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JOURNAL OF MANAGEMENT & ENTREPRENEURSHIP
ISSN : 2229-5348
UGC Care Group 1 Journal
AN EXPLORATORY STUDY OF CUSTOMER'S AWARENESS &
USAGE BEHAVIOUR TOWARDS SELF-SERVICE BANKING TECHNOLOGIES
Dr. Deepti, Assistant Professor, Chanderprabhu Jain College of Higher Studies and School of
Law, GGSIPU, New Delhi
Dr. Parul Agarwal, Associate Professor, Chanderprabhu Jain College of Higher Studies and
School of Law, GGSIPU, New Delhi
Ms. Jyoti, Assistant Professor, Chanderprabhu Jain College of Higher Studies and School of
Law, GGSIPU, New Delhi
Ms.Saumya Goel, Assistant Professor, Chanderprabhu Jain College of Higher Studies and
School of Law, GGSIPU, New Delhi
Abstract: Self-Service Technologies (SSTs) are the services operated by the customers without any
direct involvement or interaction with the service organization’s employees. Advances in technology,
cost savings, competitive advantage, convenience, accessibility, ease of use have allowed the
introduction of a wide range of self-service technologies i.e. ATMs, Internet banking, Mobile banking,
Telephone Banking etc. by the banking industry. The present study aims to study the demographic
profile of customers using SSTs, customer’s experience and perception towards banks, customer’s
level of awareness towards technology enabled banking self-services, customer’s usage of banking
services, utility of self-service banking technologies, preference of customers towards selected public
and private sector banks based on banking services features. The study based on primary data
observed that customers are frequently using SSTs like Online banking, Mobile Banking, ATMS to
meet their banking requirements like utility bill payments, cheque book services, checking account
statements for Debit/Credit card statements, domestic and international fund transfer, investment
services, checking loyalty related offers. Further, majority of customers stated that they can complete
banking transactions using technology, they can learn & work more quickly with new technologies.
Almost half of them stated they would recommend use of technology to their friends and relatives.
Key-words: SSTs, e-commerce, private banks, public banks, technology enable banking self-services,
self-service banking technology.
Introduction:
Self-Service Technologies (SSTs) are the technical interfaces that enable clients to create services
without a direct service employee's involvement. Using SSTs, a consumer can conduct electronic
banking transactions without visiting a physical facility (Wang, So& Sparks, 2017). Many face-to-face
service interactions are being replaced by SSTs in an effort to make service transactions more accurate,
convenient, and quick. SSTs are characterized by the automated direct distribution of new and old
banking goods and services to clients via electronic and interactive communication channels
(Parasuraman et al., 1985). The words personal computer banking, Internet banking, virtual banking,
online banking, home banking, remote electronic banking, and phone banking relate to one or several
SSTs. Electronic banking is not a novel concept for banks or their consumers. Through software
programmes, banks have provided their services to clients online for years (Xu, Thong & Venkatesh,
2014; Yeo, Goh & Rezaei, 2017).
The rapid growth of the banking sector in India will be significantly influenced by technological
advancements (Cronin, Brady, & Hult, 2000; Cronin & Taylor, 1992; Parasuraman et al.. 1985). This
technology has led to a rise in the number of individuals who utilise financial services. It includes the
systems that enable customers of financial institutions, be they individuals or businesses, to access
various services, such as account information, repayment services, cheque and card services, domestic
and international funds transfer, utility bill payments, investment services, support services (complaint
submission, ATM location, etc. ), insurance services, and content services (weather updates, news and
Vol. 16, No.4 (II), October - December 2022 177

