Customer Awareness on Technology Products of Karur Vysya Bank

Abstract

The study at Karur Vysya Bank is mainly done to measure the customer awareness level towards the technology products. Indian banks today are as technology-savvy as their counterparts in developed countries. Branch networking coupled with ATM networks has resulted in expansion of banking services across the country. Introduction of new technology based products and services have put the banking industry on a new growth trajectory. The purpose of this research is to study the extent of usage of various banking products and services by customers. Field surveys with structured questionnaires (interview schedule) were used to collect primary data from the customers on random sample basis in Erode Branches. Indian Banks have effectively leveraged technology and introduced several variants of traditional products and new e-based services. While ATM has become popular for cash withdrawals, other services like mobile banking and internet banking are sub-optimally used. Customers are still not using the full range of services available in ATMs. This research would surely help the bank branches to know about the awareness level of customers towards technology products and helps them to take necessary steps to improve.

Keywords: Customer Awareness, Technology-Savvy, Internet and Mobile banking, ATM network.