electronic Customer Relationship Management in Retailing, International Journal of Retail & Distribution Management, Vol. 30, No. 10, pp. 470 - 481.
61. Feinberg, R.; and Kadam, R. (2002), E-CRM Web Service Attributes As Determinants of Customer Satisfaction With Retail Web Sites, International Journal of Service Industry Management, Vol. 13, No. 5, pp. 432 - 451.
62. Ferguson, M. (2000), A Road Map to Becoming An Intelligent E-Business, Interactive Marketing, Vol. 2, No. 2, pp. 103 - 119.
63. Fink, J.; and Kobsa, A. (2000), A Review and Analysis of Commercial User Modeling Servers for Personalization on the World Wide Web, User Modeling and User-Adapted Interaction, Vol. 10, Nos 2/3, pp. 209 - 249.
64. Fink, J.; Koenemann, J.; Noller, S.; and Schwab, I. (2002), Putting Personalization Into Practice, Communications of the ACM, Vol. 45, No. 5, pp. 41 - 42.
65. Fletcher, L.A. (2001), Going Beyond the Buzzword: What Exactly is CRM?, Learned Publishing, Vol. 14, No. 3, pp. 213 - 222.
66. Forza, C.; and Salvador, F. (2002), Product Configuration and Inter-Firm Co-Ordination: An Innovative Solution From A Small Manufacturing Enterprise, Computers in Industry, Vol. 49, No. 1, pp. 37 - 46.
67. Foss, B.; Henderson, I.; Johnson, P.; Murray, D.; and Stone, M. (2002), Managing the Quality and Completeness of Customer Data, Journal of Database Marketing, Vol. 10, No. 2, pp. 139 - 158.
68. Furness, P. (2001), Techniques For Customer Modelling in CRM, Journal of Financial ServicesMarketing, Vol. 5, No. 4, pp. 293 - 307.
69. Galbreath, J.; and Rogers, T. (1999), Customer Relationship Leadership: A Leadership and Motivation Model for the Twenty-First Century Business, The TQM Magazine, Vol. 11, No. 3, pp. 161 - 171.
70. Gamble, P.; Chalder, M.; and Stone, M. (2001), Customer Knowledge Management in the Travel Industry, Journal of Vacation Marketing, Vol. 7, No. 1, pp. 83 - 91.
71. Garcia-Murillo, M.; and Annabi, H. (2002), Customer Knowledge Management, Journal of the Operational Research Society, Vol. 53, No. 8, pp. 875 - 884.
72. Gefen, D.; and Ridings, C.M. (2002), Implementation Team Responsiveness and User Evaluation of Customer Relationship Management: A Quasi-Experimental Design Study of Social Exchange Theory, Journal of Management Information Systems, Vol. 19, No. 1, pp. 47 - 69.
73. Gerrard, P.; and Cunningham, J.B. (2003), The Diffusion of Internet Banking Among Singapore Consumers, International Journal of Bank Marketing, Vol. 21, No. 1, pp. 16 - 28.
74. Gibbert, M.; Leibold, M.; and Probst, G. (2002), Five Styles of Customer Knowledge Management, and How Smart Companies Use Them to Create Value, European Management Journal, Vol. 20, No. 5, pp. 459 - 469.
75. Giltner, R.; and Ciolli, R. (2000), Re-think customer segmentation for CRM results, The Journal of Bank Cost & Management Accounting, Vol. 13 No. 2, pp. 3 - 5.
76. Groves, S. (2002), Customer Connections: A RIM Opportunity, Information Management Journal, Vol. 36, No. 2, pp. 44 - 47.
77. Hamm, S.; and Hof, R.D. (2000), Using the Net to Catch and Keep Customers, Strategic Direction, Vol. 16, No. 7, pp. 20 - 22.
78. Hansotia, B. (2002), Gearing Up for CRM: Antecedents to Successful Implementation, Journal of Database Marketing, Vol. 10, No. 2, pp. 121 - 132.
79. Hansotia, B.; and Rukstales, B. (2002), Incremental Value Modeling, Journal of Interactive Marketing, Vol. 16, No. 3, pp. 35 - 46.
80. Hart, S.; Hogg, G.; and Banerjee, M. (2002), An Examination of Primary Stakeholders Opinions in CRM: Convergence and Divergence?, Journal of Customer Behaviour, Vol. 1, No. 2, pp. 241 - 267.
81. Ha, S.H.; Bae, S.M.; and Park, S.C. (2002), Customer's Time-Variant Purchase Behavior and Corresponding Marketing Strategies: An Online Retailer’s Case, Computers & Industrial Engineering, Vol. 43, No. 4, pp. 801 - 820.
82. Hassanein, K. (2002), Image Data Mining of Check Transactions: Techniques and Applications, Journalof Information Technology Cases and Applications, Vol. 4, No. 4, pp. 4 - 21.
