A Study on Innovation in Banking and its Impact on Customer Satisfaction

Sharma, Riya

doi:10.55544/ijrah.2.3.38

Cited by 8 publications

(6 citation statements)

References 10 publications

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“…This comprehension comprises identifying important components, concepts, and language associated with innovation, which leads to better decision-making and, ultimately, raises the likelihood of successful innovation. [1]…”

Section: Innovationmentioning

confidence: 99%

“…These findings have various practical implications for managers, including the promotion and facilitation of information sharing between academics and organizations, the expansion of joint studies, and the facilitation of collaborative procedures. [1]…”

Section: Technological Innovationmentioning

confidence: 99%

“…According to industry analysts, the impact of fintech will affect every aspect of the firm. [1] FIGURE 5. Fintech FinTech, or the merger of financial services and information technology, is widely considered to be a new trend.…”

Section: Fintechmentioning

confidence: 99%

“…These efforts attempted to promote bank efficiency and customer satisfaction, both of which were typically successful. [1].…”

Section: Introductionmentioning

confidence: 99%

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Analysis of Innovation and Technology in Banking

2024

jbab

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As proven by both private and public banks, IT-enabled innovation has had a substantial influence on a range of industries, including banking. These financial institutions value innovation and have achieved success as a consequence of technical breakthroughs. The increased competitiveness has compelled all players to act more rapidly. As a result, public sector banks have experienced substantial transformations, and consumers are now confronted with a slew of new options. These banks, which previously depended on traditional methods, are now proactively getting out to the public through billboards, FM radio, and other media outlets. In addition, endorsements from famous people are becoming more common in government entities. The widespread usage of basic banking processes has increased banks' need to innovate. Client satisfaction increases as a consequence in both public and private banks. The study's purpose is to investigate how new technology affects customer satisfaction in Bhopal's public and commercial banks. Customer data obtained from these banks was reviewed, with substantial results. In terms of innovative successes, private banks outscored state banks, according to the poll. Rising banking rivalry is widely considered to have had an immediate influence on how financial institutions prioritize customer-oriented operations and define company goals. Considering the significance of technology and innovation in the modern economy for strategic management, business development, and economic success, new approaches to understanding the relationship among technological innovation and financial services are critical. These unique strategies are required for gaining an advantage over the competition. With this in mind, the goal of this study is to investigate the basic implications of technological innovation on financial services at the bank's location level, specifically through an examination of customer-facing staff input. According to the findings, information and communication technology is critical to the sector's performance. The paper also examines the empirical study's practical implications, strengths, and limitations.

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Section: Innovationmentioning

confidence: 99%

Section: Technological Innovationmentioning

confidence: 99%

Section: Fintechmentioning

confidence: 99%

“…These efforts attempted to promote bank efficiency and customer satisfaction, both of which were typically successful. [1].…”

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Analysis of Innovation and Technology in Banking

2024

jbab

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“…This is especially notable given that it is commonly assumed that a self-sufficient and adaptive technology-based management system may boost loan availability for small enterprises with minimal transparency and assessment issues. [1]…”

Section: Technology and Bankingmentioning

confidence: 99%

An Empirical Investigation of Innovation and Technology in Banking

2023

rmc

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As proven by both private and public banks, IT-enabled innovation has had a substantial influence on a range of industries, including banking. These financial institutions value innovation and have achieved success as a consequence of technical breakthroughs. The increased competitiveness has compelled all players to act more rapidly. As a result, public sector banks have experienced substantial transformations, and consumers are now confronted with a slew of new options. These banks, which previously depended on traditional methods, are now proactively getting out to the public through billboards, FM radio, and other media outlets. In addition, endorsements from famous people are becoming more common in government entities. The widespread usage of basic banking processes has increased banks' need to innovate. Client satisfaction increases as a consequence in both public and private banks. The study's purpose is to investigate how new technology effects customer satisfaction in Bhopal's public and commercial banks. Customer data obtained from these banks was reviewed, with substantial results. In terms of innovative successes, private banks outscored state banks, according to the poll. Rising banking rivalry is widely considered to have had an immediate influence on how financial institutions prioritize customer-oriented operations and define company goals. Considering the significance of technology and innovation in the modern economy for strategic management, business development, and economic success, new approaches to understanding the relationship among technological innovation and financial services are critical. These unique strategies are required for gaining an advantage over the competition. With this in mind, the goal of this study is to investigate the basic implications of technological innovation on financial services at the bank's location level, specifically through an examination of customer-facing staff input. According to the findings, information and communication technology is critical to the sector's performance. The paper also examines the empirical study 's practical implications, strengths, and limitations.

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Process improvement strategy (PIS) and employee productivity amid COVID-19 pandemic among bank employees

Sulaimon,

Ametepe

2024

IIMTJM

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PurposeThis study aims to examine process improvement strategy (PIS) (proxied by remote work, workforce training, and technological innovation), and employee productivity amid the COVID-19 pandemic among bank employees.Design/methodology/approachThe study employed cross-sectional and descriptive design by applying multistage sampling techniques using convenience sampling to select the study organization and stratified and simple random sampling to select 900 respondents for the study. Data were collected by using validated measures of the study variables designed into a questionnaire. Pearson’s correlation and simple regression analysis were employed to establish relationships and causal effects among variables respectively.FindingsResults showed significant relationships between the PIS (work-from-home, workplace training, and technological innovation) and the outcome variable (employee productivity); and predictive capabilities between the PIS and the outcome variables (employee productivity). The study revealed that remote work accounted for the highest variability (R2 = 0.775) in employee productivity, followed by workplace training (R2 = 0.499), and finally investment in technological innovation (R2 = 0.486)] and as such PIS fosters employee productivity and may, therefore, be applied when faced with a similar pandemic in the future.Originality/valueThe study was recognized for its significance in examining how PIS supports enhancing employee productivity in banks and, by extension, other organizations during a pandemic. The research has proven to be crucial in providing insights into bank management in emerging economies and other organizations worldwide that have previously gone unnoticed during a pandemic. It has aided in the extension of existing literature on PIS and employee productivity by carefully developing a framework, thus covering practical knowledge gaps.

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A Study on Innovation in Banking and its Impact on Customer Satisfaction

Cited by 8 publications

References 10 publications

Analysis of Innovation and Technology in Banking

Analysis of Innovation and Technology in Banking

An Empirical Investigation of Innovation and Technology in Banking

Process improvement strategy (PIS) and employee productivity amid COVID-19 pandemic among bank employees

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