Current Customer Service Provided Indian Banks

The example below lists the results for numbers 6-10. The measures of central tendency include mean, median, and mode. In this example the measures of central tendency will be calculated based on row B, which indicates the number of months that a particular employee has been with the company. The data being analyzed is the

According to the most recent Federal Reserve study; most of us haven’t set foot in a banking hall in ages. It is a lost battle to banks that opt to use traditional methods to conduct their banking transactions (Gup 2003). By December of last year, close to half of all smartphone users in the United States had transacted some or all of their banking on their phones and iPhones. In the United Kingdom alone, rates of mobile banking transactions doubled over the course of a single year (Scn Education 2001). A banking business that invests in this type of technology gets assured of increasing their customer base.

Abstract: Bancassurance, which basically involves banks acting as corporate agents for insurers to distribute insurance products, has evolved as a strong distribution channel in many countries. Through this paper, an attempt has been made to trace the impact of performance parameters on level of customers’ satisfaction from bancassurance services in public and private sectors banks of Haryana. The relevant data in this regard has been analyzed with help of t test, Standard deviation and mean. The results of the study have been interpreted on the basis of such analysis. The results showed that customers showed higher agreement towards the performance parameters of private sector banks and lower agreement towards the performance parameters is observed in public sector banks.

-Quantitative data were described as means (SD) or medians, as appropriate. They were tested for normality by Kolmogorov-Smirnov test. In the normally distributed variables, one way

Descriptive survey type of research was used because this method or type of research is commonly conducted to collect detail description of existing phenomena with the intent of' employing data to justify current conditions and whenever possible to draw valid general conclusions from the facts discovered (Koul, 2006). As it fits to the purpose of the study, this research design was used to assess the quality of service delivery by asking customers about their expectations with regard to the bank's service and their perception on the actual service delivered by the bank and finally to compare and contrast the two for the sake of reaching up on discrepancies, if any.

Measures of Central Tendency: The mean, median and mode are all valid measures of central tendency, but under

So as to assess the service quality performance, the five dimensions of service quality model were used. From the five dimensions of service quality model, the banks were found to be top-quality in providing appealing service environment. The banks are good in tangibility, reliability, assurance, and empathy dimensions. The mean score value for responsiveness is last compared with other dimensions indicating lesser performance of these banks in this dimensions of service quality. This is the part where banks need to work with the aim of improving customer perception of service quality. Bank employee those who specially have contact with customer need to be continuously trained with proper skill of providing caring and prompt service.

This process achieved them customer loyalty and increased the revenue for the bank and reduced the cost for them. According to many researches, banking is the sector which doesn’t need too much promotion techniques rather than the best way to adopt is to take care of the customers by the transaction accuracy and

With the rapid improvements in electronic technology and faster communication technology, the society has become more sophisticated than in the olden days. The workforce is better educated, better informed, better organized and better paid than existed in the olden days. Consequently, the long term-trend is for the customers who will be more aware of the value of the funds, time and convenience. This has led to a demand for more efficient banking system with efficient payment methods. The situation has resulted in more competition among the banks and stimulated more technological developments. Hence, there is a continuous increase in the use of electronic technology to meet the ever increasing competition in banking which is transforming brick and mortar banking (banking at a fixed branch premises) to electronic banking. The delivery of bank’s services to a customer at his office or home by using electronic technology can be termed as electronic banking. The quality, range and price of these electronic services decide a bank’s competitive position in the industry (Kumar, 2000).

Banks are competing intensely in a highly competitive environment to offer quality oriented services according to customers’ expectations. Various important parts of banking sector like operations, service quality, employee satisfaction, customer satisfaction, financing products, efficiency, financial performance are being studied by many researchers to better understand and serve the community at large (Arokiasamy, 2013).

Furthermore, smartphone-bankingindustry ismature toagreatextentthanearlierperiod.Ithasdevelopedsuperbimageintheirvarious activitiesincludingelectronicbanking.Nowmodernbankingserviceshavelaunched bysomemultinationalsandnewlocalprivatecommercialbanks.Novelty & curiosity regarding the use of mobile banking services was mentioned in the survey as one trigger for adoption. The present results reflect the fact that mobile banking services are at a relatively early stage in the path of diffusion. It is often the case that the first adopters of an innovation are motivated simply by the desire to get their hands on the latest & greatest innovation; the stimulus is curiosity regarding anything that is truly brand new. Mobile banking has not yet gone beyond this phase, indicating clearly that mobile banking services are not yet fully institutionalized; they have not entirely become part of the ongoing practice & way of life of the adopters. Adoptingm-bankingservices,banksin developingcountriesarefacedwithstrategicoptionsbetweenthechoiceof delivery channels andthelevelof sophistication of services providedbythesedelivery channels (Ahmed and Islam, 2008). Banks will reap the benefits of IT truly and totally, if and

In view of the deductions from the findings in chapter 4, it can be seen that even though most customer are aware of the e-banking channels they do not have confidence in the channels. Based on our theoretical framework from SERVQUAL model five dimensions analysis covered E- service quality dimensions such as tangibility, reliability, empathy, customization, security and responsiveness, the questionnaire covered the four online service quality dimensions can be used to measure service delivery in e-banking. Under tangibles, the respondents said the enlightenment campaign has been carried out by the bank. Most of the respondents do not feel the e-banking channels are reliable. For responsiveness, the respondents do not feel the bank responds promptly to their request/ queries and they also do not believe that the bank empathizes with them. The bank thus needs to focus on improving on services on its e-channels so as to enable customers build confidence on the e channel

Similarly, banking products such as insurance, property and financial investments, which till a decade or so ago required cumbersome processes and paperwork are now conveniently possible with a few clicks on your mobile phones. Cash withdrawals have shifted from the branches to the popular cash machines (ATMs) with their ubiquitous presence all over the country and in most places around the World. This has resulted in shutting down of several bank branches and corresponding cost reduction. The remaining branches are being retooled for branding and merchandising in high streets as well as meeting places for retail customers dealing with more complex products such as financial investments and mortgages. Whereas footfalls at bank branches started falling in the 1990s with the spread of ATMs this trend was further augmented with the Phone Banking service introduced around the same time which allowed customers to talk to a bank representative 24/7 all days of the year for a range of services. This service became popular for speedy and convenient service delivery, however, over the last few years is reported to being seen in a decline as new technologies are taking over.

Besides opportunities of this channel, banks and financial institutions across the world face new challenges to the ways they operate, deliver services and compete with each other in the financial sector. Driven by these challenges, banks and financial institutions have implemented delivering their services using this channel (Chan&Lu, 2004; Cronon, 1997). Internet banking refers to the use of the Internet as a delivery channel for banking services, which include all traditional services such as balance enquiry, printing statement, fund transfer to other accounts, bill payment, and so on, and new banking services such as electronic bill presentment and payment (Frust, Lang&Nolle, 2000) without visiting to bank branch (Mukherjee&Nath, 2003; Sathye, 1999). Many commercial banks and financial institutions have implemented Internet banking services over the past decade. Compared with traditional over the counter banking, Internet banking does not offer face-to-face contact in what is essentially a one-to-one service relationship with the individual. As a result, Internet banking must deliver higher quality in order to compete. Understanding customer’s expectations and how they feel about their perceived services is becoming a very serious concern. Internet banking continuous success comes from two groups: new customers and repeat customers. Since it always costs more to attract new customers than to retain

share. Banks have to deal with many customers and render various types of services to its customers and if the customers