ROLE OF DIGITALISATION IN ENHANCING CUSTOMER EXPERIENCE IN THE BANKING SECTOR

The high rate of digitalisation in the Indian banking industry has revolutionised the customer experience in the banking sector, providing it with convenience, accessibility, and personalisation. This paper focuses on the importance of digitalisation to customer experience (satisfaction, personalisation, and perceptions of security). Quantitative research design was employed, whereby 200 banking customers in Jaipur in the state of Rajasthan, were interviewed using a structured questionnaire. Chi-square, correlation, ANOVA, regression, and t-test were the statistical tools used to assess the proposed hypotheses. Results found that customers by enormous margins preferred digital banking compared to traditional banking, with 70% using digital services on a daily or weekly basis. The chi-square test revealed that digital banking technologies have a significant impact on increasing satisfaction, which corroborates Hypothesis 1 (H1). Besides, the correlation (r =.68, p <.01) and ANOVA findings confirmed the hypothesis that the personalisation has a significant impact on the satisfaction and loyalty and confirmed Hypothesis 2 (H2). Nevertheless, satisfaction with current personalisation was found among 25% of the respondents, meaning that there can be something to improve. Security proved to be a crucial determinant, and regression analysis and t-test have revealed that a lack of confidence in digital security significantly leads to less satisfaction, which proves Hypothesis 3 (H3). The paper has come to the conclusion that one of the cornerstones of banking nowadays is digitalisation, yet customer experience is also determined by the convenience, as well as personalisation and security assurance. The banks should focus on the ease of use, high-security measures, and tailor-made services to create satisfaction, trust, and loyalty.