83. Helfert, G.; and Vith, K. (1999), Relationship Marketing Teams: Improving the Utilization of Customer Relationship Potentials Through A High Team Design Quality, Industrial Marketing Management, Vol. 28, No. 5, pp. 553 - 564.
84. Hirschowitz, A. (2001), Closing the CRM Loop: The 21st Century Marketer's Challenge: Transforming Customer Insight into Customer Value, Journal of Targeting, Measurement and Analysis for Marketing, Vol. 10, No. 2, pp. 168 - 178.
85. Ho, J. (1997), Evaluating the World Wide Web: A Global Study of Commercial Sites, Journal of Computer-Mediated Communication Vol. 3, Issue 1, June, Available at: http://www.ascusc.org/jcmc/vol3/issue1/ho.html.
86. Holland, C. P.; and Westwood, J.B. (2001), Product-Market and Technology Strategies in Banking, Communications of the ACM, Vol. 44, No. 6, June, pp. 53 - 57.
87. Hopkinson, G.; and Lum, C.Y. (2002), Valuing Customer Relationships: Using the Capital Asset Pricing Model (CAPM) to Incorporate Relationship Risk, Journal of Targeting, Measurement and Analysis for Marketing, Vol. 10, No. 3, pp. 220 - 232.
88. Hutt, L. (2000), Customer Relationship Management: The Profitability Challenge, The Journal of Bank Cost & Management Accounting, Vol. 13, No. 1, pp. 50 - 59.
89. Hymas, J. (2001), Online Marketing: Segmentation and Targeted Customer Strategies for the Web, Journal of Financial Services Marketing, Vol. 5, No. 4, pp. 326 - 331.
90. IBM (2004), Case study: Rabobank maximizes the value of its customer relationships in close cooperation with IBM, 12 November, Available at: http://www1.ibm.com/services/us/index.wss/casestudy/imc/a1006264?cntxt=a1000043.
91. Ingram, T.N.; LaForge, R.W.; and Leigh, T.W. (2002), Selling in the New Millennium: A Joint Agenda, Industrial Marketing Management, Vol. 31, No. 7, pp. 559 - 567.
92. Islam, M.M. (2005), Proposed ICT infrastructure for E-banking in Bangladesh, MSc Science, Royal Institute of Technology (KTH). SecLab, Department of Computer and Systems Sciences (DSV), Stockholm, Sweden.
93. Jain, R.; Jain, S.; and Dhar, U. (2002), Measuring Customer Relationship Management, Journal of Services Research, Vol. 2, No. 2, pp. 97 - 109.
94. Jarach, D. (2002), The Digitalisation of Market Relationships in the Airline Business: The Impact and Prospects of E-Business, Journal of Air Transport Management, Vol. 8, No. 2, pp. 115 - 120.
95. Jarrar, Y.F.; and Neely, A. (2002), Cross-Selling in the Financial Sector: Customer Profitability is Key, Journal of Targeting, Measurement and Analysis for Marketing, Vol. 10, No. 3, pp. 282 - 296.
96. Jauhari, V. (2001), Employee and Customer Management Processes for Profitability - The Case ofHewlett - Packard India, Journal of Services Research, Vol. 1, No. 1, pp. 149 - 159.
97. Jonson, K.M.C. (1999), New Ways of Organizing the Realization of Customer Value – A New Challenge for The Twenty-First Century, The TQM Magazine, Vol. 11, No. 6, pp. 445 - 449.
98. Jukic, N.; Jukic, B.; Meamber, L.; and Nezlek, G. (2002a), Employing A Multilevel Secure Approach in CRM Systems, Journal of Information Technology Theory and Application, Vol. 4, No. 2, pp. 17 - 31.
99. Jukic, N.; Jukic, B.; Meamber, L.A.; and Nezlek, G. (2002b), Implementing Polyinstantiation as A Strategy for Electronic Commerce Customer Relationship Management, International Journal of Electronic Commerce, Vol. 7, No. 2, pp. 9 - 30.
100. Kanter, R.M. (1992), Think Like the Customer: The Global Business Logic, Harvard Business Review, Vol. 70, No. 4, pp. 9 - 10.
101. Kapoulas, A.; Murphy, W.; and Ellis, N. (2002), Say Hello, Wave Goodbye: Missed Opportunities for Electronic Relationship Marketing Within the Financial Services Sector, International Journal of Bank Marketing, Vol. 20, No. 7, pp. 302 - 312.
102. Karimi, J.; Somers, T.M.; and Gupta, Y.P. (2001), Impact of Information Technology Management Practices on Customer Service, Journal of Management Information Systems, Vol. 17, No. 4, pp. 125 - 158.
