ADOPTION OF TECHNOLOGY IN INDIAN BANKS: ENHANCING EFFICIENCY AND CUSTOMER EXPERIENCE
Dr. Badal Rakshit
Technology plays a pivotal role in shaping a nation's progress and development. Every sector today is moving rapidly toward technological integration to enhance efficiency and performance. In particular, the banking sector in India has witnessed a remarkable transformation through the adoption of modern technologies. Innovations such as internet banking, mobile banking, ATMs and online payment systems have revolutionized banking operations, making financial services more accessible, convenient and customer-centric.
This research paper examines the evolving landscape of technology adoption in the Indian banking industry, emphasizing the major factors that influence its implementation, the challenges encountered by financial institutions and the implications for various stakeholders. Based on an extensive review of existing literature, the study analyzes the impact of regulatory reforms, customer expectations, institutional culture, data security concerns and cost-benefit dynamics on technological advancement.
The paper underscores how technology-driven innovation enhances customer satisfaction, operational productivity and regulatory compliance, while also drawing attention to persistent challenges such as cyber threats, high implementation costs and resistance to organizational change. It concludes by offering strategic insights for banks to effectively adapt to the digital era, harness technology for sustainable development and strengthen their competitive position in a rapidly evolving financial environment.
Technology plays a pivotal role in shaping a nation's progress and development. Every sector today is moving rapidly toward technological integration to enhance efficiency and performance. In parti...