Usage of the new technologies by the bank customerns of urban cooperative banks and its challenges (in greater mumbai)

Information Technology has reached to every sector of the Indian economy and banking sector has no option but to follow. With stiff competition and advances in Information Technology, the Urban Cooperative Banks are forced to upgrade their services, which need to be adopted for further profitability of the banks. As a result of this development, business policies and strategies have shifted and are identifying new avenues. The development of information and communication technology have resulted in better client satisfaction and better customer services. The present study attempts to evaluate the perspective customers of the UCBs with reference to new technological services. In addition, it also tries to assess the effectiveness of Information Technology as a strategy for development and progress of the UCBs and challenges faced by the customers in accepting the new technological services.

The UCBs have significantly contributed in the development of Greater Mumbai in the State of Maharashtra. Thus, to understand the perception of customers and challenges faced by them in adopting new technologies a primary research was conducted that involved 245 bank customers using a survey questionnaire. The data and information were collected, classified, tabulated and analyzed by using statistical tools like percentages and frequency tables. In addition, chi-square test was used to evaluate the hypotheses. The analysis results suggest that customers of UCBs in Greater Mumbai strongly believe that new technologies are important for the profitability of the banks. Moreover, it also indicates that male and female customers are equally aware about the new technological services offered by the bank. However, the awareness among the younger customers about new technological services was significantly higher.