Abstract:
The traditional function of banking is limited to acceptance of Deposits
and providing the credit in the market. Today’s banking is known as
Innovative banking. The coming together of information technology,
communication and entertainment (ICE) has given rise to new
innovations in the product design and their delivery in the banking and
finance industry. Driven by new technologies, changing customer
preferences, and increased competition, banks have taken to heavy
investments in new distribution channels like advance automated teller
machines, telephone systems, and on-line banking, one of the reasons for
internet applications not to have picked up as expected so far have been
the concerns about the security and lack of the legal framework related to
such transactions. This hurdle has been reduced to a large extent in the
recent past with framing of laws enabling financial transactions through
electronic media. The most of the private and nationalized Indian banks
have entered in the technology age and providing various types of
electronic products and services to their customer. The objective of this
paper is to analysis the implementation of technology in Indian banks and
understanding the customers’ perception. This study is based on the
survey and the data which is collected through the issue of questionnaire
to the bank’s customer. The results show that customers are satisfied
with technology oriented banks products and services. The empirical
findings not only determine the different parameters also provide
guidelines to bankers to focus on the parameters on which they need to
improve and spread the awareness of electronic banking products and
services to each and every section of the society.
