Analyzing Customer Satisfaction of Internet Banking: A Comparative Study in India

Abstract

Purpose – The aim of this paper is to study the dimensions of internet banking and investigates the impact of these dimensions i.e. Accuracy, Ease of Use, Cost Effectiveness and Security & Privacy on Overall Customer Satisfaction. Design/Methodology/Approach – A convenience sampling technique was used to recruit 216 customers through a well designed questionnaire from three public banks i.e. SBI, Punjab National Bank and Bank of Baroda and three private banks i.e. ICICI, HDFC and Axis Bank. Findings – This research showed that dimensions of Internet banking (Accuracy, Ease of Use, Cost Effectiveness, Security & Privacy and Overall Customer Satisfaction) in which Accuracy has no positive effect on Overall Customer Satisfaction but Ease of Use, Cost Effectiveness Security & Privacy have an influence on Overall Customer Satisfaction. Practical Implications – Banks managers should know what type of services customers want from the banks and what type of services they have satisfied or not so there should be a proper assessment of customers’ needs and expectations.