Impact of Digitalization on Service Marketing in the Indian Banking Industry
DOI:
https://doi.org/10.48165/gmj.2022.17.1.11Keywords:
Digitalization, Indian Banking Industry, Customer Service, Privacy, E – ServqualAbstract
Globally, Indian banking is making the move to digitization. By the late 1980s, the Indian banking industry had realized the need for digitalization and that customer service needed to be considered as an important aspect . Due to the adverse effects of several financial reforms on India in the late 1980s, the banking industry saw a need to improve customer service and computerize the recording of transactions and knowledge accounting. Today, all banks make significant investments in digital projects to keep a competitive advantage and offer their clients the best service possible. After its launch, customers have greatly profited from the convenience and time savings.
All manual processes and activities have been replaced by digital services. Although it has benefited customers and had a significant impact on the Indian banking sector, there are still a number of difficulties that arise. This paper will examine the effects of digitalization on service marketing in the Indian banking sector and how it has changed over time. This study’s main goal is to measure how satisfied bank customers are with the online services they receive from banks . This study makes use of the e – Servqual method to measure quality of services provided to banking customers after digitalization has taken place in the banking customers.
Downloads
References
Marketing communication and banking service industry. (2020). Journal of Marketing and Consumer Research. https://doi.org/10.7176/jmcr/67-09
Jain, R. (2011). Service Marketing in Banking Industry Present Concern of Evolving India. Indian Journal of Applied Research, 4(6), 329–331. https://doi. org/10.15373/2249555x/june2014/101
Kim, L., & Jindabot, T. (2022). Evolution of customer satis faction in the e-banking service industry. Innovative Marketing, 18(1), 131–141. https://doi.org/10.21511/ im.18(1).2022.11
Bhatt, Kedar (2020). Measuring service fairness and its impact on service quality and satisfaction: a study of Indian Banking Services. Journal of Financial Services Marketing, (), –. doi:10.1057/s41264-020-00069-7
Koushiki Choudhury (2008). Service Quality: Insights From The Indian Banking Scenario. , 16(1), 0–61. doi:10.1016/s1441-3582(08)70004-1
GIRINATH, G., & Dr. A. RAVI, D. A. R. (2011). An Impact of e-Customer Relationship Management on the Service Quality of Indian Banking Sector. Indian Journal of Applied Research, 3(12), 266–271. https://
doi.org/10.15373/2249555x/dec2013/79
Choudhury, K. (2014). Service Quality and Customers’ Complaining Behavior: A Study of the Indian Banking Sector. Services Marketing Quarterly, 35(2), 123–137. https://doi.org/10.1080/15332969.2014.88
Tanda, A., & Schena, C. - M. (2019). FinTech, bigtech and banks : Digitalisation and its impact on banking business models. Switzerland: Springer.impact on banking business models.
TOHĂNEAN, D. (2018). INNOVATION MANAGEMENT AND ARTIFICIAL INTELLIGENCE: THE IMPACT OF DIGITALISATION ON MANAGEMENT PROCESSES. Review of the Air Force Academy, 16(1), 81–88. https://doi.org/10.19062/1842-
2018.16.1.12
Regulatory, structural and technological factors are signifi cantly changing the banking environment through out the world. One factor that is spurring the growth of the service economy in India is the liberalisation that has been ushered in by the government in the banking sector.
Kaur, A., & Malik, G. (2019). Examining factors influenc ing Indian customers’ intentions and adoption of internet banking: Extending TAM with electronic service quality. Innovative Marketing, 15(2), 42–57. https://doi.org/10.21511/im.15(2).2019.04
Royne Stafford, M. (1996). Demographic discriminators of service quality in the banking industry. Journal of Services Marketing, 10(4), 6–22. https://doi. org/10.1108/08876049610124554
Kahveci, E., & Wolfs, B. (2018). Digital banking impact on Turkish deposit banks performance. Banks and Bank Systems, 13(3), 48–57. https://doi.org/10.21511/ bbs.13(3).2018.05
Raza, Syed Ali & Umer, Amna & Qureshi, Muhammad & Samad, Dahri. (2020). Internet banking service qual ity, e-customer satisfaction and loyalty: the modified e-SERVQUAL model. The TQM Journal. ahead-of print. 10.1108/TQM-02-2020-0019.
