Book Title: Multidisciplinary Research in the Age of Artificial Intelligence
Chief Editors: Dr. Jagdish Kumar Sahu, and Dr. Byram Anand
Associate Editors: Dr. J. Jayamani, and Albeen Josebh Ahmed
Co-Editors: Dr. Sunakshi Verma, and Mr. Pankaj Bharat Devre
ISBN: 978-93-7183-018-8
Chapter: 6
DOI: https://doi.org/10.59646/781/6
Author: Dr. Jagdish Kumar Sahu
Abstract
Digital banking transformation has transformed the banking industry by leveraging cutting-edge digital technologies to enhance accessibility, efficiency and customer experience for services. This research explores the implications of digital banking transformation for customer satisfaction management in terms of customers’ satisfaction, service quality, and digital banking adoption. The mixed method research design was used, which is a combination of quantitative data collected from the customer surveys and qualitative data collected by applying the structured interview technique with bankers and customers. This digital transformation is further driven by the growing popularity of mobile banking apps, online payment platforms, and AI-powered financial services, which are enhancing the overall customer-centric experience in banking. The results suggest that digital banking has contributed to the convenience of its customers, with faster transactions, having the ability to access the service at any time of day or night, and the ability to offer them a personalised financial product. Moreover, digital platforms have empowered banks to provide more effective, and personalized, services, made possible by the use of customer information and real-time analytics. But factors such as cybersecurity concerns, a lack of digital literacy and technical problems and fewer face-to-face interactions remain to impact the customer experience. The study also identifies measures to enhance customer experiences, such as investing in safe digital infrastructure, digital customer support based on artificial intelligence and customer-centric digital services. The results have confirmed that a successful digital banking transformation can strengthen customers’ satisfaction, trust and loyalty and enhance banking efficiency. The findings of this research play an important role in the existing body of knowledge on digital banking, offering empirical-based suggestions to improve customer experience management in contemporary financial institutions.
Keywords: Digital banking transformation, Customer experience management, Digital banking, Customer satisfaction, Mobile banking, Online banking, Financial technology (FinTech), Customer engagement, Digital financial services, Banking innovation.