281

CHAPTER – VII FINDINGS, CONCLUSIONS AND SUGGESTIONS

The main purpose of this chapter is to present a brief summary of findings and

conclusions of this study and thereafter to provide certain suggestions for overcoming the

problems, being identified in this study relating to customer satisfaction towards various

I.T. based products and services of the study banks. The chapter also briefly presents the

objectives and methodology of this study.

This Study is undertaken with a broad objective of assessing the customer

satisfaction towards E-banking services and products in commercial banks with Special

References to SBI and ICICI Banks, Chennai City. However for the convenience of

analyzing the information over various chapters the study has chalked out certain specific

objectives, which are narrated below.

OBJECTIVES OF THE STUDY

1. To study the nature, growth and extent of I.T. based products and services in

the selected banks.

2. to analyse the customer preferences and satisfaction levels towards various

Information Technology based products and services of SBI and ICICI

banks;

3. to make a comparative study between SBI and ICICI banks on customer

satisfaction towards selected I.T. based products and services.

4. to analyse the demographic/ socio economic factors influencing the

customer level of satisfaction towards I.T. based products and services;

5. to examine the gaps for the various security measures in respect of the

marketing of various I.T. products by commercial banks; and finally,

6. to offer suitable suggestions for the Policy makers and Bankers.

282

HYPOTHESIS

1. Customer satisfaction does not defer on the basis of computerized services,

core banking services, ATM services, internet banking services and mobile /

SMS services.

2. There is no significant difference between SBI and ICICI banks with respect

to customer satisfaction towards I.T. based services.

3. The demographic variables (age, occupation, sex, income level, educational

qualification and type of accounts) have not influenced the customer

satisfaction towards I.T.based products and services.

RESEARCH METHODOLOGY

The methodology of the study is based on the primary data collected

through well-framed and structured questionnaires to elicit the well-considered

opinions of both SBI and ICICI bank customers who operate different type of

accounts. Simple Random Sampling method has been used to collect the responses

from the bank customers. The study has been conducted in two stages, with a

preliminary pilot study followed by the main study.

Study Area and Period

The study has been conducted among the customers of State Bank of

India and ICICI bank having their branches in Chennai city. The pilot study is

conducted during the period 1st July to 31st July 2012 while the main study was

conducted during the period 15th August to 31st October 2012.

283

Sampling Technique

The personal judgment method is employed for the selection of banks,

where two banks are chosen for the study. Each of the SBI and ICICI banks has

different number of branches in Chennai City. Therefore, care was taken to ensure

selection of customers from each bank in a fairly proportionate manner. Simple

Random Sampling method has been used to select the respondents from the bank

customers. The study has been conducted in two stages, with a preliminary pilot

study followed by the main study.

Pilot Study

Questionnaire to Bank Customers

The pilot study is completed with the distribution of the questionnaire to

50 customers belonging to different branches of SBI and ICICI bank. The

responses from the customers to the statements in the questionnaire exhibited

Cron-bach alpha value 0.901, and hence it is statistically significant to identify the

bank customers’ perceptions on the selected technological banking services. The

pilot study indicated that the customers are finding a few technical natured

questions, difficult to comprehend and give their responses to them. Hence, these

questions are removed to prepare a fully refined questionnaire for the main study.

284

Sampling Procedure

There are a total 98 number of branches existing for both SBI and ICICI banks in

Chennai city during the study period. Out of the 98 branches 53 branches are from

the SBI and the remaining 45 branches belong to the ICICI. 1/3 of the total

branches are taken in to the consideration for the study with help of Simple

random sampling method.

TABLE 2.1

Table 2.1reveals that total numbers of 59,898 customers are availing E-

banking services from the branches of both SBI and ICICI banks considered for

the Study. Based on the Pilot study results 600 questionnaires were prepared. This

figure represents 1% of the total universe.

In the second stage the 600 questionnaires were equally distributed to the

customers of SBI and ICICI bank. The number of responses collected after

consistent follow up was 575. The remaining 25 customers failed to return their

filled in questionnaires. Out of these 575, only 546 are found to be totally in order,

suitable for data analysis work. Out of 546, 267 responses are obtained from SBI

and remaining 279 from ICICI bank. Therefore, the exact sample size for this

study collected through the questionnaire is 546.

