| Summary: | Online banking had been an ongoing opportunity of strong growth for retail banks. In developing countries like India, online banking has been seen only as an alternative banking channel until today. Numerous researches had been examining online banking behaviours across the world. However, there is still an existing void addressing the context of countries and banking segments independently. The behaviour of each country's online banking users may deviate due to different culture, beliefs, technological infrastructure, and income level they perceive. Thus, it is inevitable to study the behavioural aspect of online banking users independently.
In this research, customer experience has been conceptualized at the centre of study to develop the framework for Online Customer Experience and resulting outcomes as behavioural intentions in terms of loyalty. The research framework has been formulated with reference to three major literature frameworks i.e. Klaus (2013), Rose et al. (2012) and Lemon and Verhoef (2016). A quantitative methodology has been used to carry out this research and a sample size of 123 respondents has been collected from the population in India through online survey questionnaire. Statistical analysis, on the primary data collected, was performed using SPSS software in four stages as Reliability analysis, Descriptive analysis, Exploratory factor analysis and Regression analysis. The results of these analysis confirmed causal relationship between Interactivity and Online customer experience as well as relationship of Contents & Service Presence with Online customer experience. The analysis did not reflect very strong causation of Online customer experience due to Value addition. The data analysis also confirmed the causal relationship of online customer experience with behavioural intentions.
Indian online retail banking users were relatively associated with young ages, well-educated and middle-income segment consumers. They are determined to take away high level of customer experience from retail banks over online channel. Service availability and the speed of response from bank's website stands as the top reasons, higher of those may result into superior banking experience. Convenience of banking and Trust are observed as must to have online banking attributes, either absence or shortage of those will result into poor banking experience while the vice versa is not true. The research draws out important insights towards customer experience and its influence over customer journey and behavioural intentions. The research makes contribution as list of recommendations to managers of Indian retail banks pertaining to continuous improvement in customer experience of consumers over online channel of banking to enable sustained growth.
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