103. Kelly, S. (2000), Analytical CRM: The Fusion of Data and Intelligence, Interactive Marketing, Vol. 1, No. 3, pp. 262 - 267.
104. Kendrick, T.; and Fletcher, K. (2002), Addressing Customer Myopia: Strategic Interactive Marketing Planning in A Volatile Business Environment, Journal of Database Marketing, Vol. 9, No. 3, pp. 207 - 218.
105. Khalifa, M.; and Liu, V. (2002), Satisfaction With Internet-Based Services: The Role of Expectations and Desires, International Journal of Electronic Commerce, Vol. 7, No. 2, pp. 31 - 49.
106. Kimery, K.M.; and McCord, M. (2002), Third-Party Assurances: Mapping the Road to Trust in ERetailing, Journal of Information Technology Theory and Application, Vol. 4, No. 2, pp. 63 - 82.
107. Koh, H.C.; and Chan, K.L.G. (2002), Data Mining and Customer Relationship Marketing in the Banking Industry, Singapore Management Review, Vol. 24, No. 2, pp. 1 - 26.
108. Kohli, R.; Piontek, F.; Ellington, T.; VanOsdol, T.; Shepard, M.; and Brazel, G. (2001), Managing Customer Relationships Through E-Business Decision Support Applications: A Case of Hospital- Physician Collaboration, Decision Support Systems, Vol. 32, No. 2, pp. 171 - 187.
109. Koslowsky, S. (2001), The Marketing Cube, Journal of Financial Services Marketing, Vol. 6, No. 2, pp. 164 - 171.
110. Kotorov, R.P. (2002), Ubiquitous Organization: Organizational Design for E-CRM, Business ProcessManagement Journal, Vol. 8, No. 3, pp. 218 - 232.
111. Kracklauer, A.; Passenheim, O.; and Seifert, D. (2001), Mutual Customer Approach: How Industry and Trade Are Executing Collaborative Customer Relationship Management, International Journal of Retail &Distribution Management, Vol. 29, Nos 11/12, pp. 515 - 519.
112. Lassar, W.M.; Manolis, C.; and Lassar, S.S. (2005), The Relationship Between Consumer Innovativeness, Personal Characteristics, and Online Banking Adoption, International Journal of Bank Marketing, Vol. 23, No. 2, pp. 176 - 199.
113. Lejeune, M.A.P.M. (2001), Measuring the Impact of Data Mining on Churn Management, Internet Research, Vol. 11, No. 5, pp. 375 - 387.
114. Lemon, K.N.; White, T.B.; and Winer, R.S. (2002), Dynamic Customer Relationship Management: Incorporating Future Considerations Into the Service Retention Decision, Journal of Marketing, Vol. 66, No. 1, pp. 1 - 14.
115. Lerer, L. (2002a), E-Business in the Pharmaceutical Industry, International Journal of Medical Marketing, Vol. 3, No. 1, pp. 69 - 73.
116. Lerer, L. (2002b), Pharmaceutical Marketing Segmentation in the Age of the Internet, International Journal of Medical Marketing, Vol. 2, No. 2, pp. 159 - 166.
117. Leventhal, B. (2000), Are Market Research and Customer Research the Same Thing? The Implications for Linking to External Data, Interactive Marketing, Vol. 1, No. 3, pp. 266 - 276.
118. Liao, Z.; and Cheung, M.T. (2002), Internet-Based E-Banking and Consumer Attitudes: An Empirical Study, Information & Management, Vol. 39, Issue 4, pp. 283 - 295.
119. LiBrizzi, L. (2001), Targeting Customers Based on Economic Worth, Journal of Financial Services Marketing, Vol. 5, No. 4, pp. 337 - 342.
120. Li, J.; Fok, W.; Fok, L.; and Hartman, S. (2002a), The Impact of QM Maturity Upon the Extent and Effectiveness of Customer Relationship Management Systems, Supply Chain Management: An International Journal, Vol. 7, Nos 3/4, pp. 212 - 224.
121. Li, J.; Fok, W.; Hartman, S.J.; and Fok, L. (2002b), Quality Management Maturity and Customer Relationship Management Systems: An Exploratory Study, International Journal of Management, Vol. 19, No. 1, pp. 79 - 88.
122. Ling, R.; and Yen, D.C. (2001), Customer Relationship Management: An Analysis Framework and Implementation Strategies, Journal of Computer Information Systems, Vol. 41, No. 3, pp. 82 - 97.
123. Lockett, A.; and Litter, D. (1997), The Adoption of Direct Banking Services, Journal of Marketing Management, Vol. 13, No. 8, pp. 791 - 811.
124. Massey, A.P.; Montoya-Weiss, M.M.; and Holcom, K. (2001), Re-Engineering the Customer Relationship: Leveraging Knowledge Assets at IBM, Decision Support Systems, Vol. 32, No. 2, pp. 155 - 170.