BANKS

TOTAL BRANCHES EXISTING IN

CHENNAI CITY DURING THE

STUDY PERIOD

BRANCHES TAKEN INTO

CONSIDERATION FOR THE STUDY

No. OF CUTOMERS AVIALING

E- BANIKG SERVICES FROM THE BRANCHES CONSIDERED FOR THE

STUDY SBI

53

17

29,567

ICICI

45

17 30,331

TOTAL

98

34

59,898

285

Questionnaire design and scale development

After completing the review of literature related to the study,

questionnaires has been drafted to bank customers on the selected technology-

driven services soliciting their responses in three different scales.

The first scale is the Bipolar scale (e.g. Yes / No type), the second one is

multiple choice type, the third one is statements in Likert's 5-point scale. Also, a

questionnaire is designed with five major divisions, each division containing a

mixture of different types of questions depending upon the responses required

from bank customers and on the selected technology-driven services soliciting

their responses in two different scales. The first scale is Bipolar scale (e.g. Yes/No

type), and the second one is statements in Likert's 5-point scale.

DATA ANALYSIS

The primary data collected through the questionnaires were analysed

using the SPSS V-15 (Statistical Package for Social Sciences) computer packages.

The statistical tools used for data analysis based on the data enumerated from the

questionnaires are as follows:

1. One sample t-test has been exploited to elicit the opinion of customers

on various aspects of technology-driven services offered by SBI and

ICICI bank.

2. Percentage Analysis has been used to establish the contribution of

variables in both the optional and bi-polar type questions raised in the

questionnaires.

286

3. Paired normalised t-test has been applied to compare the SBI and

ICICI bank customers’ opinions on the desirable and available level of

service quality in respect of the selected technological services.

4. One-way analysis of variance (ANOVA) has been applied to

determine the influence of demographic variables on different

perceptions of customers on the technological services studied.

5. Chi-square test has been applied to determine the existence/non-

existence of association between the various demographic variables and

the availment, frequency of preference, levels of satisfaction derived

from the technology-driven services taken up for the study.

6. Factor Analysis by principal component method has been applied to

reduce the number of suggestions made by ATM customers for

improving the services into three major meaningful factors.

7. K-Means Cluster Analysis and Discriminant Analysis have been

applied to group the bank customers into three different clusters based

on the levels of satisfaction derived by them from ATM, Internet,

Tele/Mobile/SMS banking services.

8. Multiple Regression Analysis has been applied to estimate the

influence of SBI and ICICI bank customer’s behaviour and opinions on

the level of satisfaction derived by them from the various facilities

offered by ATM/Internet banking services.

287

LIMITATIONS OF THE STUDY

First the limitation related to this study is that the study is conducted

only on two sample banks, so the results cannot be generalized.

Secondly, the study has considered only the influence of I.T. based

products and services on customer satisfaction, but not on the loyalty of customers

(Customers behavioral intentions towards the bank in the future).

Third, the results obtained through the study relate to only those

respondents, chosen through simple random sampling and since the profile of the

sample is not a model of actual market share of different public and private sector

banks in India.

Fourth, the study is conducted mainly with the help of primary data,

which suffers from biased-ness and lack of interest among the sample customers.

Fifth the study is unable to address all possible product classes and

possible service classes.

288

Findings of the study:

It is found that all the customers of both the banks use the SB account and it

is also found that 81.6% of customers in SBI and 79.9% customers in

ICICI bank hold fixed deposit account.

It is identified that 76% of customers in ICICI bank and 73.4% from SBI

are in use of the current account. Further it is found that 89.6% of

customers in ICICI bank and 88% of customers in SBI operate the

recurring deposit account.

It is ascertained that the OD account is operated by 62.4% of customers in

SBI and 60.3% in ICICI bank. 74.2% of customers avail loan facilities

from ICICI bank and only 71.5% of the customers avail loan from SBI.

There is a greater percentage of customers (84.5) who use RD account in

ICICI bank and in SBI 82.4 percentage of customers use the RD account

which is slightly less than ICICI.

Annuity deposit scheme is availed by 88.4% of customers in SBI and

86.4% of customers are in pursuance of the same scheme in ICICI bank.

The flexi deposit scheme is operated by 68.8% of customers in ICICI bank

and 68.5% in SBI which is slightly less.

The operation of current account customers (64.4%) are more in SBI than

the ICICI bank where the customers are only 55.2%.

Similarly the premium savings account is operated by 71.9% of customers

in SBI and in ICICI bank the customers who operate the premium savings

account are 68.8%.

Regarding the saving plus account, in ICICI bank 51.3% of customers

make use of this account and in SBI only 46.4% of customers operate this

account.

289

The rent plus scheme is availed by 39.8% of customers in ICICI bank and

33.7% of customers in SBI bank.