Farnaz Beheshti Zavareh; Mohd Shoki Md Ariff; Ahmad Jusoh; Norhayati Zakuan; Ahamad Zaidi Bahari; Mohsen Ashourian (2012). E-Service Quality Dimensions and Their Effects on E-Customer Satisfaction in Internet Banking Services. , 40(none), –.doi:10.1016/j.sbspro.2012.03.213
Farnaz Beheshti Zavareh; Mohd Shoki Md Ariff; Ahmad Jusoh; Norhayati Zakuan; Ahamad Zaidi Bahari; Mohsen Ashourian (2012). E-Service Quality Dimensions and Their Effects on E-Customer Satisfaction in Internet Banking Services. , 40(none), –.doi:10.1016/j.sbspro.2012.03.213
Sulistiyawan, E., Salim, U., Rofiq, A., & Rofiaty. (2019). The role of the sharia banking service quality in cre ating customers’ satisfaction and happiness (a survey of state-owned sharia banks in Indonesia). Banks and Bank Systems, 14(4), 69–77. https://doi. org/10.21511/bbs.14(4).2019.07
Tran Phi Hoang (2018). Factors affecting service qual ity at Vietnamese retail banks. Banks and Bank Systems, 13(2), 39-48.
Mr.Naveen Chinni, Dr.P.V. Mohini, & Mr.S.Srinadh. (2021). IMPACT OF DIGITALIZATION OF BANKS. EPRA International Journal of Multidisciplinary Research (IJMR), 187–190. https://doi.org/10.36713/epra6556
Zunzunegui, F. (2018). Digitalisation of Payment Services. SSRN Electronic Journal. https://doi. org/10.2139/ssrn.3256281
Jagtap, D. M. M. V. (2018). The Impact of Digitalisation on Indian Banking Sector. International Journal of Trend in Scientific Research and Development, Special Issue(Special Issue-ICDEBI2018), 118–122. https://
doi.org/10.31142/ijtsrd18688
Valenduc, Gérard; Vendramin, Patricia (2017). Digitalisation, between disruption and evolution. Transfer: European Review of Labour and Research, (), 102425891770137–. doi:10.1177/1024258917701379
Azmi, Shujaat & Akhtar, Shakeb & Nadeem, Md. (2020). Impact of Digitalisation on Bank Performance: A Study of Indian Banks. Test Engineering and Management. 83. 23678 – 23691.
Meena, Rathi & Ganesan, Parimalarani. (2018). TECHNOTRENDS IN INDIAN BANKING SECTOR. 5. 78.
Dhaigude, Rahul. (2018). The progress of Indian Banking Sector.
Khan, Abdul & Manoj, Kumar & Sahoo, Manoj. (2022). Innovative Banking Products in the Indian Banking Sector - A Study. 1-03.
Bisen, D. V., & Singh, S. (2011). Analysing Service Quality in Commercial Banks in Lucknow City. Indian Journal of Applied Research, 4(4), 284–286. https:// doi.org/10.15373/2249555x/apr2014/87
Group, P. I. (2018). Consumer Characteristics and Technology Based Self Service Banking Service Quality: Evidence from Delhi NCR Region. PRiMa: Practices and Research in Marketing, 9(1), 39–49.
CHINNADURAI, P. A. N. D. A. R. I. N. A. T. H. A. N. (2017). Internet Banking Service Quality and Account Holders’ Satisfaction. IOSR Journal of Business and Management, 19(7), 81–86.
Singh, S. (2019). Measuring E-Service Quality and Customer Satisfaction with Internet Banking in India. Theoretical Economics Letters, 09(02), 308– 326. https://doi.org/10.4236/tel.2019.92023
Saleem, S. S., & Adil, M. (2014). Measuring Internet Banking Service Quality in India: An Empirical Study. Lahore Journal of Business, 3(1), 21–35. https:// doi.org/10.35536/ljb.2014.v3.i1.a2
Goyit, G., & Nmadu, N. (2016). Service Quality and Profitability of Banks: A Study of Selected Nigerian Bank. International Journal of Managerial Studies and Research, 4(1). https://doi.org/10.20431/2349-
0401003
Koskosas, Ioannis. (2011). THE PROS AND CONS OF INTERNET BANKING: A SHORT REVIEW. Business Excellence and Management. 1. 49-58.
Katiyar, Rajesh. (2018). A Study of Barriers to E-Banking in the Indian Scenario. 26. 17.1-17.8.
Malusare, Lalita. (2021). Digital Payments Methods in India: A study of Problems and Prospects. International Journal of Scientific Research & Management Studies.