Digital Banking Experience after Crisis Demands Changes in Legislative Framework and IT Governance: Insight from Gen X, Gen Y & Gen Z
jhsr.220006
Sana Parveen *
School of Management and Business Studies, Jamia Hamdard, India
Sana Beg
School of Management and Business Studies, Jamia Hamdard, India
*Corresponding author: sanaparveen_sch@jamiahamdard.ac.in
Abstract
In the last few years, there has been a rise in the use of digital financial services. During the pandemic COVID-19, the digital transactions have increased to 87 billion in 2021 from 40 billion in 2020. The objective of a study is to evaluate the existing policies of e-banking services, analyse the challenges faced by the customers and their perception towards e-banking services. The outcome of a study will contribute towards strengthening of e-banking system. A mixed research methodology is used to conduct the research study. Primary and secondary data is used to achieve the objectives. The study’s findings indicate that the banking industry’s current legislative framework is unsuccessful at reducing online crimes and e-banking frauds. It is recommended to develop a customized user interface of e-banking applications, enforce cyber laws and regulations to curb e-banking frauds, assist customers using artificial intelligence options, and others.
Keywords: e-Banking, Banks, Digital Financial Services, Customer Satisfaction, Policies