EFFECTS OF E-BANKING ON CONSUMER SATISFACTION AND ITS POTENTIAL CHALLENGES: A CASE OF PRIVATE BANKS IN PUNJAB
DOI:
https://doi.org/10.61506/01.00014Keywords:
E-banking Adoption,, Consumer Satisfaction, Private Banks in PunjabAbstract
The adoption of E-banking by private banks in Punjab has seen momentous growth in modern era. This growth can be attributed to several factors, including the increasing penetration of smartphones, improved internet connectivity, and evolving consumer preferences. The primary objective of this study was to evaluate consumer satisfaction levels concerning E-banking initiation provided by exclusive banks in Punjab, Pakistan. Additionally, the study aimed to identify the key components that influence consumer satisfaction with E-banking in private banks in Punjab. These factors include service quality, security, user experience, and innovation. To conduct this study, a quantitative cross-sectional approach was employed, and the sample size consisted of 200 customers. The obtained reliability of the study fell within an acceptable range. The results of this research provide significant insights into the complex relationship between E-banking adoption, the various influencing factors, and overall customer satisfaction levels in private banks in Punjab. Unequal access to technology and digital literacy can limit the benefits of E-banking to certain segments of the population, potentially leading to dissatisfaction among excluded groups. Banks should work on bridging this divide to ensure broader customer satisfaction. Private banks in Punjab must continue to innovate and adapt to evolving customer expectations to maximize the benefits of E-banking and maintain high levels of consumer satisfaction.
References
Alam, M. S., Akhter, S. H., & Uddin, M. M. (2020). Impact of E-banking Service Quality on Customer Satisfaction: An Empirical Study on Indian Commercial Banks. International Journal of Bank Marketing, 38(3), 634-656.
Alkhaibari, M., Albarq, A., Elrayah, M., Moustafa, M., Ghaleb, M., & Abbas, A. (2023). The impact of e-banking service quality on the sustainable customer satisfaction: Evidence from the Saudi Arabia commercial banking sector. International Journal of Data and Network Science, 7(3), 1153-1164.
Almansour, B., & Elkrghli, S. (2023). Factors Influencing Customer Satisfaction on E-Banking Services: A Study of Libyan Banks. International Journal of Technology, Innovation and Management (IJTIM), 3(1), 34-42.
Ansari, M. A. A., Hanif, N., Tahir, M. S., & Khan, A. J. (2021). Factors affecting non-performing loans in Pakistan during the COVID-19 pandemic: A case of micro finance banks. Review of Economics and Development Studies, 7(4), 493-500.
Arshad Khan, M., & Alhumoudi, H. A. (2022). Performance of E-banking and the mediating effect of customer satisfaction: a structural equation model approach. Sustainability, 14(12), 7224.
Ataya, M. A. M., & Ali, M. A. (2019, August). Acceptance of website security on e-banking. a-review. In 2019 IEEE 10th Control and System Graduate Research Colloquium (ICSGRC) (pp. 201-206). IEEE.
Ayadi, R., Bongini, P., Casu, B., & Cucinelli, D. (2021). Bank business model migrations in Europe: Determinants and effects. British Journal of Management, 32(4), 1007-1026.
Azhar, S., Shahi, M., & Chhapola, V. (2020). E-banking frauds: The current scenario and security techniques. In Encyclopedia of Criminal Activities and the Deep Web (pp. 905-918). IGI Global.
Ella, R., Reddy, S., Blackwelder, W., Potdar, V., Yadav, P., Sarangi, V., ... & Waghmare, S. (2021). Efficacy, safety, and lot-to-lot immunogenicity of an inactivated SARS-CoV-2 vaccine (BBV152): interim results of a randomised, double-blind, controlled, phase 3 trial. The Lancet, 398(10317), 2173-2184.
Garg, A., & Goyal, R. (2020). A Study of E-Banking Regulations and Customer Satisfaction in Indian Banking Sector. Journal of Internet Banking and Commerce, 25(3), 1-20.
Gupta, P., & Aggarwal, P. (2019). Factors Influencing Adoption of E-banking: An Empirical Study in India. Journal of Financial Services Marketing, 24(4), 163-176.
Hamdallah, M. E., Srouji, A. F., & Al-Ibbini, O. A. (2022). Does Perceived Organizational Support Have a Mediating Role in Directing the Relationship Between E-Banking and Corporate Digital Responsibility?. In Digital Economy, Business Analytics, and Big Data Analytics Applications (pp. 615-631). Cham: Springer International Publishing.
Hameed, W. U., Jahangir, A., Khan, A. J., & Iqbal, J. (2022). How to Develop Social Equity for Consumers? A Technology-Based Framework. iRASD Journal of Economics, 4(2), 173-186.
Jain, A., & Saxena, R. (2018). E-banking Service Quality and Its Impact on Customer Satisfaction in the Indian Banking Sector. Vision: The Journal of Business Perspective, 22(4), 421-432.
Jordà, Ò., Singh, S. R., & Taylor, A. M. (2022). Longer-run economic consequences of pandemics. Review of Economics and Statistics, 104(1), 166-175.
Kaur, R., & Kaur, P. (2019). Exploring Digital Divide: A Case of E-Banking Services in India. Journal of Internet Banking and Commerce, 24(3), 1-17.
Kumari, S., Jindal, P., & Mittal, A. (2023). Employee Productivity: Exploring the Multidimensional Nature with Acculturation, Open Innovation, Social Media Networking and Employee Vitality in the Indian Banking Sector: An Analytical Approach. International Journal of Professional Business Review: Int. J. Prof. Bus. Rev., 8(7), 59.
Malhotra, S. K., Saran, A., Singh, S., Mantri, S., Gupta, N., Bhandari, R., ... & Masset, E. (2023). PROTOCOL: Value chain interventions for improving women's economic empowerment: A mixed‐method systematic review. Campbell Systematic Reviews, 19(3), e1331.
Sharma, M., Luthra, S., Joshi, S., & Kumar, A. (2022). Developing a framework for enhancing survivability of sustainable supply chains during and post-COVID-19 pandemic. International Journal of Logistics Research and Applications, 25(4-5), 433-453.
Sharma, R., & Jindal, A. (2021). E-Banking Service Quality and Its Impact on Customer Satisfaction. International Journal of Bank Marketing, 39(3), 774-796.
Sharma, R., & Kaur, S. (2020). A Study of Mobile Banking Services and Customer Satisfaction in Indian Banking Sector. International Journal of Bank Marketing, 38(6), 1407-1428.
Singh, S., & Dhanda, S. (2021). The Role of E-banking in Gaining Competitive Advantage: A Study of Selected Indian Private Banks. IIM Kozhikode Society & Management Review, 10(1), 48-59.
Verma, S., & Mishra, M. (2019). Customer Satisfaction in E-Banking: A Study of Punjab National Bank in Delhi. International Journal of Bank Marketing, 37(6), 1533-1554.
Verma, S., Sharma, A., & Agarwal, N. (2021). Impact of COVID-19 on Banking Sector: A Case Study of Punjab National Bank and Axis Bank. International Journal of Applied Research, 7(11), 212-218.
