PREFERENCE OF RETAIL SELF SERVICE CUSTOMERS TOWARD S SELF SERVICE TECHNOLOGY IN INDIAN BANKING SECTOR A COMPARATIVE STUDY OF SELECTED PUBLIC AND PRIVATE SECTOR BANKS IN JHARKHAND

Abstract

Customer centricity is one of the crucial aspects of defining the survival and growth of newlinebanks in today s competitive world. Customers need for quality service with newlineconvenience and speed has led to numerous initiatives by banks. This includes instant newlinebanking solution through the use of self-service technology that is expected to facilitate newlinesignificant enhancement in the quality of customer support. While noteworthy progress newlinehas been made by banks in this respect, there is still an urgent need to make the services newlinemore customer-centric in relation with customer quality and preference and extend its newlinereach to a wider section of the society. newlineThe purpose of this research is to identify appropriate demographic segments where the newlineself-service technology is still not widely adopted and find the difference in preferences newlineof customers, if any, between public sector (SBI and Bank of India) and private sector newline(HDFC and ICICI) banks in Jharkhand regarding the self-service technology. Exploration of newlinethe customer s preference and the categorization of the demographic variables (like newlinegender, age, educational qualification, and occupation) have been done with the help of newlinereview of existing literature and valued opinion of experts. The aspects of self-service newlinetechnology such as convenience to use with reference to location, time, cost, comfort, newlinesecurity and human interface of banks are analyzed. Data has been collected from newlineprimary as well as secondary sources in the research work. The need of the customers has newlinebeen analyzed to reconfigure internet banking strategies so that the facilities could be newlinemore customer-centric in relation to customer quality and preference. The study provides newlinethe recommendation on how these self-service technologies can enhance customer newlineperceptions regarding quality and preference so that customers move less to banks newlinethereby decreasing the operational cost of the bank.