Customer Satisfaction Regarding Online Banking Services: A Comparative Study of Public and Private Sector Banks in Punjab

This study investigates customer satisfaction with online banking services provided by public and private sector banks in Punjab. The research compares satisfaction levels between customers of public sector banks (SBI ) and private sector banks (HDFC ). Using a multiple cross-sectional design, primary data was collected from 200 respondents (100 from each bank) through a questionnaire with open and closed-ended questions. Factor analysis identified five key factors influencing customer satisfaction: online technicalities, ease of use and comfort, privacy and security, prompt services, and problems. The findings reveal that customers are most satisfied with the ease of use and comfort provided by online banking, followed by security and privacy, and prompt services. The comparative analysis indicates that private sector bank customers are generally more satisfied than those of public sector banks across all factors. The study underscores the importance of continuous improvement in online service quality to maintain competitive advantages and strong customer relationships in the evolving banking industry. However, the results are specific to Punjab and may not be generalized to other regions. This research contributes to understanding the current state of online banking satisfaction and identifies areas for improvement, particularly for public sector banks.