Document Type

Master's Thesis

Degree Name

Master of Science (M.S.)


Computing and Design


The Internet has become a necessity for banks that want to move forward and follow the developments in information and communications technology. Moreover, the Internet has changed the way that consumers and businesses conduct their banking transactions today. According to analysts, Internet banking has revolutionized the whole banking industry; it is said to have provided banks with new and cost-effective means of retaining and increasing their customer base. It is believed that the U.S. is three to five years ahead of Europe as far as Internet banking is concerned. When it comes to Greece, as soon as Greek banks realized the upcoming developments, they started transforming their services in order to become more up-to-date and more competitive. What's more, Greek banks have developed websites, which demonstrate many similarities when compared to the American banks websites, and they offer a wide array of services including mobile banking. Also, both the U.S. and the Greek banks follow the global trends of the online financial services towards consolidation and integration. However, the adoption rate from the Greek consumers is slow for a number of reasons, some of the most important being their mistrust towards the use of Internet and the unfamiliarity of the majority of people with the new technologies. This paper, "Internet Banking History and Strategies: A case study of U.S. and Greek banks", describes the history, the current status as well as the projections and trends of Internet banking for both the United States and Greece. The case of successful U.S. and Greek banks are described and their websites are analyzed in an attempt to identify tactics they employ and see which, if any, Internet banking strategies Greek banks have not yet implemented. Ultimately, what strategies they can adopt and which they can circumvent in order to become more competitive in the new era of the global economy.


Thesis (M.S.) School of BusinessSchool of Information Technology and Communications Design