Mediplus scheme is obtained by 56.6% of customers in ICICI bank and

only 45.3% obtain this scheme in SBI bank.

The basic banking of Nofrills account is operated by 73.8% of customers in

ICICI bank and 67.7% of customers in SBI bank

In SBI 65.2% of customers are focussed towards the service of yuva

savings account and in ICICI bank 61.6% of the customers avail the same

service.

All the customers of SBI and ICICI bank (100%) obtain the service of life

plus senior citizen scheme, young stars savings account, escrow account,

salary account, money multiplier facility, demat account and the trading

account.

The credit card holders in ICICI bank are 65.2% and in SBI the customers

who use the Credit Card are 59.2%.

ATM cum Debit Card users in ICICI bank are 89.2% and in SBI the

customers who use the ATM cum debit card are 87.6%.

The cash + international card service is availed by 88.4% of customers in

SBI and in ICICI such customers are 87.5%.

The travel card service is obtained by 86.5% customers in SBI and in ICICI

bank the users of such card are 79.2%.

The international ATM cum debit card users are 85.4% in SBI and in ICICI

bank such card users are 79.9%.

Gold international debit card is obtained by 80.5% of customers in SBI and

in ICICI bank the customers who obtain such type of cards are 76.7%.

290

In SBI 77.9% of the customers avail the service of smart card and in ICICI

bank the customers who obtain the similar card service is to the extent of

77.8%.

80.14% of the customers make use of the gift card service of SBI and in

ICICI bank the gift card users are 86%.

The yuva card service facilitates 82% of SBI customers and 82.4% of

ICICI bank customers.

In SBI 82.8% of customers obtain the service of EZ-pay card and in ICICI

bank 82.1% of customers possess the service of Ez-pay card.

In SBI bank 69.3% of customers are associated with the service of

corporate cards and in ICICI bank 78% of customers are in favour of the

service of corporate cards.

The prepaid card service is provided to 84.6% of customers in SBI and in

ICICI 83.2% of customers avail the service of prepaid cards.

In SBI 91.8% of customers avail the benefit of Internet banking services

and 88.2% of ICICI bank customers procure the services of Internet

banking.

In SBI 84.6% of customers are in favour of On-line trading services and

87.5% of customers of ICICI bank make use of the On-line trading

services.

The mobile banking services are available to 88% of customers in SBI and

88.9% of customers in ICICI bank.

The Demat account service is provided to 96.6% of customers in SBI and

96.3% of customers in ICICI bank.

Trading through On-line is carried out by 79.9% of customers in SBI and

89.2% of customers in ICICI bank.

291

The service availed through the device ATM is obtained by 47.2%

customers in SBI and 57.3% of customers in ICICI bank.

In SBI 53.6% of customers receive an advice regarding the investment

portfolio and in ICICI bank 52.7% of customers receive the investment

services.

45.7% of customers make use of the cash management services provided

by the SBI and in ICICI bank the similar service is acquired by 51.3% of

customers.

The benefit of broking service is availed by 78.7% of customers in SBI and

in ICICI bank 81.4% of customers are benefited to carryout their

transactions through the broking services.

In SBI 66.3% of customers avail the anywhere and anytime services

through core banking and in ICICI bank 57.7% of customers avail the

high-tech service of core banking.

The facility of real time gross settlement and Net Electronic Fund Transfer

process are useful to 62.9% customers in SBI and in ICICI bank 53.4%

customers avail the utility of Real Time Gross Settlement and Net

Electronic Fund Transfer.

The supplementary process of E-invest system is operated by 47.9% of

customers in SBI. 46.6% of customers in ICICI bank prefer the e-invest

system to invest their savings in the initial public offer.

In SBI bank 65.9% of the customers are aware of the usage of MICR

technology and in ICICI bank 65.5% of the customers obtain the usage of

such services.

83.5% of customers of SBI avail the RBIF (Electronic Fund Transfer

through RBI) services. In ICICI bank such service is availed by 81% of

customers.

292

The E-Rail facility is availed by 81.3% of customers in SBI and in ICICI

bank 85.3% customers are privileged to avail the service of E-Rail.

The E-payment system service is availed by 84.6% customers in SBI and

in ICICI bank such service is availed by 83.9% customers.

In SBI 82.4% of customers are facilitated towards the services of ECS and

in ICICI bank 81.7% of customers are benefited towards such service.

The mobile phone banking service is carried out by 91.4% customers in

SBI and 88.9% of customers in ICICI bank.

