Banking and Information Technology (IT) can hardly be separated today. Banks are in the forefront of using cutting-edge technology. The fundamentals of banking have remained the same, but the perceived value from banking services has been changing due to the pace at which technology is changing in terms of the means and tools it provides us with. On the one side, it is helping banks in meeting customer service expectations, and on the other side, they are presented with the challenge posed by hackers and cyber criminals. This paper is an attempt to study what keeps the e-banking customer loyal in such a banking environment. Through exploratory research, the authors have synthesized various factors from literature that may influence the e-loyalty of banking customers. The data was collected through a validated questionnaire, administered to a convenient sample of 245 banking customers in Rajasthan. Exploratory factor analysis was performed to analyze the data. The results suggest that website quality, e-trust, e-satisfaction, corporate image, product information and perceived security significantly affect the e-loyalty of online banking customers. The originality of this paper lies in its exploratory nature, as most of the studies related to online banking have focused only on a few of these factors.

e-Banking is a result of the growing expectations of bank customers. The financial sector has been a large user of Information Technology (IT). Banks, in particular, have been increasingly using IT in their day-to-day operations. Over the years, banks have extended the reach of Core Banking Solutions (CBS) to more branches so as to facilitate anywhere banking, introduced technology-based products and services such as mobile banking, and expanded the Internet banking facilities. On the one side, technology is helping banks in meeting customer service expectations, and on the other side, they are presented with the many challenges, such as rapid changes in technology, complexities, high costs, security and data privacy issues, new laws and regulations, and inadequacy of trained manpower. In such a scenario, it is not easy to retain the banking customers, especially those who use online channels more than offline. Unlike traditional banking customers, e-banking customers typically do not interact with bank employees. Instead, they interact with a website through a user interface that enables them to initiate the desired transactions themselves. Thus, customers are more likely to visit and transact on websites that exhibit highly desirable qualities.

Before moving ahead, it is necessary to understand what e-banking means? Electronic banking (e-banking), sometimes also known as Internet banking, is defined as the automated delivery of new and traditional banking products and services directly to customers through electronic and interactive communication channels (Daniel, 1999; and Sathye, 1999).