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loyalty related services) (Lehtinen & Lehtinen, 1991) (Jain & Gupta, 2004; Lehtinen & Lehtinen,
1991).
People have adopted banking services to save time, conduct streamlined transactions, experience
enhanced service quality, and furthermore to explore technology. In today's competitive environment,
the banking sector has emerged as one of the most competitive industries, with second-tier banks
struggling to retain rather than acquire new clients (Turner & Shockley, 2014). In addition, the
banking industry sector is confronted with a high customer churn rate, wherein customers easily switch
to a different bank whenever they perceive that banks are less responsive in understanding Customers'
desires and perceptions regarding banking services (Fornell, 1992).
The banking sector is anticipated to be a leader in e-business. While banks in developed nations rely
primarily on the Internet as non-branch institutions, banks in developing nations use the Internet to
improve customer relationships through information delivery (Jones et al..2003). Despite the fact that
numerous nations in Asia are well-connected to the Internet, security remains the primary concern
limiting the spread of e-banking (Anderson et al., 1994; Bowen and Chen, 2001; Fornell et al., 1996).
Access to high-quality e-banking services is also a problem. In comparison to affluent nations, the
majority of Asian banks offer just the most fundamental services. In Asia, e-banking appears to have
a promising future (Kotler, Philip dan A.B. Susanto. 2000). According to a poll conducted by
McKinsey (2008), e-banking will be effective provided fundamental functionality, such as bill
payment, are handled competently. Forty percent of survey respondents indicated that bill payment
was the most popular function. However, it would be difficult for Asian banks to provide this service,
as it demands a high level of security and the coordination of transactions with several parties
(McGrath & Astell, 2017; Meuter, et al., 2000; Tsou and Hsu, 2017).
Comparatively, between 5 and 6 percent of high- and middle-income group banking clients in
Singapore and South Korea utilised the Internet to complete their financial transactions in 2000. In
2001, a survey conducted by the Reserve Bank of India revealed that more than 20 major banks offered
or planned to offer e-banking services at various levels (Kurniasih, Apriyani. 2012). In 2001, the
private banks ICICI Bank, HDFC Bank, IndusInd Bank, IDBI Bank, Citibank, Global Trust Bank,
Bank of Punjab, and UTI Bank provided e-banking services. In the same year, nearly 17 percent of
the projected 0. 9 million Internet users were reported to use online banking. The aforementioned
statistics demonstrate that India has a substantial growth potential for e-banking. The banks have
already begun to concentrate on expanding and enhancing their online banking services (Hestu, 2013).
The Internet is hastening the restructuring of the European banking sector into three distinct
businesses: production, distribution, and advising. The Internet is accelerating this reconfiguration due
to the combined effects of the emergence of more focused new business models and technological
capabilities that reduce the cost of banking relationships and transactions (Lovelock, Patterson and
Walter, 1998). In contrast to their American counterparts, Europe's big banks enjoy a competitive
advantage due to their capacity to spend extensively in innovative technology. While the Internet has
enabled banks to supply requested products and services more rapidly and affordably, they face the
problem of enhancing customer contact through e- channels, which is crucial for client retention
(Martins, Oliveira and Popovic, 2014). To be successful on the Internet, banks must continually
differentiate themselves from their competitors, expand their market, and offer products and services
that provide value. As a result, banks are establishing online financial communities where users may
present and pay invoices and fulfil other financial and informational demands (Lovelock, Christopher
and Wright, 2007).
By bringing customers and vendors together on a single platform, financial institutions may capitalise
on their clients' confidence in them and act as an intermediary to guarantee that billers are paid and
consumers receive satisfying services. Banks may be required to conduct periodic surveys and solicit
customer feedback regarding the usability and simplicity of their websites and other e-banking
initiatives. (Bitner, et al.. 2000; White, 1998) Technological advancements have provided novel ways
of utilising electronic technology to deliver services to clients. Numerous authors believe that merely

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satisfying customers to an almost-satisfactory degree is insufficient; rather, customer satisfaction must
be correlated with their behaviour and purchasing decisions, so that by measuring customer
satisfaction, a higher score indicates whether a customer will become a loyal customer or not (Ganguli
and Roy, 2011).
It is believed that customer satisfaction will lead to customer loyalty, and by measuring customer
satisfaction, we can determine the number of potential customers who will repurchase the same
product or remain affiliated with the company for a longer period of time. Banks are expected to
deliver high-quality services to its clients in order to keep or gain customer loyalty; if they fail to do
so, consumers will migrate to a different bank. According to Tjiptono and Chandra (2005), the benefits
of service quality include how to establish a larger client database, more customer loyalty, improved
productivity, a greater number of satisfied customers, and to have a competitive advantage by
increasing market share.
Expected service quality and perceived service quality are the two factors that have a direct impact on
customer satisfaction and the delivery of quality services (Makanyeza et al., 2017). Numerous banks
are in competition with one another to increase their quality of services and relationship marketing
techniques, which will help them please their clients and develop satisfying connections with them
(McGrath & Astell, 2017). This article will investigate the many facets of self-service technology and
the public's awareness of those facets.
SST Channels in the banking industry include Internet Banking, Mobile Banking, Automated Teller
Machine and electronic fund transfer. The technologies have made it possible for the customers to
withdraw money, transfer the fund anytime, anywhere as they want. 24x7 banking from any place,
less workload on branches, less waiting time, no need of teller’s services and lower cost of transactions
are some of the advantages of Self-Service Technologies. To survive in the competitive era and to
improve the standards of customer services, adoption of SST is becoming a common trend among
banks.
Literature on SSTs
The idea of service quality comprises delivery process (Parasuraman et al.. 1985) and service result
(Lehtinen & Lehtinen, 1991). In the preceding decades, the discussion over service quality
characteristics and their assessment emerged as a new phenomenon (Jain & Gupta, 2004; Lehtinen &
Lehtinen, 1991). Numerous studies have been reviewed to examine the paradigm of service quality
(Cronin, Brady, & Hult, 2000; Cronin & Taylor, 1992; Parasuraman et al.. 1985). In terms of its idea
and structure, Parasuraman et al. (1988) conceived service quality as a five-dimensional entity. These
characteristics consist of (1) Dependability, (2) Responsiveness, (3) Assurance, (4) Empathy, and (5)
Tangibility.
In order to achieve efficacy and efficiency, especially in addressing consumer needs, it is currently
impossible to separate day-to-day banking operations from the use of computer technology. The
application of technology such as self-service technology (SST) in online banking systems, internet
banking, mobile banking, mobile phone-based (phone banking), and the use of Automatic Teller
Machine (ATM) is one of the bank's strategies for retaining and satisfying customers and creating a
competitive advantage to compete with other banks. According to Bobbitt and Dabholkar (2001),
customers' access to numerous services, including banking services, has altered as a result of the fast
use of self-service technologies. Since the beginning of the 21st century, the number of products or
services employing technology and the significance of technology in manufacturer-customer
interactions have increased at a rapid rate (Parasuraman, 2000; Howard and Worboys, 2003).
In addition, according to Devlin (2005), the banking industry is one of the forerunners in the adoption
of automation services, since automation is considered as a technological advance in banking services
that allows providers to differentiate themselves from rivals. Specifically, banks that were enthusiastic
adopters of self-service technology of various types, such as automated teller machines (ATMs),