SMS service users are 86.9% of customers in SBI and 91.4% of customers

avail such service in ICICI bank

The foreign inward remittance service is availed by 89.5% of customers in

SBI and 86.7% of customers avail such service in ICICI bank.

The remittance of safe deposit lockers rent facility is availed by 81.6% of

customers in SBI and in ICICI bank such facility is availed by 77.8%.

In SBI 87.3% of customers use gift cheques and in ICICI bank 86% of

customers make use of such services.

Regarding NRI services 79.8% of customers in SBI avail this service and

in ICICI bank such service is availed by 84.6% of customers.

The utility bills payment is the highly contributed factor towards the

satisfaction of customers in SBI and ICICI banks.

It is found that the customers of both SBI and ICICI banks are highly

satisfied towards the preparation of vouchers related to the payments and

receipts. There is a positive relationship between the satisfaction of ICICI

customers and the electronic funds transfer service related to the centralized

funds management system.

293

It is evident that the customers of ICICI are strongly satisfied towards the

service related to the access of transactions from any branch of the core

banking services.

The customers of both SBI and ICICI are more satisfied towards the

quickness and timely replacement of the ATM card when lost. Further it is

observed that the customers of ICICI bank are extremely satisfied with the

factor of PIN services provided by the bank.

Internet banking service generates greater satisfaction to the customers of

SBI and ICICI towards the information provided about account security and

regarding the direct customer control on the international movement of

their funds, EZ-trade, Demand draft request, remittance to PPF account, the

submission of On-line request for the stop-payment of cheque, cheque book

replenishment and for demand draft and pay order. Further it is observed

that the customers of SBI are much satisfied towards the payment of bills

through the electronic banking.

There is a positive relationship between the satisfaction of customers

related to SBI and ICICI banks and the informative service provided

through the Automatic Voice Respond System related to SMS / Mobile

service of SBI and ICICI banks.

The customers of SBI and ICICI are highly satisfied towards the attitude of

employees willing to help the customers. The findings of the study

proposes that the SBI customers are much satisfied towards the adoption of

technology in the bank and their promptness in answering the customer e-

mail

40.109% of the customers are grouped as normative in nature towards the

services provided under payment system. 31.135% of customers are highly

satisfied as they are assisted by web to pay their utility bills under the

294

payment system provided by the banks and 28.75% of customers are highly

felicitated towards the entire service provided by the banks under the

payment system.

65.750% of customers who are mediocre in nature towards the settlement

of funds, 29.853% of customers are the expectant of technology based

services and 4.395% of customers are discontented towards the settlement

system adopted in the banks.

55.49% of customers are routine in their activities as they are moderately

satisfied towards the normal services available under the centralized funds

management system. Whereas 32.783% of customers are highly privileged

towards the electronic funds transfer services and only 11.72% of

customers are pessimistic in nature as they are not happy with the service

of the transfer of funds from one bank to another bank.

49.08% of customers have reached the saturated level of satisfaction

towards the Tele banking services. 26.556% customers are unanswered

customers as they are not satisfied towards the telephone banking services

provided by the banks. 24.35% customers are considered as information

seekers as they are not happy with the securing message towards funds

transfer details.

66.38% of customers are hi-technology oriented, 29.12% customers are

unaccomplished towards the e-mail management service and 4.578% of

customers are non co-operative towards the service provided to view the

account details.

53.11% are safety insisted, 42.3% are systematic in receiving the account

statements and 4.578% customers are reluctant towards the usage of

biometric ATMs.

47.820% customers are identified as globalised access preferred

customers, 47.802% of customers are proved as liberalized, towards the

295

operation of accounts and 4.395% of customers are sensitive type as they

are against the parallel working of different issues by the banks.

38.71% of customers are noticed as panic in nature towards the credit card

payments through ATM 33.02% customers are tech savy as they are

satisfied towards the replacement procedure of lost / damaged ATM card.

The remaining 28.26% customers are acceptable in nature towards the

existing validity of the ATM card.

It is found from the cluster analysis that 35.5% of customers are self

operative, as they prefer to control their international movement of funds

without an intermediator. 32.967% of customers are found as unattractive

customers as they are not happy with the Demat account services provided

by the banks. But 32.967% of customers are factual expectants towards

the receipt of the information provided about the account security.

46.70% of customers are mcommerce customers, as they prefer to use the

Mobile / SMS service towards their banking transactions. 35.71% of

customers are communicative customers, since they prefer to transfer the

money between two accounts by entering communication with the banks.

The remaining 17.582% of customers are suspicious in nature, as they are

not impressed towards the service to view the balance of credit card over

mobile.

