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Customers, especially for years, have grown accustomed to discovering the best that
technology can offer, with the likes of Google, Netflix, or Amazon being an integral part of
their daily lives. Mobile banking applications allow customers to use non-financial services.
However, due to a lack of knowledge and information, these services are not yet fully utilized
by customers. As banks evolve towards a digital future, banks need to survive this shift and
digitization is the only answer. Digitalization aims to bring remote rural regions disconnected
from the formal financial sector through electronic banking channels to contribute to economic
development. Digital banking systems help connect the underprivileged masses with a standard
banking system by providing various banking services. It is high time for Indian banks to
identify low-cost branch strategies to connect more people with digital bank channels, although
the area has been under little research . Previous research conducted in the digital banking
environment has primarily examined customer attitudes and pre-existing variables that are
important to customers while using digital banking channels or features that affect customers'
intention to use modern banking channels.
Future research could explore the impact of COVID-19 on digital banking and the acceptance
of mobile payments in India as the current epidemic has encouraged consumers to access
remote banking services. Indian banks should evaluate the potential of payment models based
on the modern agency network in achieving a non-financially viable category and to assess
whether these new types are potential opportunities or threats to established digital channels.
References
▪ https://www.ssoar.info/ssoar/bitstream/handle/document/49483/ssoar-2016-kolekar-
Computers_and_technology_in_banking.pdf?sequence=1&isAllowed=y&lnkname=ss
oar-2016-kolekar-Computers_and_technology_in_banking.pdf
▪ https://link.springer.com/article/10.1057/s41264-020-00082-w
▪ https://gulfnews.com/business/banking/uae-financial-regulators-need-to-foster-
innovations-says-bcg-1.1611759991279
▪ https://jfin-swufe.springeropen.com/articles/10.1186/s40854-020-0171-z
▪ https://gulfnews.com/business/banking/evolution-of-e-banking-in-the-uae-1.2077132