An Analysis of Adoption Pattern of Alternative Banking Channels by Indian Customers

With rapid developments in information technology, the way in which the banks are reaching out to customers has changed. Banks all over the world are adopting multiple channel strategies. The right combination of banking channels can be arrived at only with a proper understanding of the preferences and perceptions of the consumers regarding the various channels of banking. The current study is undertaken to investigate the banking channel usage pattern of the Indian customers. The findings of the study show an increasing trend in the usage of mobile banking as a channel of banking, especially by the people in the age group of 46 to 60 years, with balance enquiry being the most common reason for using mobile banking. Accessibility is found to be the most important factor, whereas security is observed to be the least important in affecting customer's choice of a banking channel