67.399% of customers feel comfortable towards the service of answering e-

mail by the banks and they are identified as delighted customers towards

such service. 26.373% of customers are not satisfied towards the

employees’ attitude to solve the customers’ complaints. Such customers are

always in search, for the improvement in banking services. They are

considered as improvement seekers. The remaining 6.227% customers

are considered as fulfilled customers, since they are highly comfortable

with the overall performance of the banks.

296

The association analysis reveals that the current account maintains a very

deep association with the information technology based products and

services of internet system, internet banking, mobile / SMS services and the

overall satisfaction.

It is revealed that the annuity deposit account is partially associated with

the ATM services of SBI and ICICI bank.

It is understood from the association analysis, that the mediplus scheme is

closely associated with the information technology based products and

services of centralized funds management system, internet system, internet

banking, mobile / SMS service and the overall satisfaction.

The study further states that the basic banking no frills account is partially

associated with the mobile / SMS services and the overall satisfaction

related to the services provided by SBI and ICICI bank.

It is observed that the international ATM cum Debit Card is highly

associated with information technology based products and services of

settlement system, ATM services, internet banking and Mobile / SMS

services.

It is also found that the ATM cum debit card is partially associated with the

Internet banking services offered by the banks namely SBI and ICICI.

The result of the association analysis appears that the prepaid card is

intensively associated with the information technology based products and

services of Debit Card management solution, ATM services, Internet

banking services, Mobile / SMS service and the overall satisfaction.

However the vishwa yatra foreign travel card has the least association with

the mobile / SMS service provided by SBI and ICICI banks

297

From the association analysis, it is also found that the trading service is

well associated with the information technology based products and

services of ATM services, internet banking, Mobile / SMS and the overall

satisfaction. It is stated that the mobile banking service is partially

associated with Internet banking offered by SBI and ICICI bank.

The findings indicate, that the E-invest service is strongly associated with

the information technology based products and services of structured

financial messaging solutions, ATM services, internet banking, Mobile /

SMS service and the overall satisfaction. While, the broking service is

distinctively associated with the internet banking, the investment service is

partially associated with the ATM services of SBI and ICICI bank.

The association analysis reveals that the RBIEFT (Electronic Funds

Transfer through Reserve Bank of India between branches) maintains a

deep relationship with the information technology based products and

services of Internet system, Debit Card management solution and overall

satisfaction.

The study reveals E-payment is partially associated with the overall

satisfaction and ECS service is associated only with the Mobile / SMS

services of SBI and ICICI bank.

The result of the association analysis explores, that the NRI service is

extremely associated with the information technology based products and

services of payment system, centralized funds management system, internet

banking services, mobile / SMS services and the overall satisfaction.

The result reveals that the foreign inward remittance maintains a partial

relationship with the overall satisfaction and the tele / mobile banking

298

service is associated only with the mobile / SMS service of SBI and ICICI

banks.

The Non-para metric chi-square value reveals that the customers of SBI and

ICICI bank have a similar perception towards the services provided through

the payment system. Regarding the settlement system technicalities

adopted, in SBI and ICICI bank, it is found that the customers of these two

banks have different opinions. It can be further concluded that the

customers of SBI and ICICI bank have different perceptions towards the

effect of the centralized funds management system adopted by the banks.

It is also found, that the customer’s opinion towards the services provided

through structured financial message system, internet system and debit card

management solutions adopted in the SBI and ICICI bank are similar.

The result reveals that the customers of SBI and ICICI bank differ in their

perception towards the services provided through core banking and the

ATM of the banks.

It is observed that the customers of SBI and ICICI bank do not differ in

their opinion towards the performance of Internet banking and Mobile /

SMS services of the banks.

The customers of SBI and ICICI bank differ in their perception towards the

technology infrastructure deployed in their banks. Based on this fact, it is

reported that the customers of SBI and ICICI bank differ in their overall

satisfaction level towards the information technology, based products and

services offered by the banks.

Research has shown that a maximum of 44.2% of customers in SBI and

42.7% of customers in ICICI bank belong to the age group of 41-50. It is

further assessed that a maximum of 75.6% of SBI customers and 71.6% of

ICICI bank customers belong to the male category. However the

299

educational qualification of the customers reveal that the maximum of

55.4% of customers in SBI and a maximum of 49.1% of customers in ICICI

bank are graduates.

