Financial services through non branch delivery channels

Type :

Indian project

Pages :

42 pages

Format :

.doc

Published date :

04/21/2009

Category :

Economics & finance

Sub category :

Finance

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Summary :

An overview of banking
Revolution in the banking industry
Indian banks cash in on delivery channels
Understanding the psychology of the customer
Using technology for serving customers
Objective of the study
Reseach methodology
Review of literature
1. Electronic delivery
What is Internet banking?
1. Main concerns in Internet banking
Profile of HDFC Bank
Data analysis and interpretation
Appendix
Bibliography

Abstract

With more than 70 percent of financial system assets owned by the banks, the banking sector continues to be the most dominant force in the Indian financial system. However, with the growth in the economy being sluggish, banks can no longer afford to rely on 'corporate banking' to 'retail banking', this move has given an impetus to the performance of practically all the banks, and it has also increased their market capitalization to a large extent. The trend in market capitalization reveals that, the banks that have placed greater thrust on retail banking activities have gained. From the staid to the savvy, each and every bank is singing the retail tune, and with a gusto. Even the laggards are reaping the benefits of the retail revolution. So, boon time for consumers also means boon time for banks. It has been observed that banks, which provide the entire product suite of liability, asset and wealth management products, have been successful in retaining their customers. In today's scenario, though the competition fro garnering a sizeable share in retail market is intensifying it's a win-win situation for the customer. Another key driver in creating this retail thrust is technology, while the differentiating factor being how well banks can use it to meet their customer's needs. Today in addition to private and public sector banks, co-operative banks have also resorted to technology-driven banking and are offering services like 'Anywhere Banking', '24/7 banking', 'One-stop financial solution' and so on. As a result customer have benefited immensely due to availability of world class banking services, lower interest rates on loans and array of electronic banking channels. With the entry of multiple banking channels over the last three to four years, retail banking has taken off. Multiple channels have enabled banks to goon with the entry of multiple banking channels over the last three to four years; retail banking per say has taken off. Multiple channels have enabled banks to gain massive customer acquisition modes, since the transaction volumes spread over multiple channels lessens the load on the branches.