An Empirical Investigation to Study the Adoption of Online Banking Channels by Retail Customers

Abstract

'Banks can save a lot of money with digital banking, and it also helps them build stronger ties with customers and provide them a unique product from the competition. Internet banking has been an option for Indian bank customers for over a decade, but adoption has been slow. In this analysis, we'll take a look at what factors Indian consumers consider when deciding whether or not to utilize an online bank. Because of developments and innovations in the financial sector, new and more efficient means of delivering and preparing financial products and services have become available. The banking industry is highly competitive, with stiff opposition from nonbank financial intermediaries and alternative financing options. The ever-increasing demands and expectations of consumers, which have grown along with their salaries and education levels, are another pressing problem for today's banking institutions. Consumers are becoming increasingly engaged and knowledgeable about their personal finance management. This research aimed to learn how Indian consumers felt about doing financial transactions using web banking services.

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Keywords: Online banking, Adoption, Retail Customers