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telephone banking, internet banking, and mobile banking or SMS banking, which customers could use
independently to meet their needs without interacting with bank employees (Meuter et al., 2000).
Service quality, particularly in the banking industry, is a major factor in a bank's ability to keep clients
and acquire new ones. As a result, ensuring service quality has become a priority for the majority of
banks. According to Zeithaml (1988), service quality is a consumer's evaluation of a product's total
excellence. Parasuraman et al. (1988) defined service quality as the contrast between customer
expectations and perceived performance. The Model of Service Quality Gaps and SERVQUAL scales
developed by Parasuraman et al. (1985, 1988) are generally acknowledged instruments for assessing
service quality.
Evaluation of service quality was not based just on the final quality of the service, but also on the
process of service delivery. These factors had a substantial impact on future expectations of a bank's
service, although their relative importance varied from service encounter to service encounter (Bitner,
1990). In follow-up study, Parasuraman et al. (1988) developed five characteristics for assessing
service quality: tangible, dependability, responsiveness, assurance, and empathy.
In practise, several research provide strategies for controlling service quality in relation to boosting
customer happiness (Jones et al.. 2007; Ranaweera and Prabhu, 2003). There is a race among banks
to give consumers with a high degree of satisfaction, since the level of competition among them is
intensifying. Achieving a high level of customer satisfaction is essential and the key to fostering client
loyalty, as banks will gain a great deal from the success of this goal. In addition to keeping clients
from transferring to other banks, a high degree of satisfaction may be supplied to lower customers'
price sensitivity, so reducing service costs and enhancing the reputation of marketing failures (Fornell,
1992).
This can increase client loyalty, which will generate positive word-of-mouth regarding the bank's
reputation. Receiving the required degree of satisfaction, consumers will express a high level of
satisfaction, which is the first stage in managing customers to set reasonable expectations (Jones et
al..2003). Moreover, Ranaweera and Prabhu (2003) noted that if customers were progressively happy
with the company's products and services, they would be increasingly inclined to remain loyal.
According to Fecikova (2004), the key to the sustainability of an organisation or business is the
persistence of internal and external client pleasure.
Therefore, a portion of the company's success is defined by the amount of customer loyalty, which is
impacted by (driven) customer happiness (Anderson et al.. 1994; Bowen and Chen, 2001; Fornell et
al.. 1996). This is corroborated by Lovelock et al. (1998), who found that customer happiness would
result in several advantages for the company and increased customer loyalty. According to Kotler and
Susanto (2000), customer satisfaction may be described as the amount of a customer's sentiments after
comparing the actual performance or outcomes to their expectations.
If performance falls short of a customer's expectations, the consumer will be dissatisfied, however if
performance surpasses expectations, the client will be ecstatic.
Engel et al. (1990) contended that customer satisfaction is the post-service evaluation in which the
selected option meets or surpasses customer expectations. Otherwise, discontent will occur if the
outcomes do not meet expectations. According to Jamal and Naser (2002), client happiness may be
quantified utilising the following indicators: extremely satisfied, fulfils expectations, and
performance. In the era of globalisation, the expectation for corporations and banks to continue
expanding might be centred on cultivating client loyalty.
To keep loyal consumers, this motivates businesses and banks to build a competitive edge via new
initiatives and inventiveness. Oliver (1996) described customer loyalty as the commitment of
consumers to regularly buy a product or service in the future, notwithstanding events that may induce
a change in behaviour, such as the influence of other individuals or the marketing efforts of rivals.
Guiltinan et al. (1997) also discovered that happy consumers were more inclined to repurchase items
or services and even become devoted customers who would never consider switching banks.

