An Emerging Banking Technology and Its Adoption by Indian Consumers

Abstract

Information technology is considered as the key driver for the changes taking place around the world and in the future development of financial services and banking is one of the most important among them. With the rapid growth of the internet most banks are attempting to attract and retain customers in this highly competitive market through providing various e-banking services. Electronic banking service is becoming increasingly significant in providing customers with a convenient and interactive service. The objective of this study is to explore factors such as reduced cost of transaction processing, improved payment efficiency, convenience, ease usage, enhanced banker customer relationship, less transaction time, awareness and access to internet facility that shape the customer decision in adoption of e-banking service and to check the customers level of satisfaction with respect to electronic banking services provided by Indian banks. The customers using banking services with the different e-channels are more satisfied but the lack of awareness and security is a major issue in the spread of e-banking services. The paper also aims to examine the current status of banking e-services, identity its strengths and weaknesses, and use the findings in formulating future recommendations to make a contribution to knowledge in the chosen area. The paper concludes with suggestion to make e-banking services more effective in the future.

Keywords: Attitude, Business, Consumers, Internet, Web advertising.

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