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*Prajeesh. P., Research Scholar The International journal of analytical and experimental modal analysis ISSN NO: 0886-9367 CUSTOMER PREFERENCES AND SATISFACTION OF VARIOUS E-BANKING SERVICES IN KERALA *Prajeesh. P., Research Scholar, **Dr. Kavitha S. Professor *, **PG & Research Department of Commerce, *, **J.J. College of Arts and Science, (Autonomous) (Affiliated to Bharathidasan University), J J Nagar, Sivapuram, Pudukkotai - 622 422 Abstract Technology-oriented delivery channels like internet banking, tele-banking, mobile banking, ATMs etc.; have created a win-win situation by extending greater convenience and numerous choices for customers while providing tremendous cost advantages to the banks. Now a day’s all the banks are providing mobile banking facilities in the state. Some of the banks are in the course of making this service accessible to their customers as fast as possible. The scope of the study is limited to a thorough analysis of the e-banking services utilized by the selected household bank customers belonging to Ernakulam District of Kerala state. The study is descriptive in nature and both primary and secondary data were used for conducting the study Inferences associated with the purposes for the customers’ bank visit divulge that the most important reason is to deposit cash or cheque followed by taking demand draft and with drawing cash and Level of awareness of middle aged and older groups are on the lower side in the case of internet banking transactions, how to use online banking, availability of mobile banking and mobile banking transactions are the major findings of the study. Keywords: Customers, E-Banking, Financial Institutions, Technology, E-Services. I. Introduction Today, banks have to lay emphasis on smaller deposits and smaller advances and develop their operating proficiency significantly. Diverse banking choices have equipped the customer. Majority of the bank customers these days do not access the branch premises for their basic transaction requirements. Transactions are done through distribution mechanisms such as ATMs, via the internet and even over the mobile. Today customers demand banking services 24/7, so, many banks have launched extended business hours such as '8 to 8' banking and 'Sunday Banking'. Customers do not wish to carry cash and this has led to the use of various forms of plastic cards such as credit cards, debit cards and smart cards. Certain banks have introduced world ATM card to guarantee that travellers across the globe are more safe and secure. Kerala is bestowed with highly sophisticated banking infrastructure. Over the course of time, the banking sector of Kerala has attained great progress with a large number of nationalized, commercial and new generation banks in its repertoire. Along with this a large number of Gramin banks have also been established within the state. In fact, there was a rise in the number of banks following the nationalization of the banks in 1969. The State Bank of India (SBI), Canara bank and Syndicate bank are the major nationalized banks in Kerala. In addition to them, private commercial Volume XI, Issue X, October/2019 Page No:2877 The International journal of analytical and experimental modal analysis ISSN NO: 0886-9367 banks like Federal bank, South Indian bank, Catholic Syrian Bank, Dhanalakshmi Bank and new generation banks like ICICI, HDFC, etc also offer excellent financial intermediary services. Furthermore there are around two thousand Primary Agricultural Credit Co-operative Banks in Kerala. Kerala boasts of a large number of banking and financial institutions. Apart from the PSUs, a plethora of leading private banks such as HDFC Bank, ICICI Bank, etc. have established a network of retail branches and ATMs for the inhabitants of the state. Along with the traditional products these offer a wide variety of financial services particularly Non-Resident Indians (NRI) services with respect to the range of Malayali Diaspora. Mutual funds, financial lending institutions and other such services are readily obtainable in the state. Keralites enjoy a high standard of living now. Its economy is escalating to greater heights. A key factor responsible for this advancement is the increasing number of NRIs in the state. Kerala's total number of emigrants rose from 1.36 million in 1998to 1.83 million in 2003 and among them, close to 90% is in Middle East. Major chunk of their savings is deposited in banks here. The non- resident deposits rose toRs.32955 crores comprising 38.42% of the total deposits of the banks in the state. As a result of the profusion of NRI deposits, the mobilization of home deposits appears to be playing second fiddle. Kerala has a prolonged history of sound banking habits. The repayment culture in Kerala is excellent matched to that of other states. The response to ATMs has been nothing short of outstanding even from rural folk and those like autorikshaw drivers. Kerala attained the status of a 'Total Banking State' in 2011 census. According to that every family in the state has at least