125. Mattila, M.; Karjaluoto, H.; and Pento, T. (2003), Internet Banking Adoption Among Mature Customers: Early Majority or Laggards?, Journal of Services Marketing, Vol. 17, No. 5, pp. 514 - 528.
126. McGowan, P.; Durkin, M.G.; Allen, L.; Dougan, C.; and Nixon, S. (2001), Developing Competencies in the Entrepreneurial Small Firm for Use of the Internet in the Management of Customer Relationships, Journal of European Industrial Training, Vol. 25, Nos 2-4, pp. 126 - 136.
127. McKim, B. (2002), The Differences Between CRM and Database Marketing, Journal of Database Marketing, Vol. 9, No. 4, pp. 371 - 375.
128. McKim, B.; and Hughes, A.M. (2001), How to Measure Customer Relationship Management Success, Journal of Database Marketing, Vol. 8, No. 3, pp. 224 - 231.
129. McNab, D.B. (2002), Management Accounting and CRM in Financial Services, The Journal of Bank Cost & Management Accounting, Vol. 15, No. 1, pp. 11 - 15.
130. Meltzer, M. (2001), A Customer Relationship Management Approach: Integrating the Call Centre with Customer Information, Journal of Database Marketing, Vol. 8, No. 3, pp. 232 - 243.
131. Mena, J.; and Pettit, R. (2001), Web-Mining Case Study: An Internet Radio Website, Interactive Marketing, Vol. 3, No. 1, pp. 46 - 52.
132. Min, H.; Min, H.; and Emam, A. (2002), A Data Mining Approach To Developing the Profiles of Hotel Customers, International Journal of Contemporary Hospitality Management, Vol. 14, No. 6, pp. 274 - 285.
133. Mirani, R.; Moore, D.; and Weber, J.A. (2001), Emerging Technologies for Enhancing Supplier-Reseller Partnerships, Industrial Marketing Management, Vol. 30, No. 2, pp. 101 - 114.
134. Moe, W.W.; and Fader, P.S. (2001), Uncovering Patterns in Cybershopping, California Management Review, Vol. 43, No. 4, pp. 106 - 117.
135. Mols, N.P.; Bukh, P.N.D.; and Nielsen, J.F. (1999), Distribution Channel Strategies in Danish Retail Banking, International Journal of Retail & Distribution Management, Vol. 27, No. 1, pp. 37 - 47.
136. Morik, K.; Huppe, C.; and Unterstein, K. (2002), End-User Access to Multiple Sources: Incorporating Knowledge Discovery Into Knowledge Management, International Journal of Intelligent Systems in Accounting, Finance and Management, Vol. 11, No. 4, pp. 201 - 214.
137. Moutinho, L.; and Smith, A. (2000), Modelling Bank Customers' Satisfaction Through Mediation of Attitudes Towards Human and Automated Banking, International Journal of Retail & Distribution Management, Vol. 18, No. 3, pp. 124 - 134.
138. MSC (2006a), The MSC Flagship Applications, Available at: http://www.msc.com.my/msc/flagships.asp?link=ebiz#ebiz.
139. MSC (2006b), MSC, 2006 Flagship Applications Progress Status, Available at:
140. http://www.msc.com.my/updates/flagships.asp.
141. Nairn, A. (2002), CRM: Helpful or Full of Hype?, Journal of Database Marketing, Vol. 9, No. 4, pp. 376 -382.
142. Narayanan, V.G.; and Brem, L. (2002), Case Study: Customer Profitability and Customer Relationship Management at RBC Financial Group, Journal of Interactive Marketing, Vol. 16, No. 3, pp. 76 - 98.
143. Nemati, H.R.; and Barko, C.D. (2002), Enhancing Enterprise Decisions Through Organizational Data Missing, Journal of Computer Information Systems, Vol. 42, No. 4, pp. 21 - 28.
144. Ngai, E.W.T. (2005), Customer Relationship Management Research (1992-2002): An Academic Literature Review and Classification, Marketing Intelligence & Planning, Vol. 23, No. 6, pp. 582 - 605.
145. Nielsen, J.F. (2002), Internet Technology and Customer Linking in Nordic Banking, International Journal of Service Industry Management, Vol. 13, No. 5, pp. 475 - 495.
146. Nitsche, M. (2002a), Developing A Truly Customer-Centric CRM System: Part One - Strategic and Architectural Implementation, Interactive Marketing, Vol. 3, No. 3, pp. 207 - 217.
147. Nitsche, M. (2002b), Developing A Truly Customer-Centric CRM System: Part Two - Analysis and Campaign Management, Interactive Marketing, Vol. 3, No. 4, pp. 350 - 366.