The occupational or employment status reveals that a maximum of 31.5%

of customers in SBI and a maximum of 30.5% of customers in ICICI bank

belong to the business class. Further investigation discloses that a

maximum of 69.3% of customers in SBI and a maximum of 72.4% of

customers in ICICI bank are married. The next dimension of the spouse

status of the customers reveal that a maximum of the customers whose

spouses are employed are 66.6% in SBI and only 22.2% in ICICI bank

which is much lower to an association of customers with SBI.

The study reveals that a maximum of 51.3% of customers of SBI have four

dependents and in ICICI bank a maximum of 42.7% of customers fall in the

same category.

The income level dimension helps to obtain an information that a maximum

of 47.2% of customers in SBI belong to the income level of above

Rs.3,00,000 and in ICICI bank a maximum of 45.9% customers belong to

the income level of less than Rs.1,00,000.

An examination of the analysis reveals that the maximum of 49.4% of

customers use the services of SBI frequently and the maximum of 48% of

customers frequently use the services of ICICI bank. It is found from the

result that both the banks provide their services frequently to more or less,

to equal number of customers. As per as the mode of usage of service is

concerned in SBI a maximum of 67.8% customers and in ICICI bank

65.6% of customers prefer the Net banking services.

Research identified through one way analysis that the customers who are in

the age group of 21-30 years are satisfied with the settlement system.

300

The customers who belong to the age group of 41-50 are satisfied towards

the structured financial message system and it is also observed that the

customers who fall in the category of above 50 years are satisfied with the

ATM services and the overall services provided by the banks.

The second independent variable gender discloses the fact that the female

gender customers are much satisfied towards the Internet system and the

male customers of the banks are satisfied with the overall information

technology based services provided by SBI and ICICI.

The analysis ascertains that the customers who are with the graduate

qualification, satisfied with the Internet system adopted in the banks and the

customers with a school level qualification are satisfied with the Internet

banking service offered by the banks namely SBI and ICICI banks.

The next socio-economic characteristic of the employment status confirms

that the retired customers are satisfied with the payment system applied in

the banks. The professional status customers are satisfied with the Debit

Card Management Solutions and the Internet banking service provided by

SBI and ICICI.

It is found that the married customers are satisfied with the settlement

system and Internet banking system adopted in the respective banks of SBI

and ICICI. They are also satisfied towards the overall information

technology based services provided by the banks.

It is observed that the customers whose spouse are unemployed satisfied

with the centralized funds management system and core banking services

provided by the banks.

It is observed that the customers who have about five dependents to be

taken care of are satisfied with the Internet system and the overall services

provided by SBI and ICICI banks.

301

An examination of analysis reveals that the customers with an income of

Rs.1,00,000 – 3,00,000 are satisfied with the structured financial message

system, Internet system adopted in the banks and also towards the services

provided by the banks through the Core banking and ATM.

The outcome of the research discloses that the payment system, settlement

system and the centralized funds management system of information

technology based services are significantly correlated with the overall

satisfaction of the customers of SBI and ICICI banks.

Research states that the overall satisfaction of the customers of SBI and

ICICI banks are closely related to the information technology services of

structured financial messaging solution, Internet system and debit card

management solution applied in the SBI and ICICI banks.

The present study identifies that the overall satisfaction of the customers of

SBI and ICICI are significantly related with the information technology

based services of core banking, ATM and Internet banking provided by the

banks.

It is concluded that the SMS / Mobile service and the overall information

technology based services are significantly correlated with the overall

satisfaction of the customers of SBI and ICICI banks.

It is found that the information technology based services of payment

system, debit card management system, ATM services, internet banking

and mobile / SMS services of SBI and ICICI banks towards their customers

do not differ in providing satisfaction from the customers perception.

It is also ascertained that the overall services based on the information

technology, provided by SBI and ICICI banks to their customers maintain

the same level of satisfaction.

302

It is found that SBI and ICICI banks differ in offering satisfaction level to

their customers with respect to their settlement system. In particular the

ICICI bank customers reached the good level of satisfaction on the

settlement system than the SBI customers.

It is examined that the ICICI and SBI banks vary in providing satisfaction

level to their customers towards the services offered through the centralized

funds management system. In specific the ICICI bank customers attained a

better level of satisfaction on the centralized funds management system

than the SBI customers.

It is ascertained that both SBI and ICICI banks differ in delivering the

satisfaction level to their customers related to the structured financial

messaging solutions. In particular the ICICI bank customers obtained good

level of satisfaction than the SBI customers.

It is identified that SBI and ICICI banks differ in their contribution towards

the satisfaction level of their customers on the services provided through

the Internet system. Especially ICICI bank provides a good level of

satisfaction to their customers than the SBI’s contribution to their

customers on the same.

