Diffusion of Technology in Banking Services: A Comparative Study of SBI & HDFC Bank

Abstract

Technology has made banking more convenient, secure and personalized. Due to technology customers can now make transactions from anywhere and at any time using a mobile device or computer. Customers expectations of banking have significantly increased as banks strive for digitalization, and the pandemic has accelerated this trend. Hence, it is thought that the use of off-branch digital banking, as opposed to traditional banking, will be crucial to the expansion of the banking industry. This paper’s objective is to analyze the level of satisfaction in terms of technology uses among SBI and HDFC bank customers in Punjab. As the researcher has to develop symmetry for comparative study a sample size of 400 customers (200 from each SBI & HDFC bank), was planned to be taken for the study with the help of pre-designed questionnaire based upon, Fred Davis created the technology acceptance model in 1989. So the constructs from the technology acceptance model (TAM) are taken into consideration in this study. Surveys were used to gather data and factor analysis was used to examine the results. According to the findings, customers of both SBI & HDFC Bank are similarly influenced by ease of use, perceived utility and perceived risk. But HDFC is marginally better at addressing or understanding the key factors driving customer’s satisfaction. Hence HDFC reflects a stronger alignment with customer needs.