AN EMPIRICAL STUDY ON TECHNOLOGY AND BANKING SERVICES IN INDIA

Abstract

The banking services in near future (2030) will look very different from what it look like today. Some
will be evolutionary and some will be radically different from the conventional practices such as creating
cashless economy etc., While predictions are always fraught with uncertainty, we are confident that the
landscape will be far more competitive, efficient and innovative in delivering “independent experience” to
the customers, which are not feasible today. This will be possible only because of the banking industry
being supported by the technological innovations.
The overall objective of the study is to identify the technological factors influencing the growth of
banking services on customer satisfaction. This research also identifies the factors affecting technology
development in terms of convenience, compliance, affordability and competence in the usage of digital
banking services. Descriptive study is applied with a sample size of 150. Data was collected using online
questionnaire method, disseminated through Google forms. Analysis was done through SPSS software.
The study recommends that banks need to invest more on robust reliable systems to reduce incidents of
failed transactions and hazel free ATM transactions. The banking sectors should consider introducing
Smartphone applications for Mobile banking and Point Of Sale terminals; to improvise digital banking
facilities. Also the banking sector should carry out customer satisfaction surveys to lean customers
behavior on adapting to technology. The paper discusses the relevant few review of literature, research
methodology of this study, research analysis, research finding and conclusion of this study.