It is found that ICICI and SBI differ in giving satisfaction level to their

customers with respect to the core banking services. In particular the ICICI

bank customers attained the good level of satisfaction on the core banking

services than the SBI customers.

It is ascertained that the ICICI bank and SBI do not differ in providing the

satisfaction level to their customers over the information technology based

services of payment system, Debit Card Management System, ATM

services, Internet banking and Mobile / SMS services of SBI and ICICI

banks.

303

The present study further concluded that both SBI and ICICI banks do not

differ in contributing the satisfaction level to their customers towards the

overall services provided by them.

SUGGESTIONS

The banks must play an effective role to satisfy the customers’ demands

while marketing their products and services. Banks must commit to provide the

best possible services to their customers. Given below are some suggestions to

improve the customer services.

In the satisfaction level, the ICICI bank offered good technological

innovations to their customers: Therefore the public sector banks like SBI

must update the customer friendly innovative technologies to offer more

level of satisfaction.

The customers of both SBI and ICICI banks are not much aware of the

availability and usage of certain products like Savings plus and Rent plus

scheme. Mediplus scheme and Basic banking – no frills account. Hence it

is suggested that the banks should develop new ways of working to

improve efficiency in marketing. Banks must adopt customer segmentation,

which will help in customizing their product portfolio well.

Results reveal that less than 50% of customers have an access to the

e-invest system provided by SBI and ICICI banks. It is suggested that both

SBI and ICICI banks must move to offer advance level of complete internet

banking with full functionality and security to increase the level of

satisfaction of customers, who can securely move money to and from

account on line.

304

Based on the fact obtained that ICICI bank customers satisfaction level is

higher than the SBI customers towards the services of access to transaction

from any branch under core service. It is suggested that the SBI can

improve their customer’s level of satisfaction through the implementation

of the well established software and effective organizational set up.

It is suggested that both SBI and ICICI banks should dramatically improve

their ECS mechanism to increase the level of satisfaction of customers

towards the services provided under settlement system and centralized

funds management system.

To increase the customers level of satisfaction towards the credit card

payment through the ATM, the banks must make effective changes in their

technological set up to ensure safety and availability of data related to their

payments.

Both the banks must provide relevant facts about their information

technology based products and services to create awareness among the

customers.

SBI and ICICI banks can further launch a wide innovative domestic and

international information technology based banking products and services

to facilitate trade investment, gross-border business and foreign exchange

services.

The current account holders’ relationship with the SBI and ICICI is only

64.4% and 55.2%. It is suggested that both SBI and ICICI can attract the

business class through the careful strategic market plans. They could create

awareness and be more flexible towards the needs and requirements of the

customers to operate the account. The banks motive should be satisfied the

customers rather than concentrating on promotion of their products and

services alone.

305

All the technology based offerings by SBI and ICICI banks in the major

towns and cities can also reach the rural population due to a substantial

growth of networking possibilities in existence.

Research suggests that the financial services and the products offered over

information technology by the banks should be simple and easy for the

customers to understand. Those products and services should not be a

challenge for those who have to choose among them.

Customer grievances should be redressed speedily and customers’

satisfaction should always be the top priority.

Banks must exercise sufficient efforts to the collection of information about

their clients, their situation and needs.

Banks should conduct a periodical survey to understand the customers’

views regarding the simplicity and easy understanding of the operations of

their websites and other e-banking institutions.

By refocusing investment on improving the sites basic functionality, the

banks can solve the problems like security risk, operational risk and their

complaints of the customers.

It is suggested that for smooth and systematic functioning the banks should

adopt a due diligence and systematic KYC norms.

To facilitate the customers banks should provide more Off- site ATM

device.

Based on the specific needs of different customers, banks can provide

suitable package of service to them

Most of the banking organizations concentrate only on the core services,

but not on the peripheral services. It is suggested that both SBI and ICICI

banks have to make sincere efforts to enrich the peripheral services also to

maintain the level of satisfaction among the customers.

306

To increase the customers’ level of satisfaction, it is suggested that the

banks must ensure and adopt a properly designed and well-operated

automated call centres to eliminate errors in call handling, problems with

the website and problems with the net works caused through phone banking

to their customers.

In order to ensure Any Time Money as reality, it is suggested that the SBI

andICICI banks must take an effort to provide uninterrupted services to

their customers by deploying solar panel – based ATM’s or any suitable

ATM panel supported with high power supply device even during a power

cut.

To mitigate and reduce the technological risks both SBI and ICICI

Should develop strong co-operation with the members of the user

community.

