A Gap Analysis on Awareness and Utilization of Social Media Banking – The New Line of Self Service Banking

Abstract

Today the scenario has changed from geographically-based community to electronically- based one. For all kinds of banking transactions, the users of social media can be very well targeted. In Internet Banking, there are three basic kinds like informational level, communicative level and finally the transactional level. All the banks in India have already gone through the first two levels and all of them are in the transactional level as far as the Net Banking is concerned. This study stepped to know the gap between the awareness and utilisation of social media banking services. It is found that there is a wide gap between the awareness and utilisation of various services of Social Media Banking by the users.