Customers’ ecstasy towards core banking solutions in the context of globalisation (A study in Dakshina Kannada District of Karnataka, India)

After Globalisation remarkable changes have taken place in the economic sector all over the world. Banking industry is the main domain which has witnessed such several challenges particularly after globalisation. Servicing the customers personally at the branches of the banks has been reduced to a large extent. With the adoption of Core Banking Solutions by the bankers, many of the branch specific functions are carried out electronically using many electronic gadgets like, computers, mobile phones, i pads, tablets etc. Modern customers are technology savvy. Bank counters are no longer the waiting place for the customers to conduct their banking transactions. Core banking technology enables them to operate their bank account from any bank or from any branch which have installed Core Banking Solutions. Gone are the days where customers are serviced manually by the staff of the banks at the banks’ counters. Now customers have powerful computers and mobile phones with internet connectivity. They can carry out their

banking transactions from anywhere even when they are on their move. In recent years, plenty of technological innovations are taking place to make banking purely “Digital”.

Globalisation has also paved the way for the entry of many foreign banks into the Indian banking field. As a result Indian banks face severe competition from foreign banks and to compete with them, creating customers’ ecstasy has become a major challenge on the part of Indian banks. Today the concept of customers’ satisfaction and customers’ delight have become the things of past and creating customers’ ecstasy (exalted joy in the minds of customers) has become a goal of the bankers. Though the adoption of Core Banking Solutions enables the Indian bankers to create customers’ ecstasy and to face competition from foreign banks effectively, certain challenges are inherent in them. This paper intends to make an attempt to understand the perceptions of customers of Dakshina Kannada District regarding the role of Core Banking Technology in creating customers’ ecstasy by meeting global challenges. The study is empirical in nature. Both Primary and Secondary data is used for the purpose of study. Primary data is collected by conducting a survey among 100 customers of Dakshina Kannada district by using a structured questionnaire. Secondary data is incorporated from journals and internet.