ABSTRACT a nation. Banks have control over a


The Banking
sector is the biggest player, plays a important role in building the economy of
an individual as well as a nation. Banks have control over a large part of the
supply of money in circulation. They are the main stimulants for the economic
development of a country. A strong banking and finance sector is, therefore, important
for a country to attain a developed status . It is vital for growth, creation
of jobs, generation of wealth,poverty eradicate, encouraging entrepreneurship
activity and stimulate the gross domestic product. Today banking is known as
innovative banking. IT has given a fillip to new innovations in the product
designing and their delivery in the banking and finance sectors. Customer
services and  satisfaction are their
prime work. The focus is migrating from mass banking to class banking with the
introduction of value oriented and customized products. Tech allows banks to
create what looks like a branch in a business building’s lobby without having
to recruit manpower for manual operations One of the most significant areas
where IT has shown impact is on substitutes for traditional funds movement
services. With the advent of electronic banking,funds transfer and other
similar products, funds transfer within stipulated time frames which would have
appeared distant possibility  has made it
reality. With networking and internet connectivity new demands are arising
related to security privacy to transactions.

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The banking
sector secure superiority over a new business model by building management and
customer services with a variety to offer and cost control to maintain its
presence in the long run and services. The paper attempts to showcase and
present  the emerging trends and its
challenges that has been emerged in the banking sector with special emphasis on
digital activity. It will be worth meaningful for the academicians, banking and
insurance personnel, financial advisors, professionals, students and
researchers. Digital activity in banking sector provides banking smooth and
transparent for the customers. In the recent years, there is a notable drop in
the usage of branches and tremendous increase in digital banking consumption.
Most of the private banks and public sector banks are focused on offering new
technology-based services to its customers like mobile banking, mobile banking
apps and e-wallets. The biggest advantage of digital channeling in banking is
its ability to provide new propositions and customer specific business models
by analyzing this banking pattern which explores the customer value to the

IT today
has become an important tool for an efficient banking system, and Indian banks
have put in place a fairly strong infrastructure to leverage its benefits. Digitization
is not only an option for banking industry but it is envitable because every sector
is being digitalized. Now India as well as Indians is ready to become cashless
in this era of Digitization. It is no brainer that banks are the backbone of
the economy, they sink and sail with it.Though riddled with lot of risk,
banking services steadily moved forward with digitizationto offer customer
services at their fingertips and laptop screens Over 190 million accounts have
been opened under the financial inclusion scheme, with around 38 per cent of
these being zero-balance accounts. It aims at achieving the maximum — maximum
value, maximum empowerment to people and maximum technological penetration
among the masses. India, being a nation which continues to be driven by cash,
is also moving towards a cashless economy with financial inclusion policy  


 The most efficient way to understand and bring
the organization from conservative banking to digital banking is Omni-Channel
approach. Omni-channel is a multichannel approach to customer service where all
the channels are closely integrated,focussing customer in the center of the
integration.Since customers persist in changing their channel usage patterns,
banks and credit firms need to focus on creating a seamless customer experience
across various points. More than just an axiom, Omni-channel banking is a
prospect to take bottom-line on higher note by gaining information from
customers’ channels, behavior and taste. Currently customers are more advanced
and tech savvy, to cater to their needs, each customer needs a unique
experience from banking. They want them to understand their unstated needs as
well as their likes. Therefore there is no surprise that these customers are
expecting similar kind of response and service from banking sectors. From
researching new services, account opening, monitoring balance, conducting
transactions, loans, credits, wealth management, customer support, delivering an
Omni-channel experience has found success in this competitive market place.

Espousal of
Omni-channel is indispensable to ensure that a unified customer experience is,
imbibed and supports customer at the right time, in the right place as the
right way. Either It may be as per their mobile and digital life style. Staying
germane in current banking revolution entails deep acquaintance of customers’
needs, wants and demands. PwC India’s leader banking and capital markets, Mr.Shinjini
Kumar expressed that, “Many Indian banks, like their Asian counterparts, are
ready  to use the advantage of local
talent and leapfrogging technology to generate forward looking digital


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