Technological Enhancement of Banking Sector: A Special Reference to Green Banking Initiatives

Purpose: To examine the impact of technological advancements in the banking sector, with a special focus on green banking initiatives. It seeks to explore how innovative technologies, such as digital banking and eco-friendly practices, contribute to sustainability, operational efficiency, and customer satisfaction. By analyzing the adoption and effectiveness of green banking strategies, the study provides insights into their role in promoting environmental responsibility while enhancing the overall performance of banking institutions. Theoretical Framework: The Diffusion of Innovations Theory and the Triple Bottom Line Approach. It examines how technological advancements, particularly in green banking, are adopted within the banking sector and their impact on economic, social, and environmental sustainability, highlighting the integration of technology and sustainability in financial services. Design/Methodology: The study adopts a descriptive research design, utilizing a structured questionnaire to gather data from 100 respondents, including bank customers and employees. Purposive sampling is used to ensure relevant participants. Data is analyze using both qualitative and quantitative methods to assess the impact of green banking initiatives and technological enhancements. Findings: The study reveals that 70% of respondents are aware of green banking initiatives, with most citing eco-friendly practices like paperless transactions and energy-efficient banking as key features. Over 60% of customers appreciate the environmental benefits, while 50% report an improved banking experience due to technological advancements. However, some respondents indicate a lack of awareness and trust in these initiatives. The findings highlight a positive reception towards green banking, though further promotion and education are necessary for wider adoption. Originality: this study lies in its focus on the intersection of technological advancements and green banking initiatives in the banking sector. By surveying 100 respondents, the research provides unique insights into customer perceptions and the impact of eco-friendly banking practices, addressing a gap in existing literature on sustainable banking technologies.