148. Nsouli, S.M.; and Schaechter, A. (2002), Challenges of the “E-Banking Revolution”, Finance &Development, Vol. 39, No. 3, September.
149. O'Connell, M. (2000), The Future of Banking, California Job Journal, Available at:
150. http://www.jobjournal.com/article_full_text.asp?artid=143.
151. O'Halloran, J.P.; and Wagner, T.R. (2001), The Next Frontier, Journal of Business Strategy, Vol. 22, No. 3, pp. 28 - 33.
152. Ojasalo, J. (2001), Customer Expertise: A Challenge in Managing Customer Relationships in Professional Business-to-Business Services, Services Marketing Quarterly, Vol. 22, No. 2, pp. 1 - 15.
153. Ojasalo, J. (2002), Key Account Management in Information-Intensive Services, Journal of Retailing and Consumer Services, Vol. 9, No. 5, pp. 269 - 276.
154. Olsen, M.; Keevers, M.L.; Paul, J.; and Covington, S. (2001), E-Relationship Development Strategy for the NonProfit Fundraising Professional, International Journal of Nonprofit and Voluntary Sector Marketing, Vol. 6, No. 4, pp. 364 - 373.
155. O'Malley, J.F. (2000), Capturing and Retaining More Referral Sources, Marketing Health Services, Vol. 20, No. 1, pp. 14 - 19.
156. O'Malley, L.; and Mitussis, D. (2002), Relationships and Technology: Strategic Implications, Journal of Strategic Marketing, Vol. 10, No. 3, pp. 225 - 238.
157. Paas, L.; and Kuijlen, T. (2001), Towards A General Definition of Customer Relationship Management, Journal of Database Marketing, Vol. 9, No. 1, pp. 51 - 60.
158. Palmer, R.; and Brookes, R. (2002), Incremental Innovation: A Case Study Analysis, Journal of Database Marketing, Vol. 10, No. 1, pp. 71 - 83.
159. Panda, T.K. (2002), Creating Customer Life Time Value Through Effective CRM in Financial Services Industry, Journal of Services Research, Vol. 2, No. 2, pp. 157 - 171.
160. Pang, L.M.G.; and Norris, R. (2002), Applying Customer Relationship Management (CRM) to Government, The Journal of Government Financial Management, Vol. 51, No. 1, pp. 40 - 44.
161. Parvatiyar, A.; and Sheth, J.N. (2001), Customer Relationship Management: Emerging Practice, Process, and Discipline, Journal of Economic & Social Research, Vol. 3, No. 2, pp. 1 - 34.
162. Peppard, J. (2000), Customer Relationship Management (CRM) in Financial Services, European Management Journal, Vol. 18, No. 3, pp. 312 - 327.
163. Peppers, D.; Rogers, M.; and Dorf, B. (1999), Is Your Company Ready for One-to-One Marketing?,Harvard Business Review, Vol. 77, No. 1, pp. 151 - 160.
164. Plakoyiannaki, E.; and Tzokas, N. (2002), Customer Relationship Management: A Capabilities Portfolio Perspective, Journal of Database Marketing, Vol. 9, No. 3, pp. 228 - 237.
165. Pompa, N.; Berry, J.; Reid, J.; and Webber, R. (2000), Adopting Share of Wallet as A Basis for Communications and Customer Relationship Management, Interactive Marketing, Vol. 2, No. 1, pp. 29 - 40.
166. Pontes, M.C.F.; and Kelly, C.O.B. (2000), The Identification of Inbound Call Center Agents' Competencies That Are Related to Callers' Repurchase Intentions, Journal of Interactive Marketing, Vol. 14, No. 3, pp. 41 - 49.
167. Power, C. (2000), Finnish Bank Brings Digital Certificates to Mobile Phones, American Banker, Vol. 165, No. 10, p. 20.
168. Raeside, R.; and Walker, J. (2001), Knowledge: The Key ToOrganisational Survival, The TQM Magazine, Vol. 13, No. 3, pp. 156 - 160.
169. Raihan, A (2001), The State of E-Finance in Developing Countries: Bangladesh Perspective, A Paper presented in Expert Group Meeting on "Improving Competitiveness of SMEs in Developing Countries:Role of Finance, including E-finance to Enhance Enterprise Development", 22-24 October, Geneva,
170. Available at: http://unpan1.un.org/intradoc/groups/public/documents/APCITY/UNPAN007624.pdf.
171. Rao, S.S. (2000), Enterprise Resource Planning: Business Needs and Technologies, Industrial Management & Data Systems, Vol. 100, No. 2, pp. 81 - 88.
172. Reinartz, W.; and Kumar, V. (2002), The Mismanagement of Customer Loyalty, Harvard Business Review, Vol. 80, No. 7, pp. 86 - 94.
