A Study on Influence of FinTech on Customer Satisfaction of Banks in Pune

Abstract

The world economy has shifted its paradigm from manufacturing to service economy. It has become all-inclusive, dynamic and digital in nature. Globalization, digitalization, government reforms and competition have compelled the business firms to review their strategies, policies, products and services altogether. Technology has revolutionized the business world and economies of the world (developed, developing and under-developed) minimizing the existing gap. Banking is one of the leading sectors providing financial assistance and services to other sectors. Since, the customer is the king of market, it is imperative for the banks to come up with innovative business models and maintain and increase customer satisfaction all the time. FinTech is serving the purpose in this regard. The present study aims to analyze the role of FinTech and its influence on customer satisfaction of banks in Pune city. The article explores the role of FinTech in meeting and exceeding the customer satisfaction in banking field. The study is restricted to Pune city in particular. The structured questionnaire is prepared and applied fort the data collection. There were 100 responses collected from Pune city. The non-probabilistic convenient sampling technique is used. The author had applied the frequency distribution technique of data analysis for the identification of their socio demographic profile and at the same time they had also tried to attempt to identify the satisfaction level of them towards the satisfaction of them towards it. The study is significant from sustainable business growth of banking from Indian perspective.