An empirical study on alternative banking and Its impact on Customers Satisfaction: a case study of Public and Private Sector Banks in Satara City

Abstract

Introduction The Information and Communication Technology (ICT) has changed the operations of many businesses, and has been becoming a powerful channel for business marketing and communication. The banking industry has followed this new trend in recent years to provide better services to their customers. Alternative banking is the name suggests, is the newer method of carrying on banking operations. It includes all non-traditional means of banking (Shrotryiya, 2007) such as ATM, Internet banking, bank Automation, MICR service Core banking, credit cards, debit cards, mobile banking, EFT etc. it called as e-banking, internet banking, virtual banking also. These alternative channels have several impacts on customer perception of service quality, brand perception, perceived value and overall satisfaction including loyalty. 1 Importance of the study There are several researches conducted to focus on various problems relating to banking industry; but, very few research works conducted to address the problems and various issues relating to alternative banking services. However, some of the research projects have focused on just developmental aspects of alternative banking or e-banking. Therefore, we have tried to fill the gap in the literature and presented an empirical evidences relating to alternative banking and its impact on customers satisfaction.