one bank account and would be worthy for annual purpose loan up to Rs.25000. Remarkable changes have been taking place in the savings patterns of the people of Kerala. Earlier people used to be 'debt shy' i.e., they saved and bought a two wheeler or a carer a house. But now people buy first and pay Equated Monthly Instalment (EMI)’s; that is, they have turned out to be 'debt loving'. That is the key difference. While it was considered obtrusive to borrow earlier, today, there is barely anybody without a loan. Youngsters prefer to buy a vehicle immediately after getting a job. When all their important needs are realized, they start saving. As a result, banks are targeting the youth now. Traditional banks are also changing to fit into the scenario by opening some branches till 8pm, to counter the competition from new generation banks. Volume XI, Issue X, October/2019 Page No:2878 The International journal of analytical and experimental modal analysis ISSN NO: 0886-9367 Technology Based Banking Most banks, specifically the new generation banks, have incorporated themselves with the fast changing banking technology and deliver faster products to customers. It is the customer care that has induced bankers to adopt technology. For traditional banks, technology was the only downside but now they have well-nigh caught up with the new in that area. Transition period, even though tough, is inevitable. Motivated by the challenges of competition, rising customer expectations and dwindling margins, banks have been using technology to decrease cost and enhance efficiency, productivity and customer conveyance. Technology-oriented delivery channels like internet banking, tele-banking, mobile banking, ATMs etc.; have created a win-win situation by extending greater convenience and numerous choices for customers while providing tremendous cost advantages to the banks. Internet banking is a bourgeoning phenomenon in Kerala. The popularity of internet banking culture depends on the facilities presented by banks. Superior facilities can always appeal to more customers. In this respect it can always be seen that private banks are way ahead of public sector banks. ICICI bank launched internet banking in Kerala in 1997. Federal bank introduced internet banking services in 2000 through Fednet. It was the first Kerala based bank to proffer internet banking services in the state. As far as Cochin is concerned, the forerunners in offering internet banking services are the ICICI and the Federal bank. In the case of the PSBs, SBI and State Bank of Travancore (SBT) are the leading bankers. SBI delivers online banking services through Online SBI. It was operational from 2004. When compared to new generation and Kerala based banks, nationalized banks have few online banking customers. Mobile banking is the lately introduced e- banking delivery channel in the state. It is the new generation banks who are the forerunners in proffering mobile banking services. Nearly all the banks are now providing mobile banking facilities in the state. Some of the banks are in the course of making this service accessible to their customers as fast as possible. In relation to the past, customers coming to the banks in Kerala now are quite different. They anticipate quality service, respect, courtesy and class. The customer is more aware about banking, he knows about his options, he is more demanding, he is mindful of his bargaining capability. Allegiance to a specific bank is a thing of past. Expectations of different types of customers are diverse and are ever growing. The customer is more cognizant of quality facilities; they are expecting promptness, convenience at low cost. Some of the customers recognize that they can get better service from private and foreign banks. Banks proffer tangible services which alone cannot satisfy the customers, who expect meaningful intangible services, which could be Volume XI, Issue X, October/2019 Page No:2879 The International journal of analytical and experimental modal analysis ISSN NO: 0886-9367 experienced like conduct and competence of staff, pace of transactions and the ambience. When the customer experience an increasing lacuna between the expectations and experience, the result is lodging customer complaints against the banks. Although computerization has been made contributory in attaining an advanced level of integrity, liability and lucidity in their processes, banks have implemented computers essentially to ensure enhancement in the degree and quality of services proffered by them to their customers. II. Objectives of the Study The main objectives of the study are; 1. To study the impact of technology in encouraging the customers of banks in Kerala. 2. To identify the level of awareness of customers regarding various E-Banking services according to the type of bank, age, and income. 3. To identify the perception of customers towards various E-banking Services 4. To study the customer preferences of various E-Banking services and to evaluate the level of satisfaction of the customers III.
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