SAJMS - South Asian Journal of Management Sciences

Development of Online Banking Services in Pakistan: Applications of SWOT Analysis

The banking sector of Pakistan has been steered up a prominent transformation in its performance and services provided during the period of 2006-2021 parallel to the global shifts in technology. The prevailing wave of internet in the financial industry has driven the banking sector to implement technological advancements to offer its quality services electronically through online banking. So, this study aims to present the development of online banking in Pakistan by trend and growth analysis. Furthermore, the development of a SWOT strategic matrix is a core purpose of this study to enlighten a clear review of online banking which has not been witnessed yet in the literature of online banking in Pakistan. For data collection purposes, secondary reports published by private and public banks have been reviewed. So, this review found the opportunities are more over the threats because online banking services are at the growth stage as indicated in trend analysis during the period 2006-2021 of this review. So, this study has an additive value in the literature on online banking services to display more prominent, authentic, and updated facts and figures in terms of Strengths, Weaknesses, Opportunities, and Threats faced by the online banking industry in Pakistan as a developing country.

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