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RATIONALE BEHIND THE STUDY
Indian banking is passing through a phase of transformation. Bank customers in India are not only
using traditional personal banking but readily adopting innovative and modern Self-Service
Technologies. In spite of the many benefits like cost reduction, increased efficiency, time saving and
more control on transactions, a large section of customers is still having psychological and behavioural
hindrances towards using these SSTs. Further, lack of digital and financial literacy has blocked the
way for adoption of these technologies. So, in background of these developments, there is promising
need to study the factors which influence the mind set of customers to adopt Self Service Technologies.
A comprehensive study inquiring the rationale, extent of use, adoption, attitude towards SSTs, its
impact on customer satisfaction and loyalty in all the three main SST channels i.e. ATM, internet
banking, mobile banking has not attempted by any previous researcher. The rationale behind choosing
the Chandigarh region is mainly its favourable environment for application of these self-service
technologies. The findings of the study will provide valuable inputs and suggestions to decision-
makers in the banking sector to formulate the practical strategies to attain the higher levels of customer
service standards.
OBJECTIVES OF THE STUDY

The objectives of the study are mentioned as under:
1. To study the demographic profile of the banking customers using technology enabled banking
services.
2. To study the level of awareness towards technology enabled banking SSTs.
3. To analyze the usage pattern of selected banking services.
4. To analyze the purpose of using Self-Service Banking services.
5. To analyze the ranking preferences of customers for diverse features of banking services.
RESEARCH METHODOLOGY
The survey was conducted in the Chandīgarh region and all those respondents who are using mobile
and internet banking, were taken into consideration. The convenience sampling method was adopted
to collect the data. The present study collected and analyzed the demographic profile of customers
using SSTs, customer’s experience and perception towards banks, customer’s level of awareness
towards technology enabled banking self-services, customer’s usage of banking services, utility of
self-service banking technologies, preference of customers towards selected public and private sector
banks based on banking services features. The Researcher has distributed more than 1000
questionnaires through google form, physical contact and interviews and have received 720
questionnaires due to pandemic conditions. Furthermore, the collected responses were undergone the
screening process and 34 questionnaires were discarded due to missing entries, or incomplete
responses. Finally, 686 questionnaires complete in all respect were kept after screening and analysed
for research.
ANALYSIS & INTERPRETATION OF DATA

This section of the paper deals with analysis and interpretation of the collected data to achieve
objectives of the study
Table 1 Demographic Profile of Respondents
Demographics of the Respondents
Cumulative Cumulative
Percent Percent
Percent Percent
Male 52 52 Education
Female 48 100 Under Graduate 22.9 22.9
Age Graduate 28.9 51.8

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Below 20 Years 18.4 18.4 Post Graduate 16.3 68.1
20-30 Years 21.1 39.5 Doctorate 11.3 79.4
30-40 Years 18.8 58.3 Others 20.6 100
40-50 Years 28.4 86.7 Income (p.m.)
More than 50 Years 13.3 100 Less than Rs 25000 15.7 15.7
Occupation Rs 25000 - Rs 40000 19.1 34.8
Business Person 19.5 19.5 Rs 40000 - Rs 55000 26.7 61.5
Salaried 33.1 52.6 Rs 55000- Rs 70000 18.1 79.6
Professionals 21.3 73.9 More than Rs 70000 20.4 100
Self Employed 26.1 100
Source: Primary Data (SPSS 21 Version)
Table 1 depicts the results of demographics of the respondents. This consist of basic variable of
respondents such as gender, age, education, occupation, and income. The table represents that the data
consists of almost equal proportion of male and female respondents, where male respondents are
slightly higher than female respondents. It is found that majority of the respondents belongs to age
group 40 to 50 years ( 28.4% ) followed by 20 to 30 years of age (21.1%), whereas 13.3% of the
respondents are older than 50 years of age, and 18.4% of the respondents are in the age group of less
than 20 years. In case of education, large chunk of people are graduate i,e 28.9% whereas 22.9% are
studying or have obtained education less than graduation. People, who are professionally qualified
constitute 20.6% in numbers followed by 16.3 % of postgraduates
The data includes 33.1% of salaried class followed by self-employed which consists of 26.1 percent,
Moreover the professionals who are providing their services as a freelancer consists of (21.3%)
followed by businessman having 19.5%of total respondents. It is further found that majority of people
are earning between Rs 40000 to Rs 50000 followed by people having income more than Rs 70000.
Although it is found that almost similar proportion of people are earning in all categories having
income slots more than Rs 25000 and 15.7% are earning less than Rs 25000.
Table 2 Customers experience and perception towards banks

