Adaptation of Digital Banking Channel by Indian Consumers

Abstract

A strong and healthy banking system is important requirement for economic growth. Indian banking industry, today is observing an IT revolution. The implementation of internet in banking organizations has modernized the banks. Implementing the internet banking approach has benefited the both i.e. consumers as well as banks. Considering the benefits, the banks all over the globe have implemented the internet banking and banking organizations in India are no exception.Thepurpose of the study is to determine the consumers perspective on adaptation of digital banking channel and to analyse the demographic factors of Indian customers which affect the use of technologies withrespect to such factors as convenience, privacy, security, ease of use and real time accessibility. This study includes 210 respondents from with a survey based design. The study shows that Online financial and saving plans and bill payments are the most effective factors which influence the consumer to adapt digital banking, the study also shows the significant difference between thelevels of acceptance in different age group to adapt the digital banking channel in the consumer of India and the significant difference between the consumers of different age groups usingMobile Banking App to adapt the digital banking.