Online Banking Experience of Rural Banking Customers: An Empirical Study

Abstract

Technology has transformed the way of banking and has brought a new dimension in the banking industry. Internet banking has gained popularity due to its convenience and flexibility. This concept and technology are relatively new to rural consumers, with most people adopting it in the past year. Among the various services offered by banks through internet banking, balance inquiries are the most commonly used. Other services like term loans, online fixed deposits, and demand draft facilities are not as widely used, possibly due to the underdeveloped awareness of these features. Consumers have certain expectations from internet banking. They want it to be time-saving, user-friendly, and highly secure. The main reasons for using internet banking facilities include having a traditional account with the same bank and being impressed by the excellent services provided by that bank. A sample of 329 respondents was collected from Rural banking customer. The factors that identify the online banking experience of rural banking customers are Accessibility, Security & Trust, Support and Assistance and Mobile banking.