A Study of Customer Perception Toward Mobile Banking in Western Maharashtra

Abstract

Banking is the backbone of every industry and technology plays an important role in every industry. The role of technology is increasing day by day very rapidly, which is also boosting the banking industry. Banking is one of the largest financial institutions that regularly explore the opportunity of technology to provide better customer service. Over the years, banking has evolved from the traditional brick and mortar model of customers queuing up at banks for services to modern banking where a bank can reach out to them at any stage for their services. In today's business, technology is one of the biggest indicators of growth and competitiveness. The banking industry today is in the midst of its revolution. Information technology is used in banking in two different ways. One is communication and connectivity and the other is business process. Today, banks have welcomed wireless and mobile technologies into their boardrooms to give their customers the freedom to pay bills, plan payments while stuck in traffic jams, get updates on various marketing efforts to provide a more personal and intimate relationship while attending a party. This paper examines consumer perception and adoption of a new electronic payment service as mobile banking and the positive and negative factors affecting the adoption of mobile banking in India.