E-Services in Banks: Customer Perceptions

Modern technology has transformed the functioning of business. It has bridged the gaps in terms of the reach and the coverage of systems and enabled better decision-making based on latest and accurate information reduced cost and overall improvement in efficiency. In the Indian context the financial sector especially the banking sector has been a major beneficiary from the inroads made by it. Many new processes products and services offered by Banks and other financial intermediaries are now it centered. E-delivery channels are also a gift of it. Now-a-days many Banks are providing the services of e-channels like ATMs i-banking m-banking tele-banking Debit cards credit cards etc. Most of the initiatives regarding e-channels are aimed at providing better and more efficient customer service by offering multiple options to the customers. These e-channels have positive impact on the profitability of the Bank groups. With the rapid improvements in technology and faster growth of e-channels society has become more sophisticated than in olden days. We have a better educated better informed better organized and better paid workforce than existed in olden days. With the help of e-channels Banking system has become more efficient with efficient e-payment system. This situation has resulted in more competition among Banks and stimulated more technological developments. Customers are getting many benefits from E-Services like balance enquiry request for services issuing instruction etc from anywhere in the world are possible any time Banking convenience acts as a tremendous psychological benefit all the time cash/card free Banking through PC Banking brings down “cost of Banking” to the customer over a period of time cash withdraw from any branch on-line purchase of Goods and Services including on-line payment for the same. With so many benefits from E-Services it is a need of an hour to study the satisfaction level of customers from these E-Services. Banks must recognise the seriousness of the challenge ahead and develop a strategy that will enable them to leverage the opportunities presented by the Internet. But whether they adopt an offensive or a defensive posture they must constantly re-evaluate their strategy in the fast-paced e-economy Banks have to keep up with the constantly evolving business models and technology innovations of the Internet space. The present book is an empirical study in Punjab and evaluated customers satisfaction and awareness level from E-Services and also suggested some vital strategies to protect the customers in e-age. This book may be very useful for Banking Industry planners policy makers academicians researchers and those who are interested in Banking studies.