Journal of Internet Banking and Commerce Prospects and Challenges of Technological Innovation in Banking Industry of North East India (original) (raw)

Abstract

The objective of this paper is to study the prospects and challenges of technological innovations of banks like ATMS, credits cards, debit cards, internet banking, mobile-banking, ECS, RTGS and Mobile Wallet in North East India. The increasing internet penetration and mobile subscribers in rural as well as urban areas have created a huge opportunity for banking institutions to look beyond traditional form of brick and mortar branch banking. The North East India comprising of 8 states is an important jurisdiction for study agreeing the fact that the region has been neglected and cut from the rest of mainland India due to political, geographical, cultural and socio economic differences. This paper aims to broaden studies related to technological innovation within banking industry in the North East India. Indepth interview was conducted with 50 bank respondents regarding issues, prospects and challenges of technological innovation within banks. Views received in line with research objectives were analyzed and group together through simple frequency table and percentage. The results showed that most customers availing technological mediums for banking purpose are young customers and ATM is the most basic form of technological medium which consumers are highly aware and using it, against comparison with other technological mediums such as credit cards, PC banking, mobile banking, internet banking, NEFT, RTGS and Mobile Wallets.

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