173. Rheault, D.; and Sheridan, S. (2002), Reconstruct Your Business Around Customers, Journal of Business Strategy, Vol. 23, No. 2, pp. 38 - 42.
174. Rigby, D.K.; Reichheld, F.F.; and Schefter, P. (2002), Avoid the Four Perils of CRM, Harvard Business Review, Vol. 80, No. 2, pp. 101 - 107.
175. Robinson, S.; and Chappelear, B. (2002), Decision Support by Design: Managing the Information in Your Legacy Systems, The Journal of Bank Cost & Management Accounting, Vol. 15, No. 1, pp. 17 - 26.
176. Robinson, J.L.; Marshall, G.W.; Moncriof, W.C.; and Lassk, F.G. (2002), Toward A Shortened Measure of Adaptive Selling, Journal of Personal Selling & Sales Management, Vol. 22, No. 2, pp. 111 - 119.
177. Romano, N.C. Jr (2002), Customer Relationship Management for The Web-Access Challenged: Inaccessibility of Fortune 250 Business Web Sites, International Journal of Electronic Commerce, Vol. 7, No. 2, pp. 81 - 117.
178. Romano, N. Jr; and Fjermestad, J. (2001), Electronic Commerce Customer Relationship Management: An Assessment of Research, International Journal of Electronic Commerce, Vol. 6, No. 2, pp. 61 - 113.
179. Roscoe, D. (2001), The Customer Knowledge Journey, Journal of Financial Services Marketing, Vol. 5, No. 4, pp. 314 - 318.
180. Rotchanakitumnuai, S.; and Speece, M. (2003), Barriers to Internet Banking Adoption: A Qualitative Study Among Corporate Customers in Thailand, International Journal of Bank Marketing, Vol. 21, Nos. 6/7, pp. 312 - 323.
181. Rowley, J. (2002a), Eight Questions for Customer Knowledge Management in E-Business, Journal of Knowledge Management, Vol. 6, No. 5, pp. 500 - 511.
182. Rowley, J.E. (2002b), Reflections on Customer Knowledge Management in E-Business, Qualitative Market Research, Vol. 5, No. 4, pp. 268 - 280.
183. Ryals, L. (2002), Measuring Risk and Returns in the Customer Portfolio, Journal of Database Marketing, Vol. 9, No. 3, pp. 219 - 227.
184. Ryals, L.; and Knox, S. (2001), Cross-Functional Issues in the Implementation of Relationship Marketing Through Customer Relationship Management, European Management Journal, Vol. 19, No. 5, pp. 534 -542.
185. Ryals, L.; and Payne, A. (2001), Customer Relationship Management in Financial Services: Towards Information-Enabled Relationship Marketing, Journal of Strategic Marketing, Vol. 9, No. 1, pp. 3 - 27.
186. Ryder, I. (2000), Futurology of Brand Management, Journal of Brand Management, Vol. 8, No. 1, pp. 13- 23.
187. Rygielski, C.; Wang, J.C.; and Yen, D.C. (2002a), Data Mining Techniques for Customer Relationship Management, Technology in Society, Vol. 24, No. 4, pp. 483 - 502.
188. Rygielski, C.; Yen, D.C.; and Wang, J.C. (2002b), Customer Relationship Management in the NetworkEconomy, International Journal of Services Technology and Management, Vol. 3, No. 3, pp. 297 - 310.
189. Sathye, M. (1999), Adoption of Internet Banking by Australian Consumers: An Empirical Investigation, International Journal of Bank Marketing, Vol. 17, No. 7, pp. 324 - 334.
190. Sawhney, M. (2002), Don't Just Relate - Collaborate, Sloan Management Review, Vol. 43, No. 3, p. 96. Schoenbachler, D.D.; and Gordon, G.L. (2002), Trust and Customer Willingness to Provide Information in Database-Driven Relationship Marketing, Journal of Interactive Marketing, Vol. 16, No. 3, pp. 2 - 16.
191. Seddon, J. (2000), From 'Push' to 'Pull' - Changing the Paradigm for Customer Relationship Management, Interactive Marketing, Vol. 2, No. 1, pp. 19 - 28.
192. See, A. (2003), Online Banking in Malaysia - The Security Element, The Star, 25 March, Available at:
193. http://star-techcentral.com/exclusives/ecopnet/story.asp? file=/2003/3/25/OnlineBankinginMalaysiaTheSecurityElement&sec=exclusives.
194. Shaw, M.J.; Subramaniam, C.; Tan, G.W.; and Welge, M.E. (2001), Knowledge Management and Data Mining for Marketing, Decision Support Systems, Vol. 31, No. 1, pp. 127 - 137.
195. Seybold, P.B. (2001), Get Inside the Lives of Your Customers, Harvard Business Review, Vol. 79, No. 5, pp. 80 - 89.
196. Shaw, R. (1999), Measuring, Managing and Improving the Performance of CRM, Interactive Marketing, Vol. 1, No. 1, pp. 44 - 58.