Association with Bank
Frequency Percent Cumulative Percent
SBI and Associates 141 20.6 20.6
PNB and alliances 187 27.3 47.9
ICICI Bank 171 24.9 72.7
HDFC Bank 116 16.9 89.7
AXIS Bank 71 10.3 100.0
Bank Experience as Customer
Less than 3 Years Nil
3-5 years 38 5.5 5.5
5-8 years 160 23.3 28.9
8-11 Years 376 54.8 83.7
More than 11 Years 112 16.3 100.0
Reasons for visiting Bank Branch
To make deposit 232 33.8 33.8
To withdraw cash 263 38.3 72.2
To get advice on 191 27.8
100.0
investment options
Transaction Frequency
Daily 166 24.2 24.2
Bi-Weekly 137 20.0 44.2

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Weekly 191 27.8 72.0
Fortnightly 126 18.4 90.4
Monthly 66 9.6 100.0
Banking Transactions Availed
Branch Banking 86 12.5 12.5
Net Banking 227 33.1 45.6
Phone Banking 318 46.4 92.0
ATM 55 8.0 100.0
Table 2 interprets the experience and perception of customers towards banks. It is found that 47.9%
of the respondents are associated with public banks whereas rest are associated with private banks.
This shows that private banks have strong hold among customers. Almost 94% of the customers are
associated with any bank for more than 5 years whereas 70% are associated with the banks for more
than 8 years. only few customers have been associated with banks between 3 to 5 years. It is found
further that majority of the people are visiting banks either for withdrawing the money or depositing
the money only 27% visit the banks for consulting banking employees to get some advice on any
investment options. Furthermore, it is found that 24.2% of the respondents are doing transactions on
daily basis whereas 50% of the respondents are using banking services at-least once in a week and rest
are availing banking facilities once or twice in a month. Subsequently, majority of the customers are
using phone banking services (46.4%) and one third are using net-banking for their financial activities
and rest of the customers are visiting branch or ATM for their financial needs.
It is found that more than one third of the customers are having accounts with 4 banks followed by
28% have account with 5 banks and 24.3% with 3 banks. This highlights that people using multiple
banking accounts for handling any emergency in future. In addition to this, it is found that one third
of the customers are using public banks for their transactions and half of the customers are using both
private and public bank’s services whereas only 20% are found to be availing services of private banks.
This shows that people still prefer public banks and believe public banks are more secure than private
banks. The data reveals that majority of the customers are preferring public banks (53.2%) for
conducting their financial activities than private banks (29.3%) whereas 17.2% have neutral responses
and using both the banks.
Table 3 Customers usage of banking services
SELF SERVICE FACILITIES For how long you have been using the following
services?
ATM ATM
Frequenc Cumulativ Frequenc Cumulativ
Percent Percent
y e Percent y e Percent
Daily 28 4.1 4.1 3-5 years 86 12.5 12.5
Bi-
29.0 33.1 5-8 years 222 32.4 44.9
Weekly 199
Weekly 361 52.6 85.7 8-11 Years 323 47.1 92.0
More than 11
Monthly 98 14.3 100.0 55 8.0 100.0
Years
Internet banking Internet banking
Daily 30 4.4 4.4 3-5 years 209 30.5 30.5
Bi-Weekly 167 24.3 28.7 5-8 years 157 22.9 53.4
Weekly 240 35.0 63.7 8-11 Years 228 33.2 86.6
More than 11
Fortnightly 193 28.1 91.8 29 4.2 90.8
Years
Monthly 56 8.2 100.0 3-5 years 63 9.2 100.0

