DOI: 10.18413/2409-1634-2021-7-4-0-10

Development of Internet banking as an innovative distribution channel in Syria

The banking industry is one of the economic sectors most affected by technological changes to the extent that these developments are instantaneously reflected in the banking industry. Demand for web banking products has increased as a result of increased understanding of customer-centric services, lower accessibility costs, a competitive market structure and consumers' desire to offer banking products quickly, efficiently and productively.

The competitive advantage offered by electronic banking services to banks is shown in terms of location, cost and time. At the moment, the focus is on the latest technologies to achieve a competitive advantage. In this context, Internet banking is the most important component of electronic banking services. Besides its great diversity, innovative banking services have been in great demand for years. This study investigates the development of the Internet banking and its tools used in the Syrian banking market. This study examines the effectiveness of using innovative services and analyzing their structure in Syria. The study concluded that Internet banking is developing significantly through the increase in the number of Internet banking users and the number of these services. On the other hand, by comparing with other economies, we find that the degree of development of the banking Internet has not yet reached the required degree. When considering this position for the spread of electronic services, it is more than important to take some precautions. Overcoming the contradictions between the web infrastructure and security of the banking industry, diversifying banking products, and strengthening the understanding of the trend of Internet banking usage will be increasingly effective in accelerating the development of Internet banking.


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