Impact of Information and Communication Technology on Customer Satisfaction in the Banking Sector in Jaffna District

Abstract

Information and communication technology (ICT) has become the heart of the banking sector now-a-days. ICT is helping the banking sector improve its efficiency and effectiveness of services offered to customers, and enhance business processes, managerial decision making, and work group collaborations which strengthen their competitive positions in rapidly changing and emerging economies. In assessing the impact of information communication technology in banks over the last three decades, it is necessary to consider the key areas in which information technology has significantly changed the banking environment in the world and in the Jaffna District. By and large, the banks have been successful in developing innovative product features, reducing operating costs, enhancing customer service delivery and minimizing inherent risks. The objective of this study is to examine the impact of ICT on customer satisfaction in the banking sector in Jaffna District. By using random sampling method with help of two questionnaires, the satisfaction of customers has been analysed on the basis of bank service, waiting time, interest rate, bank procedure and quality. The finding of the results reveals that the customers satisfaction has improved in many banks in Jaffna district because there are many banks have made substantial investments in technology platforms and systems, built multiple distribution channels, including an electronically linked branch network, automated telephone banking, internet banking and banking through mobile phones to offer its customers convenient access to various products. Further, due to the high usage of ICT services in banking sector, the finding support that the private banks at high level satisfaction than the State banks in Jaffna District. It is quite evident from our study that enhancing ICT in the banking sector is an important strategy for a rapidly changing market place