Security for banking transactions is a threat to Online banking, so perfect

network security software should be created and to avoid hacking and

theft of confidential information regarding the banking transactions of the

customers.

Statistics show that private banks are compatible to the choice of customers

on using online banking services. The nationalized banks should also come

forward to provide comfortable banking services to the customers and gain

their confidence.

Costs on Online banking system should be reduced and should be to the

reached to the common man.

Customers should be imparted proper information and training on utilizing

the services of E-banking or online banking.

ATMs should be installed at locations where conveyance is available and at

comfortable places.

307

Care should be taken that ATMs should work properly and should be kept in

condition. Further, proper care should be taken for the server should not get

down and avoid waiting of customers.

Customers should be made complete aware of the operational part of each

channel and their transactional facilities.

Banks should choose perfect choice of technology, sufficient control process

and appropriate system design to provide perfect and comfortable e-banking

services to customers and avoid problem. So that financial loss, lots of brand

image and goodwill not be affected.

Since many customers of the study Banks are not comfortable with online

portals, security is necessarily and immediately to be improved to avoid the

risk of unauthorized access of key information of bank account.

Certain other problems related to technology, systems design and control

process should be rectified. These should not be lagging. A perfect, exact and

apt technology with sufficient control process beside safe and Perfect system

design should adopted. Then only people feel comfortable with online banking.

Wrong Selection of technology leads to financial loss and it damages the

prestige, image and good will of the bank.

The crimes including hacking, counterfeiting of currency and fraud or illegal

gain, which are made possible with the creation of Zombie computers should

be rigorously prevented.

Adequate information relating to hidden cost should be provided to the

customers.

Banks in general have been suggesting their customers to use two different

passwords. One for mails, work and other important access and the other for

routine purposes such as subscribing to Sites, etc.

308

If these measures are taken customers feel more comfortable and utilize e-

banking services and the banking transactions will be made feasible and even

the bank officials feel comfortable to provide good services to the customers.

The government must take steps to monitor and curtail E- Banking Frauds.

CONCLUSION

The public and private sector banks are providing a vital distribution

channel of various products and services. Delivery channels are meant to reach

out to the clients. The effect of globalization significantly proved that the

adoption of technology to improve the customer service productivity and

operational efficiency of banks are mainly to impress the customers. In India both

public and private sector banks have introduced many new techniques to

modernize and computerize their operations. The public and private sector banks

are able to offer moderate to high level of satisfaction to their customers with

respect to the information technology based products and services. The service

quality of information technology based products and services, drifts towards the

maximum level of satisfaction in two types of banks. The customers’

demographic background and professional background are the crucial factors to

evaluate the need of recognition of the banking services as well as to express their

level of satisfaction.

Banks have also installed exclusive data communication network and

they have become the members of the Society for World Wide Inter-Bank

Financial Telecommunications (SWIFT) to establish connection with their own

branches and with other bank computers net work, both nationally and

internationally. In this context it is significant to say that both the banks have to

309

introduce a sound information technology based products and services or schemes

with the help of professional excellence. It is further insisted that the banks have

to be well aware of the changing needs and requirements of almost all the

segments of customers while developing a package or while innovating a scheme

to satisfy their interest.

SOCIAL RELEVANCE

Customer services through information technology based innovative

technologies actually increased the efficiency of our service system of the society.

It reduces unnecessary time exploitment, flaws in the services and ensures

convenience to the customers. This shows the potential society, which is able to

meet out future challenges and inconvenience caused by the population explosion.

The information technology based products and services are able to expand the

domain with perfect service quality and convenient services to their customers.

This helps to build a disciplined and innovative social movement in the high level

of mental gratification.

The liberalization and globalization phenomenon became necessary for

day-to-day life in every society of the world. The implementation of the

phenomenon requires hi-technology at every avenue of the products and services.

In this context, the information technology based products and services in the

banking sector make the customers to realize need for such services and its

application to empower all the people in the civilized state.

310

SCOPE FOR FURTHER RESEARCH

The following research work can be carried out as a consequence of the

present research conducted.

Future research can be examined on a wider sample extending to more number

of banks.

The service marketers like banks can carry out their assessment towards their

target market, not only based on the needs and wants of the customers but also

considering their psychological factors.

Further studies can be made towards all the possible service classes.

An extended research work can be followed to study the customer relationship

management with the bank by the usage of technology in the delivery of

products and services also.

A detail study can be carried out to identify the Information Communication

Technology (ICT) risks involved in the delivery of products and services.

------