BRANCH BANKING TO VIRTUAL BANKING -UTILIZATION OF DIRECT BANKING CHANNEL IN INDIAN BANKING SECTOR (Published)
The rapid growth of Information Technology (IT) has tremendously changed the way banking is done worldwide. For obtaining service the customers need not to visit Brick and mortars structure of the Bank. All the services of the Bank can be utilized by alternate channels sitting at any location away from Bank. The influence of IT on banking enables the customer to get all major operations/decisions with regard to deposits, withdrawals, and investments by just clicking of a mouse on a computer or at an Automatic Teller Machine (ATM) or mobile. Direct Banking channels or alternate banking channels can be utilized by banks for acquiring, tracking and serving customers through multiple channels. An entire range of services including account opening, fund transfers third party transfers, utility payments can be done through using direct banking channels. This paper will try to evaluate the usage of Direct banking channels for managing CRM of Bank with special reference to the banking sector in India.