A STUDY ON IMPACT OF TECHNOLOGY IN THE BANKING INDUSTRY ON CUSTOMER SERVICES AT COCHIN

Abstract

The banking industry is one of the major service sectors that has experienced substantial transformation through information and communication technology. Traditionally, banking activities were strongly dependent on physical branches, face-to-face interaction, paper-based documentation and fixed operating hours. The development of computerisation, telecommunications and internet-based systems has progressively changed this model. Banks now provide a wide range of technology-enabled services through automated teller machines (ATMs), internet banking, mobile banking applications, electronic fund transfers, UPI, QR-based payments, debit and credit cards, electronic customer support, chatbots and other digital channels. Technology has therefore become an important component of modern banking service delivery. Technology has also altered the meaning of customer service in banking. In traditional banking, customer service was largely associated with branch staff behaviour, waiting time, personal attention and physical facilities. In technology-mediated banking, customers evaluate additional dimensions such as application usability, transaction speed, system reliability, availability, security, privacy, responsiveness and ease of problem resolution. Thus, technology itself has become part of the customer-service experience..