Customer’s Perception about Banks Technology for Innovative Delivery Channels of Public Sector Banks (PSBs) of India

Abstract

Purpose: The present study aims to focus on the customer's perception about technology being used for delivery of financial products and services by Public Sector Banks (PSBs) of India. Design/methodology/approach: The study was based on primary data collected through structured questionnaire. The survey as well as in person interview of Bank's customers and Bank managers have been conducted to understand the factors influencing customers' perception about the technology used for innovative delivery channels by PSBs on five factors viz., acceptability, safety, availability, user friendliness and accessibility. The random sampling was used and the size of the sample was 304. Hence, the type of study was exploratory and descriptive in nature. Findings: The study finds that public sector banks need to understand the factors that influence the perception of an individual to add greater value to customers in terms of delivering financial products and services through innovative delivery channels. Most of marketing decision in terms of enhancing the effectiveness of delivery channels can be taken by considering these factors. There is also a need to educate the customers, so that effective, secure and safe use of innovative delivery channels can be made available to all and delivery channels can be used effectively for marketing of products and services too. Practical implications/limitations: The identification of significant factors of customers' perception about delivery channels may be used more effectively by PSBs for cross-selling and up-selling of financial products and services. Our study was limited to the customers of PSBs of India, so the findings may be applicable to PSBs only and cannot be generalized. Originality/value: This study was made on primary data, which has provided significant factors of customers' perception about technology being used by innovative delivery channels of PSBs of India. These significant factors can be helpful to PSBs for enhancing effectiveness of delivery channels.