Journal of Internet Banking and Commerce Prospects and Challenges of Technological Innovation in Banking Industry of North East India (original) (raw)
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Evolving Technology in Indian Banking Sector: An Overview
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The information and communication technology has a profound impact on the working of banking sector. The success of banking depends upon the customer base and the satisfaction of consumer. Technology enabled banking services like ATM, internet banking and mobile banking not only enlarges customer base but also increases satisfaction of the consumer. Technology is important to build a strong banking system and a strong banking system is the need for inclusive growth. Against this background this paper discusses historical development of Indian banking and the progress of technology in Indian banking with emphasis on Automated teller Machine, internet banking and mobile banking. Key words: Evolving, Technology, Indian banking, ATM, Internet banking, Mobile banking
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Customer Perception and Emergence of Electronic Banking: A Case Study on Kolkata
transformation. Competition is compelling the banks to make radical internal and external changes in their dayto-day functioning. Information technology is a crucial parameter for transformation in structure, work-culture, functioning, and business re-engineering. E-banking services are replacing traditional services and creating a new scale in transformation. In the initial stage, e-channels were introduced in metropolitan cities and urban areas, but recently some banks have started focusing on rural and semi-urban areas. The different e-channels such as ATMs, credit and debit cards, tele-banking, mobilebanking, online banking and smart cards are changing the face of the Indian banks. New private sector banks and foreign banks are attracting customers in a big way. The potential customers and big companies are shifting their accounts from traditional banks (not fully computerised) to e-banks (fully computerised and provide different e-channels). New private sector banks are taking the lead in capturing rural and semi-urban sector. If traditional banks, mostly public sector banks, do not transform their business by introducing IT, their survival will become difficult. Therefore, e-banking services are a potent factor for transformation in this e-age.
Impact of Technology on Banking Sector in India
In the world of banking and finance nothing stands still. The biggest change of all is in the, scope of the business of banking. Banking in its traditional from is concerned with the acceptance of deposits from the customers , the lending of surplus of deposited money to suitable customers who wish to borrow and transmission of funds. Apart from traditional business, banks now days provide a wide range of services to satisfy the financial and non financial needs of all types of customers from the smallest account holder to the largest company and in some cases of non customers. The range of services offered differs from bank to bank depending mainly on the type and size of the bank. Technology has been one of the most important factors for the development of mankind. Information and communication technology is the major advent in the field of technology which is used for access, process, storage and dissemination of information electronically. Banking industry is fast growing with the use of technology in the from of ATMs, on-line banking, Telephone banking, Mobile banking etc., plastic card is one of the banking products that cater to the needs of retail segment has seen its number grow in geometric progression in recent years. This growth has been strongly supported by the development of in the field of technology, without which this could not have been possible of course it will change our lifestyle in coming years.
Journal of Commerce and Accounting Research, 2021
The banking industry has changed drastically over the years and nowadays, a majority of customers prefer to conduct basic financial transactions online, leading to the popularity of digital banking. Digital banking offers more convenience, for both the banks and its customers. While customers can save time and enjoy hassle-free convenient banking transactions that can be conducted on-the-go, banks save money on physical infrastructure and hiring costs by moving a part of their transactions online. Today, most banks with physical branches also offer online banking or Internet banking, which enables customers to access their account information online, and also make transfers or set up automatic payments. A digital bank takes the transition to the Internet a step forward, by eliminating the need for physical branches completely. A recent innovation in the Indian banking industry, the formation of Small Finance Banks (SFBs) and Payment Banks, has started to penetrate the rural areas, to satisfy people who did not have access to financial services earlier. The paper attempts to know how far the rural and urban population are influenced by digital banking, level of customer satisfaction in digital banking, and further progress in digital banking. The study was conducted in Gudivada, Krishna District, Andhra Pradesh, with a sample size of 300, both from urban (150) and rural (150) areas. Through a structured questionnaire data were collected by following a convenient quota sampling. It is statistically proved that people are satisfied with digital banking and expect a separate centre for grievance settlement, thereby improving customer satisfaction and leading to the attainment of a Digital India.
PROGRESS AND MANAGEMENT OF ELECTRONIC BANKING SERVICES IN HIMACHAL PRADESH
Researchgate
PROGRESS AND MANAGEMENT OF E-BANKING SERVICES IN HIMACHAL PRADESH (An abstract of Ph.D., thesis) Technology adoption has changed the face of banking in India. The Indian banking system have realized that if they want to stay in the market, they have to re-engineer their working methodology and adopt modern concept of Electronic Banking. It is also necessary that the Customer accepts the change. Therefore the need has been felt to analyze the factors which drive customer intention to adopt e-banking services. Further, the opinion of bank staff regarding e-banking services, has also been recorded. For the purpose of this study, the data and information has been collected from both primary and secondary sources. Primary data has been collected from 110 bank officials and 540 bank customers separately. There are twelve districts in Himachal Pradesh. Data has been collected from the bank branches of State Bank Group and other nationalized bank from six districts of Himachal Pradesh, which are more representative in nature (Where the number of bank account holders per 1000 population is more). Secondary data of last ten years i.e., from 2005 to 2014 has been collected from website of Reserve Bank of India (Central Bank of India). For analyzing the data various statistical tools i.e., mean, standard deviation, Skewness, Principal component analysis, multiple regression, Cronbach alfa test and chi-square test, has been calculated with the help of SPSS 16.0 version. The results showed that awareness, adoption and frequency of using ATM-Cum-Debit Card, Mobile Banking and Internet banking has been satisfactory. However, customer response regarding Credit card service has not been satisfactory and therefore it is a matter of concern for the banks. Customers are satisfied in respect of various functions of banks regarding ATM-Cum-Debit Card, Credit card, Mobile Banking and Internet banking. But customers are not satisfied with the security measures undertaken by banks in case of all types of e-banking services. Four factors i.e., Security and Trust, Multifarious usefulness, Convenience and Innovativeness, has been explored which put an impact on the intention of bank customer to accept e-banking services. Further, the result exhibited that there has been positive and significant relationship between identified factors and e-banking customer acceptance. Opinion of bankers have also been analyzed and three factors i.e., Operational factors, technological factors and strategic factors have been identified. According to bankers, these three factors influence success of e-banking. It has also been explored that there has been a positive and a significant relationship between these identified factors and success of e-banking.
Studies In Indian Places Names, 2020
Indian economy is moving towards the cash less transaction. The world of cashlessness is possible through digital banking. Subsequently, steps towards demonetization of the economy has resulted in tremendous growth in digital transactions in India .The government has encouraged more transparency in transactions and increased internet facilities towards empowering the country's economy. The government's focus on cashless transactions and globalization has forced to adopt digital banking, but, there still is apprehensions on the users. This study focuses on customer's perceptive on adaptability to these revolutionary changes in banking. A primary survey was conducted using a structured questionnaire on the 100 respondents in Coimbatore, district in Tamil Nadu. The collected data through the questionnaire were analyzed statistically by using chi square technique. The results indicate that the motivations for adopting digital banking have association with income levels of the consumer usage of digital banking. The attitude towards the banks' digital usage was mainly determined by easy usage, time saving, banking services, the reliability and security and safety of transaction accounted 68 percent. The study finally analyses the satisfaction level of the consumers using digital banking services. The main factors which determine customer satisfaction in digital banking are safety, accessibility, risk and safety level, easy reach of service, amenable service. There is a significant relationship among customer experience, satisfaction and loyalty, which is related to banking performance. The study establishes the fact that customers are in the process of getting accustomed with digital banking and that despite all the challenges, their perception towards digitalization is fast changing.