197. Sheth, J.N.; and Sisodia, R.S. (2001), High Performance Marketing, Marketing Management, Vol. 10, No. 3, pp. 18 - 23.
198. Shoemaker, M.E. (2001), A Framework for Examining IT-Enabled Market Relationships, Journal of Personal Selling & Sales Management, Vol. 21, No. 2, pp. 177 - 185.
199. Silverman, B.G.; Bachann, M.; and Al-Akharas, K. (2001), Implications of Buyer Decision Theory for Design of E-Commerce Websites, International Journal of Human Computer Studies, Vol. 55, No. 5, pp. 815 - 844.
200. Singh, S.; Chhatwal, S.S.; Yahyabhoy, T.M.; and Yeo, C.H. (2002), Dynamics of Innovation in E-Banking, ECIS, June 6 - 8, Gdansk, Poland.
201. Sinha, M.N. (2001), Saving the Internet Survivors, Quality Progress, Vol. 34, No. 6, pp. 27 - 30.
202. Slywotzky, A.J.; and Shapiro, B.P. (1993), Leveraging to Beat the Odds: The New Marketing Mind-Set, Harvard Business Review, Vol. 71, No. 5, pp. 97 - 107.
203. Soper, S. (2002), The Evolution of Segmentation Methods in Financial Services: Where Next?, Journal of Financial Services Marketing, Vol. 7, No. 1, pp. 67 - 74.
204. Speier, C.; and Venkatesh, V. (2002), The Hidden Minefields in the Adoption of Sales Force Automation Technologies, Journal of Marketing, Vol. 66, No. 3, pp. 98 - 112.
205. Srivastava, R.K.; Shervani, T.A.; and Fahey, L. (1999), Marketing, Business Processes, and Shareholder Value: An Organizationally Embedded View of Marketing Activities and the Discipline of Marketing, Journal of Marketing, Vol. 63 - 74, pp. 168 - 179.
206. Starkey, M.W.; Williams, D.; and Stone, M. (2002), The State of Customer Management Performance in Malaysia, Marketing Intelligence & Planning, Vol. 20, No. 6, pp. 378 - 385.
207. Stone, M.; Woodcock, N.; and Wilson, M. (1996), Managing the Change from Marketing Planning to Customer Relationship Management, Long Range Planning, Vol. 29, No. 5, pp. 675 - 683.
208. Sutherland, K. (2002), Profitability, Customer Relationship Management and Convergence in the Financial Investment Arena: Where Are We Really?, The Journal of Bank Cost & Management Accounting, Vol. 15, No. 1, pp. 3 - 9.
209. Tan, X.; Yen, D.C.; and Fang, X. (2002), Internet Integrated Customer Relationship Management: A Key Success Factor for Companies in the E-Commerce Arena, Journal of Computer Information Systems, Vol. 42, No. 3, pp. 77 - 86.
210. Taylor, S.A.; and Hunter, G.L. (2002), The Impact of Loyalty With E-CRM Software and E-Services, International Journal of Service Industry Management, Vol. 13, No. 5, pp. 452 - 474.
211. Tih, S.; and Ennis, S. (2006), Cross-Industry Analysis of Consumer Assessments of Internet Retailers' Service Performances, International Journal of Retail & Distribution Management, Vol. 34, No. 4/5, pp. 290 - 307.
212. Tollin, K. (2002), Customization as A Business Strategy – A Barrier to Customer Integration in Product Development?, Total Quality Management, Vol. 13, No. 4, pp. 427 - 439.
213. Torcy, G.D. (2002), A New Wave in Creating Customer Satisfaction, Journal of Database Marketing, Vol. 9, No. 4, pp. 366 - 370.
214. Ultsch, A. (2002), Emergent Self-Organising Feature Maps Used for Prediction and Prevention of Churnin Mobile Phone Markets, Journal of Targeting, Measurement and Analysis for Marketing, Vol. 10, No.4, pp. 314 - 324.
215. Verhoef, P.C.; and Donkers, B. (2001), Predicting Customer Potential Value An Application in the Insurance Industry, Decision Support Systems, Vol. 32, No. 2, pp. 189 - 199.
216. Verhoef, P.C.; Franses, P.H.; and Hoekstra, J.C. (2001), The Impact of Satisfaction and Payment Equity on Cross-Buying: A Dynamic Model for A Multi-Service Provider, Journal of Retailing, Vol. 77, No. 3, pp. 359 - 378.
217. Verhoef, P.C.; and Langerak, F. (2002), Eleven Misconceptions About Customer Relationship Management, Business Strategy Review, Vol. 13, No. 4, pp. 70 - 76.