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Use of Kiosks Use of Kiosks
Bi-Weekly 175 25.5 25.5 3-5 years 171 24.9 24.9
Weekly 248 36.2 61.7 5-8 years 263 38.3 63.3
Fortnightly 221 32.2 93.9 8-11 Years 213 31.0 94.3
More than 11
Monthly 42 6.1 100.0 39 5.7 100.0
Years
Mobile Banking Mobile Banking
Less than 02
Daily 141 20.6 20.6 137 20.0 20.0
Years
Bi-Weekly 325 47.4 67.9 2 to 4 Years 345 50.3 70.3
Weekly 110 16.0 84.0 4-6 years 114 16.6 86.9
More than 6
Fortnightly 110 16.0 100.0 90 13.1 100.0
years
Total 686 100.0 Total 686 100.0
Table 3 reports the usage of banking services by the customers. This shows that almost 80% of the
customers are using ATM services once or twice in a week and 4.1% are using it on daily basis and
only 8% are using only once in a month. This highlights the dependency of people on ATM services.
During the survey, people said that they need to operate all their bank accounts’ ATM for withdrawing
the money to avoid fee charges on the withdrawals. Similarly, in case of internet banking, 65% are
using internet banking either on daily basis on twice in a week, whereas 28% are using it twice in a
month and 8% are using it once in a month. People believe that it is not convenience to transact all the
activities via internet such as shopping vegetables or clothes from market need cash than any internet
transfers. Therefore, they have to use ATM services more than internet banking. In case of kiosks and
mobile banking, similar pattern is followed i.e. one third are availing both the services twice in a week
and rest of the respondents are using twice or once in a month.
In case of using the services, it is found that majority of the people are using ATM services for more
than 5 years, whereas 12.5 % have started using the services in between previous 3 to 5 years. This
shows that ATM plays significant role in withdrawing money than waiting in queue within the banks.
This has assisted them with smooth financial services to fulfil their needs. During the survey, it was
found that some people use the ATM for deposit purpose also. On the other hand, in case of internet
banking, majority of the people (30.5%) have started using internet banking for less than 5 years
followed by 33.2% who are using the internet services around 10 years and only 9.2 stated that they
are using internet services for more than 11 years. Mobile banking services have been used widely in
India. It is found that majority of the respondents (70.3%) have started using M-Banking for any
financial transaction for less than 4 years whereas 16.6% have started using the services between 4 to
6 years and 13.1% of customers, who have strongly believed in their banking services are using M-
banking for more than 6 years. This shows that update technology and pandemic need have provided
such a platform for banks where maximum customers have adopted the M-banking services to
smoothen their financial transactions to fulfil their daily needs.
Table 4 Customers level of awareness towards technology enabled banking self-services
LEVEL OF AWARENESS TOWARDS TECHNOLOGY ENABLED BANKING SELF

SERVICES
Awareness about technology enabled banking self-services
I can complete banking transaction using Technology does not fail at the crucial time
technology if I had built-in help available for
assistance
Frequency Percen Cumulativ Frequenc Percent Cumulativ

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t e Percent y e Percent
SD 3 .4 .4 D 18 2.6 2.6
D 43 6.3 6.7 N 193 28.1 30.8
N 192 28.0 34.7 A 325 47.4 78.1
A 356 51.9 86.6 SA 150 21.9 100.0
SA 92 13.4 100.0
I learn & work more quickly with new It is safe to do any kind of financial business
technologies than others using Technology
SD 4 .6 .6 D 15 2.2 2.2
D 43 6.3 6.9 N 170 24.8 27.0
N 188 27.4 34.3 A 372 54.2 81.2
A 357 52.0 86.3 SA 129 18.8 100.0
SA 94 13.7 100.0
I do not need a lot of time to complete
I will always use the technology in future
banking transaction using technology
SD 1 .1 .1 N 228 33.2 35.6
D 34 5.0 5.1 A 340 49.6 85.1
N 118 17.2 22.3 SA 102 14.9 100.0
A 443 64.6 86.9
SA 90 13.1 100.0
I like the idea of Self-service technology as I I feel confident while using technology for
am not limited to regular banking hours banking Activities
SD 1 .1 .1 D 140 20.4 24.6
D 26 3.8 3.9 N 242 35.3 59.9
N 181 26.4 30.3 A 227 33.1 93.0
A 353 51.5 81.8 SA 48 7.0 100.0
SA 125 18.2 100.0
I prefer talking to a person rather than
I would recommend to my friends & relatives
working on a machine for all business
to use the technology facilities
activities
D 36 5.2 5.2 D 19 2.8 2.8
N 181 26.4 31.6 N 196 28.6 31.3
A 344 50.1 81.8 A 365 53.2 84.5
SA 125 18.2 100.0 SA 106 15.5 100.0
Total 686 100.0 Total 686 100.0
Source: Primary Data (SPSS 21 Version) (SD= Strongly disagree, D= disagree, N=Neutral,
A=agree, SA= Strongly agree)
Table 4 elaborates the results of awareness level of customers for different self-service technologies
provided by the banks to them. The results depict that majority of the customers believed that they can
complete any transaction with the help of built in banking technology whereas approximately 7% think
that all the financial transactions cannot be completed with self-service technologies. More than 75%
believe that they can easily learn and adapt the new technologies whereas rest of the people believe
that they need some training and assistance to operate new technology or updated version of any self-
service service. Almost all the people have shown their willingness to use advanced technology to
conduct their financial transactions in future because they perceived that SSTs are not restricted or
limited to time frame, they can use anytime anywhere, which is best alternative to mitigate their
emergency needs and works as backup for the emergency plans. Moreover, more than 90% believe
that technology does not fail at very crucial time and find it safe and secure to use SSTs for their
financial needs. All the respondents think that advanced SSTs are time saving and provide expedite

