The Level of Awareness of the Selected CBEAM Students on the Extent of E-Banking Security Technology plays an important role in the society nowadays and is already used in the different aspects of business like banking. According to Acevedo (2015), businesses rely on the access to bank information to perform the accounting tasks for the monitoring of the status of a business. In addition, E-Banking offers easy access, secured transactions and 24-hour banking. Moreover, as said by Titrade, Ciolacu, and Pavel (2008), the evolution of E-Banking started through automatic teller machines (ATMs), electronic funds transfer, and online payment. Based on the history presented by the article The History Of Internet Banking (2012), the innovations in online banking started in the early 1980’s and were giving easier job for the people who have access to it.
Customer Satisfaction in the Indian Banking Sector In today’s competitive environment relationship marketing is critical to banking corporate success. Banking is a customer oriented services industry and Indian banks have started realizing that business depends on client service and the satisfaction of the customer. This is compelling them to improve customer service and build relationships with customers. Banking in the Western world is one of the many service industries where customer satisfaction has been the focus of research (Holliday, 1996). This is mainly because of the fact that the banking sector is increasingly experiencing a high level of competition.
There are various changes has taken place in Indian banking sector. Information technology is one of the changes of banking sector and it influences the way of interaction between the customer and the banks. In electronic banking the channels and products are available is ATMs, cards, internet banking and mobile banking offered along with the traditional branch banking system. The transaction of money among the countries through e-banking increases with times. The people getting attracted the banking through the electronic means.
Today the Internet is the best way, was a supply channel and distribution complete and walking in consumer-oriented in the forefront of this development is the electronic applications of financial products and services. Due to the rapid spread of cyber EFT is an alternative channel for the provision of banking services and products. In Sri Lanka, the banks are now online services and ETF as head of the Bank of Ceylon, Sampath Bank Commercial Bank of Sri Lanka, are beginning to appear. Electronics is now considered a strategic weapon and will revolutionize the way banks operate, deliver and compete with each other, especially when the competitive advantages of traditional branch networks is rapidly eroding (Nehmzow, 1997; Seitz,
First part. Customer Relationship Management (CRM) is a holistic approach, which requires alignment of several aspects of a business. The concentrate of CRM helped banks to understand the customers current requirements, what they have done in the past and what they can do to meet their requirements in the future. The intelligent use of information about customer requirements will make long range two directions relationship with customers. Today, Banking sector face a lot challenges like global competition for loans, deposits, underwriting fees, shrinking profit margins and need to continue with new technologies.
The study concluded that public sector is more reliable that but not so good in quality and innovativeness, a private sector bank is not so reliable but they are better in services quality and innovation. Bhallabh(2002) analyzes challenges in the post banking sector reforms. With globalization and changes in technology, financial markets, world over,have become closely integrated. For the survival of the banks, they should adopt new policies/ strategies according to the changing environment. Kumar (2006) studied the bank nationalization in india marked a paradigm shift in the focus of banking as it was intended to shift the focus from class banking to mass banking.
• To provide any branch banking to its members and customers by implementing core banking facility. • To act as a corporate agent of general insurance company to collect premium. EMPLOYEE PROFILE There are 219 employees comprising of secretary, 167 regular employees and 70 commission agents. The employees are very much dedicated and hard working and they are able to maintain good customer relations through their polite behavior. The bank is imparting training to the employees to cope up with the new technology and methods that are taking place in banking sector as part of banking innovation.
Going digital – transformation in banking sector Digital transformation in Banking sector has begun. In the process of going digital, established institutions are introducing digital platforms that could help their customers have a better experience. While, startups in this domain are coming up with an approach of having “digital platform” as the only way to function. Customers today are introduced to a digital platform that takes care of all their banking functions from opening a new account to handle issues relate to their existing account, and helps resolve issues associated with their debit or credit cards. Customers across the globe have been continuously demanding a digital medium that can make their banking functions simple.
EMERGING CHALLENGES: Technological changes in Indian banking system presents great opportunities and challenges for the banking industry. The primary challenge is to give consistent service to customers irrespective of the kind of customer. Different banks can differentiate their services by offering more technical facilities. Developing or acquiring the appropriate technology for the product, deploying it efficiently and then managing it to the extreme level is important to achieve and consistently providing high service and optimal standards while remaining economical and delivering sustainable return to shareholders. Leveraging technology is therefore, a key challenge that will be faced by the Indian banking sector.
TECHNOLOGICAL ADVANCEMENT After the industry revolution Information revolution is the most successful revolution that happens in India. Due to the invention of microprocessor, personal computer, software there is a huge development occurs in the field of information technology. Today financial institution such as Banks and insurance companies are using Information technology to achieve objectives such as: • Handling of large business with optimal level of efficiency. • Maximize the profit. • Due to technology advancement now banks and others financial institutions can enhance their reach.