The Impact of Technology Transformation on Customer Satisfaction in Banking: A Case Study of State Bank of India

Public banks are striving to remain competitive in the banking industry by adopting new technologies and strategies after digital transformation. This study focuses on the impact of digitalization on banking services and its relationship with customers, specifically in the State Bank of India (SBI). It examines the advantages and disadvantages of digital banking services and explores ways to enhance these services for greater customer satisfaction through a qualitative case study approach. Our findings suggest that digital transformation offers numerous benefits, including improved business processes, cost reduction, and enhanced customer experience. To fully leverage these advantages, banks should adopt a customer-centric approach and focus on developing innovative products and services tailored to their customers' unique needs. Digital platforms provide a safe, secure, and convenient means for banks to build strong client relationships. However, a major challenge for banks is formulating a cost-effective digital strategy while implementing new technologies. Collaborating with financial technology (FinTech) companies can help reduce initial investment costs and overcome this hurdle. Public banks are embarking on a new digital transformation journey, integrating organizational values and culture with modern digital strategies. This study underscores the significance of digitalization in public banking and provides recommendations for staying relevant and competitive in the digital era. The research contributes to a better understanding of customer experiences and how advanced technology can enhance service delivery.