Transformation in Banks in a Highly Competitive E-Age Through E-Services - An Empirical Study

Abstract

With globalization trends world over, it is difficult for a nation, big or small, developed or developing, to remain isolated from what is happening around. For a country like India, which is one of the most promising emerging markets, such isolation is merely impossible, particularly in the area of Information Technology. Information Technology has shrunken the world, as a result of which, time and distance have become non- entities. It has enveloped every aspect of life. In this changing scenario, the banking sector is not an exception. The concept of banking has drastically changed, where technology is the most dominating factor which has helped the banks to have mixed knowledge with innovative products/services to win the competitive market. Before this electronic era, entire businesses were managed manually, with htt1c: use of computers, but now-a-days, every transaction is done electronically through various e-channels like, ATMs, Credit/Debit Cards, Internet-Banking, Mobile-Banking, Tele-Banking, EFTs etc. which is also known as e-banking. Delivery of bank's services to a customer at his office or home by using electronic technology can be termed as e-banking. The quality, range and price of these e-services decide a bank's competitive position in the industry.