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solutions to their needs. Thus, safety, security and responsiveness of SSTs make the customers more
confident and encourage them to exploit SSTs to the maximum. Even more than 70% of the people
affirm that they recommend and convince their friends, relative and family members to adopt advanced
SSTs for their financial needs and can save plenty of time by not visiting banks. In some
circumstances, around 30% have indicated that they would prefer physical touch with the banking
employees over advanced technologies because they have sometimes faced some issues in conducting
and operating SSTs.
Thus, with the passage of time, people are becoming more advanced and are ready to adopt the new
technologies to fulfill their needs. People said that security assured by banks for their privacy and
promptness of the SSTs have changed their perception towards banking services. The opening of new
account can be done in less than half hour, but the traditional banking system required almost two to
three days to open an account, can deposit or withdrawal can be done at kiosk machines anytime during
day or night rather than waiting in a queue for hours and passbook printing with barcodes take less
than a min without any fail. Thus, they are ready to adopt the newly advanced system.
Table 5 Utility of Self-Service Banking Technologies
BANKING INFORMATION
General utility bill payments
Account Information (balance checking, Cumulativ
Percen
monitoring deposits, alerts on account activities) Frequency e Percent
t
No 21 3.1 3.1 No 219 31.9 31.9
Yes 665 96.9 100.0 Yes 467 68.1 100.0
Investment services (share trading,
Repayment services
personalized alerts on security prices)
No 93 13.6 13.6 No 153 22.3 22.3
Yes 593 86.4 100.0 Yes 533 77.7 100.0
Cheque book services (ordering of cheques, status Support services (complaint lodging &
of cheques, stop payment) Tracking, ATM location, credit request status
No 88 12.8 12.8 No 111 16.2 16.2
Yes 598 87.2 100.0 Yes 575 83.8 100.0
Credit /Debit card services (card requests, access
Insurance services
to card statements)
No 38 5.5 5.5 No 194 28.3 28.3
Yes 648 94.5 100.0 Yes 492 71.7 100.0
Domestic and International fund transfer Content services (loyalty related offers)
No 68 9.9 9.9 No 216 31.5 31.5
Yes 618 90.1 100.0 Yes 470 68.5 100.0
Total 686 100.0 Total 686 100.0
Table 5 represents the utility of banking services by the customers. The data consist of all those
customers who are using all the SSTs services. It is found that 96.9% are using SSTs for checking
their account balance, 87% placing a request for check book and 94.5% to check their mini statement
or monthly statements of either credit cards or bank accounts. Furthermore, around 90% of the
customers are advancing banking services for their international or national fund transfers, which
includes payment received from PayPal, overseas banks and more financial institutions. 68.1% of the
customers are using the SSTs for paying bills of their grocery items through different online
applications, 77.7% are using the SSTs for performing their investment options such as trading, share

