Abstract
The research is focused on customers’ perception about augmented services rendered by the banks, namely, ATM Facilities, Debit card facilities, Credit card facilities, Mobile Banking and Internet banking facilities. How the customers have accepted these facilities, to what extent they are using these facilities and how to improve the usage rate were the main focus of research area in this study. The author conducted a literature search on augmented services rendered by the banks and interviewed 150 customers. The study also focused on various factors that influence the selection of a bank. Analysis was made by using various tools like Ranking, Mann-Whitney Test, Inter-correlation and Multiple regression. This research was carried out to validate the conceptual model of customers’ perception about augmented services provided by the banks. The causes were identified and researched through correcting the causative factors so that the value added services provided by the banks can be used by more people. This will help the banking operations to be more cost effective. The result showed that there exists a relationship between the value added services rendered by the banks. Key words: Customers’ perception, ATM Facilities, Debit card facilities, Credit card facilities, Mobile Banking and Internet banking facilities.
Highlights
Value-Added Services (VAS) are performed to meet customer demands
The results indicated that foreign banks were performing well, followed by private sector banks and public sector banks
The analysis was conducted through the statistical package SPSS version 17.0 towards various Valued added services rendered by the banks like ATM Facilities, Debit card Facilities, Credit card facilities, Mobile Banking and Internet Banking
Summary
Value-Added Services (VAS) are performed to meet customer demands. Activities are performed on a product before the product is delivered to the customer, or a provided service that is performed at the customer site. Customers have started evaluating the banks based on the convenience and comforts it provides them. Bankers have started developing various product features and services using internet applications. Improving customer service, increasing market reach and reducing costs are basic expectations of Internet banking services. If consumers are to use new technologies, the technologies must be reasonably priced relative to alternatives. The acceptance of the new technology may not be viable from the standpoint of the consumer (Suganthi and Balachandran, 2001). Among all, the banking industry is expected to show significant impact on the value added services to be rendered to the customers and this paper concludes with a discussion on the value added services to be rendered by the banking sector (Figure 1)
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