Article Details

Role of Physical Banking in Managing Customers – A Study | Original Article

Rajender Katla*, in Journal of Advances and Scholarly Researches in Allied Education | Multidisciplinary Academic Research

ABSTRACT:

Banking plays a vital role in the capital market and money market by transforming savings into investments and provides funds to various individual persons and Business firms to achieve their objectives or goals. Nowadays it is necessary to improve customer service due to competition in the Banking Industry. Banks are using technology to provide better service to customers. The term Digitization refers to the process of Conversion of data into a digital format with the use of technology. Digitalization will help banks to provide better customer services. Digitalization provides convenience to customers and helps in saving time. Digitalization minimizes errors committed by human beings and thus increases customer reliability. Digitalization banking is the way through which customers engage with their resources or finances. Customers are using the internet and mobiles widely to operate the banking operations and other financial services. Banks have to think again to identify the new way to do business or to deliver better customer service to remain competitive. In today's global world, a combination of physical and digital entities (Phygital) is necessary at different critical interaction points of customers to ensure a positive and effective customer journey. Banks that can craft the right blend that effectively touches customer operations, experience, and delivery are most likely to thrive in a fast-changing world.