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market, stocking, SIP and mutual funds etc., and around 83% are using SSTs for lodging any complaint
regarding anything related to their bank accounts such redeeming credit card late fee by mailing or
telephonic banking, reversing the miscellaneous or examining their installment charges and many
more. Lastly, 71,7% use the SSTs to explore insurance benefits and 68.5% for loyalty offer reward
points services availed to them through shopping. It can be concluded that the utility of banking
services has been improved a lot and people are benefitting a lot from this advanced banking system.
Table 6 Ranking preferences of customers for various banks based on their features
SBI and PNB and ICICI HDFC AXIS
Sr
Associates Alliances
No
Reasons Rank Rank Rank Rank Rank
a Locational Convenience 1 1 5 4 5
b Better Service & Friendly Staff 5 5 1 1 4
c Bank’s image 4 4 2 2 2
Employer’s insistence For Salary 6 6 4 5 3
d
A/C
Availability of Online Banking, 2 2 3 3 1
e Mobile Banking, Telebanking etc.
f Greater Spread of ATMs 3 3 7 7 7
Recommendations by friends / 8 8 8 8 8
g
relatives
h Investment Options 7 7 6 6 6
i Any other Please Specify ………. 9 9 9 9 9
Table 6 indicates the ranking preferences of customers for various features perceived by them through
SSTs of all the banks. The results indicate the comparison of largest public (SBI and PNB) and private
banks (ICICI, HDFC and AXIS) of India. The seven parameters are examined, and customers are
asked to give their preferences for every criterion and based on their preferences, the overall ranks are
assigned to all the parameters. In case of public banks, respondents have given 1 st rank to SBI, PNB
for location convenience so people are very satisfied with the accessibility to banks, the higher number
of branches is the key to their success followed by their availability of SSTs and image in the market.
However, ICICI & AXIS Banks are given 5th rank and HDFC bank is given 4th rank for locational
convenience. Although, people have placed services and staff behavior at 5th position and opening
their salary account in the bank at 6th place but overall, they have shown their satisfied behavior
towards the public banks because of improving features and advanced technology features. But people
believed that public banking staff do not convince them for more investment options such as SIP, share
market, Mutual Funds and do not encourage them to invest more into such services to earn more
money. Lastly, recommendations to friends and family members are ranked at 8th position.
In case of private banks, people are satisfied with their staff’s friendly behavior and better services
and bank’s image thus, they ranked these as 1st and 2nd position followed by their provision of SST
availability of online banking, mobile banking, telebanking etc. Public sector banks are given 4th rank
for parameter of bank image. ICICI & HDFC banks are given third rank for provision of SST whereas
Axis bank is assigned rank 1 for this feature. Public sector banks are given rank 3 for ATM spread
whereas private sector banks are assigned rank 7th for the same so private banks have limited ATMs
as compared to public banks whereas people said that private banks highly convince them to invest
into other sources or options as compared to public banks. So private banks are given 6 th rank and
public sectors banks are given 7th rank for investment options. There is no crystal ranking in feature

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like employee’s insistence for the salary account for private banks, however public banks are ranked
6th at this parameter usually due to the compulsion of employer to open salary account in public sector
banks. It is found that all the customers have given last ranks to recommendations of banks to their
near and dear ones because now a days everyone is having bank accounts.
CONCLUSION
The study observed that majority of the customers are frequently using SSTs like Online banking,
Mobile Banking, ATMS to meet their banking requirements. Mobile banking is relatively more
frequently used on bi-weekly basis as compared to ATM and Net banking. The analysis of awareness
towards technology revealed that most of the customers can complete banking transactions using
technology, they can learn & work more quickly with new technologies. Respondents stated they
prefer using SSTs as it is not limited to banking hours, it does not fail at crucial time, and they feel
confident using technology for banking activities. Almost of half of them stated they would
recommend use of technology to their friends and relatives. The survey part of utility of Self-Service
banking technology reveals that majority of people are using SSTs for general utility bill payments,
cheque book services, checking account statements for Debit/Credit card statements, domestic and
international fund transfer, investment services, checking loyalty related offers. The ranking
preferences of customers for various banks based on various features shows that bank customers have
given 1st rank to Public Sector banks (SBI & Associates, PNB and alliances) for ‘locational
convenience’. Private sector banks ranked either 4th or 5th on this feature. It may be due to the higher
presence of public sector bank branches as compared to private sector banks. Private Sector Banks
ranked either 1st and 2nd for the features i.e., ‘better service and friendly staff’ and ‘Banks Image’. Axis
bank is ranked number 1 for SSTs availability like Online banking, Mobile banking, net banking, etc.
SBI & Associates, PNB and alliances are ranked 2nd, whereas selected public sector banks given 3rd
rank by the customers. On the feature ‘Greater Spread of ATMs’ Public sector banks enjoyed higher
rank (3rd) as compared to Private Sector Banks(7th). Customers have given higher rank (6th) to private
sector banks over public sector banks (7th) to the feature ‘investment options. It is obvious that public
sector bank employees do not convince them for investment options/products like opening DMAT A/c
for trading, mutual funds, insurance etc. The feature ‘Recommendations by friends and relatives’ been
given the least preference i.e. 8th rank/position by the customers. To conclude, customer awareness
and participation is the key to success of SSTs. Some customers enjoy self-service, whereas others
prefer the service performed (i.e. by employees) entirely for them. Despite the services available via
the Internet, many customers still prefer human, high-contact service delivery rather than self-service.
Because of these differences in preferences, banks typically customize their services by offering both
automated self-service options and high-touch, human delivery options.
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OBJECTIVES OF THE STUDY

ANALYSIS & INTERPRETATION OF DATA

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Table 2 Customers experience and perception towards banks

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LEVEL OF AWARENESS TOWARDS TECHNOLOGY ENABLED BANKING SELF

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b Better Service & Friendly Staff 5 5 1 1 4

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