218. Wan, W.W.N.; Luk, C.L.; and Chow, C.W.C. (2005), Customers' Adoption of Banking Channels in Hong Kong, International Journal of Bank Marketing, Vol. 23, No. 3, pp. 255 - 272.
219. Wang, Y.; Wang, Y.; Lin, H.; and Tang, T. (2003), Determinants of User Acceptance of Internet Banking: An Empirical Study, International Journal of Service Industry Management, Vol. 14, No. 5, pp. 501 - 519.
220. Watkins, H.S.; and Liu, R. (1996), Collectivism, Individualism and In-Group Membership: Implications for Consumer Complaining Behaviors in Multicultural Contexts, Journal of International Consumer Marketing, Vol. 8, Nos 3/4, pp. 69 - 96.
221. Weitzman, J. (2000), Cendant Unit Helps Banks Offer Internet Access, American Banker, Vol. 165, No. 2, p. 11.
222. Wells, J.D.; and Hess, T.J. (2002), Understanding Decision-Making In Data Warehousing and Related Decision Support Systems: An Explanatory Study of A Customer Relationship Management Application, Information Resources Management Journal, Vol. 15, No. 4, pp. 16 - 32.
223. West, J. (2001), Customer Relationship Management and You, IIE Solutions, Vol. 33, No. 4, pp. 34 - 37.
224. Widmier, S.M. Jr; D, W.J.; and McCabe, D.B. (2002), Infusing Technology Into Personal Selling, Journal of Personal Selling & Sales Management, Vol. 22, No. 3, pp. 189 - 198.
225. Wikipedia (2006), Available at: http://en.wikipedia.org/wiki/Web_application.
226. Wilson, H.; Daniel, E.; and McDonald, M. (2002), Factors for Success in Customer Relationship Management (CRM) Systems, Journal of Marketing Management, Vol. 18, No. 1, pp. 193 - 219.
227. Wind, Y.J. (2001), The Challenge of Customerization in Financial Services, Communications of the ACM, Vol. 44, No. 6, pp. 39 - 44.
228. Winer, R.S. (2001), A Framework for Customer Relationship Management, California Management Review, Vol. 43, No. 4, pp. 89 - 105.
229. Wong, Y.H. (1998), Key to Key Account Management: Relationship (Guanxi) Model, International Marketing Review, Vol. 15, No. 3, pp. 215 - 231.
230. Woodburn, D. (2002), Customer Relationship Management: Hard Lessons Learned in B2B Pose Tough Questions for B2C, Interactive Marketing, Vol. 4 No. 1, pp. 19 - 32.
231. Woodcock, N. (2000), Does How Customers Are Managed Impact on Business Performance?,Interactive Marketing, Vol. 1, No. 4, pp. 375 - 389.
232. Woodcock, N.; and Starkey, M. (2001), I Wouldn't Start From Here: Finding A Way in CRM Projects, Journal of Database Marketing, Vol. 9, No. 1, pp. 61 - 74.
233. Wright, L.T.; Stone, M.; and Abbott, J. (2002), The CRM Imperative - Practice Vs Theory in the Telecommunications Industry, Journal of Database Marketing, Vol. 9, No. 4, pp. 339 - 349.
234. Xcom AG (2006), Future of EBanking, Strategies and Concepts, Xcom AG, Available at:
235. http://www.xcom.de/unit/self/engl/XCOM%20ITUG%202006-ths.ppt.
236. Xu, Y.; Yen, D.C.; Lin, B.; and Chou, D.C. (2002), Adopting Customer Relationship Management Technology, Industrial Management & Data Systems, Vol. 102, Nos 8/9, pp. 442 - 452.
237. Yan, G.; and Paradi, J.C. (1998), Internet - The Future Delivery Channel for Banking Services?, Thirty- First Annual Hawaii International Conference on System Sciences, Vol. 4.
238. Yang, Y.J. (1997), The Security of Electronic Banking, 20th NISSC Proceedings, Baltimore, Maryland, October, Available at: http://csrc.nist.gov/nissc/1997/proceedings/041.pdf.
239. Yelkur, R. (2000), Customer Satisfaction and the Services Marketing Mix, Services Marketing Quarterly, Vol. 21, No. 1, pp. 105 - 115.
240. Yuan, S.T.; and Chang, W.L. (2001), Mixed-Initiative Synthesized Learning Approach for Web-Based CRM, Expert Systems with Applications, Vol. 20, No. 2, pp. 187 - 200.
241. Yuan, S.T.; and Chen, H.S. (2002), A Study on VRM-Awareness Enterprise Websites, Expert Systems with Applications, Vol. 22, No. 2, pp. 147 - 162.
242. Yu, L. (2001), Successful Customer-Relationship Management, Sloan Management Review, Vol. 42,