Digitization: Road ahead forbanking industry

Organizations all over the world are trying to go green in order to reduce their carbon footprint and the same is true for banks and financial institutions. Green banking is fast emerging as one of the cornerstones of digital transformation. This study highlights the importance of paperless banking from the perspective of both customers and the financial institutions and presents a transformational approach to paperless banking operations, it focuses on how digital maturity involving implementation of Artificial Intelligence (AI) & Chatbots for better customer experience have become the need of the hour for public sector banks in order to give cut-throat competition to private banks. The study also highlights the importance of digitization at every touchpoint which can enhance the customer experience and alsoaddresses an important issue of older generation not being comfortable using digital options in contrast to millenials or Gen Z.