8/4/2019 Comparative Study on Customer Perception of Technology Adoption
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Comparative Study on
Customer perception of
Technology Adoption in Public
& Private Sector Banks
Srirup Goswami (10DM026)
Amit Kumar Das (10DM031)
Sourav Dutta (10DM037)
Yashdeep Dabas (10DM048)
Anirban Bose (10DM054)
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Introduction Banks in India need to be complimented on the inculcation
of technology in a large way in their day-today operations.
Credit must be given to Indian Banks who have brought on
the new wave of techno-banking in the country.
Customers of banks have felt the positive impact oftechnological solutions implemented by banks starting from
banking to the advancement of e-banking.
The customer of banks of today have a virtual menu ofoption from Automated Teller Machines, electronic based
funds transfers, Internet banking, mobile banking.
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Introduction (Contd.)
They are some of the latest technology based paymentsolutions, which have gained large acceptance amongst theIndian banking.
The focus area for Banks in India is use of Business Intelligencefor regulatory reporting, customer and corporate purposes.
Straight through processing (STP) and 24 x 7 operations will be
key differentiators in banking technology going forward.
Adoption of technology differs from public sector banks toprivate sector banks. Customer perception regarding the same
differs accordingly.
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Research Objective Changes in banks external environment have made the banking sector
highly competitive.
Banks find it hard to compete on price, and need to look at other ways toretain customers.
As customers become more sophisticated, banks consider the use oftechnology to respond to their continuously changing requirements.
Current scenario in India shows the pace at which technology in Internetbanking proceeds doesnt match with the customers usage rate.
Objective of our research is to know about the customer perceptionsregarding adoption of technology in public and private sector banks.
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Research Methodology
Data Collection
Secondary Data- From internet and online forums.
Primary Data- Structured questionnaire.
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Variables:-
Convenient way of operating banking transactions.
Reliability.
Time factor.
Real time access to information.
Easy to use and user friendliness.Anytime and anywhere banking facility.
Queue management.
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Sampling Design:-
Convenience sampling method.
Snowball Sampling method.
Target Population : All persons holding bank
accounts in different banks irrespective of private
sector and public sector banks.
Sample Size: Our sample size is 56 based onFacebook response collection as on 6th March, 2011
[time: 11:00 a.m. to 11 p.m.]
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What Do The Facts & Figures Show ??
SM Assignment.docx
http://sm%20assignment.docx/http://sm%20assignment.docx/8/4/2019 Comparative Study on Customer Perception of Technology Adoption
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Interpretation: Most of the respondents (37%) are State Bank of India customers
signifying the importance of public sector banks along with SBIs goodwill in the
customers perception.
State bank of India
37%
ICICI Bank
6%
Punjab
National
Bank
7%
Allahabad Bank
2%
Axix Bank
7%
HDFC Bank
11%
Bank Of India
7%
HSBC
2%
Bank Of Boroda
9%
Standard Chartered
2%Others
10%
Which bank are you a Customer of
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FindingsThere has been a heightened difference noted in case of customer
perception regarding use of technology in public sector banks and
private sector banks. The main reasons of these differences according
to us are:
~ Customers unawareness of a lot many services offered by banks
which indicates the lack of enough educating the customers by the
banks about the existing facilities and lack of sufficient promotionof these services.
~ Some services are too complicated to handle and lack user-
friendliness.
~ Brand preference is a factor. People are mostly favored towards the
well known banks with goodwill.
~ Phishing, pharming and other attacks to account information are a
major issue. People evidently prefer going for banks which are
reliable enough to fight these issues successfully.
~ All kinds of facilities are not available in a widespread manner.
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RecommendationsInternet banking in public Sector Banks should bemade more user friendly
Availability of ATMs of Private Sector Banks should
be increased Customers should be made aware and educated
about the existing and new technologically advanced
facilities provided by the banks (especially P.S.U.banks)
Customer authentication and account security
should be given prior importance
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